News

OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in nine months, three sources from the producers’ group told Reuters on Thursday. Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China,

Dollar weakened broadly overnight after the latest JOLTS report showed significant drop in job openings, hitting the lowest level since January 2021. Economists are increasingly worried that the US labor market is cooling not just to pre-pandemic levels but potentially beyond. Such outlook could raising the possibility that the Federal Reserve may need to act

Prior +3.9%; revised to +4.6% The devil is in the details. The reading here has been volatile for many months already in 2024 and this is one of those times reflecting that again. If you actually exclude large orders (which tend to be a one-off), incoming orders were actually down by 0.4% in July compared

Amid weakness in the dollar index and downbeat U.S. JOLTS job openings data, Gold October futures contracts at MCX opened flat on Thursday at Rs 71,484 per 10 grams, rising 0.03% or Rs 18 while silver December futures contracts were trading at Rs 83,750/kg, up 0.22% or Rs 185. In this week so far, the

Risk aversion continues to dominate the global financial markets today, although the weakness in US futures has been relatively contained. While some volatility could arise from the US JOLTS labor market data, traders would largely be holding off for tomorrow’s ISM services data and Friday’s non-farm payroll report. As a result, market movements are expected

There is an interesting dynamic this week with non-farm payrolls on Friday and the FOMC blackout period starting Friday at midnight. If the jobs report is middling, it doesn’t leave much time for officials to signal that a 50 basis point cut is likely. Of course, they could always turn to a leak to the

Oil prices fell on Wednesday, extending the previous day’s more than 4% plunge, on expectations the political dispute that has halted Libyan exports may be resolved and concerns over lower global demand growth. Brent crude futures for November fell 28 cents, or 0.4%, to $73.47 at 0052 GMT after dropping 4.9% in the previous session.

Risk aversion swept across US markets overnight, with the selloff extending into Asian trading, driven by renewed fears of a recession. Weak US manufacturing data brought economic concerns back into focus, leading to a sharp 600-point drop in DOW and a more than 3.2% plunge in NASDAQ. The negative sentiment spread broadly across asset classes,

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Ahead of the key US economic data and weakness in crude oil, Gold October futures contracts at MCX opened flat on Wednesday with a positive bias at Rs 71,449 per 10 gram, which is up by 0.1% or Rs 68 while silver December futures contracts were trading at Rs 83,183/kg, down by 0.08% or Rs

Yen staged a notable rebound today, joined by Dollar and Swiss Franc. In contrast, Australian Dollar is leading losses among commodity currencies. Risk-off mood appears to be taking hold, which is also evident in US futures, which point to a lower open as American markets return from the Labor Day holiday. Market participants seem to

That line from Federal Reserve Chairman Powell, uttered at Jackson Hole looms large in market pricing this week and going forward. The takeaway is that they don’t want to see unemployment rise meaningfully, or perhaps at all. Financial conditions are worsening to start the month and the ISM manufacturing survey had the lowest new orders

Oil prices dropped more than 3% on Tuesday after Bloomberg News reported that a deal was imminent to resolve a dispute that has halted Libyan production and exports, pushing prices to their lowest since around the beginning of the year. The news of more crude supply possibly returning to the market came as prices had

Dollar is trading with a slightly firm tone this week, though overall forex market activity has been relatively subdued. It’s worth noting that last month’s sharp selloff in US stocks was actually started with disappointing ISM manufacturing data, which was then exacerbated by the non-farm payrolls report. Given this backdrop, today’s release could trigger volatility

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold October futures contracts at MCX opened flat on Tuesday at Rs 71,526 per 10 gram, which is down by 0.1% or Rs 75 while silver December futures contracts were trading at Rs 84,426/kg, down by 0.15% or Rs 128. Gold prices have fallen by Rs 660/10 gm in the last 3 days while silver

In relatively quiet market environment, Japanese Yen is coming under increasing pressure, with notable selloff driven by rising benchmark yields in the US and Europe. With major European stock indexes largely flat and the US and Canadian markets closed for a holiday, the Yen’s decline has gained momentum. Several Yen crosses have broken near term

ISM manufacturing US markets are closed on Monday for Labor Day but will come to life on Tuesday including some notable economic data. The highlight is the 10 am ET release of the August ISM manufacturing index. In July, the survey disappointed with a fall to 46.8 compared to 48.8 expected. This month, economists expect