Both crude oil benchmarks have been range-bounded after pulling back from the peaks in early March. Although global economic recovery is still underway and the pandemic situation has largely stabilized, the ramp-up of output by OPEC members and non-OPEC producers have raised concerns over whether the growth in world demand could absorb supply. This could
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MUFG on the outlook for the euro MUFG Research sees a scope for EUR outperformance on a brighter vaccination prospects in Europe. “The chart above highlights a notable acceleration across key EU countries that will greatly improve optimism over a faster pace of vaccination roll-outs. France has seen a pick-up with over 0.5mn vaccines administered
NEW DELHI: Silver prices rose by Rs 310 to Rs 66,438 per kg in futures trade on Tuesday as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 310, or 0.47 per cent, to Rs 66,438 per kg in 9,365 lots. Analysts said
Dollar trades mildly lower entering into US session, after US FDA and CDC recommend pause of J&J COVID-19 vaccines on blood clot issue. DOW futures also turn south and point to slightly lower open. Meanwhile, UK Prime Minister Boris Johnson also warned that the fall in infections was due to lockdown, but not vaccinations. At
Via a spokesman for China’s Customs Bureau says the high comparison base will bring challenges to trade growth in Q2 of this year USD denominated exports +30.6% y/y in March imports +38.1% y/y Yuan denominated exports +20.7% y/y imports +20.7% y/y — That big jump in imports is likely an indication of improving domestic demand,
NEW YORK: Oil prices rose nearly 2% on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites. Crude prices have remained rangebound in the past three weeks, as growing expectations of surging US economic activity are balanced
Dollar and Yen trade slightly higher on mild risk-off sentiment in Asia. Australian and Canadian Dollar are the weaker ones for the time being. But overall, most major pairs and crosses are stuck in range. Except that, some extra strengthen is seen in Kiwi against Aussie. Kiwi could be ready for a ride ahead of
Look at this chart from India From the outset of the pandemic, one of the great fears is that covid would take hold in a crowded, impoverished place like India. The country has done a remarkable job of containing it so far but that appears to have changed with the new variants. That is a
NEW DELHI: Copper futures on Monday slipped 0.92 per cent to Rs 683.50 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for April delivery eased by Rs 6.35, or 0.92 per cent, to Rs 683.50 per kg in a business turnover of
Dollar turns softer entering into US session, as traders await the results of auctions of both 3- and 10-year bonds, worth USD 96B in total. Additionally, there will be auction of USD 24B of 30-year bonds tomorrow, and a total of USD 151B in bills this week. It should be noted that this year’s strong
The US dollar is a touch higher almost across the board of major FX. News flow has been light, US Fed head Powell comments from a US TV interview were reported: I’m assessing Powell’s comments and fairly upbeat but of course he won’t go hiking rates any time soon (see this posts for more details).
NEW DELHI: Silver futures on Friday dropped Rs 552 to Rs 66,949 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 552, or 0.82 per cent, to Rs 66,949 per kg in a business turnover of 9830 lots. Silver traded lower
The FOMC minutes for the March meeting revealed that members turned more optimistic over the economic outlook. They were more hopeful of continuous improvement in light of the “significant declines in the number of new [coronavirus] cases, hospitalizations, and deaths over the intermeeting period as well as a pickup in the pace of vaccinations”. The
Stocks climb to the highs of the day US stocks are getting a late lift in what’s already been a strong week. The S&P 500 is up 25 points to 4121. Closing at the highs of the week is a good sign for the week ahead, though this will be the 6th gain in 7
NEW DELHI: Aluminium prices on Friday fell by 75 paise to Rs 184.95 per kg in the futures market as participants trimmed their positions amid a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in April declined by 75 paise, or 0.4 per cent, to Rs 184.95 per kg
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Forex news for New York trade on April 9, 2020: Markets: S&P 500 up 0.8% to record 4128 US 10-year yield up 3.75 bps to 1.66% Gold down $13 to $1743 WTI crude down 25-cents to $59.35 CAD leads, AUD lags The Canadian jobs report was a stunner and far-surpassed expectations. The market’s response was
CHANDIGARH: The wheat procurement in Punjab will begin on April 10, the state’s food, civil supplies and consumer affairs minister Bharat Bhushan Ashu said. He said the state government has made arrangements in this regard, and procurement agencies and FCI would purchase the crop at Rs 1,975 per quintal in the current rabi season. Ashu