The U.S. Department of Energy is looking to purchase 6 million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January. Part of replenishment efforts. Looking to buy the oil at $79 a barrel or less Up from its earlier preferred range of around $70 a barrel Huh. Who wants
Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, months after losing its previous fiat partner PaySafe in September. In an Oct. 19 statement, Binance announced that it had signed agreements with new fiat partners for euro payments, deposits, and withdrawals. The move follows regulatory and debanking woes
Gold prices hit a three-month peak on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve may be done with rate hikes. FUNDAMENTALS * Spot gold was steady at $1,973.99 per ounce by 0132 GMT, after hitting its highest since
Financial markets are once again immersed in a phase of risk aversion, a sentiment spurred by the notable ascent of benchmark treasury yields. US 10-year yield is confidently moving closer to the 5% mark. Even Japan’s 10-year JGB yield is hitting another decade high. The prevalent mood has propelled safe-haven currencies like Swiss Franc, Yen,
Nokia new logo displayed on mobile, with Nokia logo on screen. Nurphoto | Nurphoto | Getty Images Nokia on Thursday said it would cut up to 14,000 jobs as part of a cost reduction plan following a plunge in third-quarter earnings. The Finnish telecommunications giant said that it will reduce its cost base and increase
Share: Australian Dollar continues to lose ground after the release of stronger US data. Australia’s Unemployment Rate outperformed expectations, standing at 3.6%. The PBoC left Loan Prime Rates (LPR) unchanged at 3.45% for the one-year and 4.20% for the five-year. US Jobless Claims declined to 198K the lowest level since January. Fed Chair Powell suggested that
The USD/CHF pair initially rose today, testing a critical zone between 0.8982 and the psychologically significant level of 0.9000. However, sellers stepped in at the upper boundary of this zone, driving the price lower. Notably on the downside, the pair has now breached the 38.2% retracement level from the July low at 0.89808, marking an
I don’t think politics matter to the market right now or at least they shouldn’t matter but earlier this week there was selling in equities after Jim Jordan lost his first vote for Speaker of the House. That campaign currently looks like it has only slim hopes and will certainly need more time and in
MCX December Gold futures are trading at 4 month high levels riding on fresh impetus from the ongoing Israel-Hamas conflict. Experts see the haven demand for gold growing and tell ETMarkets why it is a buying opportunity for investors. MCX Gold futures have gained nearly Rs 3,000 or 5.21% in October largely aided by the
The global markets today are abuzz with the rapid rise of US benchmark treasury yields. Market pundits are keeping a keen eye on 10-year yield, which, given its present momentum, is poised to touch 5% level. All eyes will also be on how traders react at this critical psychological level. Simultaneously, anticipation is building around
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices. The carrier said Thursday it expects to earn between $2.25 and $2.50 a share, on an adjusted basis, for the year, down
Share: Economists at CIBC Capital Markets still see additional scope for investors to add to US Dollar longs into the end of this year. Higher for longer means the US Dollar gets stronger The US economy is less vulnerable to ‘higher for longer’ rates. We expect investors to add to USD longs as the Fed
Sui’s native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain. SUI token gained a little under 1% in the last 24 hours after falling from $0.41 on Oct.
As anxiety in the markets rise going into the last few hours of trading, what has the move higher US yields, the decline in stocks, the rise in oil, and the concerns about Israel, leadership in Washington, and the Fed Chair Powell speech tomorrow done to the price action in the 3 major currency pairs?
The labour market report for September disappointed on jobs growth but did show a drop in the unemployment rate. Data is here ICYMI: The report is unlikely to be too concerning for the Reserve Bank of Australia, the labour market is still very tight despite the slowing trend in jobs growth and in hours worked.
Gold prices edged higher on Thursday to hover near a 2-1/2-month high as escalating Middle East turmoil lifted demand for the safe-haven asset, while investors looked forward to U.S. Federal Reserve Chair Jerome Powell‘s speech due later in the day. FUNDAMENTALS * Spot gold was up 0.2% at $1,950.83 per ounce by 0127 GMT, after
The Middle East sees a re-escalation in geopolitical tensions following a tragic strike on a Gaza hospital, leading to significant rise in both Oil and Gold prices. The effect of this development extends into Asian session. However, risk aversion is not starkly evident in other markets, as Asian indices, excluding Japan, record only marginal losses.
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Elon Musk, CEO of Tesla, speaks with CNBC on May 16, 2023. David A. Grogan | CNBC Tesla is set to report third-quarter results after the bell on Wednesday. Here’s what Wall Street is expecting, based on a survey of analysts by LSEG, formerly known