NEW YORK: Oil prices fell for a second day on Friday, retreating further from recent highs as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather. Brent crude futures were down 33 cents, or 0.5%, at $63.60 a barrel by 11:06 a.m. (1606 GMT) U.S. West Texas Intermediate (WTI)
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Australian Dollar overtakes Sterling as the strongest one for the week, as supported by return of risk-mode markets. In particular, industrial metal is having strong rally with copper trading up 2% at the time of writing. Sterling shrugs off poor retail sales but was supported by PMI and upbeat comments from BoE official. Euro is
Risk keeps in a better spot after a more tepid start earlier today S&P 500 futures are up by ~0.4% while Nasdaq futures are up ~0.5% amid a more quiet and calmer tone in the market in European trading. The reflation trade is starting to stick its head out the door again as we also
Futures in New York dropped toward $59 a barrel, falling the most in three months at one point on Friday. Companies are using restored power from grids or generators to resume output that was halted by the frigid weather, according to people familiar with the matter. The timeline for a full restoration of the estimated
Sterling continues to trade as the strongest one for the week, as focus turns to UK retail sales and PMIs. Upside surprises there could give the Pound another lift. Australian Dollar is keeping itself close as second strongest for now. On the other hand, Yen and Swiss France are staying as the weakest, followed by
Retail sales from Australia for the first month of the new year, flash reading Up 0.6% m/m expected +2.0% m/m prior -4.1% In seasonally adjusted terms, +10.7% in January 2021 compared with January 2020. That’s an encouraging y/y rise. This flash read is, of course, subject to revision. The final January figures will be published
By John KempLONDON: Saudi Arabia’s oil minister has called for a cautious approach to raising production, even as prices surge and many traders anticipate an increasingly severe shortage of petroleum later this year. “We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The
Dollar is back under some selling pressure, starting in European session, and intensifies after poor job data. Weakness in the greenback is dragging down Canadian Dollar as the second worst performing, while Yen follows as third. Sterling is once again leading the way higher, followed by Aussie and Kiwi. Euro and Swiss France are mixed,
oil market. More than 4 million barrels a day of output — almost 40% of the nation’s crude production — is now offline, according to traders and executives. One of the world’s biggest oil refining centers has seen output drastically cut back. The waterways that help U.S. oil flow to the rest of the world
Risk keeps in a more tepid spot so far today The market is seeing a bit of a mixed mood with Treasuries a little lower alongside stocks, while the dollar is also slightly weaker across the board for the time being. S&P 500 futures are down by ~0.4%, Nasdaq futures down ~0.7% and Dow futures
Australian Dollar strengthens mildly in Asian session today, as supported by another set of solid job data. But overall, trading in the forex markets is subdued. Dollar is taking a breather as FOMC minutes provided no special inspirations. The greenback is, nonetheless, staying as the strongest one for the week, together with Sterling. Yen, Swiss
LONDON: Oil prices were mixed on Wednesday, underpinned by a major supply disruption in the southern United States this week where a winter storm hit Texas, but pressured by reports that Saudi Arabia plans to increase output in the coming months. Benchmark Brent crude gained 13 cents, or 0.2%, to $63.48 a barrel at 1442
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
Dollar’s rebound gains much momentum in early US session with a little help from much stronger than expected retail sales data. Canadian Dollar is following as second strongest for today, riding on rally resumption in oil prices. On the other hand, Euro is suffering some steep selling together with Swiss Franc, and Sterling. Yen is
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: Gold in the national capital plunged Rs 717 to Rs 46,102 per 10 gram on Wednesday in line with decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,819 per 10 gram. Silver also declined Rs 1,274 to Rs 68,239 per
The strong rally in US treasury yield overnight pushed Dollar notably higher. The greenback is indeed the second strongest one for the week, just next to Sterling. Canadian Dollar is following closely with support by resilience in oil prices. ON the other hand, overall risk-on sentiment is keeping Yen under heavy selling pressured. Other currencies,
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