Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles and an ECB rate hike stoked demand worries and returning oil supply from Libya eased supply concerns. Brent crude futures lost $3.88, or 3.6%, to $103.04 a barrel by 1224 GMT after slipping 0.4% in the previous session. U.S. West Texas
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Euro rises broadly after ECB raising interest rate by 50bps, and front-loads the exit from negative deposit rate. The central bank also maintains tightening bias. Swiss Franc is taken up by Euro too. Meanwhile, New Zealand Dollar is the worst performing one for today, together with Canadian and Yen. Dollar is mixed for now, and
Headlines: Markets: EUR leads, NZD lags on the day European equities lower; S&P 500 futures down 0.2% US 10-year yields up 2 bps to 3.056% Gold down 0.8% to $1,683.33 WTI crude down 4.6% to $95.23 Bitcoin down 2.6% to $22,646 It is a big morning in Europe with two out of three key risk
New Delhi: Gold in the national capital on Thursday fell by Rs 478 to Rs 49,830 per 10 grams amid fall in global gold prices, according to Securities. In the previous trade, the precious metal settled at Rs 50,308 per 10 grams. Silver also tumbled by Rs 1,265 to Rs 54,351 per kg from Rs
The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday’s range. BoJ’s decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed, or a bolder 50bps hike. As
The EU unanimously agreed to the measures on Wednesday afternoon, 20 July: European Union has agreed to ban imports of Russian gold And also to freeze the assets of Sberbank, Russia’s largest bank. EU officials described the new penalties as a “maintenance and alignment” package that offers clarity and guidance on the measures already imposed
NEW DELHI: Gold prices were trading almost flat on Wednesday as the weakness in the dollar was balanced by rate-hike fears by the US Fed next week. The yellow metal failed to make the most of a pullback in the dollar, with demand for bullion being restrained amid prospects of aggressive monetary policies and rising
Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for the week so far, as it’s
Prior -1.7% Market index 281.1 vs 300.0 prior Purchase index 208.0 vs 224.3 prior Refinancing index 655.7 vs 685.3 prior 30-year mortgage rate 5.82% vs 5.74% prior Ouch. That’s another steep drop in mortgage activity as both purchases and refinancing activity declined strongly in the past week. For some context, the purchase index is now
Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to Securities. In the previous trade, the precious metal finished at Rs 50,182 per 10 grams. Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. “Spot gold
New Zealand and Australian Dollar trade broadly higher on the back on improving market sentiment. Asia indexes are tracking US stocks higher. On the other hand, Dollar continues to extend its near term correction, in particular against commodity currencies. Yen is also under some pressure. Meanwhile, European majors are mixed for now, waiting for UK
Changes in the CPI m/m are expected to be lower than those in June (both headline and core) according to consensus forecasts (see pic from the calendar below). CIBC in Canada preview thoughts: While recent pull backs in the prices of oil and some agricultural commodities should provide relief in the future, it will not
Gold in the national capital on Tuesday rose by Rs 6 to Rs 50,290 per 10 grams amid firm global trends, according to Securities. In the previous trade, the yellow metal settled at Rs 50,284 per 10 grams. Silver, however, dipped by Rs 137 to Rs 55,539 per kg from Rs 55,676 per kg in
Dollar’s correction continues today and falls broadly. US stocks point to stronger extended rebound. Yen is also weak. Kiwi is currently the strongest, followed by Australian. Euro and Swiss Franc are next. In particular, Euro is lifted by reports that ECB would consider both a 25bps and 50bps hike this Thursday. Sterling also follows Euro
The dollar was already looking a little sluggish before the ECB report here and the headlines only helped to compound the softness in the greenback so far this week. EUR/USD got a shot in the arm, rising above 1.0200 and contesting a break above key technical resistance as outlined here. In turn, that set off
NEW DELHI: Gold prices retreated mildly on Tuesday on the back of a strong dollar. However, the yellow metal was range bound as investors refrained from making big bets over Fed’s meet outcome. Market participants are now anticipating a 75-basis-point hike by the Fed at its July 26-27 meeting. The European Central Bank and the
Australian Dollar trades mildly higher in Asian session, after RBA minutes affirmed that further tightening is underway. New Zealand is also supported by somewhat steady risk sentiment. Canadian Dollar is also limited after WTI crude oil rebounded and regained 100 handle. Euro and Dollar are the softer ones for now, followed by Sterling, which awaits
Goldman Sachs are concerned about ongoing inflationary pressure across the world: Price pressures have strengthened globally, driving sustained and elevated inflation that hasn’t been seen in decades. And, there is not just one driver: While inflation drivers vary across countries, the persistence of some factors, such as global supply chain issues and energy trade disruptions,