NEW YORK: Oil prices gained about 3% on Monday on the slow return of U.S. crude output cut by abnormally frigid conditions and as an approaching meeting by top global producers is expected to keep production largely reined in. Brent crude was up $1.65, or 2.6%, at $64.56 a barrel by 12:07 p.m. (1707 GMT)
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New Zealand Dollar opens the week higher after ratings upgrade by S&P. The Kiwi would now look into RBNZ’s comments on the economy and new economic projections featured later in that week. Elsewhere, overall risk-on sentiments continue to support commodity currencies and Sterling. On the other hand, Yen and Swiss Franc are trading generally lower,
What’s coming up Happy Monday. The market is tentative today with yields edging higher but the FX market largely unchanged. The economic calendar is all about central bankers today with only the Dallas Fed at 1530 GMT for economic data. For central bankers we get Kaplan at 1400 GMT, Lagarde at 1430 GMT, Kaplan again
By Devika Krishna Kumar and Laila Kearney NEW YORK: Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources
Swiss Franc was a focus in earlier European session as it suffered brief but deep selloff. Though, it somewhat found some footing quickly, even though it’s still the second weakest for today so far. Yen is underperforming again on strong major global benchmark yields. Dollar and Canadian Dollar are the next weakest even though Euro
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
New Delhi: Wholesale prices of turmeric and coriander firm up due to a lower crop yield and increased demand in the domestic and export market, said companies and analysts. In the wholesale market, turmeric prices have increased by Rs 18-20 a kg to Rs 75 a kg and coriander by Rs 3-4 a kg to
Fox’s Gasparino sites banking sources Fox’s Charlie Gasparino is tweeting that MSFT could make another run at TikTok if the Oracle deal falls through. MSFT traded below its 100 hour moving average at $241.88 as the pair consolidates near the all time highs over the last few weeks. The current price is trading just above the $241 level. That is still below the
Gold demand in the metros has declined by 10-15 per cent in the last fortnight compared to the previous fortnight due to volatility in the prices of the yellow metal. Prices of gold have fallen by 4.67 per cent in the last fortnight from Rs 49,000 per 10 gm to Rs 46,700 per 10 gm
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
By Yvonne Yue Li, Joe Richter and Eddie SpenceGold began the year with lofty expectations on the back of a record high and its biggest annual gain in a decade. Instead, the precious metal is off to its worst start in 30 years. Spot prices touched a seven-month low on Friday, deepening a slump and
We expect the RBNZ to deliver a less dovish message in the upcoming meeting. Economic data released since the November meeting have been encouraging, with the price level and the job market on track to reach the target. These should lead to upgrades in the economic projections. Financial conditions have tightened as the yield curve
Key events and releases for the week starting February 22 Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Fed Powell testifies. RBNZ rate decision Monday German Ifo business climate index. 4 AM ET/0 900 GMT NZD retail sales QoQ, 4:45 PM ET/2145 GMT Tuesday UK employment statistics. 2 PM ET/0700 GMT Fed Powell
By John Kemp LONDON: US petroleum consumption and inventories have returned to normal after the pandemic and volume war last year, with the significant exception of jet fuel, where demand remains suppressed by travel restrictions. Market rebalancing has been completed earlier than seemed likely a few months ago, as a result of a strong recovery
Stocks markets took a breather last week while focus turned to surging industrial metal prices and treasury yields. Strength in metals was seen more about supply shortage than recovery in demand. That somewhat also reinforced reflation trades. US 10-year yield was back above 1.3%, German 10-year bund yield at -0.3%, UK 10-year gilt yield at
Forex news for North American trading on February 19, 2021 The USD was the weakest currency at the close of yesterday and it continued the move to the downside today. Although it was not the weakest of the majors (the CHF was the weakest), it fell vs all the majors with the exception of the CHF. The biggest