SINGAPORE: A coordinated release from government oil reserves led by the United States may add about 70 million to 80 million barrels of crude supply, smaller than the more-than-100 million barrels the market has been pricing in, analysts at Goldman Sachs said. “On our pricing model, such a release would be worth less than $2/bbl,
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Markets are trading in mild risk off sentiment, while treasury yields also surge. New Zealand Dollar is leading other commodity currencies lower, and Sterling is week too. On the other hand, Euro and Swiss Franc are currently the stronger ones, followed by Dollar and Yen. But overall, it should be noted that Euro’s recovery is
The Reserve Bank of New Zealand Monetary Policy Statement is due at 0100 GMT. A cash rate hike of 25bps is widely expected, with some expecting 50bps. Previews: Otherwise on the agenda for the session: 2215 GMT from the Reserve Bank of Australia Panel participation by Michele Bullock, Assistant Governor (Financial System), on Central Bank
New Delhi: Gold in the national capital on Tuesday plunged Rs 810 to Rs 46,896 per 10 gram reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,706 per 10 gram. Silver also cracked Rs 1,548 to Rs 62,720 per
Dollar surged overnight after Fed Chair Jerome Powell was nominated for a second term by US President Joe Biden. The greenback stays firm in Asian session and is ready to extend its near term rally. On the other hand, New Zealand Dollar is trading notably lower, as traders are probably pricing out the chance of
Latest data released by Markit – 23 November 2021 Prior 54.6 Manufacturing PMI 58.6 vs 57.3 expected Prior 58.3 Composite PMI 55.8 vs 53.2 expected Prior 54.2 The French and German readings earlier served as a prelude to the beats in the overall Eurozone report here, reaffirming a modest improvement in business activity in both
NEW DELHI: Gold and silver futures prices were trading with marginal gains as low level buying was seen early on Tuesday after a sharp fall a day prior. However, the gains were checked as dollar rose. The dollar index held near a 16-month peak after Biden on Monday nominated Fed Chair Powell for a second
Goldman Sachs are eyeing the flash PMIs for November for upside surprises as posted yesterday. We’ll have to wait to get the preliminary PMIs from Europe etc. but they kick off from Australia on Tuesday, 23 November 2021. 2145 GMT New Zealand Retail sales for Q3 expected -10.5% q/q (lockdown impact), prior 3.3% prior 33.3%
New Delhi: Gold price in the national capital on Monday gained marginally by Rs 17 to Rs 47,869 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,852 per 10 gram. Silver surged Rs 444 to Rs 64,690 per kilogram from Rs 64,246
The forex markets are generally staying in tight range in Asian session, digesting last week’s moves. Euro remains generally soft and looks vulnerable to extend the near term decline, in particular against commodity currencies and Yen. Sterling is so far resilient, awaiting more BoE officials to speak up their mind regarding the chance of an
Latest data released by the SNB – 22 November 2021 Domestic sight deposits CHF 646.7 bn vs CHF 644.1 bn prior Prior week’s release can be found here. Surprisingly not a meaningful increase in overall sight deposits even as EUR/CHF broke to fresh lows since 2015 on Friday last week. Perhaps the SNB is biding
NEW DELHI: Gold and silver futures prices were trading flat with negative bias on Monday as commentary from central banks suggests there could be a rate hike earlier than expected, which will be detrimental to bullion counters. Bundesbank president Jens Weidmann publicly contradicted the European Central Bank’s official line on Friday, warning that inflation may
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -8.87 mmb to 1223.87 mmb in the week ended November 12. Crude oil inventory dropped -2.1 mmb to 433 mmb, compared with consensus of a +1.4 mmb increase. Inventory increased in 3 out of
From the PBOC on Monday 22 November 2021 is the monthly Loan Prime Rate setting (LPR) 1 year LPR %5 year LPR %These benchmark rates have been unchanged for 18 months and given the People’s Bank of China (PBOC) left the interest rate on its medium-term loans (MLF) unchanged last week unchanged is expected again
South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometer in length, the much-coveted hoard could be worth about $5 billion at current prices. In the esoteric world of aluminum, those in the know say the stockpile in Vietnam is the biggest they
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TOKYO: U.S. was under pressure on Thursday, adding to an overnight plunge on a Reuters report that the United States was asking major oil consumers like China and Japan to consider a coordinated release of oil reserves to lower prices. The bid by the U.S. administration to shock markets comes as inflationary pressures, partly driven