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Yen rises broadly in Asian session on a couple of risk off factor, all linked to the pandemic. The set of weaker than expected data from China suggested that recovery is losing much momentum as the coronavirus is back. Japan reported surge in infections while Australia is also back in tighter restrictions. Commodity currencies tumble
For the 28th consecutive day, petrol and diesel prices remained unchanged across the country. Global crude prices have dropped to just below $71 per barrel, after it cooled down in July. In the national capital, petrol continues to be sold for R.s 101.84 per litre, while diesel is also being sold at the unchanged price
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slipped -0.14 mmb to 1267.52 mmb in the week ended August 6. Crude oil inventory resumed decline, falling-0.45 mmb (consensus: -1.27 mmb) to 438.78 mmb. Stockpile decreased in PADD 1, 2, and 3. Cushing stock
466 new cases. I don’t know how much longer the Reserve Bank of Australia can remain optimistic about the economy with Australia’s largest city and state seeing a spiralling wave of infections. New South Wales is the largest population state of Australia and has the country’s largest city, Sydney. Its the epicentre of Australia’s current
NEW DELHI: Gold prices were mildly higher in Indian market on Friday, tracking flat trends in other Asian peers. The precious metal was headed for a second consecutive weekly decline. Gold futures on MCX were up 0.19 per cent, or Rs 87, at Rs 46,450 per 10 gram. Silver futures gained 0.31 per cent, or
Euro and Swiss Franc rise broadly as the markets are approaching the weekly close. On the other hand, Canadian Dollar is reversing some of this week’s gains, while Dollar is following as second weakest for the day. As for the week, the Loonie is still the strongest, followed by Kiwi Swiss Franc is the weakest
US drilling data from Baker Hughes Nat gas 102 vs 103 prior This is the largest weekly increase since April. OPEC isn’t going to love the idea of more US drilling but uncompleted well is the US that’s been worked off in the past 18 months and there’s a fair argument that even at this
New Delhi: Gold in the national capital on Friday jumped Rs 222 to Rs 45,586 per 10 gram amid a recovery in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,364 per 10 grams. Silver also gained Rs 100 to Rs
Trading in the Asian markets is relatively subdued again. Asian stocks are mixed even though DOW and S&P 500 rose to new record highs overnight. Dollar continues to fail to find a committed direction. While the greenback remains firm against Euro, Swiss Franc and Yen, it clearly lacks upside momentum against commodity currencies. With a
Delta variant concerns begin to grow in Germany The country recorded 5,578 new cases in the past day, bringing total active cases to ~42,900 – the highest since 14 June. This comes as the 7-day incidence rate is also ticking higher relative to the past few weeks, now seen at 30.1. There has already been
TOKYO: Oil prices fell for a second day on Friday after the IEA warned that demand growth for crude and its products had slowed sharply as surging cases of COVID-19 worldwide has forced governments to revive restrictions on movement. Brent crude was down 31 cents, or 0.4%, at $71.00 a barrel by 0046 GMT, after
Dollar is trying to regain some ground in early US session after stronger than expected PPI. Both initial and continuing jobless claims also continued to trend lower. The greenback is followed by Euro and Yen while Aussie and Kiwi are softest. Though, major pairs and crosses are staying inside yesterday’s range for now. As for
Tough one to make sense of For the past half year there has been a consistent trend of strong 10-year US auctions and weak 30-year sales. In theory, markets should adjust to that but for some reason they aren’t. The reaction in the FX market, we witnessed the US dollar weakness on the particularly strong
New Delhi: Gold in the national capital on Thursday rallied Rs 422 to Rs 45,560 per 10 gram amid gain in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,138 per 10 gram. Silver also gained Rs 113 to Rs 61,314 per kilogram from
The forex markets are generally trading in very tight range in Asian session. While DOW surged to new record high overnight, Asian indexes are just mixed. Dollar started a pull back but there is no clear follow through selling so far. At the same time, commodity currencies are generally stronger for the week, as supported
A snoozefest basically to start the day I mean talk about narrow ranges, today in particular seems to be rather restricted. Dollar pairs are confined to within 5 pips of each other currently and there hasn’t been any stretching whatsoever among them as we look towards European trading. The biggest range on the day is
Gold prices held on to overnight gains on Thursday, after data showing US consumer price increases slowed in July soothed concerns of an early tapering of economic support. FUNDAMENTALSSpot gold was little changed at $1,750.34 per ounce by 0104 GMT, having recorded it biggest one-day percentage gain since May 6 on Wednesday. US gold futures