By Saket SundriaOil sank below $60 a barrel in Asian trading amid growing concern over this week’s OPEC+ output-setting meeting. Futures in New York fell for a third day, putting them on course for the worst run of losses since December. The alliance gathers on Thursday to decide how many barrels to return to a
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Commodity currencies and Sterling recover broadly as sentiments in Asian markets stabilized, after mixed economic data. In particular, Nikkei is trading up over 2% at the time of writing, with help from strong PMI manufacturing. On the other hand, Yen turn softer together with Swiss Franc, Dollar and Euro. But majority of major pairs and
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New Delhi: Gold prices declined for the second consecutive day in the national capital on Wednesday, falling Rs 631 to Rs 51,367 per 10 gram amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 51,998 per 10 gram. Silver prices also tanked Rs 1,681 to Rs
Swiss Franc is in deep selloff again today as risk sentiment further stabilized in the markets. European indices rebound broadly while US futures point to higher open. Global bond markets also turned mixed for now. Euro and Yen are following as next weakest. Meanwhile, Canadian Dollar is leading other commodity currencies higher. Dollar and Sterling
The meeting (via remote videoconference) of OPEC and non-Opec (i.e. OPEC+) is on March 4. The background to the meeting is a strong rise in pieces to pre-pandemic levels (oil is up again today) The US is recovering some output from the big freeze OPEC+ has constrained supply as vaccine rollout accelerates round the globe
Gold edged higher on Monday, recovering from an eight-month low touched in the previous session, as a weaker lifted bullion’s appeal. FUNDAMENTALS Spot gold rose 0.3% to $1,739.31 per ounce by 0108 GMT, after hitting its lowest since June at $1,716.85 on Friday. U.S. gold futures gained 0.4% to $1,736.10. The dollar slipped from a
After breaking above US$ 60/bbl, both crude oil benchmarks strengthened further despite surprising stockbuild in the US. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -13.81 mmb to 1284.77 mmb in the week ended February 19. Crude oil inventory added +1.29 mmb
The PM announced the new lockdown after a community case of coronavirus with an unknown origin was detected. Level 3 restrictions imposed, people can leave home only for essential shopping and essential work The rest of the country will be placed into a less restrictive alert level 2. — For the NZD this should mean a
NEW DELHI: Physical gold demand in India gained momentum this week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver. Gold futures in India were trading around Rs 46,000 per 10 grams, not far from the eight-month trough of
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Biden urges Senate to pass legislation Biden called on the Senate to quickly pass the $1.9 trillion stimulus package after it cruised through the House. “It’s time to act,” he said on Saturday, noting that an “overwhelming” percentage of Americans support the bill. “We have no time to wasted.” The bill will provide $1400 each
Feb 26: Gold prices hit their lowest in a week on Friday and headed for a second straight weekly decline as higher U.S. Treasury yields sapped the appeal of non-yielding bullion. FUNDAMENTALS * Spot gold was steady at $1,770.15 per ounce by 0046 GMT, having earlier fallen to its lowest since Feb. 19 at $1,764.90.
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Closing changes for the main North American indexes Yields finished near the lows of the day and about 20 minutes before the close that looked like it was going to spill into equities as they quickly jumped but right at the end of the day there was some hard selling S&P 500 -0.5% DJIA -1.5%
NEW DELHI: Gold futures prices gained slightly on Thursday, but the rise was limited as rising treasury yield forced money out of the bullion. Improving economic conditions also has not helped the cause. Inflation worries are now becoming real, after a record money printing by central banks across the world. Higher inflation boosts gold but
Just after DOW hit new record high in the middle of last week, the rally was choked by skyrocketing treasury yields. Dollar surprisingly ended as the strongest one for the week, followed by Euro and then Sterling. Australian Dollar suffered most as it reversed some of the month’s gains. Swiss Franc and Yen were the
Forex news for North American trading on February 26, 2021: Markets: Gold down $40 to $1730 US 10-year yields down 12 bps to 1.40% WTI crude down $1.84 to $61.69 S&P 500 down 18 points to 3811 USD leads, AUD lags The reverberations from yesterday’s bond implosion left broader markets in a delicate state. Even