The fuel pinch continues. Petrol and diesel prices were hiked by 80 paise a litre each today, the fourth such hike in five days as oil firms continued to buckle to global crude pain. Petrol in Delhi will now cost Rs 98.61 per litre as against Rs 97.81 previously while diesel rates have gone up
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Markets: Gold down $3 to $1954 US 10-year yields up 14 bps to 2.48% WTI crude oil up 69-cents to $112.97 S&P 500 up 20 points to 4540 CHF and CAD lead, JPY lags Europe and Asia handed off a relatively quiet day to North American trading but it wouldn’t stay that way for long.
MELBOURNE – Oil prices fell about a $1 on Friday as the United States and allies considered releasing more oil from storage to cool markets and as traders faced higher costs for trading benchmark Brent futures. Brent crude futures fell $1.07, or 0.9%, to $117.96 a barrel at 0053 GMT, after sliding 2.1% in the
Euro turns slightly softer after poor German business climate reading, in particular against Swiss Franc, Aussie and Loonie. Dollar is also weak except versus Yen. Yen is trying to recover but there is no clear follow through buying. It’s the the runaway loser of the week. Overall, Aussie is set to end as the week
Prior 98.9; revised to 98.5 Current conditions 97.0 vs 96.5 expected Prior 98.6 Expectations 85.1 vs 92.0 expected Prior 99.2 That’s a big slump as the Russia-Ukraine war dampens the outlook with surging inflation pressures also likely weighing on sentiment for the most part. The drop in the expectations reading sees that fall to the
NEW DELHI: Gold prices edged lower while silver advanced in Friday’s trade. Gold futures on MCX for April delivery were trading at Rs 52,078 per 10 gram, down Rs 18 or 0.03 per cent. Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, stood at 1,087.66 tonnes. Silver futures for May delivery were
Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen’s selling looks more and more exhausted even though it’s still the worst performing one for the week, followed by Euro and the greenback. On the
JPM analysts on crude oil (in very brief) cut its Q2 demand forecast by 1.1 mn barrels a day reduced the outlook for H2 by about 500,000 bbls say the revision to forecasts are “heavily concentrated in Europe” saying the region is the centre of the geopolitical shock Oil update: (This chart is from our
Gold prices were unchanged on Thursday as the dollar gained and yields hovered near multi-year peaks, offsetting support from an escalation in the Ukraine crisis. FUNDAMENTALS Spot gold was little changed at $1,943.75 per ounce by 0131 GMT. U.S. gold futures were up 0.4% to $1,944.40. The dollar index gained on Wednesday, making gold less
Yen’s selloff resumes in early US session as selloff in bonds resume. Dollar picks up some buying after strong job data. But Swiss Franc is stronger with help from selloff in Euro. On the other hand. commodity currencies are turning weaker together with Euro, but pressure on them is still far from that on Yen.
Prior 55.5 Manufacturing PMI 57.0 vs 56.0 expected Prior 58.2 Composite PMI 54.5 vs 53.9 expected Prior 55.5 The slowdown is more marked in the manufacturing sector, as growth conditions slow and business sentiment slumps amid the Russia-Ukraine war. But the key takeaway in my view is that rates of inflation in both manufacturing and
NEW DELHI: Gold prices were trading marginally higher in Thursday’s trade as strong dollar and bond yields kept upside capped, despite the ongoing Russian-Ukraine war. Dollar and gold share an inverse relation. On the other hand, gold is sensitive to higher yields, which increases the opportunity cost of holding non-yielding bullion. On Thursday, gold futures
The forex markets are engaging in sideway trading in tight range in Asia today. The selling climax on Yen should have passed for the near term, with Yen pairs turned into consolidation mode. But the Japanese currency remains the runaway loser for the week, followed by Euro at a distant, and then Swiss Franc and
Markets: Gold up $25 to $1946 US 10-year yields down 8 bps to 2.29% WTI Crude up $5.46 to $114.73 S&P 500 down 55 points to 4456 CAD leads, GBP lags The Australian dollar rallied for the sixth straight day as it erased an early dip in North American trade and finished at the highs
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Yen is finally recovering slightly today, as selloff in bonds ease. That is by no means an indication of reversal. But the Japanese currency should be turning into a consolidation phase after recent massive selloff. Dollar is also firming up slightly too, except versus Yen and Aussie. On the other hand, the rebound in Sterling
FX is reflecting light changes on the day as we also see Treasury yields pull back from the highs earlier in the day. The dollar is mostly steady, keeping a slight advance across the board currently. But the changes are rather minimal so it is tough to really draw much conclusions for the time being.
NEW DELHI: Gold prices were trading marginally in Wednesday’s trade amid a lack of directional cues. The recent hawkish commentary by the US Fed weighed on the yellow metal, even as the downside remained restricted amid the ongoing Ukrainian crisis. On Wednesday, gold futures on MCX for April delivery were trading at Rs 51,379 per