India is preparing a roadmap for setting up floating storage facilities for liquefied natural gas (LNG) at all its major ports, a senior government official aware of the matter said. “A plan is in the works … It would be finalised by the fiscal year-end,” the official told ET. The project is estimated to cost
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What are the key events and releases for next week’s trading: Tuesday, November 29: Canada GDP 8:30 AM ET. Estimate 0.2% versus 0.1% last month US consumer confidence 10 AM ET. Estimate 100.0 versus 102.5 last month Wednesday, November 30: US ADP nonfarm employment change estimate, 8:15 AM ET. Estimate 195K versus 239K last month
Last week, copper and other base metals remained under pressure as the US dollar rose following the US bond yields, mainly because the hawkish remarks of the US Fed weakened market expectations of a suspension of rate hikes. Prices also started the new week on a weaker note as fresh COVID-19 curbs in the top
The expectations of a smaller Fed hike in December was affirmed by FOMC minutes last week. Dollar ended as the worst performer, following mild risk-on sentiment. Canadian Dollar was the second worst as dragged down by falling oil prices. Meanwhile, Euro was the third weakest suffering some selloff against Sterling. Talking about the Pound, it’s
The major US stock indices are closing the session with mixed results today: Dow industrial average rose 152.95 points or 0.45% at 34347.04 S&P index fell -1.16 points or -0.03% at 4026.11 NASDAQ index fell -58.97 points or -0.52% at 11226.35 Russell 2000 rose 5.67 points or 0.30% at 1869.19 For the trading week, the
Gold prices were flat on Friday, but they were set for a small weekly gain buoyed by the dollar’s overall retreat on a perceived dovish tilt to the U.S. Federal Reserve’s interest rate hike strategy. FUNDAMENTALS * Spot gold was little changed at $1,753.47 per ounce by 0016 GMT. U.S. gold futures rose 0.5% to
With the US traders returning from the Thanksgiving Day holiday for an abbreviated session and the World Cup going on, the day was set up to be somewhat limited. The strongest to the weakest of the major currencies The USD did move higher in early NA trading. However, as debt market rates ticked higher partly
New Delhi: Gold prices were trading flat on Friday, headed for a weekly gain on the back of the weak US dollar after dovish tilt in Fed’s stance. The Fed’s signalling of a slowdown in the pace of rate hikes took pressure off global peers to keep on raising rates and offered relief to emerging
Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows as second as supported by retail
The Thanksgiving holiday period will make for a quiet one in trading today. The US stock and bond market will be open later but both will observe early closes. Typically, this counts as more of another holiday in general so don’t expect liquidity conditions to pick up. Major currencies aren’t doing much, with dollar pairs
Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13 cents, or 0.2%, to trade at
Dollar is sold off broadly after FOMC minutes indicated that a “substantial majority” of policymakers judged that slowing rate hike would “soon be appropriate”. For now, New Zealand Dollar is the strongest for the week, supported by RBNZ’s big rate hike. It’s followed by Sterling, and then Swiss Franc. Canadian Dollar and Yen are lagging
European stock traders are leaving for the day with decent gains in most of the major indices. The UK FTSE 100 is the laggard with a small gain. The final numbers are showing: German Dax, +0.70% Frances CAC, +0.42% UK’s FTSE 100 +0.02% Spain’s Ibex was a 0.68% Italy’s FTSE MIB .0 .63% in the
Gold prices rose on Thursday after the minutes from the US Federal Reserve’s latest policy meeting signalled slower interest rate hikes. The majority of the US Fed policymakers agreed it would ‘likely soon be appropriate’ to slow the pace of interest rate hikes, the readout of the November 1-2 meeting showed. Gold futures on were
Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the US markets are on holiday today,
US markets will be closed today in observance of Turkey Day and they will also observe early closures tomorrow as well. Typically, the day after Thanksgiving also counts as a bank holiday of sorts since most people will take the day off. As such, liquidity conditions will be much thinner amid a lack of market
Gold prices firmed above the key $1,750 an ounce level on Thursday, consolidating gains after minutes of the U.S. Federal Reserve’s latest policy meeting signalled slower interest rate hikes. FUNDAMENTALS * Spot gold rose 0.3% to $1,754.08 per ounce by 0033 GMT. U.S. gold futures advanced 0.5% to $1,754.30. * A “substantial majority” of Fed
Sterling surges broadly today, shrugging off PMI data which indicates extended weakness in the economy. It’s even over-powering New Zealand Dollar, which was lifted by RBNZ’s jumbo rate hike. On the other hand, selling is focusing on Dollar, Canadian and Australia, while Yen is also on the weak side. Euro is mixed, and it’s clearly