NEW YORK: Oil prices fell for a third day on Tuesday, as Germany, France and other European states suspended the use of a major coronavirus vaccine, threatening the recovery of fuel demand. Brent was down 59 cents, or 0.9%, to $68.29 a barrel by 12:52 p.m. EDT (1652 GMT). US crude fell 75 cents, or
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There isn’t really a clear direction in the currency markets today. Sterling’s selloff in European session quickly faded. Focus is turning to Yen and Swiss Franc rebound in early US session. Weakness in treasury yield is a factor driving the changes. Japan 10-year JGB yield closed back blow 0.1% handle while Germany 10-year yield is
Calmer tones stay the course in early trades German DAX futures +0.3% UK FTSE futures +0.5% Spanish IBEX futures +0.4% European equities are largely brushing aside worries from the AstraZeneca vaccine and problems with the overall vaccine rollout in the region. As things stand, broader market sentiment is still the key overriding factor – for
By Tapan Patel Commodity prices traded mixed on Tuesday continuing the trend from the previous session as the bullion prices continued upside extending the previous week’s rally while crude oil prices traded lower on demand growth concerns. Base metals witnessed mixed trade amid China pollution curbs and policy tightening. Here is a look at how
Markets remain cautious overall. While DOW and S&P 500 hit new record highs overnight, the gains were just modest. Gold and WTI oil are also both stuck in tight range, awaiting breakout. In the currency markets, Sterling is apparently under some pressure from cross selling against other European majors. Euro and Swiss are currently the
WTI down 0.5% on the day Oil fell as low as $64.13 but bounced more than a dollar from the lows. It had been as high as $66.40 in Asian trade. Today’s candle is pretty much par for the course across markets with not much moving. USD/CAD is also flat today after Friday’s big drop.
Gold prices ticked up on Monday as US Treasury yields backed off recent highs, countering pressure from a resilient dollar, as investors awaited further policy cues from the Federal Reserve‘s policy meeting this week. Spot gold rose 0.1% to $1,727.80 per ounce by 10:32 a.m. EDT (1432 GMT). US gold futures rose 0.5% to $1,727.90
Trading is generally subdued in the markets today. European indices are stuck in very tight range while US futures point to slightly higher open. Both gold and oil are bounded in consolidative trading. Bitcoin was short to new record high but quickly reversed. In the currency markets, New Zealand and Canadian Dollar are the strongest
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NEW DELHI: Gold and silver future prices rose on Monday tracking the trend in the international market as the passage of a US stimulus bill stoked inflation risks, although a resultant bounce in Treasury yields kept gains in check. Rising Covid cases in India also helped its rise. Gold is generally considered a hedge against
The focus of this week’s FOMC meeting is how the Fed would respond to the rising Treasury yields and the rapid improvement in the economic conditions. We expect policymakers to upgrade the GDP growth forecasts and attribute rising yields to improvement economic confidence. Yet, the tone should remain cautious. All the monetary policy measures will
Bitcoin hits $61,000 While the financial market casino closes on Fridays, it stays open in crypto and that flow of interest tends to be bullish. Looking at the past 13 weekends, there are 8 gains and 4 declines with one weekend virtually unchanged. The gains also far outpace the declines. The lines on this chart
NEW DELHI: Silver futures on Friday dropped Rs 776 to Rs 66,769 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 776, or 1.15 per cent, to Rs 66,769 per kg in a business turnover of 12,444 lots. Silver traded lower
Impressive milestone History has shown many times that when the American war machine gets going it’s unstoppable. Biden moved up the goal to full availability at May 1 this weekend. It looks like they could do it even faster. The good news is that the entire world is likely on a quicker curve as well.
NEW DELHI: Zinc prices on Friday fell 0.55 per cent to Rs 216.60 per kg in futures trade as speculators reduced their exposure taking negative cues from spot market. On the Multi Commodity Exchange, zinc contracts for March delivery traded lower by Rs 1.20, or 0.55 per cent, to Rs 216.60 per kg in 2,110
Australian Dollar leads other commodity currencies higher today on improved market sentiments. Asian stocks are trading generally higher, following the record close in DOW overnight. Investors found some comfort from the soft yet acceptable 10-year auctions. Dollar, Yen and Swiss Franc turn softer as a result. Now, focus will turn to ECB rate decision, economic
CFTC Commitments of Traders: EUR longs trimmed by 24K to the lowest level since June Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly 4X futures positioning data for the CFTC for the week ending Tuesday, March 9, 2021 EUR long 102K vs 126K long last week. Longs trimmed by