New Delhi: Oil marketing companies (OMCs) have lost an estimated ₹10-12 on the sale of a litre of petrol and diesel in the current quarter, which can be only partly offset by increased refining margins, brokerage ICICI Securities said in a note on Thursday. “Despite the strength seen in refining, overall earnings for OMCs will
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The NZD/USD erased early week losses and finished the week flat. On Friday, recession fears abated, but growing risks remain skewed to the downside. St. Louis Fed’s Bullard commented that the US economy is fine and that recession worries are exaggerated. The New Zealand dollar recorded solid gains vs. the greenback, snapping two days of
The prerequisites to run a Bitcoin Lightning node include an amount of Bitcoin to fund your Lightning channel, fiat money to buy the hardware equipment(s), and a Lightning-compatible wallet. Remember that Lightning nodes are non-mining nodes, which means you aren’t mining Bitcoin but are vital to validating Bitcoin blocks. Validation Nodes are the most common
Yesterday, the USDJPY rallied once again and in the process broke above the June 14 high of 135.579. That move took the price to the highest level going back to September 1998 – nearly 24 years ago. The high price closed the day near the high for the day at 136.70. A topside trend line
WTI crude oil climbed $3.35 to settle at $107.62 while brent finished the week at $113.12. Both are lower compared to last Friday’s close and that’s the second week in a row of declines but it follows a streak of seven consecutive weekly gains. Overall, crude is right in the middle of the range since
Oil prices rose slightly in early Asian trade on Friday as nations seek to address global crude oil and fuel supply tightness. Brent crude futures rose 39 cents, or 0.4%, to $110.44 a barrel at 0012 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 37 cents, or 0.4%, to $104.31 a barrel. The
The forex markets were rather mixed last week. Yen ended as the worst performer, but Swiss Franc was the best. Canadian Dollar rose against all but Franc, while Aussie and Kiwi were weak. Euro was mixed together with Sterling wile Dollar was ended lower against all but Yen and Kiwi. Overall, there were hints of
The EUR/USD is about to end the week hovering around 1.0550, with a modest gain. Analysts at Rabobank continue to see the risk of a dip back to the year’s low at the 1.0350 region on a one to three-month view. They revised lower their 12-month forecast to 1.08 from 1.10. Key Quotes: “The move
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The yields in the US have taken another step to the downside as Powell speaks to demand destruction. The 2 year yield is now down about -12 basis points. The 10 year is also lower by about the same -12 basis points. Looking at the chart of the 2 year yield, the yield has now
Markets: S&P 500 up 115 points, or 3.0%, to 3914 US 10-year yields up 6.8 bps to 3.14% WTI crude oil up $2.79 to $107.66 Gold up $4 to $1826 AUD leads, JPY lags After hiking by 75 basis points instead of the 50 bps he long-ascribed to, Powell cited the jump in inflation expectations
NEW DELHI: Gold futures fell marginally on Friday morning, as the dollar stayed firm amid expectations of a 75-basis-points Fed rate hike in July. Gold August futures fell Rs 44 or 0.09 per cent to Rs 50,550 per 10 grams on in early trade. Silver July futures were trading flat at Rs 59,505.00, up Re
Overall, the forex markets are pretty much staying in range, except for a few. Aussie and Kiwi are the weaker ones for the week, as weighed down by negative sentiment, as well as falling commodity prices But Dollar isn’t too far behind, following the pull back in treasury yields. Swiss Franc and Sterling are the
Brexit Tensions are increasing and may weigh on the British pound in coming months, warn analysts at Danske Bank. They also point out that relative interest rates have weighed on EUR/GBP for quite some time but not anymore. Key Quotes: “It is still worth keeping an eye on the EU-UK negotiations on the implementation of
The Los Angeles Times reported Friday that recently opened NFT-themed burger joint Bored & Hungry no longer accepts cryptocurrency as a form of payment for its food. When questioned, one Bored & Hungry employee told the Los Angeles Times “Not today — I don’t know.” The individual didn’t give any indication of when the decision
The EURUSD moved above the swing area new 1.0545 and approached the 50% midpoint of the move down from the May 30 high. Sellers initially leaned against that level, but after backing off on the 1st test of the retracement level, the price based and moved to and through the level. The price has now
Oil has been a crazy trade this week with the commodity getting pounded — seemingly without an oil-specific catalyst — only to start a bounce on Wednesday. Crude ended last week at $109.56 and sank as low as $101.53 on Wednesday. Now it’s trading up $4 today to $108.19. If it can gain another $1.40,