Oil prices climbed about 1% on Friday, supported by supply cuts despite weak economic news from Germany, a stronger U.S. dollar and the prospect of more U.S. rate hikes. Brent futures rose 96 cents, or 1.2%, to $84.32 a barrel by 12:16 p.m. EDT (1616 GMT). U.S. West Texas Intermediate (WTI) crude rose 78 cents,
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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
Dollar clinched the title of the week’s best performing currency, even though there was just muted impact from Fed Chair Jerome Powell’s remarks at Jackson Hole. While Powell’s renewed commitment to combating inflation prompted traders to elevate their expectations for another rate hike within the year, broader market reactions, notably in equities and bonds, were
Gold steadied on Friday as it heads for its best week since mid-July, with support from a pullback in the U.S. bond yields before Federal Reserve Chair Jerome Powell’s keynote remarks at the Jackson Hole symposium. Spot gold edged down 0.1% to $1,915.40 per ounce by 0958 GMT, having risen about 1.4% so far this
Fed’s Powell’s Jackson Hole speech finally came and unlike last year when the speech was short and sweet and to the point, there was little bit of something for everyone : Regarding monetary policy and rate decisions: Prepared to raise rates further if deemed necessary. The next move will be based on data. The Federal
As the financial world gears up for the much-anticipated remarks from Fed Chair Jerome Powell and ECB President Christine Lagarde, market participants are treading with caution. Dollar has started to retreat, shedding some of its recent impressive gains. Simultaneously, Euro grapples to find solid ground elsewhere amidst a mixed backdrop. Both leading central bank figures
Gold fell Rs 50 to Rs 59,600 per 10 gram in the national capital on Friday amid weak cues in global markets, according to HDFC Securities. The precious metal had closed at Rs 59,650 per 10 gram in the previous trade. Silver also declined Rs 400 to Rs 76,300 per kilogram. In the overseas markets,
It was mostly the euro and pound which were pressured lower against the dollar earlier. But we are seeing both currencies turn back to near flat levels on the day now with EUR/USD back up to 1.0800 and GBP/USD up to just above the 1.2600 mark. Here’s a snapshot of things and you can see
A shift in market sentiment rattled investors as the optimism spurred by Nvidia was short-lived. DOW experienced its most severe daily slump since March overnight, while S&P 500 and NASDAQ posted their largest one-day drops since early August. This change in market dynamics played into the hands of Dollar, which surged, hitting weekly highs against
Oil prices slipped in early Asian trade on Thursday as weak manufacturing data in major economies outweighed optimism around a larger-than-expected drop in U.S. crude stocks. Markets are also looking for hints on the outlook for how long interest rates will remain at current levels ahead of a speech by Federal Reserve Chair Jerome Powell
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
Dollar exhibits renewed vigor in the early US trading hours, marking broad-based gains. While today’s data showcased robust initial jobless claims and a mixed bag for durable goods orders, these don’t seem to be the primary catalysts fueling the Dollar’s ascent. A more plausible driver is the resurgence of treasury yield, with the 10-year yield
Gold prices hovered near two-week highs on Thursday, lifted by a retreat in the U.S. dollar and Treasury yields as investors waited to see what interest rate signals the U.S. Federal Reserve could send at its annual Jackson Hole meeting. FUNDAMENTALS * Spot gold was up 0.2% at $1,917.50 per ounce by 0124 GMT, close
AUD/USD daily chart It is a bit of a head scratcher considering the more positive mood in equities so far today. The only thing I can point to is lower commodity prices in which we are seeing iron ore prices fall slightly after the recent rally. That said, I reckon traders engaging in shorts are
The foreign exchange are mostly stable today, with major currency pairs and crosses staying confined within the boundaries set yesterday. Both Sterling and Euro have had a lackluster week, emerging as the weakest performers. US Dollar, while subdued, still fares better, positioned ahead of Canadian Dollar as the third least impressive for the week. In
Oil prices slid almost 2% on Wednesday as gloomy global manufacturing data grabbed attention ahead of an annual meeting of central bankers at Jackson Hole in the United States, with interest rates high on the agenda. Brent crude was down $1.54, or 1.8%, at $82.49 a barrel by 1308 GMT while U.S. West Texas Intermediate
Boeing has identified a potentially widespread manufacturing quality issue on the 737 Max Boeing says it does not consider the issue to be an immediate threat to the safety of flight for the in-service fleet However, the company is at a minimum planning for near-term delivery delays for some 737 Max aircraft Link here for
Sterling and Euro faced a sharp drop today after alarming PMI readings unveiled an unanticipated rapid decline in the service sectors of both the UK and Eurozone. The days of service-driven economic growth seem to be in the rearview mirror, with signs indicating probable contractions in the third quarter for both regions. Canadian Dollar also