weekly oil WTI Sentiment in oil might finally be so washed out that it’s safe to wade in. The US announced another 3 million barrels of purchases to refill the SPR today and that’s a modest positive catalyst as the White House is able to refill it at prices below what they paid. I’d argue
News
Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts. Brent crude futures were up $1.46, or 2%, at $75.51 a barrel at
Markets: Gold down $26 to $2002 WTI crude up $1.82 to $71.16 US 10-year yields up 10.6 bps to 4.23% S&P 500 up 0.5% to a 52-week high CAD leads, NZD lags It’s often said that even if you knew the results of the non-farm payrolls report ahead of time, it would be tough to
The week ending December 8 was a tumultuous one for gold as the metal, on seemingly dovish Fedspeak, reached a fresh all-time high of $2,135 in the Asian session, before it closed lower the same day to consolidate for the rest of the week until Friday. It slid further lower to close with a weekly
The global financial markets last week were primarily influenced by three pivotal themes: Yen’s dramatic rise, Dollar’s strength following robust US employment data, and repercussions of Moody’s downgrading China’s rating outlook. The most striking was the Yen’s significant surge, driven by intensified speculation about an impending exit from negative interest rates by BoJ. The anticipation
The US jobs report was stronger than expectations. That sent yields higher, but when the Michigan consumer sentiment also showed strength but with sharply lower inflation expectations, stocks rebounded. Although prices traded up and down and today, they are closing higher and in the process the: S&P index traded to a new 52-week high and
Gold prices fell on Friday as the dollar and Treasury yields strengthened after traders lowered bets for US interest rate cuts to materialize by March next year following a stronger-than-expected jobs data. Spot gold fell 1% to $2,008.79 per ounce by 9:55 a.m. ET (1455 GMT), and was down nearly 1% for the week so
Japanese Yen continues to dominate as the strongest currency for the week, finding additional support from Japan’s unexpectedly robust wage growth data. However, its rally is currently pausing, with global financial markets redirecting their focus towards the impending US non-farm payroll data. Dollar, currently ranking as the second strongest currency, faces a critical test with
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
Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,512 at the opening time, up Rs 46 or 0.07% from Thursday’s closing price. Meanwhile, the March Silver futures were trading at Rs 74,649 per kg, higher by Rs 336 or 0.45%. Read More In
Dollar jumps in early US session, buoyed by a robust set of employment data. headline job growth exceeded expectations, narrowly missing 200k mark, while unemployment rate showed a decline. This data suggests a still-tight job market, raising concerns among some market participants that underlying inflation pressures may not be easing as hoped. Notably, strong wage
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
Oil prices reclaimed some ground on Thursday after tumbling to a six-month low the previous day, but investors remained concerned about sluggish demand in the United States and China. Brent crude futures were up 60 cents, or 0.8%, at $74.90 a barrel by 1455 GMT. U.S. West Texas Intermediate crude futures rose 56 cents, or
Yen is trading as the runaway leader in today’s market, dominating traders’ focus. This rally was initially triggered by comments from BoJ Governor Kazuo Ueda regarding the central bank’s potential strategies upon exiting negative interest rates. Buying momentum for then intensified further following Ueda’s meeting with Japanese Prime Minister Fumio Kishida to discuss his monetary
It takes awhile for declines in used car prices to filter into the CPI but it’s coming. In October, used car prices fell 2.3% and they’ve fallen another 2.1% in November, according to Manheim. On a year-over-year basis, prices fell 5.8%. “While November’s decline was only slightly less than October’s, the move lower was on
Gold prices fell on Thursday, dragged by an uptick in the dollar index which has managed to claw back to levels above 104 after falling to nearly 11-week lows. It is now trading at two-week highs. MCX February gold futures were trading at Rs 62,413 at the opening time, down Rs 27 or 0.04%, tracking
Yen and Dollar strengthened notably in Asian session today, amid a backdrop of risk aversion that’s reflected in the continued downturn in Hong Kong’s stock market and softness in Japan. A key factor impacting market sentiment is the unexpected slump in China’s imports, including the decline in crude oil imports – the first such annual
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