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
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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
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
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