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Vienna, Feb 13, 2024 -The OPEC oil cartel said Tuesday it expects robust economic activity in China and air travel to drive strong global demand growth for oil this year. Its outlook contrasts that of the International Energy Agency (IEA), which advises oil-consuming nations, which last month predicted that oil demand growth would halve on

Dollar rises significantly in early US session supported by the latest consumer inflation data, which also triggers a marked in DOW futures, dropping by over -300 points. Concurrently, 10-year Treasury yield is soaring near 4.3% mark. Most critically, the inflation data revealed that core CPI remained unchanged at 3.9% in January. This stagnation in core

S&P 500 futures Of note, S&P 500 futures are now down some 17 points, or 0.3%, on the day. In turn, European indices are also dribbling lower with the DAX down 0.6% and CAC 40 down 0.3% currently. This looks to be traders taking in some caution as we move towards the US CPI data

Gold and silver contracts resumed trading on Tuesday after a four-hour delay amid a technical glitch that forced a shutdown of trade on the Multi Commodity Exchange (MCX). Bullion started on a positive note at 1 pm today with MCX April gold futures trading at Rs 62,270 per 10 grams at 1:30 pm, up nearly

New Zealand Dollar falls notably during Asian session, triggered by the latest survey from the RBNZ, which revealed a further easing in inflation expectations. The implications of these findings have prompted traders to pare back the bets on the likelihood of more monetary tightening imminent meeting February. Australian Dollar is also dragged down by the

It might be time for US natural gas producers to turn off the pumps. Henry Hub is trading at $1.74 for March delivery, which is the lowest sine the early months of the pandemic. Excluding covid, you have to go back to 2016 when it only briefly traded below these levels. Worse yet, sub-$2 prices

Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32

Japanese Yen stages a broad recovery today, buoyed by notable retreat in European benchmark yields. Meanwhile, Dollar is softening against Yen, yet holding its ground across other major currencies. New Zealand Dollar emerges as the day’s underperformer, yet its losses remain contained within Friday’s range against all counterparts. Sterling and Euro follow closely as the

EUR/USD daily chart The low last week tested the December low of 1.0723 and buyers held their ground. Since then, price action has been a bit more muted though. The 100-day moving average (red line) has kept a lid on any upside move while the floor remains at the December low. It shows that traders

Gold traded in a range on Monday as the Street awaits key data points including the inflation numbers in the US. Last week, top officials in the Federal Reserve reiterated their stance on interest rate cuts, suggesting that they would need more data before they start the rate-slashing exercise. Taking cues from the global price

Today’s Asian session sees an unusual quietness across the region, with major markets closed for holidays, leading to limited movement among major currency pairs and crosses. New Zealand Dollar is having a slight downtick following RBNZ Governor Adrian Orr’s appearance before a parliamentary committee, where he left market participants parsing for clues on future rate

UPCOMING EVENTS: Tuesday: Japan PPI, UK Labour Market report, Switzerland CPI, German ZEW, US NFIB Small Business Optimism Index, US CPI. Wednesday: UK CPI, Eurozone Industrial Production. Thursday: Japan GDP, Australia Labour Market report, UK GDP, UK Industrial Production, Switzerland PPI, US Retail Sales, US Jobless Claims, US Industrial Production, US NAHB Housing Market Index,

Oil prices were on track for over 5% gains week-on-week on Friday, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures slipped 20 cents, or 0.25%, on the day to $81.43 a barrel by 1223 GMT, while U.S. West Texas Intermediate crude futures fell by 9

Spot gold closed with a loss of 0.48% at $2025 Friday as the US yields chugged higher to close 0.47% up at 4.177%. Spot gold was down nearly 0.70% on the week. The ten-year US yields firmed up by around 3.70% on the weekly basis, whereas the two-year yields were up roughly 2% on the

Sunday features the quintessential American cultural event — the Super Bowl. The game itself and its importance in American culture hint at what makes America what it is, and why US stock markets are at record highs as the rest of the world falls further behind. The fairy-tale version of United States excellence leans on

Gold slipped on Friday and was heading for a weekly fall, pressured by elevated Treasury yields, while investors awaited next week’s U.S. inflation data for more clues on the timing of the Federal Reserve‘s interest rate cuts. Spot gold was down 0.5% at $2,022.86 per ounce at 01:47 p.m. ET (1847 GMT) and fell 0.8%

The broader US stock indices continued to plow forward with the S&P closing above 5K for the first time ever. The Nasdaq traded above 16K for the first time since November 2021 and is now within 67 points of a new all time high close. The Dow did fall today but as Chevron, Disney and

Last week’s financial markets were characterized by a mix of resilience, speculation, and divergent central bank signals. In the US, the narrative remained steadfast with Fed officials emphasizing a patient approach towards monetary policy, firmly pushing back against the market’s eager anticipations for imminent rate cuts. This cautious did little to dampen the spirits of