It’s not about the absolute level of inventories Henry Hub natural gas prices are up another 4.3% today to $5.15, which is a fresh 8-year high and a 14-year high for this time of year. The bears point to absolute inventory levels as a reason not to worry about a spike higher in prices. They’re
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New Delhi: Gold in the national capital on Monday rose by Rs 82 to Rs 45,952 per 10 gram in line with the firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,870 per 10 gram. “Spot gold prices for 24 carat in
Dollar rebound continues in Asian session today and trades generally high. Weakness in more notable in Aussie and Euro, as both turn soft in crosses. Overall risk sentiment is slightly negative, with particular deep selloff in Hong Kong stocks, but Nikkei remains resilient. The economic calendar is very light today and movements in the currencies
FX little changed on the day, risk tones steady Major currencies are keeping in relatively narrow ranges as we look towards European trading, with the dollar holding more mixed. If anything else, it could be a bit of a push and pull start to the new week until we get to the US CPI data
Gold prices were subdued on Monday as the dollar held firm, while cautious investors awaited readings on US consumer prices due this week that could be crucial to Federal Reserve’s decision on when to exit its super-supportive policy. FUNDAMENTALSSpot gold was flat at $1,787.40 per ounce, as of 0114 GMT, after having recorded a weekly
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A few items over the weekend for oil & energy traders to take note of. Reuters on German Chancellor Angela Merkel, tried to soothe fears over the Nord Stream 2 gas pipeline on Saturday: “I made clear that it is our concern that Ukraine will remain a transit land for Russian gas” Merkel said during
CNG and piped cooking gas prices in cities such as Delhi and Mumbai may be hiked by 10-11 per cent next month as the government-dictated gas price is set to rise by about 76 per cent, ICICI Securities said in a report. The government, using rates prevalent in gas-surplus nations, fixes the price of natural
Commodity currencies are trading generally lower in Asia today, with pull back in Japanese stocks in the background. Canadian Dollar is also soft after BoC’s rate decision overnight. Dollar, Yen and Swiss Franc are trading mildly firmer, extending this week’s rebound. Euro is following closely, but momentum is starting to diminish, as focus turns to
Two important messages delivered at the ECB meetings are: 1) the end of the front-loading of PEPP asset purchases and 2) acknowledgement of a more persistent inflation pressure. The policy rates were all kept unchanged with the main refi rate, the marginal lending rate and the deposit rate staying at 0%, 0.25% and -0.5% respectively.
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Saturday saw the pause in fuel price revision extending to the sixth day on run as oil companies continued to keep the pause button pressed on retail rates. In Delhi, petrol retailed at Rs 101.19 a litre on Saturday. The prices of petrol in Mumbai, Chennai and Kolkata stood unchanged at Rs 107.26, Rs 98.96,
White House on the call between Biden and Xi The White House is out saying: Biden call with China’s Xi was about 90 minutes Says the tone was not lecturing or condescending; it was respectful Biden-Xi call was about keeping channels of communication open. Invest in yourself. See our forex education hub.
The government has reduced import duty on edible oils in order to provide respite to consumers amid rising food prices ahead of the consumption-driven festive season. The Central Board of Indirect Taxes and Customs (CBIC) issued a notification to the effect, “on being satisfied that it is necessary in the public interest to do so.”
20 years ago suddenly things changed Tomorrow is the 20th anniversary of September 11, 2001. That day saw a plane crash into the Pentagon, another crash in Shanksville Pennsylvania presumably before reaching its intended target at the Washington Capitals or White House. However, it was the two planes that crashed into the World Trade Center
Pune: An ongoing drive to collect data about edible oil and oilseed stocks with the trade and industry will help deter hoarding and bring relief to consumers on prices, union food secretary Sudhanshu Pandey said on Friday. In an interaction with the media, Pandey predicted prices to start cooling from October. “To minimise the possibility
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -10.39 mmb to 1233.43 mmb in the week ended September 3. Crude oil inventory declined for a 8 consecutive week, down -1.53 mmb (consensus: -4.61 mmb) to 423.87 mmb. Stockpile fell in PADD 3,
A blow to Apples app store payment model Apple must allow external payment links conduct in enforcing anti-steering restrictions is anti-competitive judge does not find that Apple is an antitrust monopolist in the submarket for mobile gaming transactions Apple cannot prevent developers from using external links The price of Apple shares are down around 1.8%