India may find it difficult to grow faster than 8% in FY23 if crude prices persist at the current level for too long, the finance ministry said on Thursday, warning the Russia-Ukraine conflict poses an upside risk to inflation as well. The government is exploring all viable options, including import diversification, to procure crude at
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Canadian Dollar rises slightly after solid job data, but Dollar is also firm. The greenback is on track to end as the strongest one for the week, with help from extended rally in treasury yields. On the other hand, Sterling is under some selling pressures but Euro is still the worst performing one. Aussie is
The USD/CHF seesawed in the 0.9327-73 range as the pair failed to conquer 0.9400. An upbeat market mood was no excuse for the safe-haven Swiss franc to gain vs. the greenback. USD/CHF Price Forecast: A series of successive higher highs/lows in the 4-hour chart keep the uptrend intact. The greenback gives back most of its
In an earlier post, I commented that getting back above the 1.09253 level should be more bullish, but with a short leash on a break i.e. the price needed to stay above that level. Well, the price could NOT stay above the 1.09253 level, and the price has since fallen back below the 1.0900 level
WTI crude looks set to settle below $100 on the week and from the charts, we are seeing a semblance of a double bottom just below the $94 mark: That will be an important level to watch before a potential drop towards $90 next. Recent sentiment hasn’t been too kind for the oil market outlook,
NEW DELHI: Gold prices dropped during early trade on Friday as a stronger US dollar dimmed down the demand for safe-haven metal. A stronger US dollar makes gold less attractive for other currency holders. However, gold is being supported by the Ukraine uncertainty, rapid inflation, and the still persistent COVID-19 pandemic. Gold futures on MCX
Overall, the markets are rather steady so far in the last trading day of the week. Major Asian indexes are treading water. That followed a late rebound in US markets overnight. Euro weakens mildly and remains the worst performer for the week, followed by Yen and Swiss Franc. Dollar is still the strongest one, support
NYSE:AMC fell by 3.24% during Thursday’s trading session. AMC continues to decline after its mini short squeeze last week. Sonic the Hedgehog 2 is the blockbuster hitting theaters this weekend. NYSE:AMC investors are in the opposite of seventh heaven right now as the meme stock fell for a seventh consecutive session on Thursday. Shares of
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The price of crude oil moved down to test the swing low from March 15 at $93.53. The low price just reached $93.81 and is seeing a bounce back higher. The current price is trading around $95.20 that still down around one dollar on the day or -1.03%. Looking at the hourly chart, the price
I posted yesterday (and prior) that while Shanghai authorities assure us that port operations are normal they are anything but: transport in and out has been disrupted, impacting the flow of goods. Post is here, a new record high case count: Shanghai reports 20K new coronavirus cases for the day UK media adding: Shipping lines
NEW DELHI: Domestic gold prices were trading flat on Thursday as a strong US dollar following hawkish US Fed minutes dented demand for the yellow metal. Gold futures on MCX were down 0.03 per cent or Rs 15 down at Rs 51,611 per 10 grams. Silver futures were trading higher by 0.04 per cent or
Dollar remains generally firm entering into US session, even though upside momentum is diminishing slightly against European majors.Meanwhile weakness in commodity currencies persists, with Aussie being the worst one. Yen is mixed for now but should remain vulnerable on exceptional strength in global benchmark treasury yields. Technically, focuses firstly stays on commodity-dollar pairs. In particular,
EUR/USD is eyeing more downside as DXY strengths on discussions of restoration to neutral rates. The shared currency has failed to capitalize on hawkish ECB minutes and decent Retail Sales. Members of the UN Human Rights Council voted in favor of ceasing Russia as an associate. The EUR/USD pair has displayed a six-day losing streak
The GBPUSD is trading modestly higher on the day (closed yesterday at 1.3070 and trades at 1.3076 currently) in what has been a choppy trading day. The initial move in the GBPUSD was to the downside building on the down day from yesterday that first saw a price break higher (above 100 and 200 hour
2-year Treasury yields -6.7 bps to 2.435% 5-year Treasury yields -5.4 bps to 2.649% 10-year Treasury yields -2.8 bps to 2.581% 30-year Treasury yields -1.1 bps to 2.621% That might be what is offering some respite to stocks, which are hoping to snap quite a modest two-day decline. European equities holding higher with US futures