NEW DELHI: Copper prices on Friday rose by 0.62 per cent to Rs 677 per kg in futures trade on a pick-up in spot demand. On the Multi Commodity Exchange, copper contracts for March delivery traded higher by Rs 4.15, or 0.62 per cent, to Rs 677 per kg in a business turnover of 3,611
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The markets are relatively mixed so far. Dollar’s rally attempt was brought to a halt overnight while Euro and Swiss Franc recovered. Commodity currencies also recovered, as led by Aussie, with support from better than expected GDP data. Yet, major pairs and crosses are kept in tight range. In other markets, Asian stocks rises broadly
CFTC Commitments of Traders: EUR long position trimmed. GBP longs is the largest since April 2018 Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 2, 2021 EUR long 126K vs 138K long last week. Longs
LONDON: Oil prices jumped more than 3% on Friday, hitting their highest levels in over a year after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. Brent crude futures were up $2.23, or 3.3%, at $68.97 a barrel by 1441 GMT – a
Strong treasury yield continued to be a major theme last week. But for now, it seemed 10-year yield could still break loose from the “magnetic field” of S&P dividend yield at around 1.5%. Indeed, US stocks, including NASDAQ staged a strong rebound on Friday, as 10-year yield settled back in range. Such theme will likely
Forex news for New York trade on March 5, 2021: Markets: US 10-year yields down 4 bps to 1.55% Gold up $1 to $1698 WTI crude up $2.44 to $66.27 S&P 500 up 73 points to 3841 CAD leads, EUR lags Non-farm payrolls delivered yet another whipsaw to short-term traders. It’s clear that the playbook
Gold fell to its lowest in nine months on Friday after better-than-expected US employment data bolstered the and US Treasury yields, putting bullion on course for its third straight weekly decline. Spot gold was down 0.1% at $1,695.22 by 11:50 a.m. ET (1650 GMT), after falling to its lowest since June 8 at $1,686.40 in
Huge volatility continues in stock markets as Asian indices dive following the selloff in US overnight. But movements in exchange rates are relatively subdued, and mixed. Swiss Franc, Yen and Euro are currently the weaker ones for the week, followed by Dollar. Australian Dollar is leading other commodity currencies and Sterling as the strongest. However,
This ETF put a target on its own back You don’t need to look much beyond a single ETF to explain much of the pain in the equity market. Cathy Wood’s ARKK innovation ETF became a sensation last year. The dicretionary, tech-focused ETF has seen major inflows in the past six months and amassed huge
Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore. Dealers charged up to $5 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, compared with last week’s
Dollar rises further in early US session after much stronger than expected non-farm payroll report. 10-year yield also surges and it’s now back above 1.6 handle. The greenback in currently the second strongest for the week, only overwhelmed by the oil supported Canadian Dollar. While Swiss Franc and Yen are trying to recover against others,
Goldman Sachs have boosted forecasts: sees Brent crude at $75 / bbl in Q2 and $80 in Q3 both forecasts raised by $5 / bbl JP Morgan meanwhile Have Brent forecasts at $67 for this year and $74 for 2020 both forecasts up circa 2 to 3 dollars / bbl Both citing OPEC+ not expanding supply
MELBOURNE: Oil prices rose early on Friday, adding to big gains overnight after OPEC and its allies agreed to not increase supply in April as they await a more solid recovery in demand from the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude futures climbed 17 cents, or 0.3%, to $64.00 at 0128 GMT, holding
Fed Chair Jerome Powell’s lack of concrete hint on action against rising nominal rates sent treasury yield higher, and stocks lower overnight. Dollar rode on risk aversion and jumped sharply higher. Nevertheless, the greenback’s rally was concentrated against Euro, Swiss Franc and Yen only. Sterling, Canadian, and Australian are indeed still rather resilient. In particular,
More OPEC headlines Russia and Kazakhstan will be allowed to modestly increase oil output in April, according to a report. Further reports also say that existing quotas will be rolled over. One report says Saudis will keep their voluntary 1mbpd cut through April. That was not the baseline at all but it’s still murky. Assuming
LONDON: Saudi Arabia‘s energy minister said on Thursday that the situation in the oil market had improved but the outlook for a recovery in demand remained uncertain. Prince Abdulaziz bin Salman was speaking at the opening of a meeting of the Organization of the Petroleum Exporting Countries, Russia and its allies, a group known as
Selloff in Swiss Franc and Yen is the main focus today. But the forex markets are mixed elsewhere. Commodity currencies are mildly firmer as led by Aussie, but major pairs are just bounded in very tight range at the time of writing. Euro, Sterling and Dollar are mixed for the moment. But the picture could
Forex news for Asia trading for Thursday 4 March 2021 the Australian dollar was a mover (relatively speaking) in majopr FS during the session here today, helped along by a trade balance data release (for January) that came in at +10bn vs. +6.8bn expected (see bullets above for more detail in the numbers) and the