NEW YORK/LONDON (Reuters) - The dollar rebounded from a three-week low in choppy trading on Friday, as a round of U.S. economic data suggested that inflation continued its red-hot rise in June, keeping the Federal Reserve on track to raise interest rates as aggressively as it deems necessary.
As the cryptocurrency market cap crossed $1.1 trillion mark on Friday and Bitcoin rose above $24,000, experts said that 'we are not there yet'
Gold and silver have always remained some of the precious assets to safeguard against inflation
Powell cannot afford to take his eyes off the prize - to get inflation down
Markets perceive Fed as being less hawkish
(Reuters) - Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset.
India's market ranking has once again slipped to seventh position as a variety of crises bother investors
The US central bank will begin allowing its holdings of Treasuries and mortgage-backed securities to roll off in June.
While the general consensus is of 6-7 rate hikes this year by the US Fed, there are some who expect lower rate hikes and a slowdown in the economy
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Weekly initial jobless claims fell to a seasonally adjusted 187,000 last week, the lowest level since September 1969 and below the 212,000 forecast
Spot gold was last up 0.1% at $1,945.56 per ounce by 1026 GMT. U.S. gold futures rose 0.3% at $1,943.10
The dollar fell on Wednesday after the U.S. Federal Reserve moved to a hawkish monetary policy but without delivering a tougher surprise that might have added to its weeks-long momentum
Spot gold was down 0.4% at $1,909.87 per ounce as of 10:59 ET (1459 GMT), after touching its lowest since March 1 at $1,903.59 earlier in the session
The Budget and RBI's last policy took a conservative estimate of crude prices $75 per barrel. This is likely to be a challenge going forward, economists say
He said the economy's fast-paced recovery from Covid was giving rise to persistent supply, demand imbalances
MSCI's global gauge of stocks gained 0.10%, and the pan-European STOXX 600 index rose 0.26% after the Fed's statement
While US monetary policy was far from hawkish in 2014, it stood in contrast to the ultra-dovish trajectories of central banks in Europe, Japan and other countries
Investors looked to lock in gains after the recent rally but most dips were bought into, which left indices unchanged at close.
The broader markets, meanwhile, outperformed, rising for the fourth straight session