I’m not sure if this is the peak of earnings season as measured by the number of companies reporting, but it’s certainly the peak of big names reporting. Monday morning starts off with Coca-Cola and that afternoon we get economic bellwether Whirlpool. The tech heavyweights go on Tuesday, Wednesday and Thursday, including: Microsoft Alphabet (Google)
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Oil prices fell on Friday, heading for a drop of nearly 4% for the week, burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures slid 81 cents, or 0.8%, to $107.52 a barrel
Speculations on aggressive Fed tightening intensified sharply last week after a chorus of hawkish comments from policy markets. Markets are indeed pricing in near 70% chance of federal funds rate at 1.50-1.75% by the end of first half, i.e., 125bps above current level. Stocks tumbled sharply towards the end, with DOW suffering the worst day
S&P 500 -2.8% down 136 points to 4254 Nasdaq-2.6% DJIA -2.8% Russell 2000 -2.5% Toronto TSX -1.9% On the week: S&P 500 -2.8% Nasdaq -3.8% Russell 2000 -3.1% This was the third rough week in a row for stocks and the Nasdaq is now within striking distance of an 11-month low. Unless you owned Kimberly-Clark
International gold started the week on a positive note and closed near key $2000/oz level but lost momentum and is now set for its first negative weekly close in three weeks. Gold has corrected over 3 per cent from the recent highs and is down about 1.5 per cent on the week. Gold came under
Markets: Gold down $19 to $1932 WTI crude down $2.54 to $101.23 US 10-year yields flat at 2.90% S&P 500 down 122 points, or 2.8%, to 4271 Nasdaq hits a six-week low USD leads, AUD lags For the second day, the market started out in a decent mood and imploded in a move that looks
New Delhi: Gold prices spurted by Rs 263 to Rs 52,472 per 10 grams in the national capital on Friday in line with firm global trends, according to HDFC Securities. The precious metal finished at Rs 52,209 per 10 grams in the previous trade. Silver also moved higher by Rs 500 to Rs 67,707 per
Sterling drops broadly today as weak UK retail sales data argues that the expected consumption drag from high inflation might have arrived already. Aussie is currently the second worse for the day, then Kiwi. On the other hand, Dollar is rebounding broadly, followed with help from risk aversion again. Yen also strengthens slightly in tight
The offshore yuan weakened to 6.52 against the dollar today, the lowest level since July last year. Chinese policymakers sort of disappointed on expectations for a LPR cut this week but they are making up for that in supporting the economy through other means. The evident weakening of the yuan is one of that. The
NEW DELHI: Gold prices bucked the weak global trend to rise marginally in early trade on Friday but the upside remained capped amid firm US Treasury yields and a stronger dollar. The yellow metal, meanwhile, was headed for its first weekly losses in three. Gold futures on MCX added 0.16 per cent or Rs 86
Overall markets are relatively mixed. Euro’s rebound attempt yesterday was rather disappointing, but it’s nonetheless still the best performer for the week. Dollar staged a strong rebound overnight, with help from hawkish Fed and rising yield, but there is no clear follow through buying yet. Commodity currencies were generally hammered by risk off sentiment. Yen
Reuters citing an OPEC statement they have seen: OPEC told the International Monetary Fund’s steering committee on Thursday that the surge in oil prices was largely due to the Ukraine crisis The Reuters report adds the key implication: in the latest signal that the producer group would not take further action to add supply The
New Delhi: Gold prices declined by Rs 46 to Rs 52,357 per 10 grams in the national capital on Thursday in line with weak global trends, according to HDFC Securities. In the previous trade, gold had finished at Rs 52,403 per 10 grams. Silver also declined by Rs 103 to Rs 67,968 per kg from
Euro rebounds strongly today as some ECB policymakers continued to talk up the chance of a July rate hike. Canadian Dollar is following as second strongest, continuing to be supported by strong inflation data. Dollar is not performing too badly for now, as third strongest. On the other hand, New Zealand Dollar remains under pressured
Expects consumption to continue to recover Will keep supply chains stable and smooth for both importers and exporters Well, we can only wait and see as to what these measures will be but for now, it is clear that Chinese policymakers are favouring a weaker yuan to help with the situation. The onshore currency has
NEW DELHI: Gold prices eased on Thursday, following a rebound in US treasury yields which dented sentiments for bullion demand. US bond yields have marched higher on expectations that the Federal Reserve will aggressively hike interest rates as inflation accelerates at its fastest pace in 40 years. Gold futures on MCX dropped 0.11 per cent
Inflation data were the main drivers in the forex markets in the past 12 hours. New Zealand Dollar turned slightly weaker after Q1 CPI came in lower than expected, despite surging to 30-year high. On the other hand, Canadian Dollar remains supported by the stronger than expected CPI readings released overnight. Dollar’s retreat appears to
A snippet from a recent note from BoA: Different set of priorities China’s growth profile has been dwindling down for close to a year on account of the relentless onslaught of credit and regulatory tightening across sectors. Ever since we lowered our view to neutral in Nov-2020, we have advised against adding exposure to China