NEW YORK: Oil prices were little changed as a falling and rising stock market offset earlier declines caused by a big increase in US gasoline stockpiles and subdued demand compared with pre-pandemic levels. Brent futures rose 20 cents, or 0.3%, to $63.36 a barrel by 11:43 a.m. EDT (1543 GMT), while US West Texas Intermediate
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The ECB minutes for the March meeting has supported EURUSD. The minutes revealed that policymakers saw upside risks to the economic outlook, thanks to US’ huge fiscal stimulus. Meanwhile, despite higher inflation in the near-term, it should remain subdued and below the central bank’s target. Policymakers also pledged to accelerate PEPP purchases in 2Q21 so
Federal Reserve Governor Lael Brainard said that while U.S. economic outlook has “brightened considerably,” it remains well away from the central bank’s goals. “Brighter outlook, but of course our monetary policy forward guidance is premised on outcomes not the outlook, and so it is going to be some time before both employment and inflation have
In this article LEVI An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019. David Paul Morris | Bloomberg | Getty Images Levi Strauss & Co. on Thursday reported a double-digit sales decline for its fiscal first quarter, as ongoing
In recent trade today, the People’s Bank of China (PBOC) set the yuan mid-point at 6.5409 vs yesterday at 6.5384. About the fix China maintains strict control of the yuan’s rate on the mainland. CNY differs from its offshore yuan, or CNH, which is not as tightly controlled as the onshore yuan. Each morning, the People’s Bank of China
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Reef Finance, a DeFi ecosystem powered by Polkadot, has released a new investment product aimed at helping passive investors gain access to a broader portfolio of cryptocurrencies. Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and other crypto assets. It operates in a similar manner to exchange-traded funds,
IMF communiqué The IMF steering committee communiqué is being released. Highlights: Global economy recovering faster than expected prospects are highly in certain and uneven across countries There are financial vulnerabilities that could cause risks if global financial conditions tighten swiftly where appropriate, monetary policy should remain accommodative We will strengthen cooperation to durably exit crisis. Invest in yourself. See our forex education
Pair steps lower and through swing area in the process The USDJPY has been stepping lower this week. Monday saw the pair move down to test the 200 hour MA (green line) and bounced on Tuesday. That bounce reached the higher 100 hour MA (blue line), found sellers and reversed sharply lower. Yesterday, the pair
NEW DELHI: Coriander prices on Thursday fell by Rs 146 to Rs 7,152 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market. On the National Commodity and Derivatives Exchange, coriander contracts for April eased by Rs 146, or 2 per cent, to Rs 7,152 per quintal in 2,860
USD/JPY’s near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We’ll monitor if the Yen’s rally is a prelude to some other developments in the markets. For now, Kiwi
First-time claims for unemployment insurance rose more than expected last week despite other signs of healing in the jobs market, the Labor Department reported Thursday. First-time claims for the week ended April 3 totaled 744,000, well above the expectation for 694,000 from economists surveyed by Dow Jones. The total represented an increase of 16,000 from
Here is what you need to know on Thursday, April 8: Stocks continue to remain near or at record highs as politicians and Fed officials remain on point for bulls. President Biden is open to negotiation on the corporate tax rate and Fed minutes show no hawks need apply! The market duly took its cue
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The S&P index did close at a new record high The major indices are closing their unchanged levels give or take. The border S&P index got up to a higher 4083.16. That was just short of the all-time high reached yesterday at 4086.23 (but it did close at a new record high). The NASDAQ index
NEW DELHI: The government has procured 3.49 lakh tonnes of wheat worth at Rs 691 crore at the minimum support price so far in the marketing season 2021-22. The wheat procurement for the rabi marketing season kicked off from April. According to an official statement, the procurement of the crop began in Haryana, Uttar Pradesh,