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Asian markets presented a subdued trading environment today, despite overnight rallies in their US counterparts. A notable exception is that Hong Kong’s stock market underwent a significant tumble, taking a step back after a day off. Elsewhere, indices generally hovered around flat levels within a tight range. In the realm of currencies, most major pairs

Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts had fallen more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the partial restart of some Libyan oilfields. Brent crude

> US business inventories for May +0.2% versus 0.2% expected US business inventories for May 2023 Prior month 0.2% revised to 0.1% Business inventories 0.2% versus 0.2% expected Retail inventories ex autos -0.1% versus -0.3% last month In May, the combined value of distributive trade sales and manufacturers’ shipments reached an estimated $1,822.1 billion. This

Canadian Dollar is having a mild slump in early US session following lower-than-expected headline CPI reading. However, the currency’s slide was largely restrained, primarily due to the base-year effects of gasoline prices contributing to the deceleration in consumer inflation. Concurrently, Australian and New Zealand Dollars also experienced a slight dip amid mixed risk sentiment. Euro,

Gold prices struggled for momentum in early Asian trading on Tuesday, as traders awaited a U.S. Federal Reserve meeting due next week for clues about its monetary tightening path. * Spot gold was little changed at $1,955.24 per ounce by 0110 GMT. U.S. gold futures gained 0.1% to $1,958.80. * The dollar was steady at

The ANZ – Roy Morgan consumer confidence survey is conducted weekly. Its running along close to its 3 year low. index has now spent twenty straight weeks below 80, the longest stretch below 80 since the index began being conducted on a weekly basis in October 2008 ANZ remarks: “The confidence level was among the

The financial markets kicked off the week on a sour note, grappling with disappointing Chinese GDP figures that undercut the overall sentiment. Despite a mixed bag of data for June, the weaker-than-expected economic expansion in China sent Australian Dollar – a bellwether for the commodities sector – on a slide, spearheading losses among commodity-linked currencies.

Gold prices declined Rs 50 to Rs 59,950 per 10 gram in the national capital on Monday amid a fall in yellow metal prices internationally, according to HDFC Securities. The precious metal had closed at Rs 60,000 per 10 gram in the previous trade. However, silver prices remained flat at Rs 76,400 per kilogramme. Gold

The US dollar is catching some bids as New York trading ramps up to start the week, led by USD/JPY. This might be a reaction to the softer Chinese data earlier and to Janet Yellen talking about potential outbound investment controls related to China. It could also be a follow-on to the US dollar strength

With mild risk aversion permeating the markets, Gold and some other commodities are weakening notably today. China’s latest economic indicators paint a dreary picture – a sluggish recovery, dampened consumer demand, record youth unemployment, and escalating deflation risk. With a key meeting of the Chinese Communist Party’s Politburo around the corner, all eyes are on

Oil prices dipped for a second session on Monday after Libya resumed production over the weekend while China, the world’s largest crude importer, is expected to release economic data showing that its post-pandemic recovery is fizzling out. Brent crude futures fell 57 cents, or 0.7%, to $79.30 a barrel by 0055 GMT while U.S. West

An item from oil news site Rigzone quotes an analyst view that the sweet spot for oil pricing is around US$70 per barrel: FGE’s Director of Short-Term Global Oil Service & Head of Upstream Oil: “the problem right now is that the world thinks it needs a higher price” “Financial institutions think international oil companies

TOKYO – Oil prices rose on Friday on support from tighter supply amid issues in Libya and Nigeria and easing U.S. inflation, which markets hope may bring an end to interest rate hikes in the world’s biggest economy. Brent crude futures rose 27 cents, or 0.3%, to $81.63 per barrel at 0028 GMT. U.S. West

UPCOMING EVENTS: Monday: PBoC MLF. Tuesday: US Retail Sales, Canada CPI. Wednesday: New Zealand CPI, UK CPI. Thursday: PBoC LPR, Australia Jobs Report, US Jobless Claims. Friday: Japan CPI, UK Retail Sales. Monday: There’s no expectations for the PBoC to cut the MLF rate as the recent comments by the PBoC deputy governor Liu Guoqiang

Gold prices eased on Friday but were on track for their biggest weekly gain since April, after signs of slowing U.S. inflation raised expectations of a pause in Federal Reserve’s interest rate hikes after this month. Spot gold fell 0.1% to $1,959.27 per ounce by 01:45 p.m. EDT (1745 GMT), but has gained about 1.8%

The earnings calendar was unofficially started today with the release of some of the major banks including J.P. Morgan, Citigroup, and Wells Fargo. So what is on tap for next week? Below are some of the major releases: Tuesday, July 18 Bank of America Novartis Morgan Stanley Lockheed Martin Charles Schwab PNC Financial Interactive brokers

Following the release of data indicating a steeper than anticipated slowdown in inflation, Dollar saw a marked decline last week, securing its position as the week’s most significant loser in the currency markets. Concurrently, surge in stocks and tumble in benchmark treasury yields accompanied Dollar’s descent. At this juncture, it remains too premature to determine

COMEX Gold prices mostly edged higher during the week, as the dollar doom started with last week’s NFP data. Friday’s labour data showed signs of slowdown in the jobs market, with non-farm payrolls falling to a two and half year low of 209K job additions. Meanwhile, US inflation print released during the week prompted further