via Newsquawk – Always awesome Euro Market Open (incl: podcast) APAC stocks traded mixed following last Friday’s post-NFP losses on Wall St 6 Things You Need to Know APAC stocks traded mixed following last Friday’s post-NFP losses on Wall St; European equity futures are indicative of a firmer open DXY traded flat overnight but remained
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Citi Research on Monday raised its quarterly oil price forecasts for this year and its year-average outlook for 2023, because additional supply from Iran looked heavily delayed, adding to tighter market balances. Delay in Iran sanctions relief is the main factor tightening balances, Citi said. The bank now factors in Iran sanctions relief beginning in
Major Asia indexes trade mildly higher today but the forex markets are quiet. Trading will likely be subdued ahead with Swiss, France and Germany on bank holiday, while the US economic calendar is empty. But an eventful week will kick start with RBA rate decision tomorrow, followed by ECB on Thursday. Then the week would
The major US stock indices are ending the day lower led by the NASDAQ index which declined by 2.4% For the shortened trading week, the indices were down 3 of the 4 trading days. After snapping a 7 week decline in the S&P and NASDAQ index ended 8 week decline in the Dow industrial average,
Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while
MON: Chinese Services PMI Final (May). TUE: RBA Announcement; EZ Sentix (Jun); EIA STEO. WED: RBI Announcement; NBP Announcement; Japanese GDP Final (Q1); EZ Employment Final (Q1) and GDP (Q1 Revisions). THU: ECB Announcement; Chinese Trade Balance (May). FRI: CBR Announcement; Chinese Inflation (May); Norwegian CPI (May); US CPI (May); Canadian Labor Market Report (May);
Gold prices on Friday increased by Rs 57 to Rs 51,326 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 57 or 0.11 per cent at Rs 51,326 per 10 grams in a business
Austria is opening up part of its reserves of fuel. Releasing 112,000 tons of diesel & 56,000 tons of gasoline to cover loss of production at a key refinery. The plant was hit by whats described as a ‘mechanical incident’ on Friday. Info comes via Reuters, adding: release should be enough to cover the loss
After days of mixed trade near the $1850/oz level, gold edged up and tested the highest level since early May indicating that bulls are becoming more active. However, with a late-week sell-off, it ended with a minor decline for the week, it’s first in three weeks. Gold bulls became active amid increased volatility in the
It’s another poor week for Yen following the rally in benchmark treasury yields in US and Europe. It should be noted again that BoJ has a 0.25% cap on 10-year JGB yield, and thus, gaps are widening. Sterling was a distant second weakest, on risks of stagflation while Swiss Franc also softened. Canadian Dollar was
The US employment data was released today with nonfarm payroll adding another 390K jobs. That comes after a 436K jobs increase in the prior month (was 428K). The expectations for the month was for 325K. Although lower than the prior month, it still represented a solid gain at this point in the cycle. Since January
Steel prices in the domestic market have fallen by almost a tenth in the two weeks since the Centre levied export duty on the alloy, a trend underscored by the seasonal slowdown in demand. Prices of domestic benchmark hot-rolled coil (HRC) steel at the traders’ end have slipped by about 8% or ₹5,500 to about
The price of WTI crude oil futures are settling at $118.87. That’s up $2 or 1.71%. The high price today reached $119.42. The low price extended to $115.23. One week ago today, the price closed at $115.07. That puts the gain for the week at $3.80 or 3.3%. The high for the week reached $119.98
Gold prices rose by Rs 294 to Rs 51,236 per 10 grams in the national capital on Friday, according to Securities. In the previous trade, the yellow metal finished at Rs 50,942 per 10 grams. Silver also zoomed by Rs 523 to Rs 62,577 per kg from Rs 62,054 per kg in the previous trade.
Dollar jumps broadly in early US session after stronger than expected headline non-farm payroll numbers. For now, the greenback is still behind Canadian and Australian Dollar in the weekly race, however. On the other hand, Yen’s selloff is extending again, as pressured by strong rally in global benchmark treasury yields. European majors are mixed, with
This is referring to a data entry error, Bloomberg with the report, citing people familiar: A trader in the firm’s Delta One trading unit in London was working from home during a bank holiday on May 2 when the person incorrectly added an extra zero to a trade early in European market hours. a five-minute
Gold prices inched up marginally to a month’s high on Friday, thanks to a muted US dollar that has added to the sheen of the yellow metal. Bullion was on track for the third straight weekly gain. Gold prices advanced amid a retreat in the dollar index and disappointing macroeconomic data from the US, said
Commodity currencies remain in the driving seat for the week, with Aussie having a slight upper hand over Loonie. Both are supported by firmer risk sentiments, as well as expectations for more tightening. Yen is the runaway loser for the week and looks set to resume broad based down trend. Dollar is mixed for now,