The official also says that the US is eyeing what OPEC+ will decide at its next meeting on 3 August and then reassessing the situation. In any case, it’s hard to imagine Biden’s visit resulting in any unilateral increase in oil output from the Gulf countries. Any such decision will have to be done in
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NEW DELHI: Gold prices were steady in Friday’s early trade but looked set for a fifth straight weekly loss. Gold futures on were marginally lower about 0.06 per cent or Rs 31 at Rs 50,197 per 10 grams. However, silver futures traded lower by 0.23 per cent or Rs 129 at Rs 54,906 per kg.
Dollar is staying is the strongest one for the week, as talks of a 100bps hike at the July FOMC meeting heat up. But upside momentum in the greenback hasn’t been really too convincing, except versus Yen. EUR/USD is still trying hard to defend parity for now. Yen, on the other hand, is staying broadly
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russia’s war
Dollar stays strong in early US session after release of another record print of PPI inflation. Buying of Dollar is currently concentrated again Yen and Canadian. But the moves in Aussie and European majors are also picking up. Loonie is the worst performing one today, despite the mega 1% rate hike by BoC yesterday. It’s
> Yellen: US inflation remains ‘unacceptably high’ Yellen says that bringing inflation down is the Biden administration’s top priority Justin Low Thursday, 14/07/2022 | 08:00 GMT-0 14/07/2022 | 08:00 GMT-0 Russia-Ukraine conflict causing negative spillover effects Particularly on higher energy prices and rising food insecurity ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING
NEW DELHI: Gold prices dropped on Thursday after red hot US inflation numbers spooked investors, stoking huge rate hike fears in the upcoming Fed policy meeting. The Federal Reserve is seen ramping up its battle with sky-high inflation with a supersized 100 basis points rate hike at its policy meeting on July 26-27. Gold futures
Yen’s selloff continues in Asian session today, on expectation of further divergence in BoJ’s policy with other major central banks. BoC’s mega 100bps hike overnight prompted talks that Fed could follow later in the month, given that headline consumer inflation is showing no sign of even plateauing. Dollar remains the strongest one for the week,
Markets: Gold up $7 to $1732 US 10-year yields down 5 bps, US 2-year yields up 9 bps S&P 500 down 17 points to 3801 WTI crude oil flat at $95.76 CAD leads, JPY lags This was a wild day of surprises and unexpected market moves but when you stand back and inspect the overall
Gold prices declined by Rs 85 to Rs 50,487 per 10 grams in the local market here on Wednesday, according to securities. In the previous trade, the precious metal closed at Rs 50,572 per 10 grams. Silver prices rose by Rs 161 to Rs 56,179 per kg from Rs 56,018 per kg in the previous
Dollar rises in early US session after data shows that headline consumer inflation accelerated once again in June, to the highest level since 1981. Yen is currently the worst performing one on rise in US and European benchmark yields. But there is prospect for recovery in Yen, except versus Dollar, if risk off sentiment intensifies.
Strong policy intervention needed on energy use Or else the world economic recovery will be at risk High fuel prices has dented oil consumption in OECD but developing countries saw rebound Higher prices, deteriorating economic environment have started to take a toll on demand Just a bit of elaboration on both sides of the story
Malaysian palm oil futures plunged more than 6% on Wednesday due to weak July exports and as fears of renewed COVID-19 curbs in China sparked a selloff in rival Dalian oils. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange slid 276 ringgit, or 6.71%, to 3,840 ringgit ($866.62) a
Sterling is in recovery today, and it’s supported by better than expected monthly GDP data. Yen is currently the softer one. But overall trading is quiet in the currency markets. RBNZ’s rate hike doesn’t give any lift to Kiwi. Canadian Dollar is range bound, awaiting BoC rate decision. Meanwhile, Dollar is consolidating recent gains, awaiting
Oil has been remarkably volatile this month but also remarkably difficult to explain. Move of more than 5% have become routine and 10% moves not uncommon. What’s making it especially tough for oil traders is the lack of a correlation with any kind of news or events. Today’s sharp drop doesn’t correspond with moves in
Oil prices fell sharply on Tuesday on a strong dollar, demand-sapping COVID-19 curbs in top crude importer China and fears of a global economic slowdown. Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48. U.S. West Texas Intermediate crude was down
Dollar’s rally continues today and breached parity against Euro for the first time in two decades. Nevertheless, the greenback seems to be losing some momentum since then, in particular against Yen. There is prospect of a deeper retreat for Dollar as 10-year yield is also weakening slightly. Yen is currently the stronger one for today,