Oil steadied in early Asian trade on Thursday as a surprise draw in U.S. crude oil stockpiles that supported prices was offset by a smaller-than-expected cut to Russian supplies and stronger dollar. Brent crude futures were unchanged at $78.28 a barrel at 0020 GMT. West Texas Intermediate U.S. crude fell 6 cents, or 0.1%, to
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In the quiet Asian session, Canadian Dollar continues to outperform, while positive risk sentiment is providing a slight boost to Australian Dollar, though not New Zealand Dollar. Euro is drawing support from hawkish remarks by ECB officials but lacks strong follow-through buying. Yen, Swiss Franc, and Dollar remain the weaker currencies this week, reflecting overall
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Gold prices fell by Rs 110 to Rs 58,740 per 10 grams in the national capital on Wednesday amid weak global trends, according to HDFC Securities. The yellow metal had closed at Rs 58,850 per 10 grams in the previous trade. Silver, however, jumped by Rs 350 to Rs 70,100 per kg. “Spot gold prices
Euro is trading mildly higher today following indications from a key ECB official that more interest rate hikes are in the pipeline for the central bank. Concurrently, the improving market sentiment across Europe is lending support to both Sterling and the Swiss Franc. However, Canadian Dollar emerges as the strongest for the day, fueled by
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Gold prices edged down on Wednesday as the U.S. dollar steadied, while fears abated about a bigger fallout from the global banking sector crisis after efforts by regulators to shore up investor confidence. FUNDAMENTALS * Spot gold was trading 0.2% lower at $1,970.79 per ounce, as of 0050 GMT, after rising 1% on Tuesday. U.S.
Dollar, Japanese Yen, and Swiss Franc are under selling pressure this week amid improving risk sentiment. Yen is particularly weighed down by the extended rebound in treasury yields, while Swiss Franc is pressured by sell-offs against Euro and Sterling. Currently, the Canadian Dollar leads the pack for the week, aided by recovering oil prices. Australian
Bloomberg carry the report (Bloomberg is gated) that “Regulators are singling out a trade on Deutsche Bank AG’s credit default swaps that they suspect fueled a global sell off on Friday.” The Bloomberg report is citing “people familiar with the matter”. In brief: It was a roughly €5 million ($5.4 million) bet on swaps tied
Gold and silver futures were trading at day’s high in the second half of Tuesday’s session triggered by slippages in the greenback. The Dollar Index was down 0.29% at 102 against the basket of six major currencies. Movement in gold price is inversely related to the dollar trajectory. The MCX April Gold futures were trading
As European treasury yields rebound, the Euro and Sterling gains against Dollar and Swiss Franc today. However, their upside remains limited by near term resistance. Also, momentum against commodity currencies appears less pronounced. The greenback is trading lower amid generally stabilizing risk sentiment, but market fluctuations remain limited, with European indexes and US futures fluctuating
No tsunami warning has been issued and the epicenter appears to be just off the east coast of the Aomori prefecture. JMA is also reaffirming that the preliminary magnitude is that of 6.1. Judging by the location, it doesn’t seem to be one that might cause too much harm and damage to the mainland.
Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal’s appeal . FUNDAMENTALS * Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. U.S. gold futures rose 0.3%
Forex markets are currently navigating a landscape of uncertainty, as mixed currency performance contributes to a lack of clear direction. Dollar has experienced a decline in Asian session, but still hovers within familiar boundaries against other major currencies. Meanwhile, Euro has managed to strengthen against the greenback but appears less robust in other pairs. Yen,
A quiet Monday on the data front, looked for clues from the banking sector. The turmoil of last week was replaced with a relative calm. First Citizens Bancshare purchased some of Silicone Valley Bank’s mortgage assets. That helped to push up the shares of First Republic and other regional banks. FRC shares rose $1.46 or
Oil prices rose on Monday after a halt to oil exports from Iraqi Kurdistan via Turkey and moves to contain a potential banking crisis that could have hit demand for crude. Brent crude futures were up $1.18, or 1.6%, at $76.17 a barrel by 1426 GMT. West Texas Intermediate U.S. crude rose $1.28, or 1.9%,
The financial markets are sending mixed messages today, with risk sentiment seemingly improving as European indexes and US futures trade higher. US and German 10-year yields are also recovering. However, the currency markets paint a different picture, with Swiss Franc leading as the best performer, followed by Canadian Dollar and Sterling. In contrast, Yen is
Last week the Fed raised the federal funds rates by 25bps, which was seen as a mildly dovish decision. The FOMC’s post-meeting statement and the latest projections suggest that current events in the financial system are a cause of concern and might put an end to the tightening cycle. One more 25bps rate hike is