Charlie Munger turned 99 last month but he’s still investing with Warren Buffett at Berkshire Hathaway and still weighing in on markets with his classic wit. Today he was asked about long-term valuations and said “I don’t worry about it too much, because I will be dead”. He He was also asked about the secret
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China will make up nearly half of this year’s oil demand growth after it relaxed its COVID-19 curbs, the International Energy Agency (IEA) said on Wednesday, but restrained OPEC+ production could mean a supply deficit in the second half. “Supply from OPEC+ is projected to contract with Russia pressured by sanctions,” the Paris-based agency said
Dollar might finally be committing to a rally after stronger than expected retail sales data. Consumer markets appeared to remain robust despite persistently high inflation. Talks of a higher terminal rate for Fed is also growing. On the other hand, Sterling was knocked down earlier today after lower than expected CPI reading, in particular against
This comes as we see a slightly softer risk mood, with broader markets still largely digesting the US CPI data from yesterday. The greenback is higher across the board with AUD/USD being the biggest loser, down 1.2% to 0.6900 currently: That said, the pair is still sandwiched between key technical levels with offers lined up
Gold prices edged up on Wednesday as the dollar eased, while U.S. inflation data released on Tuesday raised expectations that the Federal Reserve will persist with monetary policy tightening. FUNDAMENTALS * Spot gold was up 0.1% at $1,856.47 per ounce, as of 0105 GMT. U.S. gold futures were little changed at $1,865.80. * The dollar
Dollar is trading on the softer side again as focus turns to CPI report from the US today. While the markets are finally buying in that federal fund rates would peak above 5% level, there are already some bets on a higher terminal rate. Meanwhile, the bets on a rate cut this year is receding
Yesterday’s trading was a hint of what was to come. There’s money on the sidelines that is more worried about missing the bottom of the market cycle than next month’s CPI report. There was also all the money that ran scared late last year on recession fears that’s now having a rethink. That’s competing with
Gold price declined by Rs 55 to Rs 56,865 per 10 gram in the national capital on Tuesday, according to HDFC Securities. The precious metal had ended at Rs 56,920 per 10 gram in the previous trade. Silver also tumbled Rs 455 to Rs 66,545 per kilogram. “Spot gold price in the Delhi markets traded
Dollar is rather indecisive in early US session. US consumer inflation slowed less than expected in January, support Fed to continue tightening, probably for longer. However, positive risk sentiment is offsetting the boost to the greenback. Sterling, on the hand, was lifted by solid job data while FTSE hitting new record high. Elsewhere, Euro Swiss
German DAX futures -0.1% UK FTSE futures +0.1% This comes as we see US futures also keep little changed, with all eyes on the US CPI data later today. As such, expect European trading to be more pensive and cautious until we get to the main event in US trading later.
New York, Oil prices eked out modest gains as market participants weighed Russia’s plan to cut its oil production. The West Texas Intermediate (WTI) for March delivery rose 42 cents, or 0.53 per cent, to settle at $80.14 a barrel on the New York Mercantile Exchange. Brent crude for April delivery added 22 cents, or
Selloff in Yen continues today even though 10-year JGB yield closed above BoJ’s 0.5% cap. Traders are probably positioning for a not-that-hawkish BoJ governor nomination by the government tomorrow. Dollar also softens as major European indexes rise, together with US futures. Sterling firms up ahead of a string of economic data this week, including employment
A newswire headline notes that top US and China diplomats are weighing their first meeting since the balloon incident. Given that ‘indicted’ was just a week ago, this isn’t exactly a groundbreaking achievement. It also came at the same time U.S. Secretary of State Antony Blinken had a trip planned. This headline likely refers to
Gold price jumped Rs 114 to Rs 56,982 per 10 gram in the national capital on Monday, according to Securities. In the previous trade, the precious metal had settled at Rs 56,868 per 10 gram. Silver, however, declined Rs 319 to Rs 66,802 per kilogram. “Spot gold prices in the Delhi markets traded at Rs
Dollar rises broadly in Asian session as helped by mild risk aversion. Nikkei hits a 2-week love as heavyweight technology stocks slip. Yen softens at the same time, after a former staff of the top runner for BoJ Governor Kazuo Ueda said he’s neither hawkish nor dovish, but data dependent. Kiwi and Euro are following
The pair is back up by 0.6% today, trading to 132.20 currently as we see price action swing back the other way after a brief dip below 130.00 on the news last week. Essentially, all the gains in the yen from the Ueda report has been erased now: At first, yen bulls were relieved that
Gold prices edged lower on Thursday, as the dollar steadied and after U.S. Federal Reserve officials said more interest rate increases were likely to curb inflation. FUNDAMENTALS * Spot gold was down 0.1% at $1,874.58 per ounce, as of 0054 GMT. U.S. gold futures fell 0.2% to $1,886.20. * The dollar was largely steady against
That’s a big credit card or a confusingly-small man MasterCard today reported that US retail sales were up 8.8% y/y excluding autos. January CPI numbers aren’t out yet but the December reading was +6.5% so that’s roughly 2.3% growth. Perhaps more notably, it shows a better pace than the December when sales were up 7.0%