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The dollar is sitting lower on the day as markets are adopting a calmer mood ahead of European morning trade. US futures may not exactly show it but the good news is that there is no further bad news since overnight trading at least. EUR/USD is up 0.4% to 1.0650 and is looking to build

VOVL, the oil and gas exploration company of Videocon group will start voting on the four resolution plans received from the two Brazilian companies – Eneva Brazil and Petro Ria SA, a Vedanta entity and a fund of Prudent Asset Reconstruction Company, said two people aware of the development. The resolution professional Pravin Navandar invited

Euro weakens mildly following the ECB’s decision to increase interest rates by 50bps, in line with their previously stated intentions. However, the absence of any reference to future rate hikes in the accompanying statement hints at the possibility of a pause in upcoming monetary policy meetings. Concurrently, Yen is resuming its recent rally in early

Sources say that a group of financials institutions are in talks to deposit $20 billion in First Republic and attempt to save the company, build confidence, and keep the deposit base solid. The stock has been halted and is trading at $30.14 down -$1.02 or -3.27%. Meanwhile the Dow Industrial Average has pushed to a

Oil prices clawed back some ground on Thursday, recovering from the previous session’s 15-month lows, as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But market sentiment remained fragile, battered by fears of growing stress on banks worldwide, and both the main crude benchmarks gave up some of Thursday’s

Despite regaining some ground in the Asian session, Euro continues to trade as the week’s weakest performer alongside Swiss Franc. Today’s ECB rate announcement is the primary focus for investors, as uncertainty looms over the extent of the anticipated rate hike. The SNB’s efforts to stabilize the markets in response to Credit Suisse’s problems may

Just when you thought markets would move on from the SVB fallout, we are getting sucked back into the banking crisis vortex à la Credit Suisse. There’s always that saying when it comes to things like this, that if things are bad in the US, chances are it is worse in Europe. And that is

Gold prices climbed over 1% to their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion. Spot gold was up 1.1% to $1,923.00 per ounce at 9:53 a.m. EDT (1353 GMT). U.S. gold futures gained

After days of market turbulence, Asian session has been relatively calm today. US stocks recovered overnight with a strong rebound in treasury yields, helping to calm market sentiments. Mixed economic data from China did not seem to have any significant impact on the markets. With the banking crisis slowly fading into the background, focus is

Governments do not want to deal with a banking crisis that spreads globally so naturally they want Switzerland to put an end to questions about Credit Suisse before it hits counterparties. It’s a bit worrisome that Swiss officials have been quiet so far, evidently hoping this goes away on its own.

Oil fell to its lowest in 15 months as banking turmoil continued and the US dollar gained.West Texas Intermediate crude futures erased early gains, falling below $70 a barrel for the first time since December 2021. Brent futures also dropped, hitting a three-month low. Credit Suisse Group AG shares plunged and the Euro Stoxx Banks

The financial markets are once again in a state of panic as Credit Suisse saw its shares plummet by over -20% and hit a new record low, dragging European stocks deeply down with it. Bonds are becoming the go-to for worried investors again, with US 10-year yield breaking the 3.5 handle and Germany 10-year yield

In terms of impact, there won’t be much from this I would argue as Hunt will be afforded little wiggle room in delivering on the budget. Key issues such as inflation, the cost-of-living crisis, worker strikes and the fact that corporation tax is set to jump higher next month (from 19% to 25%) are the

An intense heatwave that parts of India is witnessing hasn’t so far affected vegetable output and prices, as there is still moisture in the soil after last year’s plentiful rains improved the water table, farmers and traders said. Supply of fish too is ample, as aquaculture farms also aren’t facing any shortage of water. This

Dollar weakened slightly in early US session, following the release of economic data which showed that consumer inflation slowed in February to the level as expected. The absence of an upside surprise in the CPI readings means that Fed should be in a more comfortable position to address uncertainties over the banking system. This could

The Cleveland Fed does some of the math on the US CPI print to offer a picture of underlying inflation and it continues to be problematic. median CPI +0.6% m/m vs +0.7% prior 16% trimmed mean +0.5% vs +0.6% prior Median y/y 7.2% vs 7.1% prior 16% trimmed mean +6.5% vs +6.6% prior At least

Gold prices climbed Rs 480 to Rs 57,380 per 10 grams in the national capital on Tuesday amid strong global trends, according to HDFC Securities. The precious metal had ended at Rs 56,900 per 10 grams in the previous trade. Silver also zoomed Rs 2,150 to Rs 66,900 per kg. “Spot gold price in the

Investors are eagerly awaiting the release of February US CPI figures today, although the banking crisis has overshadowed the event. The possibility of a 50bps hike by Fed next week has been priced out by the market. While traders still anticipate a 25bps hike, with a likelihood of over 70% as indicated in the fed