Oil prices rose on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.25, or 1.47%, to $86.14 a barrel by 1145 GMT. U.S. West Texas Intermediate crude was up $1.29, or 1.6%, at $81.80. Oil was
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European majors are maintaining their upward momentum against the Dollar, leveraging last week’s rally and finding additional support in the unexpectedly positive Eurozone investor confidence data. Yet, while the data provided a glimmer of positivity, the market remains guarded, unwilling to fully commit to the narrative of an economic rebound. Meanwhile, Australian and New Zealand
The upcoming week is expected to be relatively quiet, with a handful of economic events drawing attention. On Tuesday, in Australia, the RBA is set to announce the Cash Rate and release its Rate Statement. Moving to Wednesday, New Zealand will reveal its Inflation Expectations quarter-on-quarter (q/q), while in the U.K., BoE Governor Bailey is
Gold fell on Monday amid profit booking. This was despite the dollar index (DXY) slipping to five week lows. MCX December gold futures were trading at Rs 60,832 per 10 gram, down by Rs 188 or 0.31% from the Friday closing price. Meanwhile, the December silver futures were trading at Rs 72,178 per kg, lower
As the new trading week opens, the forex markets present a scene of relative tranquility during the Asian session. Dollar is attempting a modest recovery from last week’s downturn, yet the impetus for a decisive rally seems absent. In contrast to the upbeat sentiment in Asian equity markets, spurred by Friday’s surge on Wall Street,
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Gold was broadly topsy-turvy in the first half of the year. It started at $1,823 an ounce and went up to $2,072 initially on worries over the global growth outlook and inflation concerns. By the end of the second quarter, it corrected significantly due to rising bond yields and the forecast that high interest rates
An AI bot made illegal trades, acting on insider information, and then lied about it to its human handlers. It occurred in a demonstration event at the UK’s AI safety summit. Apollo Research conducted the experiment. The BBC wrote up a report on the simulated conversation between a bot that was acting as an AI
Gold prices were largely flat in early Asian hours on Friday, as investors looked forward to the U.S. October non-farm payrolls report later in the day for more clues on the Federal Reserve’s interest rate path. FUNDAMENTALS * Spot gold was almost flat at $1,985.09 per ounce by 0112 GMT and U.S. gold futures were
S&P 500 weekly chart Closing changes on the day: S&P 500 up +1.00% DJIA +0.7% Russell 2000 +2.7% Nasdaq Comp +1.4% Toronto TSX Comp +1.0% On the week: S&P 500 up 5.9% — best since Nov 2022 DJIA +5.1% Russell 2000 +7.6% — best since Feb 2021 Nasdaq Comp +6.6% Toronto TSX Comp +5.8% The
Dismal US monthly job report and ISM services data Friday sank the US yields and consequently, the US Dollar index, which propelled the gold prices above $2000. However, reduced geopolitical concerns led to a decline from the day’s high. Spot gold closed with a gain of 0.36% at $1992.72. It was lower on the week
In a week marked by a significant shift in investor sentiment, Dollar found itself at the bottom of the currency heap. A rapid shift to a risk-on attitude was catalyzed by sharp decline in benchmark Treasury yields, fueling an aggressive uptick in stock prices. The surge in equity investments was further amplified when the latest
Markets: Gold up $7 to $1992 US 10-year yields down 9.3 bps to 4.57% WTI crude oil down $1.64 to $80.83 S&P 500 up 1.0% NZD leads, USD lags This week marked a turn of the calendar and a turn in markets. Treasury yields plunged and the dollar sank along with them. Meanwhile, it was
Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased. Brent crude futures rose 6 cents to $86.91 a barrel by 0010 GMT, while U.S.
Dollar experienced a pronounced dip as yields fell and stocks surged overnight, with the selling pressure continuing into Asian session. This comes even though Chair Jerome Powell left the door open for more tightening, after leaving interest rates unchanged. Contrastingly, market participants appear to be leaning even more towards the idea that Fed may have
There are reports of an earthquake being felt in New Delhi, with buildings shaking. A related report cites a 6.2 magnitude earthquake in the Nepal region, however the USGS classifies it at 5.6. It’s 11:45 pm local time in New Delhi so people would be indoors. The duration was a reported 40-50 seconds. New Delhi
Oil prices fell on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S. Federal Reserve has done hiking interest rates in the world’s biggest oil consuming economy. Brent crude futures were down $1.21, or 1.4%, to $85.64 a barrel at 1431
Markets reacted with notable positivity to the latest US. non-farm payroll report, which showed weaker-than-expected growth in jobs, a higher unemployment rate, and subdued wage inflation. Stock futures leaped as the data appeared to assuage investor concerns about further tightening by Fed. In a sharp response, 10-year Treasury yield plunged through 4.55% level, exacerbating the