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LONDON – Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. Brent crude futures was down $3.39, or 4.1%, to $79.06 a barrel by 1412 GMT. U.S. West Texas Intermediate (WTI) crude futures were down $3.26,

Dollar is extending its near term recovery in the early US session. The latest jobless claims data came in better than expected, offering some support to the greenback. However, this was somewhat offset by weaker-than-anticipated durable goods orders. Overall, the current upswing in may not be entirely rooted in these economic releases. The recovery appears

There has been a myriad of reasons why the dollar is dropping in the last week. But as it turns out, softening Fed odds is not exactly one of them. Here’s a look at the Fed funds futures curve since after the US CPI data: Sure, the latest snapshot is still reflecting softer odds compared

Gold traded with minor losses on Wednesday in the early trade after crossing the $2,000 mark on Tuesday. The strength in the yellow metal is owing to the weakness in the dollar index (DXY) which is currently trading at 11 week’s low. Taking cues from the international prices, MCX December gold futures opened in the

As Thanksgiving long weekend approaches, a noticeable tranquility has enveloped the financial markets. The aftermath of FOMC minutes, which revealed a slightly toned-down hawkish stance, has resulted in rather subdued market reactions. Major stock indices have slightly retreated from their recent advances, reflecting a cautious sentiment among investors. Correspondingly, 10-year Treasury yield also concluded yesterday’s

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Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth. Both contracts had climbed about 2% on Monday after three OPEC+ sources told Reuters that the

Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC’s confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to break above prior week’s high against

The notice says that the satellite will be launched in the direction of the Yellow Sea and East China Sea, with Tokyo and Seoul stating that this could be a third attempt to put a spy satellite into orbit – which would be a violation of a UN ban. For some context, North Korea had

Following a slump in the US dollar and weaker treasury yields, December futures of MCX Gold today rose by Rs 377 to Rs 61,034 per 10 gram. December futures of MCX Silver was up 0.74% to Rs 72,644. Gold is expected to find support at Rs 60,580-60,460, and resistance at Rs 61,010-61,230. Silver may have

Japanese Yen’s rally continued in today’s Asian session, breaking through 148 mark against Dollar. This rise raises questions about the reaction of Japanese Finance Minister Shunichi Suzuki, particularly in light of his previous comments during Yen’s decline this year. Suzuki had described the decline as “one-sided” and driven by “speculations.” The current volatility, contrasting the

The USD moved lower today – only outpaced by the CAD as the weakest of the major currencies. The JPY was the strongest. The strongest to the weakest of the major currencies Over the weekend Pimco said they were moving into the JPY on expectations that the Bank of Japan would start to tighten. The

Brent and U.S. crude futures climbed more than 2.5%, gaining $2 a barrel on Monday, as further supply cuts in OPEC+ production are expected in the coming weeks. Brent crude futures were up $2.19 to $82.80 a barrel by 10:32 a.m. CT (1632 GMT). U.S. West Texas Intermediate crude was up $1.98, or 2.6% at

Japanese Yen’s remarkable rally has become a focal point in the currency markets today. It’s strength is extending into US session. This surge is not an isolated event but a reflection of broader shifts in global monetary policy expectations. A crucial factor propelling Yen upwards is the increasing speculation that BoJ would finally abandon its

USD/JPY daily chart The pair just touched a low of 148.20 on the day, its lowest level in six weeks, as the dollar is finding it tough to stay afloat in the new week. The drop continues the downside momentum from last week after USD/JPY fell past the 150.00 mark and is now sliding further,

A slight uptick in the US bond yields negated the advantage of the fall in the dollar index (DXY) as gold traded with minor gains in the early trade on Monday. Taking cues from the international prices, MCX December gold futures opened with small gains and were trading at Rs 60,713 per 10 gram in

Dollar’s selloff intensified in today’s Asian session, underpinned by strong risk-on sentiment prevalent in the market. This move was particularly evident in USD/JPY, which saw broke through an important near-term support level around the 149 mark, signaling the prospect for further decline. Yen’s strength was mirrored by Chinese Yuan, while the Australian and New Zealand

Rating actions from Moody’s noted, some positive news for these euro countries: Moody’s upgrades Portugal’s ratings to A3 and changes Outlook to Stable Moody’s affirms Italy’s Ratings At Baa3, and changes the Outlook to Stable from Negative Meanwhile DBRS Morningstar has confirmed the UK At AA, with a stable trend. (The above are all weekend