Oil prices dropped on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from Asia. Brent futures fell 28 cents to $80.90 a barrel by 0001 GMT. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel. Both benchmarks
News
AI image The upcoming week features a series of significant economic releases, auctions, and reports that market participants will be watching closely. Monday, November 20 The week kicks off with a Treasury auction of 20-year securities worth $16 billion, an event that will give us insights into market demand for long-term government debt. It comes
Gold prices rose slightly on Friday, on track for their first weekly gain in three, as investors grew confident that the U.S. Federal Reserve is done raising interest rates, sending the dollar and Treasury yields lower. FUNDAMENTALS * Spot gold was up 0.2% at $1,984.26 per ounce, as of 0059 GMT, after hitting its highest
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
Spot gold closed with a weekly gain of around 2.30% at $1980.87. Gold closed with a loss of $2 Friday on a slight rebound in the two-year US yields that came on somewhat better-than-expected housing starts data. US housing starts (October) came in at 1372K Vs the forecast of 1350K, while building permits were recorded
Dollar notably emerged as the weakest performer among global currencies last week. This decline was primarily driven by robust risk-on sentiment pervading global markets and noticeable dip in treasury yields, not just in the US but globally. A key factor influencing this trend is the growing belief among investors that most major central banks, including
If artificial intelligence is the future, then Sam Altman was the man delivering it. The CEO of OpenAI, which created ChatGPT, was unceremoniously given his pink slip today. The company released a statement that said: Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in
Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6
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
Oil prices were on track for the fourth straight week of decline as they remained little changed in early Asian trade after slipping about 5% to a four month-low on Thursday on worries over global demand. Brent futures were up 10 cents, or 0.1%, at $77.52 a barrel at 0232 GMT. U.S. West Texas Intermediate
Japanese Yen surged sharply in European session, bolstered by significant dips in Germany’s 10-year government bond yield, which reached its lowest level since early September. Concurrently, US 10-year yield also briefly fell below 4.4% mark. This movement in the bond markets reflects an aggressive stance by traders betting on rate cuts by major central banks
As we look towards the closing stages of the week, the main focus is on the bond market. And with yields slipping further in European trading, it is sparking some broader market moves. Of note, USD/JPY is now down 0.8% to 149.55 while stocks are beginning to pick up some steam on the session. S&P
MCX gold traded with strength on Friday, having hit a fresh lifetime high of Rs 61,914 per 10 gram on Thursday and is set to end with weekly gains for the first time in three weeks. The uptick has ridden on the weaker dollar index (DXY) which has fallen 1.43% in the past five sessions.
As the trading week draws to a close, the forex markets are experiencing a period of relative calm in today’s Asian session. Key developments include Euro’s attempted resurgence against Dollar overnight, which, despite initial signs of a rally, lost its momentum and settled back into familiar range. This pattern of indecisiveness is mirrored by Swiss
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
Gold prices were flat in early Asian hours on Thursday as the dollar firmed after strong U.S. retail sales data, offseting support from hopes that the Federal Reserve had come to the end of its tightening cycle. FUNDAMENTALS * Spot gold was little changed at $1,958.79 per ounce, as of 0128 GMT. U.S. gold futures
Dollar is facing renewed selling pressure in the early US session, as fresh economic data points to a further cooling in the job market. A significant uptick in continuing jobless claims, reaching their highest level in nearly two years, suggests a softening labor environment. Adding to this, deeper-than-expected decline in import prices, influenced by both
It’s all looking rather tentative so far in European morning trade, as major currencies are not showing much appetite. The dollar is mostly little changed, with only the kiwi lagging against the rest of the majors. This comes as stocks are also mixed and little changed, although bond yields are slightly lower on the day.