Canada Finance Minister Freeland Canada finance minister Freeland is on the wires saying: Canada has strong financial institutions. Institutions have capital they need to weather periods of turbulence Monitoring financial system closely, talking with allies about turbulence Will deliver additional targeted inflation relief in government budget next week Supports measures in the budget will be
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Oil prices dropped to their lowest in 15 months on Monday, driven down by concern that risks in the global banking sector and a potential increase to U.S. interest rates could spark a recession that would sap fuel demand. In volatile trading, Brent crude futures for May fell 87 cents, or 1.2%, to $72.10 a
Market reactions to the ongoing banking crisis reveal a shift away from Swiss Franc, traditionally considered a safe-haven currency, as Credit Suisse shares lose over two-thirds of their value following the acquisition announcement by UBS. The broader markets in Europe are, however, relatively steady. Euro and Sterling are experiencing notable increases today, with the Yen
It’s been a quick turn in the past 15 minutes as we see the jitters return to markets again. This comes ahead of European trading and despite the supposedly more optimistic headlines overnight, in which we saw a takeover of Credit Suisse by UBS and major central banks pledging to enhance dollar swap lines to
Gold closed the week with a humongous gain of nearly 7% at $1989.34 as, globally, investors become increasingly concerned about the stability of the financial system due to the shaky and fragile looking banking sector. With the closures of three US banks, and Credit Suisse on the verge of shutting down, the global banking industry
Sources indicate that UBS is close to finalizing a deal to acquire Credit Suisse, as Swiss and global authorities work to mitigate banking sector contagion and restore confidence in the financial system. The agreement could be reached as early as Sunday. The Swiss National Bank (SNB) provided a $50 billion lifeline earlier this week, although
Natural gas prices have dropped more than 75% in the last six-month period. Moderate after-winter demand and concerns about industrial consumption because of the US Federal Reserve’s aggressive rate hikes adversely hit the demand outlook. The year 2022 was the most volatile period ever for gas prices. Global supply chain uncertainties due to the Russia-Ukraine
The Japan defence ministry adds that the missile flew to an altitude of 50km and covered a range of 800km before splashing into the sea. The provocations and boldness continues from North Korea and the latest one is another apparent protest to the ongoing military exercise between South Korea and the US.
MCX Gold futures hit lifetime highs on Friday on the intraday (Rs 59,461) and closing basis at Rs 59,420 per 10 gram. The April futures settled up by Rs 1,414 or 2.44% from the Thursday closing price. Meanwhile, May Silver futures rallied over 3% and gained Rs 2,118 per kg to close at Rs 68,649.
US rates moved sharply lower today as banking concerns along with hopes for a more dovish Fed next week, sent funds flowing into US treasuries. Looking at the US treasury curve, the: 2 year: 3.387%, down -29.3 basis points 5 year: 3.504%, down -23.2 basis points 10 year: 3.439%, down -26 basis points 30 year:
COMEX gold prices witnessed another leg of rally and is poised for a third consecutive weekly gain of more than 3.5%, boosted by safe haven bids. The yellow metal started the week on a positive note, as investors rushed for haven assets, amid signs of failure of the Silicon Valley Bank in the US, after
Last week, the world appeared to be on the brink of an international banking crisis. The situation might have stabilized with Silicon Valley Bank filing for Chapter 11 bankruptcy, First Republic Bank receiving aid in the form of deposits from major players, and Credit Suisse obtaining a CHF 50B lifeline from SNB. Despite these developments,
According to Moody’s, the downgrade and ratings reflect “the deterioration in the bank’s financial profile and the significant challenges it faces”. Adding that it is maintaining ratings under review for a downgrade as well. For some context, a drop from B2 to Baa1 is straight up putting the credit profile of First Republic Bank into
Gold and silver futures continued their bull run on MCX on Friday, with April Gold futures trading at Rs 58,241 per 10 grams in morning trade, up Rs 235 or 0.41%. Meanwhile, May Silver futures were trading at Rs 67,363 per kg, up Rs 832 or 1.25% around this time. MCX Gold has given returns
Dollar faces renewed selling pressure as Asian markets exhibit a positive tone, following the overnight rebound in US stocks. The question remains: is the banking crisis over? It seems likely, at least temporarily, as major banks rushed to support First Republic and the situation surrounding Credit Suisse stabilized. If Wall Street’s rebound continues to gain
WSJ Timiraos on CNBC: 25 basis point hike because skipping hike risks a market melt up the case for a pause boils down to concerns that credit events can turn serious and it’s better to move slowly The Fed decision likely to be dependent on market response in coming days Everything we heard from the
Gold price climbed Rs 400 to Rs 58,040 per 10 gram in the national capital on Friday amid a rise in the precious metal prices globally, according to HDFC Securities. The yellow metal had settled at Rs 57,640 per 10 gram in the previous trade. Silver, however, tumbled Rs 430 to Rs 67,600 per kilogram.
Market sentiment seems to have taken another hit as Silicon Valley Bank filed for Chapter 11 bankruptcy today. Bank shares in the US are in sharp decline, dragging down the broader market. Yen surges again, bolstered by falling treasury yields too. Dollar, Euro, and Swiss Franc emerged as the weakest performers for the day, with