LONDON: prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in the oil-producing state of Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe. The global rollout of coronavirus vaccinations, fuelling expectations of a recovery in the global economy and oil
News
Dollar is striking back today with some help from surging US yields. At the time of writing, 10-year yield is trading above 1.25 handle. Additionally, much stronger than expected manufacturing is support the greenback too. While European stocks are treading water, US futures point to higher open. Yen is now the worst performing one, followed
The reflation narrative keeps the market buzzing this week The breakout in Treasury yields towards the end of last week is holding and that is keeping with the reflation theme that is sweeping across the market in the past few weeks. Of note, 10-year yields are holding above 1.20% and is up to 1.24% today
NEW DELHI: Gold and silver futures prices traded with gains on Tuesday following the trend in the international market, thanks to easing dollar. Hopes of a stimulus also lifted the appeal for gold. The dollar eased against rivals, making gold more affordable. However, benchmark US Treasury yields rose to their highest levels since March, which
Strengthening against US dollar for 8 consecutive months, Renminbi (Chinese yuan) has accumulated gains of about 10% since June 2020. We believe the rally is overextended as China’s economic recovery has shown signs of losing steam while yield differential between US and China has narrowed over the past few months. Recovery in China is losing
More fuel for US stocks ahead if GS are right about this: households have already accumulated about $1.5tn in ‘excess’ or ‘forced’ savings we expect that to rise to about $2.4tn, or 11% of GDP, by the time that normal economic life is restored around mid-year GS add they expect 20% of the excess savings
LONDON: Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in. Brent crude was up 88 cents, or 1.4%, at $63.31 a barrel at 1320 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020.
Strong risk-on sentiments continue today even though US and China are on holiday. Dollar and Yen are both suffering heavy selling pressure, more so the latter. Sterling is leading the way up as Prime Minister Boris Johnson promised to detail his roadmap for lockdown exit on February 22. Canadian Dollar finally reacts to the strong
Comments by UK prime minister, Boris Johnson No decisions have been taken on exact date to reopen schools Hoping to do so by 8 March We will try to set out a roadmap out of lockdown Johnson is managing expectations a little before he gets into more detail on plans for the UK to exit
KOLKATA: National Commodity & Derivatives Exchange Limited (NCDEX) will launch the hi-pro soybean meal futures contract on February 17. The basis centre and additional delivery centre for the contract would be Indore and Latur respectively. The futures contracts, expiring in the months of March 2021 to September 2021 will be available for trading at the
Yen and Dollar are under selling pressure today on strong risk-on markets. Nikkei closed above 30k handle for the first time in 30 years, as lifted by stronger than expected GDP data. Swiss Franc is following closely as third weakest. Sterling, is currently the best performer, on optimism of return to normal with vaccine rollouts.
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 Julian Lee If you can’t hit the target, bring it closer. That seems to be the policy adopted by the OPEC+ alliance of oil producers as they make the world’s biggest-ever output cuts in an attempt to shore up oil prices. After a meeting in January, the group’s co-leader, Saudi Arabia’s oil minister, Prince
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -11.17 mmb to 1313.63 mmb in the week ended February 5. Crude oil inventory sank -6.65 mmb (consensus: +0.99 mmb) to 469.01 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf
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
The news wire Bloomberg says Morgan Stanley’s Counterpoint Global investment unit is in the early stages of making a decision. Bloomberg cites unnamed sources, “people with knowledge of the matter”. and adds “Moving ahead with investments would require approval by the firm and regulators.” MS declined comment according to the report. BTC update: — Counterpoint group
TOKYO: Oil prices fell a second day on Friday, extending losses after OPEC cut its demand forecast and the International Energy Agency said the market was still over-supplied. Brent crude was down 34 cents, or 0.6% at $60.80 a barrel by 0102 GMT, having dropped half a percent the previous session. U.S. was down 36