Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued. Brent crude fell 18 cents, or 0.2%, to $87.97 a barrel at 0017 GMT, while U.S. West Texas Intermediate
Month: October 2023
Gold prices hit a more than one-week high on Tuesday, a day after posting sharp gains on increased market uncertainty due to the Middle East conflict as dovish remarks from top U.S. Federal Reserve officials weighed on the dollar and bond yields. FUNDAMENTALS * Spot gold rose 0.2% to $1,864.39 per ounce by 0117 GMT,
Strength in yellow metal was intact on Tuesday in the international and domestic markets as the crisis in the Middle East deepened. Gold has gained by over Rs 860 in two sessions and is at two week’s high. Moreover, the dollar index (DXY) slipped slightly, aiding the cause of gold. The MCX December gold futures
The beginning of the week is marked by heightened risk aversion and increasing geopolitical uncertainties, primarily stemming from escalating conflicts in the Middle East. The upswing in geopolitical tensions is casting a shadow, prompting a noticeable shift towards safe-haven assets like gold, oil, safe-haven currencies. Japanese Yen emerges as the strongest contender in Asian session,
The global financial markets are responding with caution to the rising tensions in the Middle East. However, this sentiment is tempered and contained, with significant shifts and trends yet to be firmly established. European stock markets are reflecting a subdued sentiment, with DAX and CAC registering modest declines, and FTSE remaining mostly flat. The anticipated
Japanese Yen is trading on a softer note in Asian session as the rebound witnessed yesterday begins to lose steam. A notable comment from Japan’s Finance Minister Shunichi Suzuki raised some interest among market observers. Suzuki attributed the ongoing weakening of Yen partly to interest rate differentials, steering away from the customary practice of solely
Attendees arrive at the event campus on the opening day of the annual meetings of the International Monetary Fund (IMF) and World Bank in Marrakesh, Morocco, on Monday, Oct. 9, 2023. Bloomberg | Bloomberg | Getty Images The International Monetary Fund on Tuesday released its latest World Economic Outlook, which revised its forecast for U.S.
In this article PEP Follow your favorite stocksCREATE FREE ACCOUNT Pepsi products at a convenience store in Crockett, California, June 16, 2023. David Paul Morris | Bloomberg | Getty Images PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations and raised its outlook for its full-year earnings. Shares of the company rose 2% in
Share: Natural Gas prices jump to $3.59. The US Dollar eases as markets turn towards risk on. US Natural Gas prices could reach $4 if further supply hiccups emerge. Natural Gas prices keep pressing higher as supply towards Europe is getting cut short from all sides. First and foremost the Australian ports are due to
Share: EUR/JPY fades Monday’s drop and climbs to the 158.00 region. Further side-lined trade appears favoured so far. EUR/JPY sets aside Monday’s small pullback and resumes the upside to the boundaries of the 158.00 zone on Tuesday. In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a
Share: Gold price scales higher for the second straight day and climbs to over a one-week high on Monday. Escalating geopolitical tensions in the Middle East provide a strong lift to the safe-haven XAU/USD. Hawkish Fed expectations, elevated US bond yields underpin the USD and cap gains for the metal. Gold price (XAU/USD) witnessed a
Gold prices have faced a second consecutive weekly loss as 10-year bond yields surged past 4.8%. This decline in COMEX Gold prices began in late September and has been primarily driven by the significant increase in US bond yields, fueled by strong economic data. Gold is now hovering near its lowest levels in seven months,
Whether you like the price action or not, the technicals in the EURUSD told the story for the price action. Initially, the price moved sharply lower after the stronger-than-expected nonfarm payroll add. That move took the price to a key support level at 1.0483. I’ve outlined that level as a key downside target to get
Statement from an Israeli Defense Force spokeperson to the effect that Israel is amassing 100,000 troops, tanks and more in southern Israel. The aim is to take away all military capabilities from Hamas. Once that’s done move so that Hamas will no longer be governing the Gaza Strip. ICYMI: More: BBC pic — As for
Image source: Jaromila | E+ | Getty Images Consumers are still splurging for a side of fries with their meals. That can have a positive read-through for the economy. Frozen potato supplier Lamb Weston Holdings has seen the share of consumers ordering the iconic side with fast food meals — known as the fry attachment
Ripple chief technology officer David Schwartz has advocated for XRP Ledger (XRPL) validators to support an automated market maker (AMM) feature, but only if there is consensus within the community. On X (formerly Twitter), Schwartz discussed the XRPL’s AMM feature. In his initial post, Schwartz referred to AMMs as an intriguing part of decentralized finance. The
Share: Canadian Dollar market flows turn bullish following US & Canada labor data prints. Canada Unemployment Rate flat at 5.5%, US unemployment holds at 3.8%. US NFP handily beats expectations with slightly softer earnings. The Canadian Dollar (CAD) is climbing to fresh highs, set to challenge Monday’s trading range following a bumper labor data release,
Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives exchange, on October 8, received approval from the Securities and Exchange Board of India (SEBI) Technical Advisory Committee to launch a new web-based commodity derivatives platform (CPD). “SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate
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