The benchmark US Natural gas prices have shed over 24% since the start of the year. In the key NYMEX platform, prices edged below $2 last week, its lowest level since September 2020. The resilience of short sellers, lack of new buying interest in anticipation of warmer-than-normal temperatures in the US, and expectations of increased
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The USD is ending the session lower to end the trading week with most of the declines coming vs the AUD and the NZD. Overnight, ANZ reported that is now predicts that the Reserve Bank of New Zealand (RBNZ) will increase the Official Cash Rate (OCR) by 25 basis points in both February and April,
Japanese Yen declines broadly in today’s Asian session, reacting to dovish remarks made by BoJ Deputy Governor. The official’s commentary emphasized a cautious approach to monetary tightening, highlighting that even with exit from negative interest rate policy, the pace of interest rate hikes would remain measured. This outlook, especially the suggestion that inflation could stabilize
The issue price of the next tranche of Sovereign Gold Bond, opening for subscription for five days from Monday, has been fixed at Rs 6,263 per gram, the Reserve Bank said in a statement on Friday. The Sovereign Gold Bond Scheme 2023-24 – Series IV will be open for subscription during February 12-16, 2024. “The
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Canadian Dollar bounces broadly in early US session, bolstered by unexpectedly robust Canadian employment data. This development comes amidst cautious remarks earlier in the week from BoC Governor Tiff Macklem, who tempered expectations by noting that achieving the 2% inflation target would be a gradual process, fraught with persistent risks. The January meeting minutes echoed
Notwithstanding a slight positive bias in bullion in Friday’s morning trade, gold and silver continue to tread in weak territory. Lack of demand, the likelihood of pushback in Fed rate cut and uptick in the dollar index have contributed to its decline this year. Taking cues from the global price trends, the MCX April gold
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Swiss Franc and Japanese Yen are currently the weakest performers for the week on a couple of interrelated factors. Firstly, global central bankers are tempering expectations for early rate cuts, suggesting rate difference between SNB/BoJ and other central banks would remain large for longer. This stance has been further compounded by a significant rebound in
Oil prices gained over 2% on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude futures rose $1.70, or 2.15%, to $80.91 a barrel by 1525 GMT. U.S. West Texas Intermediate crude futures were up $1.61, or 2.18%, at $75.47.
It’s not often that Federal Reserve Chairman Jerome Powell highlights a specific piece of economic data that he’s looking forward to but he did just that at the latest FOMC meeting. One piece of data I will be watching closely is the scheduled revisions to CPI inflation due next month. Recall that a year ago,
Dollar rises broadly in early US session, standing out in a day characterized by relatively slow news flow. The move in the greenback can be primarily attributed to the rise in US benchmark yields, which outpaced those of other regions, thereby bolstering the greenback’s appeal. Sentiment surrounding the US market remains positive, with traders showing
Gold prices ticked up on Thursday buoyed by a softer dollar and lower Treasury yields, ahead of a weekly jobless claims report that could provide fresh clues on when the U.S. Federal Reserve would start lowering interest rates. FUNDAMENTALS * Spot gold rose 0.2% to $2,037.80 per ounce, as of 0218 GMT. * U.S. gold
Clerc says that Maersk has suffered “serious attacks” in the Red Sea and that there is no clarity over the costs accumulated from said disruptions. Adding that he expects a continued shipping diversion from the Red Sea “for a while”. As for Q4 earnings, the firm reported a miss on forecasts in terms of profit
The Congressional Budget Office (CBO) provides a comprehensive forecast based on current laws, including the assumption that the 2017 individual tax cuts will expire at the end of 2025. Here’s a summary of their projections: The CBO forecasts the U.S. fiscal year 2024 deficit at $1.507 trillion, a decrease from the FY 2023 deficit of
Gold prices jumped Rs 170 to Rs 63,370 per 10 grams in the national capital on Wednesday amid gains in precious metal’s prices globally, according to HDFC Securities. The yellow metal had closed at Rs 63,200 per 10 grams in the previous trade. However, silver plunged Rs 300 to Rs 74,600 per kilogram, while it
Sterling, and to a lesser extent, Euro, are propelled slightly higher by hawkish comments from key figures in BoE and ECB. These officials have adopted a stance of patience, preferring to wait for additional economic data before making any decisions on interest rate cuts. Their cautious approach has also lifted benchmark yields in the UK
Prior +1.1% UK house prices rose for a fourth month in a row, with the average cost of a home now seen at £291,029. Of note, property prices are up 2.5% on an annual basis, its highest since January last year. Halifax notes that: “The recent reduction of mortgage rates from lenders as competition picks