TOKYO: Oil prices rose on Wednesday towards last week’s seven-year highs after data showing a fall in U.S. crude stocks underlined solid demand, but investors remained cautious ahead of an OPEC+ meeting due later in the day. Brent crude climbed 36 cents, or 0.4%, to $89.52 a barrel by 0123 GMT, after easing 10 cents
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US construction spending for December 2021 Construction spending 0.2% versus 0.7% estimate. Prior month 0.7% revised to 1.0% year on year gain in construction spending is 9.0% value of construction in 2021 was $1589.0 billion which is 8.2% above the $1469.2 billion spent in 2020 private construction rose 0.7% residential construction rose 1.1% nonresidential construction
Dollar drops broadly today in rather mixed markets. Firmer risk sentiment might be a factor. Yet, Swiss Franc is currently the strongest, followed by Kiwi and then Aussie. Yen is also just steadily mixed. On the other hand, Canadian Dollar is also weak, without much support from stronger than expected GDP data. Euro is also
New Delhi: Gold in the national capital on Tuesday rallied Rs 333 to Rs 47,844 per 10 grams in line with firm global trends along with rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,511 per 10 grams. The rupee dipped 14 paise to close at 74.79
Japan’s Masato Kanda is out with some comments on the yen to Reuters: There are both positive and negative effects of wa weak yen, it’s hard to say which is bigger Weak yen pushed up the import cost of energy and food, increasing household burdens The value of a weak yen for exporters isn’t as
The markets are generally steady in Asian session. Dollar is paring some recent gains while Yen and Swiss Franc soften. Trading in Asia would likely be subdue for the next few days on Lunar New Year holidays. But volatility is anticipated in the week as a whole considering the massive amount of key events featured,
TOKYO: Oil prices edged higher on Tuesday, trading near seven-year highs hit last week, as investors bet supplies will stay tight, with a limited production hike by major oil producers and a strong post-pandemic recovery in fuel demand. Brent crude for April delivery was up 14 cents, or 0.2% at $89.40 a barrel at 0150
Headlines: Markets: USD flat, AUD leads, Scandis lag European equities broadly higher; S&P 500 futures down small US 10-year yields: 1.81%, up 3bps Gold: flat @ 1792 WTI: up 80cents/0.9% @ $87.50 Bitcoin: down 1.45% @ 37,250 It’s been a morning of digesting hawkish repricing with seemingly everyone on the Street looking to up their
Euro rebounds notably today as Germany 10-year yield turns positive. Nevertheless, Australian Dollar is even stronger as markets await RBA rate decision. On the other hand, Dollar and Yen are paring some recent gains. Sterling and Canadian Dollar are mixed. Technically, EUR/GBP appears to be drawing support from 0.8304. Rebound from current level, followed by
Gold price in the national capital on Monday declined marginally by Rs 5 to Rs 47,507 per 10 grams in line with weak international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,512 per 10 grams. Silver also dipped by Rs 27 to
The recent rally in oil has been a tough one to chance, even for the bulls. Yes, there’s lots to like about medium-term oil prices but omicron is cutting demand — particularly in aviation — and China is locking entire cities down. Yet here we are near seven-year highs after six straight weeks of gains
TOKYO: Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. Brent crude futures climbed 49 cents, or 0.6%, to $89.83 a barrel at 0310 GMT, after falling 62 cents during the previous day. However,
There’s an old saying in markets: So goes January, so goes the year. Investors better hope it’s not true. The S&P 500 currently sits higher by 36 points on the day to 4362. That puts the month-to-date move at -8.47%. The all-time worst January was in 2009, which produced an 8.6% decline. To beat that,
NEW DELHI: Gold prices were flat on Friday, marginally higher, but the yellow metal is set for its sharpest weekly decline since November 2021. Markets digested the US Federal Reserve’s policy tightening plans for 2022 that propelled the dollar index to a multi-month peak. Gold futures on MCX gained 0.10 per cent or Rs 46
MUFG Research maintains an EUR/CAD short and they’re doubling down in their weekly trade of the week. They are short the pair targeting 1.3500 with a stop at 1.4670. Spot is currently at 1.4257. “We are maintaining a short EUR/CAD trade idea. The trade idea is to reflect widening policy divergence between teh BOC and
Mumbai: India’s gold consumption surged to 797.3 tonnes in 2021, on the back of recovery in consumer sentiments and pent-up demand post COVID-19-related disruptions and the bullish trend is set to continue this year as well, according to the World Gold Council (WGC). WGC in its Gold Demand Trends 2021 Report said India’s total gold
The 3 major indices (Dow, S&P and Nasdaq) rode a wave of buying higher on the day, closed at the highs and just like that, erased the declines for the week. The Dow, S&P and Nasdaq each had best day of the new year Dow and S&P posted their first weekly gain in four weeks
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly to end as the strongest one. Nevertheless, reactions in the stock markets, while wild, were not pessimistic. Sterling followed as