LONDON: Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures were up 80 cents, or 0.95%, to $84.80 a barrel at 0930 GMT. Front-month
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Options expiration day adds a twist US stock options and futures expire today so that adds some flow driven trade to what’s been a lively week. Futures point to a 20-point increase in the S&P 500 at the open. The index closed above the October high yesterday: Invest in yourself. See our forex education hub.
Yen’s decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC minutes affirmed tapering to start in November. Euro is not far away too while Sterling
The downshift in the view on exports is the first in 7 months From Japan’s government October economic report via Reuters report Noting: Asia-bound shipments of cars and electronic parts peaked out amid supply chain constraints and China’s economic slowdown the government maintained its overall economic assessment, pointing to signs of recovery in private consumption,
NEW DELHI: Gold prices eased in the domestic market on Thursday, bucking the demand in global markets. Gold prices hovered near a one-month peak. The dollar and longer-dated Treasury yields retreated from recent highs following a hotter-than-expected US inflation data, which supported the bullion. Gold futures on MCX were trading down 0.22 per cent, or
Commodity currencies rise broadly today on the back on risk-on sentiments. Major European indexes are trading up while US futures also point to higher open. Yen is extending recent broad based decline since though treasury yields are in retreat. Dollar and Euro are following as next weakest. Sterling and Swiss Franc are mixed, helped by
Risk trades strong today S&P 500 futures show a 40 point gain at the open with the Dow rising 300 points and the Nasdaq up 1%. The commodity currencies are trading near the highs of the day as well and Europe share prices are strong. Invest in yourself. See our forex education hub.
New Delhi: Gold prices rallied by Rs 455 to Rs 46,987 per 10 gram in the national capital on Thursday following firm trends in global markets, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,532 per 10 gram. Silver also jumped Rs 894 to Rs 61,926 per kg
At the FOMC minutes for the September meeting, the members sent more hints about QE tapering. It is highly likely a formal announcement will be made in November, barring abrupt deterioration of pandemic condition and power shortage problems. On economic developments, the Fed acknowledged that “economic activity had continued to expand in recent months, though
China CPI 0.7% y/y vs. expected 0.9% y/y, prior 0.8% PPI 10.7% y/y expected 10.5% y/y, prior 9.5% PPI fastest gain since 1995 For the m/m numbers, CPI 0.0% and PPI 1.2% The solid rises in wholesale prices are have so far not been passed on to consumers. this will pressure industry profits and
India’s coal shortage crisis reflects the precipitous decline in coal inventory at power generation plants, with inventory declining to 3-4 days, compared with the 21-day norm. Concerns have permeated across the country, worrying industrial as well as agri-dominated states, which are flagging risks of severe power cuts. This comes after reports that over half of
Dollar firms up mildly in early US session as headline CPI was back at multi-decade high, which core CPI remains stubbornly strong. The gain in the greenback is so far limited. Overall markets continue to trade in consolidative mode, with mild weakness seen in commodity currencies while Swiss Franc and Euro are rebounding. Next focus
All sides of the space aren’t attracting enough capital The future has never been less clear in the energy space and that’s leading to potentially ruinous outcomes. The IEA outllines in a report today that there isn’t enough money going into green energy to deal with climate change and there isn’t enough money going into
New Delhi: Gold in the national capital on Wednesday rose Rs 63 to Rs 46,329 per 10 grams amid rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,266 per 10 grams. Silver also jumped Rs 371 to Rs 60,788 per kg, from
OPEC+ produced less than promised despite global energy shortage. The alliance comprised of 10 OPEC members, 9 non-OPEC producers and 3 OPEC members exempted from quotas produced a total of 40.73M bpd in September, compared with 40.26M bpd a month ago. Output from OPEC-10 and non-OPEC aggregated to 36.57M bpd, missing the quota of 36.74M
upgrade China’s property sector to “attractive” “We believe the default risks and property market weakness have been largely priced into property stocks” “Property stocks will react on policy easing, which looks more likely now” ”adjustment process” of reducing debt and policies to “manage system excesses” will likely continue for the next six to 12 months.
Ravindra Rao MCX Gold futures went back and forth during the trading session on Monday as it continued to hover around the Rs 47,000 mark. Now the target/resistance exists around Rs 47,380 (200-DEMA). Similarly, 20-DEMA at Rs 46,600 holds a good support. The medium-term momentum has turned positive as MACD generated a crossover buy signal.
There is basically no change in the Yen selloff theme in the markets. But buying focus has shifted to commodity currencies, as led by Aussie and Kiwi, as well as Sterling. Euro is turning a touch weaker after poor German sentiment data, while the Pound is supported by job data. Dollar is sluggish as traders