The markets have turned a bit mixed last week and have likely entered into a near term consolidative mode already. Dollar ended broadly lower even though traders continued to add their bet on a Fed rate hike next year. Indeed, the odds for a hike by June is now higher than not. Canadian Dollar was
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Versus $-171 billion last month The US federal deficit for September came in at $-62 billion versus $-60 billion estimate. Last month it was $-171 billion. Compared to a year ago, the September deficit then was at $-125 billion. Year-to-date deficit $2.772 trillion verse 2000 deficit of $3.132 trillion September outlays $521 billion versus $498
Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest U.S. storage hub are draining to levels
While DOW hit new intraday record high overnight, positive sentiment was not carried forward to Asia. Instead, stocks tumbled as the troubled China’s property giant Evergrande failed to close the sale of the controlling stake in its property management business. The company could official go into default next Monday. Yen and Dollar are both recovering
Forex news for North American trading on October 22, 2021 Fed chair Powell speaking on a panel at a BIS conference, tilted his inflation fear little more in the direction of “inflation will last longer than expected” and “the Fed has the tools” to combat a higher inflation rate. It just seemed that there was a
NEW DELHI: Gold inched higher and was poised for a second weekly gain on Friday. Softer dollar provided some respite against higher US bond yields. A weaker dollar and rising expectations that central banks could begin easing economic support strengthened the bullion. A steep rally in bond yields limited the upside. Gold futures on MCX
The forex markets are staying in consolidative mode today and could remain so before weekly close. Though, that would depend on whether US stocks would surge again with powerful buying. For the week, Dollar is currently the worst performing, followed by Canadian and Euro. Aussie is the strongest followed by Kiwi. Technically, the retreats in
October services PMI data Three month high for services Prior was 54.9 Manufacturing 59.2 vs 60.3 expected — seven month low Prior manufacturing was 60.7 Composite 57.3 vs 54.7 expected Prior composite 55.0 Record rise in backlogs of work in the composite index Record high in outstanding business in composite index Employment rose at highest
New Delhi: Gold in the national capital on Friday rose Rs 158 to Rs 46,678 per 10 grams in line with strong international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,520 per 10 grams. Silver also jumped Rs 180 to Rs 64,210 per kg,
The forex markets are staying in mostly consolidation in Asian session. Recovery in Dollar and Yen is so far rather weak, capped by resilient market sentiment. S&P 500 closed at new record high while DOW was not far behind. Major Asian indexes are also trading higher after China’s Evergrande averted default for now after remitting
MELBOURNE: prices resumed their climb on Friday on continued tightness in U.S. supply, but were headed for a flat finish on the week as coal and gas prices eased, curbing fuel-switching which had stoked demand for oil products for power. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.2%, to $82.70 a
Biden’s remarks were not the focus, that ha been on Evergrande’s USD83.5m payment made, which has given a boost to risk FX. This from Biden earlier: Just quickly recapping the main points made by Biden, across numerous topics: said the corporate tax rate won’t rise on the supply chain bottlenecks he said he may call
Markets are generally in consolidative mode today. Dollar turns weaker against Swiss Franc and Yen despite better than expected jobless claims data. But the greenback is just range bound against other major currencies. Commodity currencies are digesting near term gains but losses are so far very limited. Euro is trading sideway against Sterling but weakens
The ebb and flow of dealmaking The White House has pushed for a ‘framework’ on a deal this week. Yesterday there was a report about Manchin threatening to leave the Democratic party, so this is certainly an improvement in tone. He also said a child tax credit is being negotiated and that a program is
New Delhi: Capital markets regulator Sebi on Thursday asked investment advisers to refrain from dealing in digital gold, which is an unregulated product. This came after Sebi noted that some registered investment advisers are engaged in unregulated activity by providing a platform for buying, selling or dealing in unregulated products including digital gold. “Undertaking such
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -9.81 mmb to 1228.91 mmb in the week ended October 15. Crude oil inventory slipped -0.43 mmb to 426.54 mmb, compared with consensus of a +1.86 mmb increase. Inventory slipped in 3 out of 5
Forex news for Asia trading on Thursday 21 October 2021 CAD, AUD and NZD all traded higher against the USD during the session here with still-solid oil prices underpinning especially CAD (see bullets above). EUR/USD has inched a little higher also while yen, CHF and GBP are all little net changed. There was not a
MELBOURNE: Oil prices turned down after the Chinese government flagged it was looking for ways to tame record high coal prices and that it would ensure coal mines operate at full capacity as Beijing moved to ease a power shortage. Chinese coal prices and other commodity prices slumped in early trade, which in turn pulled