China will release crude oil from its national strategic stockpiles around the Lunar New Year holidays as part of a plan coordinated by the United States with other major consumers to reduce global prices, sources told Reuters. The sources, who have knowledge of talks between the world’s top two crude consumers, said China agreed in
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China has suspended 182 flights from entering the country since the beginning of the year. Earlier in the week: This fits with swift and strict control measures where outbreaks have occurred. Check these out if you haven’t already: And: When to expect the next round of easings in China (spoiler – March) Its a bit
Dollar remains overwhelmingly the worst performer today, as selloff extends. There is little support from hawkish Fedspeaks, with some officials expressing openness to four rate hikes this year. Commodity currencies continue to be the biggest winners, as supported by resilient risk sentiment. In particular, US futures are pointing to higher open, and further rally could
Gold price in the national capital on Thursday jumped Rs 119 to Rs 46,919 per 10 grams, reflecting a rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,800 per 10 gram. Silver also moved up by Rs 745 to Rs 60,777 per kg
The pair is breaching the 0.7300 level today to move to its highest since 16 November. This comes as the dollar is slumping across the board, continuing from the dour mood yesterday. It’s pretty much a technical breakdown for the greenback against most major currencies, with the likes of the euro, pound, and loonie taking
Dollar’s post CPI selloff continues today and remains generally weak. For now, Swiss Franc is the second worst performer for the week, followed by Euro. Commodity currencies are the strongest, with Aussie overtaking Canadian. Sterling is mixed for now. Other markets are mixed for now, with Asian stocks lacking a clear direction. Global benchmark yields
MELBOURNE: prices slipped on Thursday, trimming big gains from the previous two sessions, amid uncertainty over near-term demand as cases of the highly contagious Omicron variant of the coronavirus surge around the globe. U.S. West Texas Intermediate (WTI) crude futures slipped 7 cents, or 0.1%, to $82.57 a barrel at 0221 GMT, after climbing 1.7%
> More comments from the White House – says inflation will moderate Fed These from WH Eco Adviser Deese Eamonn Sheridan Wednesday, 12/01/2022 | 21:44 GMT-0 12/01/2022 | 21:44 GMT-0 Earlier are here: More: Forecasters see prices moderating over the course of 2022, which is consistent with our view delay in Fed nominations is not
Dollar tumbles broadly in early US session even though consumer inflation data hit multi-decade highs. The move could be seen as a result of clearing the risk of even worse inflation reading that could force Fed’s hand. For now, Canadian Dollar is the strongest one as boosted by rally in oil prices. Sterling and Aussie
New Delhi: Gold in the national capital on Wednesday jumped Rs 228 to Rs 46,812 per 10 grams, reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,584 per 10 grams. “Spot gold prices for 24 carat in Delhi rose by Rs
It’s rather quiet as we count down to the US CPI report later in the day. As mentioned earlier, European morning trade is likely to feature a more muted and cautiously optimistic mood and that’s exactly that. The dollar is trading more mixed with light changes across the board: EUR/USD is still confined in a
Overall, Fed Chair Jerome Powell’s renomination hearings seemed to be well received by the markets. US stocks closed broadly higher overnight, followed by rallies in Asian indexes. Yen and Dollar are both under some selling pressure today. On the other hand, commodity currencies are trading higher. In particular, Canadian Dollar is lifted by the rise
NEW DELHI: Gold prices were trading flat on Wednesday as traders focused on US inflation data for rate cues after less hawkish comments from the Fed Chair, which fuelled a bullion rally last session. Fed Chairman Jerome Powell said the central bank was determined to ensure that high inflation did not become “entrenched” and that
The economic calendar was like today. However, Fed chair Powell was due testify on his renomination as Fed chair to the Senate Banking Committee. The expectations are that he will have bipartisan support, but the market was interested in hearing his take on the latest fear from the market. That is reducing the Fed’s balance
Overall mood in the market is positive today, major European indexes and US futures trading up. The question is whether US stocks, in particular NASDAQ, could build on yesterday’s strong rebound for some more gains. Benchmark treasury yields are firm globally. Gold and Silver also recover. In the currency markets, most major pairs and crosses
Gold price in the national capital on Tuesday jumped Rs 104 to Rs 46,606 per 10 grams, in line with a rally on international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,502 per 10 grams. Silver also gained Rs 408 to Rs 59,700 per kg
If anything, I’d say this owes to some continuation of flows from late yesterday after equities started turning around. The same goes for the yen, which is sitting slightly lower across the board as well. Looking at the technicals though: EUR/USD is still largely caught in rangebound territory since mid-November. The pair is up a
Overall market sentiment is rather mixed for the moment. Despite the initial steep selloff overnight, major US indexes staged an impressive come back towards the end of the session. NASDAQ even eked out a slight gain. Gold is back above 1800 handle while Bitcoin appears to be supports by 40k for now. Investors are probably