Oil prices edged higher on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers offset concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6% after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia,
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Today’s trading remains relatively subdued, as many markets are still closed for holidays. Canadian and US Dollars are showing mild strength, while Yen struggles as the weakest currency, followed by New Zealand Dollar and Euro. Sterling, Australian Dollar, and Swiss Franc exhibit mixed performance. Most pairs and crosses stay within Friday’s range, except for Yen
Markets: Gold down $16 to $1991 WTI crude oil down 14-cents to $80.55 US 10-year yields down 1.3 bps to 3.37% S&P eminis down 1 point to 4130 Nikkei 225 up 0.2% USD leads, JPY lags There’s something of a re-trading of non-farm payrolls ongoing as the market starts to reopen from holidays and that’s
Gold prices fell on Monday as the dollar firmed after the U.S. non-farm payrolls report pointed to a tight labour market and raised the odds of another rate hike by the Federal Reserve at its May policy meeting. FUNDAMENTALS * Spot gold was down 0.4% at $2,000.57 per ounce, as of 0041 GMT. U.S. gold
Prior was +311K (revised to +326K) Two-month net revision -17K Unemployment rate 3.5% vs 3.6% expected Prior unemployment rate 3.6% Participation rate 62.6% vs 62.5% prior (was 63.4% pre-pandemic) U6 underemployment rate 6.7% vs 6.6% prior Average hourly earnings +0.3% m/m vs +0.3% expected Average hourly earnings +4.2% y/y vs +4.3% expected Average weekly hours
Gold prices hovered near record highs seen in 2020, trading steady above the key $2,000 level on Wednesday, as the dollar eased after weak U.S. economic data fanned expectations that the Federal Reserve might loosen its monetary policy trajectory. FUNDAMENTALS * Spot gold held its ground at $2,020.39 per ounce, as of 0123 GMT. U.S.
US regional banks will have a challenging start to the new week after struggling First Republic announced late on Friday that it was suspending dividend payments on preferred shares. The company said it was “as a measure of prudent oversight” but cutting the prefs is a desperation move. It was fear of Citigroup cutting its
Silver futures hit a 32-week high on Wednesday amid weakness in the greenback. Bullion prices have been on an uptrend this year as fears of an economic downturn loom on major economies. The trigger for the current rally was the poor economic data emerging from the US which led to the dollar slipping to a
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 your initial investment; do not
COMEX Gold prices saw another weekly gain of over 2% and notched a fresh one-year high of $2,049.2 per troy ounce, owing to a weaker greenback and plunging US benchmark treasury yields. A recent set of economic data from the US have pointed to a slowing economy and improved the conviction that the Fed may
It seems not long ago the earnings season ended, but it’s back again with the latest earnings rotation starting next Friday when JPMorgan, Wells Fargo, Citibank and PNC announce their earnings. The financials traditionally start the season and with the recent banking concerns, the market will be interested in how the top tier banks view
market on Wednesday, crossing the ₹61,000 mark per 10 grams. Prices on the COMEX rose to a 13-month high, while the June futures contract of gold touched a lifetime high of ₹61,181 on MCX Wednesday. Prospects of the US Federal Reserve taking a more dovish stance, and perhaps, even reducing interest rates by the end
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 your initial investment; do not
Gold prices fell on Thursday as the dollar firmed ahead of a much awaited U.S. non-farm payrolls report, as investors sought clarity on whether the Federal Reserve might take a breather on its monetary tightening path. FUNDAMENTALS * Spot gold was down 0.3% at $2,014.79 per ounce, as of 0101 GMT, after hitting an over
After hitting fresh lifetime highs for two successive sessions, yellow metal prices softened on MCX on Thursday amid the strength in the dollar index (DXY) coupled with some profit booking by investors. The dollar index regained some strength and was hovering above the 102 level against a basket of six major currencies. While the June
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 your initial investment; do not
Yen is extending this week’s rebound in Asian session, with help from extended decline in US and European benchmark yields. Investors were showing signs of worries of a sharper slowdown in US economy after much weaker than expected economic data. Dollar is recovering on mild risk aversion too, but remains the worst performer of the
Gold price plunged Rs 370 to Rs 60,370 per 10 grams in the national capital on Thursday amid a fall in the precious metal prices in the overseas market, according to HDFC Securities. The yellow metal had closed at Rs 60,740 per 10 grams in the previous trade. Silver, however, jumped Rs 260 to Rs