NEW YORK: Oil prices held near 13-month highs on Thursday, with profit-taking limited by an assurance that US interest rates will stay low and a sharp drop in US crude output last week due to the winter storm in Texas. Brent futures for April delivery rose 10 cents, or 0.2%, to $67.14 a barrel by
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Surging global yields remain the major focus today, with Germany 10-year bund yield hitting as high as -0.234, while UK 10-year gilt yield reaching as high as 0.818. Earlier in Asia, Japan 10-year JGB yield closed strongly at 0.152. US 10-year yield is also trading above 1.45. In the currency markets, Euro is trying to
The number of individuals filing first-time claims for state unemployment benefits fell sharply last week, with a total of 730,000 new claims for the week ended Feb. 20, the Department of Labor reported. The unemployment rate has also been falling, dropping to 6.3% in January. Signs of improvement in the labor market may create the
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Thursday announced that it has struck deals with fast-food giants McDonald’s and Yum Brands, sending shares up 7% in extended trading. The company
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Bison Trails, a blockchain infrastructure company that was recently acquired by Coinbase, has launched a new Polkadot API that could allow developers to build their applications much faster. Beginning Thursday, Bison Trails customers will be able to leverage Polkadot Indexer, a new protocol that allows users to retrieve and query all types of blockchain data
The heavily offered tone surrounding the USD continued exerting pressure on USD/CAD. Surging US bond yields, mostly upbeat US macro data did little to impress the USD bulls. A modest pullback in crude oil prices undermined the loonie and extended some support. The USD/CAD pair remained depressed through the early North American session, albeit managed
WTI crude is up another 0.7% to $63.70 today Invest in yourself. See our forex education hub. The gains in oil this month have been rather unrelenting, with the rally even looking past news that OPEC+ may be looking to decide on increasing production starting from April at its next meeting in March. That said,
US Q4 GDP (second reading) +4.1% vs +4.2% expected Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Fourth quarter 2020 GDP estimate First reading was +4.0% Final Q3 reading was +33.4% Personal consumption +2.4% vs +2.5% expected GDP price index +2.1% vs +2.0% expected Core PCE +1.4% vs +1.4%
New Delhi: Gold futures on Thursday slipped 0.32 per cent to Rs 46,371 per 10 gram as participants offloaded their holdings on a low spot demand. On the Multi Commodity Exchange, gold for the April delivery fell Rs 151, or 0.32 per cent, to Rs 46,371 per 10 grams in a business turnover of 13,350
As DOW hit another record with strong rise overnight, team risk-on is extending the lead over team risk-off in the currency markets. New Zealand Dollar is having a mild upper hand over Australian, Canadian and Sterling for now. But the Loonie is trying to catch up with rising oil price. On the other hand, after
Jobless claims fell sharply last week despite brutal winter storms that swept across Texas and other parts of the South, the Labor Department reported Thursday. First-time filings for unemployment insurance totaled 730,000 for the week ended Feb. 20, well below the Dow Jones estimate of 845,000. That total represented a substantial decrease from the 841,000
An employee removes a pizza from the oven at a Domino’s Pizza restaurant in Rantoul, Illinois. Daniel Acker | Bloomberg | Getty Images Domino’s Pizza on Thursday reported quarterly earnings missed estimates as pandemic costs weighed on profits and U.S. same-store sales growth slowed. The pizza chain also released a new outlook for the next two to
GBP/USD keeps the longest weekly rally in three years above 1.4100 GBP/USD steps back from an intraday high of 1.4150 to 1.4138 during Thursday’s Asian session. Even so, the cable prints mild gains on a day while rising for the sixth consecutive week, the biggest run-up since 2018, by press time. While tracing the moves,
Russell 2000 index rises by 2.38% The major stock indices all closed sharply higher with the Russell 2000 of small-cap stocks outperforming with a gain of 2.38%. The Dow industrial average is closing at a record high of 31961.86. It reached an intraday all-time high of 32009.64. A look at the closing levels shows Russell index up 53.08 points or
Bloomberg with the piece on moves at Exxon to drop 98% of thick Albertan crude from its reserves list Bloomberg cite a regulatory filing on Wednesday: Exxon counted the equivalent of 15.2 billion barrels of reserves as of Dec. 31, down from 22.44 billion a year earlier And notes that Canada can be brought back onto