Powerful Turkey earthquake – Turkish Government requests International Aid BOJ’s Kuroda: CPI sustainable at 2%, accompanied by wage growth, has not yet been achieved BOJ Kuroda says will seek to hit 2% inflation in a stable & sustainable manner Goldman Sachs raise their target for the S&P500 to 4000 in 3 months (from 3600 prior)
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Oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset looming slumps in other major economies. Brent crude futures rose 16 cents, or 0.2%, to $82.33 a
The Baker Hughes rig count fell -12 to 759. That was the lowest total rig count since September 2022. Oil rigs fell -10 to 599. NatGas rigs fell -2 to 158. The total fall of -12 was the biggest fall for a week going back to June 2020. The price of crude oil is continuing
Gold plays an important role in the Indian economy. It is considered a safe form of savings and investment among individuals, and it is an integral part of traditional ceremonies. This metal is considered the best collateral for loans and the precious metals industry is a significant source of employment in the country. The demand
WTI crude oil futures settled at $73.39 today. That was down -$2.49 or -3.28%. The high price reached $78.00 today. The low reached $73.13. The price traded to the lowest level going back to January 23. The low for the year reached $72.46 back on January 5th. The cycle low from December reached $70.08. For
New Delhi, Gold price tumbled Rs 681 to Rs 57,929 per 10 grams in the national capital on Friday amid a decline in rates of precious metal globally, according to the HDFC Securities. The yellow metal had ended Rs 58,610 per 10 grams in the previous trade. Silver also plummeted Rs 2,045 to Rs 70,335
An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD – helping Russia to de-dollarise its economy. Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars India’s top bank, the State Bank
Gold prices exhibited extreme volatility in the week ending February 3 as traders had to wade through the deluge of starkly contrasting developments and data that swung the pendulum to extremes before the dust finally settled in favor of bears. Seemingly dovish Federal Reserve, as it failed to sound convincingly hawkish at the FOMC meeting
With the help from strong economic data, Dollar struck back to end as the strongest one, after a week full of heavy weight events. Traders might start to give up on fighting the Fed on the topic of terminal interest rate and the timing of a cut, given the underlying resilience of the economy. At
The US jobs report was – as Fed’s Daly put it – a “wow” number. The Non Farm Payroll increased by a whopping 517K. The prior two months were revised higher by 71K. The combined total of 587K far outpaced the expectations of 185K. Wow is right. The unemployment rate moved down to 3.4% (expected
Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China. Brent crude futures gained $1.16, or 1.4%, to $83.33 a barrel by 1456 GMT,
Dollar rebounds strongly and broadly in early US session after a set of stellar job data that blows past expectations. Stock futures dive on renewed concern that interest rate will stay high for lower while benchmark treasury yield rebounds. The question now is whether the greenback could overwhelm Yen and Swiss Franc to end the
ISM Non Manufacturing index Nonmanufacturing PMI index 55.2 versus 50.4 estimate. Prior month 49.2 nonmanufacturing business activity index 60.4 versus 54.5 estimate. Prior month 53.5 employment index 50.0 versus 49.4 last month new orders index 60.4 versus 45.2 last month prices paid index 67.8 versus 68.1 last month new export orders 59.0 versus 47.7 last
Gold prices ticked up on Friday as markets digested recent comments from Federal Reserve Chair Jerome Powell, but the precious metal was headed for its biggest weekly fall since November after a 2% drop in the previous session. FUNDAMENTALS * Spot gold rose 0.2% to $1,916.34 per ounce by 0042 GMT, after shedding 2% in
Yen is stealing the show in the week of heavy weight events, powering up broadly with help of broad based decline in US and European treasury yields. Swiss Franc is following together with Euro while Dollar is just mixed. On the other hand, Sterling is the worst perform despite BoE rate hike, followed by Aussie
China Caixin / S&P Global Services PMI for January, comes in at 52.9, its first expansion in five months expected 51.6, prior 48.0 Composite 51.1 prior 48.3 From the commentary accompanying the data, in summary Both services supply and demand moved into expansion. The gauges for business activity and total new business both came in
Gold price rallied Rs 770 to a record high of Rs 58,680 per 10 grams in the national capital on Thursday amid a jump in precious metal prices internationally, according to Securities. In the previous trade, the yellow metal had settled at Rs 57,910 per 10 grams. Silver also zoomed Rs 1,491 to Rs 71,666
Euro retreats notably even after ECB hikes 50bps and expresses the intention to do the same in March. Sterling is also trading lower after BoE hikes by 50bps as expected. Yen is currently the stronger one with help from extended fall in US and European benchmark treasury yields. Dollar, on the other hand, has turned