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Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. The Brent crude July contract was up 41 cents to $81.77 a barrel by 1351 GMT. The more-active August contract was also up 41 cents at $81.52. U.S. West Texas

Euro rebounded notably today despite the absence of substantial news from Europe. Sterling followed suit, shrugging off poor UK retail sales data. Conversely, Dollar ignored upbeat durable goods data and weakened alongside Yen and Swiss Franc. Commodity currencies displayed mixed performance. It appears that traders are lightening up their positions ahead of the long weekend

Barclays notes that markets had “reacted to slightly softer US data in May, as seen in outsized moves to PPI, CPI, and retail sales, with bonds rallying and stocks reaching new highs”. As such, “this will likely trigger more rebalancing needs to sell dollars at month-end”. Adding that “although the broad rally extended to other

Amid rising treasury yields and some profit booking, gold prices on MCX for June futures contracts fell Rs 126 or 0.18% to trade at Rs 71,451 per 10 grams while MCX July silver contracts were up Rs 154 or 0.17% to Rs 90,591 per kg. Gold is experiencing its biggest weekly decline this year after

Dollar’s rebound is gathering momentum, as fueled by yesterday’s data indicating a resurgence in the services sector, which could impede disinflation progress. While fed fund futures still reflect over 50% probability of a rate cut in September, there is now a 0.6% chance of a rate hike—an occurrence not seen for quite some time. Currently,

The North American session started with the USD as the weakest of the major currencies. And then US initial jobless claims came in better than expected – moving back to 215K. That took the concern of employment from a few weeks ago when the number suddenly spiked to 231K back out of the equation. Jobs

Gold fell to more than a week’s low on Thursday, extending its decline for a third straight session, as investors grew apprehensive over U.S. rate cut timings and on strength in U.S. business activity. Spot gold fell 1.4% to $2,346.07 per ounce, its lowest since May 14, as of 1557 GMT. The non-yielding bullion hit

As trading progresses into US session, activity in the forex markets remains relatively muted. Euro is showing signs of recovery ahead of key support levels against Dollar and crucial support against Sterling. Eurozone PMIs revealed that economic recovery is strengthening, with Germany, the region’s largest economy, finally catching up. Despite this positive data, Euro’s gains

Nvidia reported earnings yesterday after the close and not surprisingly it beat expectations across the board. We saw a rally in the S&P 500 futures as a result given the big weight of Nvidia on the index. The downward spike triggered by the FOMC minutes was clearly a dip-buying opportunity since there was nothing new

Steadied by hawkish Fed comments, gold prices on MCX for June futures contracts opened flat at Rs 72,575 per 10 grams, Rs 471 or 0.64% lower while MCX July silver contracts were down by nearly Rs 1,600 or 1.72% at Rs 91,415 per kg. Gold steadied after its biggest drop this month, influenced by hawkish

Trading has been relatively quiet in Asian session today. Dollar regained some ground overnight following hawkish minutes from the latest FOMC meeting, which revealed that several members are prepared to support further rate hike if necessary. Despite this, the greenback lacks clear follow-through momentum at present. For a more sustained near-term rebound, Dollar will need

The USD moved higher today with the major indices vs the USD moving up with yields. The Fed minute from the early May meeting were viewed as more hawkish with the Fed saying that it will take longer than anticipated to gain greater confidence in the inflation fall. Although there were thoughts that the comments

Oil prices fell more than 1% on Wednesday, retreating for a third straight day on expectations that U.S. interest rate cuts might be deferred due to sustained inflation, potentially affecting demand in the world’s largest oil user. The market also slipped as U.S. crude oil and gasoline inventories rose last week, according to market sources

Sterling climbed broadly today after data showed that UK disinflation progress was slower than anticipated, with services inflation remaining persistently high. This development dashed hopes for an imminent rate cut by BoE, causing the odds of a rate cut in June to plummet from around 50% to below 20%. Despite this, the notable declines in

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Sustaining near its all-time high levels, June gold futures opened flat on Wednesday at Rs 73,930 per 10 gram, down by Rs 91 or 0.12%, while silver July contracts were down by Rs 419 or 0.44% at Rs 94,306/ kg.Gold stayed near its record high for the second day as traders awaited signals on US

New Zealand Dollar surged sharply higher following RBNZ’s unexpectedly hawkish rate decision. While OCR was left unchanged, the central bank signaled the increased possibility of another rate hike this year and delayed projected timing of the first rate cut to the second half of 2025. However, Kiwi quickly gave back some of its gains after

For the second consecutive day, there were no economic releases in the US. Instead, Fedspeak was the only fundamental influence and even so, what was said, was not all that different from prior Fed officials At the end of the day five of the seven major currency pairs – the EURUSD, GBPUSD, USDCHF, AUDUSD and