Page 22 - Us Fed News Today

Market expert, Ajay Bagga, expects as many as five rate cuts of 25 bps each by the US Federal Reserve by next December. Back home, he feels the RBI is ahead of the curve with its clampdown on consumer loans amid stress in the rural economy. He sees a huge upsurge in rural consumption ahead as the wedding season kicks off.

The next six months may bring positive bias to the equity market due to increased economic activity and potential rate cuts, according to industry experts.

Brent crude futures were up $2.07, or 2.6%, at $82.05 a barrel by 1:01 p.m. EST (1801 GMT). US West Texas Intermediate (WTI) crude gained $2.02, or 2.7%, to $76.88.

Spot gold gained 0.8% to $2,030.49 per ounce by 10:50 a.m. ET (1550 GMT), highest since May 11.

“Silver has been very volatile this year gaining 6% year-to-date on the domestic front; similarly, gold has tested its extremes on both sides and is now steadily gaining momentum posting gains of 11% YTD. In the month of November month-to-date, gold has slightly inched higher while silver has gained by 2%, following an up-move in industrial metal as well.”

Spot gold was up 0.5% at $2,001.97 per ounce by 2:30 p.m. ET (1930 GMT), and has risen over 1% so far this week. US gold futures settled 0.5% higher at $2,003.00.

A daily rundown of the economic reports and corporate earnings that will be grabbing the market’s attention in the week ahead

Brent oil fell to $ 80.96 per barrel as US crude inventories rose by 8.701 million barrels vs a 5.592 million barrels gain last week.

MUMBAI: RBI governor Shaktikanta Das has asked lenders to shun all forms of 'exuberance' and called upon finance companies and corporates to stress te.

Asian currencies were trading lower after US federal reserve meeting attendees highlighted minimal progress in reducing core inflation