Inflation is back on the agenda next week with the market looking for a whopping 1.2% m/m increase in US prices due largely to commodity price jumps after the dawn on the Ukraine war. That will push the y/y rate to 8.5% and keep the bond market on eggshells. Monday: Bostic Bowman Waller Evans 3-year
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Oil was walking the technical razor’s edge yesterday as it tested the March low. It held though and bounced. Another dip was bought today with some strength kicking in before settlement. That highlights some physical demand and how resilient the market is despite massive global releases from strategic reserves. It gained $1.30 in the final
The major US indices are closing mixed with the Dow industrial average higher, while the S&P, NASDAQ and Russell 2000 are all lower NASDAQ and S&P is down for the third time in four trading days S&P and NASDAQ have the first weekly loss in four weeks All three major indices close lower for the
Markets: Gold up $12 to $1944 US 10-year yields up 5 bps to 2.70% WTI crude up $1.78 to $97.80 S&P 500 down 12 points to 4488 CAD leads, NZD lags The US dollar surged in early New York trade then gave it all back. The rally in the dollar had some backing as Treasury
There’s no end in sight to the lockdown measures restricting 25 million people and the world’s largest port in Shanghai. Daily infections rose to 23,624 nationally in China with the vast majority in Shanghai. A new round of mass testing was ordered and lockdowns are no expected to last through the month. Difficulties in getting
TOKYO: Oil futures slid on Wednesday, extending losses from the previous day, as a stronger U.S. dollar prompted fresh selling while data showing a build in U.S. crude stocks and Shanghai’s extended lockdown fuelled fears of slower demand. Brent crude futures fell 97 cents, or 0.9%, to $105.67 a barrel, while U.S. West Texas Intermediate
April 6: Gold eased on Wednesday as hawkish comments from U.S. Federal Reserve officials boosted the dollar and Treasury yields to multi-year highs, denting the safe-haven metal’s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,920.87 per ounce, as of 0114 GMT. U.S. gold futures fell 0.3% to $1,920.90. * The dollar scaled a
MELBOURNE: Oil prices clawed back some losses on Thursday after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia. Brent crude futures climbed $1.32, or 1.3%, to $102.39 a barrel at 0119 GMT, while
NEW DELHI: Domestic gold prices were trading flat on Thursday as a strong US dollar following hawkish US Fed minutes dented demand for the yellow metal. Gold futures on MCX were down 0.03 per cent or Rs 15 down at Rs 51,611 per 10 grams. Silver futures were trading higher by 0.04 per cent or
Gold prices inched lower on Thursday as the U.S. dollar firmed after minutes of the Federal Reserve‘s March meeting indicated an aggressive stance to combat inflation, denting the safe-haven metal‘s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,922.08 per ounce by 0125 GMT. U.S. gold futures rose 0.2% to $1,926.10. * The dollar
India may find it difficult to grow faster than 8% in FY23 if crude prices persist at the current level for too long, the finance ministry said on Thursday, warning the Russia-Ukraine conflict poses an upside risk to inflation as well. The government is exploring all viable options, including import diversification, to procure crude at
New Delhi: Gold prices on Thursday rose by Rs 42 to Rs 51,638 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 42 or 0.08 per cent to Rs 51,638 per 10 grams in
For India’s fuel consumers, reprieve continues for the third straight day as petrol and diesel prices remained unchanged. Since March 22, fuel prices have seen a Rs 10 a litre jump after 14 revisions. Petrol in Delhi retails at Rs 105.41 per litre, while diesel is Rs 95.87 per litre to Rs 96.67. In Mumbai,
NEW DELHI: Gold prices dropped during early trade on Friday as a stronger US dollar dimmed down the demand for safe-haven metal. A stronger US dollar makes gold less attractive for other currency holders. However, gold is being supported by the Ukraine uncertainty, rapid inflation, and the still persistent COVID-19 pandemic. Gold futures on MCX
Australian Dollar rises broadly after a hawkish twist in RBA statement, which hints at earlier rate hike. New Zealand Dollar is following closely as second strongest for now. On the other hand, Dollar and Euro are under some selling pressure. Yen and Swiss Franc are mixed, awaiting more guidance from overall risk sentiment. Technically, focus
Euro falls broadly today on expectation that EU is going to impose another round of sanctions against Russian following war crimes in Ukraine. Additionally, investor confidence data indicates the war in Ukraine is pushing Eurozone into recession. Sterling and Swiss Franc are broadly weak too. Commodity currencies are currently the stronger ones while Dollar and
Euro is trading broadly lower today, as EU announces the fifth package of sanctions against Russia. As European Commission President Ursula von der Leyen said, “Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population.” The sanctions include ban of Russia coals, access to EU ports and transaction banks of four key Russian
Dollar trades broadly higher overnight together with treasury yields on hawkish comments from Fed officials. The green back remains firm in Asian session today. Though, Aussie remains the strongest one for the week so far, followed by Kiwi. Euro is the worst performing one, followed by Yen and then Swiss Franc. Technically, EUR/USD’s break of