The most volatile year ever for natural gas futures has taken another sharp turn recently. A forecast of unexpected warm weather and reports of a delay in restarting a big LNG export facility in the US was among the major driving factors. However, the commodity was one of the best-performing asset classes in 2022. A
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Markets: Gold up $6.50 to $1795 US 10-year yields up 9.6 bps to 3.59% WTI crude oil flat at $71.45 after touching $70.06 S&P 500 down 0.7% NZD leads, CAD lags The dollar tried to rally on a hot PPI number for the second month in a row but the skeptics one the day as
Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas
Dollar is trying to recover in early US session, with help from 10-year yield which reclaims 3.5% handle. Yet again there is now clear follow through buying. News flow is slow today, without much surprise from US PPI data. As Fed is already in a blackout period, there is no comment from US monetary policy
In general, traders can mostly ignore the monthly PPI data. It’s a noisy reading on pipeline inflation and doesn’t always flow through to CPI in ways that are easy to predict. That’s not the case right now. Last month’s reading on PPI caused the largest move I’ve seen on the release and it was released
New Delhi: Gold prices were trading higher on Friday, supported by the weakness in the US dollar ahead of key inflation data and the US Federal Reserve meeting next week. Most investors expect the Fed to deliver a 50-basis point rate hike at its final meeting of 2022 scheduled on December 13-14. Market participants also
Dollar is again under some selling pressure in Asian session and looks set to resume recent decline against European majors. Yet, with trading subdued, it’s doubtful whether selloff in the greenback would sustain. Traders would more likely hold off large bets until next week’s FOMC rate decision and economic projections. As for the week, Yen
Japan industry minister Nishimura is on the wires saying: Must be careful about tax hikes for defence buildup not to curb investment, wage hikes. Meanwhile FM Sukuki adds: difficult to treat bond issuance as a stable funding sources for defence spending cannot say any specific details on tax hikes to fund defence spending must stick
Gold prices rose Rs 211 to Rs 54,270 per 10 grams in the national capital on Thursday, amid gains in the precious metal in overseas market, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 54,059 per 10 grams. Silver also jumped Rs 593 per kg to Rs 66,662 per
Australia Dollar leads commodity currencies higher, in otherwise still very quiet markets today. Prospect of further easing of restrictions is probably giving some industrial metals and oil prices a lift. But the positive sentiment is not much reflected in the global stock markets. Dollar is back under selling pressure, followed by Yen. European majors also
The US economic calendar is light today but initial jobless claims could be a market mover at the bottom of the hour. The market is beginning to sniff out economic weakness and jobless claims are a solid real-time indicator of the jobs market. The consensus is 230K, up from 225K last week. We’re also going
New Delhi Gold prices were trading flat as the dollar recovered slightly, while market participants await further direction on US rate hikes from the Federal Reserve meeting next week. Most investors expect the Fed to deliver a 50-basis point rate hike at its final meeting of 2022 scheduled on December 13-14, 2022. Market participants also
Trading in the currency markets continues to be rather subdued. Canadian Dollar remains the weakest together Yen. The dovish rate hike by BoC overnight didn’t trigger more selloff, though. Yen is having little reaction to falling US and European benchmark yields. Dollar and Euro are the firmer ones but stay inside familiar range. Aussie and
Bloomberg (gated) carry the report saying the Biden administration is in negotiations with the Netherlands re controlling exports of chipmaking equipment to China. The new export limits could bar the sale of equipment capable of making chips designated as 14 nanometers or more advanced. Agreement on the Dutch curbs could come as soon as January,
Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply. Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes
Euro and, to a lesser extent, Sterling, are picking up some buying today but both are stuck in range against the greenback. There is no clear unified theme in the markets. Canadian and Australian Dollar are weak, but New Zealand Dollar is strong. Swiss Franc is trailing other Europeans higher but Yen is heading down,
Prior -0.8% Market index 204.2 vs 208.1 prior Purchase index 175.5 vs 181.0 prior Refinance index 340.8 vs 325.5 prior 30-year mortgage rate 6.41% vs 6.49% prior Mortgage activity declined once again in the past week, this time led by purchases as refinancing activity picked up slightly after the sharp decline in the week prior.
New Delhi: Gold prices ticked up on Wednesday as the dollar weakened slightly, but moved in a relatively narrow range as investors looked to gauge the pace of rate hikes by the US Federal Reserve. Fed fund futures are expecting a 91% chance of a 50-basis point (bps) rate increase in the December meeting, said