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The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday.  The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the

Sales volume of real-time power market (RTM), which allows consumers to buy power just one hour before delivery, jumped over three-fold to 1,726 million units in June compared to the year-ago month at (IEX). The RTM was launched last year on June 1, and had witnessed sales of 515 MU in the first month of

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -4.58 mmb to 1278.28 mmb in the week ended June 25. Crude oil inventory slumped -6.72 mmb (consensus: -4.69 mmb) to 452.34 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf

OPEC+ meeting continues The latest from the OPEC+ meetings is that the UAE as agreed with a one-month delay in making the decision on easing the production cuts, but Russia has opposed the suggested delay. So the stalemate continues Invest in yourself. See our forex education hub.

The Bureau of Indian Standards (BIS) website and FAQs do not capture many key points on hallmarking, discussed between the gems and jewellery industry and the government, causing confusion and disruption amongst jewellers, All India Gem and Jewellery Domestic Council (GJC) said on Saturday. In this regard, the industry body has written to Union Minister

Dollar ended as the strongest one last week but Friday’s steel fall after solid non-farm payroll job reports suggests that it’s rally is already losing steam. It’s still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar’s upside attempts ahead, and even trigger a deeper pull

The latest from OPEC + The UAE agreed with a one-month production increased by OPEC+, but insist on its opposition to change in the baseline for the continuation of the existing agreement. Meanwhile Russia recommends delaying OPEC+ talks by 1 to 2 days. It seems there continues to be a stalemate.

CHICAGO: Chicago Board of Trade corn futures retreated on profit-taking on Friday, while soybean futures extended gains fueled by lower-than-expected U.S. acreage estimates and dry weather in part of the Midwest, traders said. Corn pulled back after surging by the daily, exchange-imposed limit on Wednesday when the U.S. Department of Agriculture shocked traders by estimating

Dollar’s rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it’s certain that Fed won’t move unless upbeat outlook is realized in economic data. Successive solid job growth for a few months is needed to give

Forex news for North American trading on July 2, 2020 In other markets as the week comes to a close shows: Spot gold is trading up $10.69 or +0.6% at $1787.29. Spot silver is up $0.44 or 1.69% $26.45 WTI crude oil futures are trading down nine cents or -0.11% at $75.15 Bitcoin is trading down $293

Gold rose on Friday, climbing further up from a two-month trough hit during the week, as the dollar weakened and investors weighed prospects for U.S. Federal Reserve tightening after a strong U.S. jobs report that nevertheless showed a slight uptick in the unemployment rate. Spot gold rose 0.3% to $1,781.77 per ounce by 12:48 pm

Dollar struggles to ride on stronger than expected non-farm payroll growth, and it’s indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as the strongest one for the week,

It is all about the NFP release today The payrolls figure will once again steal the headlines initially but barring any shocks and/or surprises, I would say that the devil will be in the details when it comes to digesting the report as a whole. A strong headline number plus solid readings in wages and

NEW DELHI: Gold prices held in a tight range on Friday as investors stayed away from making big bets ahead of the US nonfarm payrolls data that could sway Federal Reserve’s monetary policy stance. The yellow metal showed mild gains in domestic markets. US non-farm payrolls data, due later in the day, is expected to

After delaying the meeting to discuss output quota for a day, the OPEC+ still fails to reach a deal regarding production increase for the coming months. News headlines suggest that the increase could eventually be below market expectations. Crude oil prices jumped with the front-month WTI contract rose to near 3-year high of US$76.22/ bbl

Westpac outline the factors driving the Australian and New Zealand dollars: Near-term risks remain negative,  with RBA vs RBNZ trajectory,  and trade and political tensions between Australia and China,  weighing on the cross and dominating Australian commodity outperformance. There’s potential for a decline towards 1.06 during the month ahead.  By year end, though, we expect

NEW YORK: Oil prices rose about 2% on Thursday on indications that OPEC+ producers could increase output more slowly than expected in coming months, while rising global fuel demand would continue to tighten supply. Brent crude was up $1.23, or 1.7%, to $75.85 a barrel by 12:38 p.m. EDT (1638 GMT). U.S. West Texas Intermediate