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Asian shares rallied on Thursday as U.S. rate cuts remained on the menu, even if their timing was unclear, while the yen slid against everything except the dollar and boosted Japanese stocks. There was also action in commodities as gold reached another record, oil a five-month peak and copper a 13-month top, helping lift shares in basic materials and energy companies.

Gold surged to a record high on Thursday, as Federal Reserve Chair Jerome Powell underlined that recent job gains and higher-than-expected inflation readings do not significantly alter the overall picture of the central bank's monetary strategy. FUNDAMENTALS

dollar was pinned beneath recent peaks on Thursday with traders taking remarks from Federal Reserve Chair Jerome Powell as reassuring on the likelihood of interest rate cuts this year while waiting for the latest U.S. labour market readout. An unexpected slowdown in U.S. services growth also supported cut expectations and weighed on the dollar, though for the year so far it remains the best-performing G10 currency as those expectations are far more modest than three months ago.

Oil prices rose in early Asian trade on Thursday on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the U.S., the world's biggest oil consumer. Brent futures for June rose 15 cents, or 0.2%, to settle at $89.51 a barrel at 0037 GMT. U.S. West Texas Intermediate (WTI) futures for May rose 15 cents, or 0.2%, to $85.59 a barrel.

Equity markets traded in a narrow range with a negative bias on Wednesday as caution prevailed ahead of the RBI policy meeting and key macro data. «The US Fed Chair Powell's speech will be keenly watched. We expect the market to consolidate over the next few days until the events unfold,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Federal Reserve Chair Jerome Powell indicated a cut in interest was still not in sight. Most of the major S&P 500 sectors advanced, led by gains in energy, materials and communication services .

Mentha Oil Rate Today gains 0.11% on Apr 2 2024 3:50PM “Gold rises to yet record high above $2,280 per ounce in the overseas futures and ₹69,487 per 10gm on MCX futures. Technically, we have already seen a rally of nearly 10% in the past 5-weeks, now we expect some profit-booking," said Pranav Mer, VP - Research (Commodity & Currency) BlinkX and JM Financial. Two Federal Reserve policymakers expressed their belief on Tuesday that it would be "reasonable" to implement three interest rate cuts in the U.S.

The Federal Reserve chairman delivers the keynote address at a Stanford University forum.

Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February

Federal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

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Cryptocurrency markets were trading marginally higher in Monday's trade after a moderation in a key U.S. inflation reading heightened hopes of a Federal Reserve rate cut in June. The latest U.S. inflation data was «along the lines of what we would like to see,» Federal Reserve Chair Jerome Powell said, keeping alive hopes that the central bank will start cutting interest rates in June.

exchange-rate volatility, repeating his warning to yen bears as Tokyo tries to prevent a destabilising fall in the currency. Suzuki stopped short of threatening to take «decisive action» against excessive moves, language the minister used last week when the yen slumped to a 34-year low, suggesting officials are keeping their powder dry as they watch how currency moves play out.

Bitcoin’s journey at $69,753 facing a minor dip of 0.99%. The currency’s performance has been notable, closing the first quarter of 2024 at an all-time high. The crux lies at $74,000, hinting at an intense interplay between buyers and sellers.

European and US equity futures rose Monday as US inflation figures did little to alter views that the Federal Reserve will cut interest rates this year.

Gold rose to a record as indications the Federal Reserve is getting closer to cutting interest rates added impetus to a rally that’s also been driven by geopolitical tensions and robust Chinese demand.

Nifty50 hit a fresh record high of 22,530 as it rallied 0.80% while Sensex surged 500 points, up 0.70%.

Gold prices touched a record high on Monday after data showed that U.S. inflation moderated in February, boosting bets for the Federal Reserve's June interest rate cut. FUNDAMENTALS * Spot gold rose 1% at $2,255.39 per ounce, as of 0103 GMT. Bullion hit a record high of $2,256.09 per ounce earlier in the session.

dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention. The personal consumption expenditures (PCE) price index rose 0.3% in February, the Commerce Department's Bureau of Economic Analysis said on Friday, compared with the 0.4% rise that economists polled by Reuters had forecast.

Chance Perdomo, who shot to fame through TV series such as ‘Chilling Adventures Of Sabrina’ and ‘Gen V’ has passed away from a motorcycle accident. He was 27. The star’s publicist broke the news of the actor’s death toVariety on Saturday and confirmed that there was no other people involved in the incident. “It is with heavy hearts that we share the news of Chance Perdomo’s untimely passing as a result of a motorcycle accident. Authorities have advised that no other individuals were involved. His passion for the arts and insatiable appetite for life was felt by all who knew him, and his warmth will carry on in those who he loved dearest. We ask to please respect the family’s wish for privacy as they mourn the loss of their beloved son and brother..” the statement read. ‘Gen V’ producers also mourned his demise. “For those of us who knew him and worked with him, Chance was always charming and smiling, an enthusiastic force of nature, an incredibly talented performer, and more than anything else, just a very kind, lovely person. Even writing about him in the past tense doesn’t make sense. We are so sorry for Chance’s family, and we are grieving the loss of our friend and colleague. Hug your loved ones tonight..” they wrote on X.

Federal Reserve cooled last month, and consumer spending rebounded sharply. Earlier in the week, the collapse of a major bridge in Baltimore will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast. In Japan, the yen weakened to levels last seen in 1990, prompting multiple officials to affirm their commitment to intervene if necessary.