The strong US dollar bid from earlier in New York trade has reversed. The dollar managed to run some stops against the yen and pound but as yields cooled, so has the currency. At the same time, some dip buying in US equities helped to turn the mood. The S&P 500 fell to 4474 but
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Stoxx 600 +1.2% German DAX+1.3% UK FTSE 100 +1.4% French CAC +1.3% Italy MIB +2.0% Spain IBEX +1.5% On the week: German DAX +0.5% UK FTSE 100 +1.6% French CAC -2.1% Italy MIB -1.5% Spain IBEX +1.4% French stocks lagged as Le Pen pulls nearly even with Macron ahead of the first round of Presidential
> EU Von Der Leyen: Zelensky says more sanctions are needed EUR Speaking on Ukraine Zelensky says more sanctions are needed It was right to spend Russia from UN human rights Council Ukraine to fight is our fight, EU is by Ukraine’s side We are mobilizing our economy to make Putin pay a very heavy
China reported a seventh consecutive day of record covid cases at 24,101 with 21,222 of those in Shanghai as the outbreak continues to spread. Mass testing is continuing and there’s no end in sight to a lockdown that was supposed to end April 5. Traffic at the airport is largely grounded and the world’s largest
Inflation is back on the agenda next week with the market looking for a whopping 1.2% m/m increase in US prices due largely to commodity price jumps after the dawn on the Ukraine war. That will push the y/y rate to 8.5% and keep the bond market on eggshells. Monday: Bostic Bowman Waller Evans 3-year
Oil was walking the technical razor’s edge yesterday as it tested the March low. It held though and bounced. Another dip was bought today with some strength kicking in before settlement. That highlights some physical demand and how resilient the market is despite massive global releases from strategic reserves. It gained $1.30 in the final
The major US indices are closing mixed with the Dow industrial average higher, while the S&P, NASDAQ and Russell 2000 are all lower NASDAQ and S&P is down for the third time in four trading days S&P and NASDAQ have the first weekly loss in four weeks All three major indices close lower for the
Markets: Gold up $12 to $1944 US 10-year yields up 5 bps to 2.70% WTI crude up $1.78 to $97.80 S&P 500 down 12 points to 4488 CAD leads, NZD lags The US dollar surged in early New York trade then gave it all back. The rally in the dollar had some backing as Treasury
There’s no end in sight to the lockdown measures restricting 25 million people and the world’s largest port in Shanghai. Daily infections rose to 23,624 nationally in China with the vast majority in Shanghai. A new round of mass testing was ordered and lockdowns are no expected to last through the month. Difficulties in getting
TOKYO: Oil futures slid on Wednesday, extending losses from the previous day, as a stronger U.S. dollar prompted fresh selling while data showing a build in U.S. crude stocks and Shanghai’s extended lockdown fuelled fears of slower demand. Brent crude futures fell 97 cents, or 0.9%, to $105.67 a barrel, while U.S. West Texas Intermediate
April 6: Gold eased on Wednesday as hawkish comments from U.S. Federal Reserve officials boosted the dollar and Treasury yields to multi-year highs, denting the safe-haven metal’s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,920.87 per ounce, as of 0114 GMT. U.S. gold futures fell 0.3% to $1,920.90. * The dollar scaled a
MELBOURNE: Oil prices clawed back some losses on Thursday after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia. Brent crude futures climbed $1.32, or 1.3%, to $102.39 a barrel at 0119 GMT, while
Gold prices inched lower on Thursday as the U.S. dollar firmed after minutes of the Federal Reserve‘s March meeting indicated an aggressive stance to combat inflation, denting the safe-haven metal‘s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,922.08 per ounce by 0125 GMT. U.S. gold futures rose 0.2% to $1,926.10. * The dollar
NEW DELHI: Domestic gold prices were trading flat on Thursday as a strong US dollar following hawkish US Fed minutes dented demand for the yellow metal. Gold futures on MCX were down 0.03 per cent or Rs 15 down at Rs 51,611 per 10 grams. Silver futures were trading higher by 0.04 per cent or
New Delhi: Gold prices on Thursday rose by Rs 42 to Rs 51,638 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 42 or 0.08 per cent to Rs 51,638 per 10 grams in
India may find it difficult to grow faster than 8% in FY23 if crude prices persist at the current level for too long, the finance ministry said on Thursday, warning the Russia-Ukraine conflict poses an upside risk to inflation as well. The government is exploring all viable options, including import diversification, to procure crude at
NEW DELHI: Gold prices dropped during early trade on Friday as a stronger US dollar dimmed down the demand for safe-haven metal. A stronger US dollar makes gold less attractive for other currency holders. However, gold is being supported by the Ukraine uncertainty, rapid inflation, and the still persistent COVID-19 pandemic. Gold futures on MCX
For India’s fuel consumers, reprieve continues for the third straight day as petrol and diesel prices remained unchanged. Since March 22, fuel prices have seen a Rs 10 a litre jump after 14 revisions. Petrol in Delhi retails at Rs 105.41 per litre, while diesel is Rs 95.87 per litre to Rs 96.67. In Mumbai,