Although prices cooled down from their 14-year high hit in March, crude oil prices remain extremely volatile on uncertain macroeconomic conditions. A cut in global oil demand forecast by agencies like Energy Information Administration (EIA) and OPEC, easing tensions between Russia and Ukraine, concerns over China’s demand, and a G7-proposed price cap on Russian oil
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The US indices are closing higher on the day. The Dow was near unchanged for the week. The S&P and Nasdaq fell. The near closing levels are showing: Dow rose 200.07 points or +0.60% at 33745.90 S&P rose 18.94 points or 0.48% at 3965.43 Nasdaq rose 1.11 points or 0.01% at 11146.07 Russell 2000 rose
London copper prices were on course for a drop this week, amid concerns over the outlook for global demand and as hawkish remarks from US Federal Reserve officials sent the dollar higher. The dollar was set for a weekly gain, after comments from Fed officials dashed investors’ hopes for less aggressive monetary policy and weighed
The CFTC net speculators position report for the current week (using closing positions on Tuesday) swings to new short in the USD for the first time since July 2021. EUR net longs rose to the largest position since June 2021. The EURUSD is trading marginally lower this week (-0.25%). Last week the index moved up
gross domestic product (GDP) and employment. Thus it’s a key factor for the lifeline of our Indian population and economy’s overall productivity. ET CONTRIBUTORS The agriculture sector has experienced buoyant growth in the past two years. The sector, which is the largest employer of workforce, accounted for a sizeable 18.8 per cent (2021- 22) in
The post-CPI selloff in Dollar and rally in US stocks faded last week, after Fed officials talked down the significance of just one data point. While the greenback still lacked momentum for sustainable recovery, selloff has at least slowed. The greenback ended the week mixed together with Euro. On the one hand New Zealand Dollar
The NZD was the strongest and the CAD was the weakest of the major currencies to end the trading week. The USD was mostly higher with declines only vs the GBP and the NZD. The greenback moved the most vs the CAD at 0.47%. The dollar rose 0.43% vs the EUR. Of note late in
Oil prices rose on Friday as the dollar slipped but were headed for hefty weekly losses on expectations there will be no let-up in sharp U.S. interest rate hikes and the prospect of weaker demand from top oil importer China amid rising COVID-19 cases. Brent crude futures clawed back 67 cents, up 0.8% to $90.45
Positive market sentiment boosts Kiwi, Aussie higher but Canadian is lagging far behind as dragged down by falling oil prices. Sterling is also firm after mixed retail sales data. On the other hand, Swiss Franc and Dollar are following Loonie as the next worst performer for the data. But after all, the greenback are still
Brent crude today touched as low as $85.80 but has since bounced to $87.17. It’s near the September low and that’s a big level with the OPEC meeting now three weeks away. The weakness in crude today is curious but likely reflects worries about covid lockdowns and some technical selling. The big question is what
New Delhi: Gold prices climbed to Rs 53,000 per 10 grams this week before retreating marginally. The yellow metal has been in demand lately, rising from Rs 50,000 per 10 grams in the last four weeks. After a Rs 3,000/10 gms rally, the yellow metal is marching towards its record highs of around Rs 56,200
The forex markets continue to stay in consolidative mode in Asian session. Dollar’s recovery attempt overnight was rather short-lived. Sterling also regains some ground after initial reaction to the UK government’s new budget. Yen is also soft despite strong CPI data from Japan. Overall, New Zealand Dollar is the strongest for the week so far,
USD/JPY has dribbled lower on the day. In the Tokyo morning we had the October inflation data released. It is continuing to gain. Bank of Japan Governor Kuroda appeared in the Diet afterwards and repeated yet again that he sees the current high (for Japan) levels of inflation as only transitory and expects the cost-push
Gold prices rose, nearing three month high in Wednesday’s trade as cooling US inflation signalled bets for smaller rate hikes. Rekindled geopolitical tensions due to missile blast in Poland also pushed gold prices higher. Gold futures on were trading up by 0.48% or Rs 254 at Rs 52,999 per 10 grams. Similarly, silver futures jumped
Dollar’s recovery is starting pick up momentum in early US session, as risk off sentiment deepens. The development is reflected in broad based selloff in Australian and New Zealand Dollar. Sterling is also weak as mild reaction to UK’s new budget statement. Canadian Dollar and Euro are the firmer ones next to Dollar, while Yen
Production -10 vs -22 prior Composite -6 vs -7 prior Prices paid +22 Prices received +19 Selected comments: “Competition for new workers continues. While increasing wages and benefits, team members feel that it is not enough. We need relief from inflation, especially housing costs if we are to satisfy the expectations of our workers.” “Our
NEW DELHI: Gold prices were trading lower on Thursday, slipping on the back of a firm US dollar after better-than-expected US retail sales data clouded hopes of a smaller rate hike. On the other hand, Poland’s president on Wednesday said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears
The forex markets are still engaging in corrective trading in Asian session today. Despite stronger than expected job data, Aussie trades lower following mild risk-off sentiment. Kiwi, Loonie and Sterling are are softer. On the other hand, Dollar, Yen and Swiss Franc are the firmer ones, while Euro is mixed. For now, the selling in