BEIJING, – Brent crude futures rose in early Asian trade on Friday, reversing losses in the previous session as traders speculated on whether OPEC+ would come to an agreement on further production cuts. Brent crude futures gained 29 cents, or 0.4%, to $81.71 at 0213 GMT, after settling down 0.7% in the previous session. U.S.
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Yen is having a moderate rebound today, spurred by slightly stronger-than-expected corporate services price inflation data. However, this uptick in is showing only restrained momentum, especially noticeable even against a weaker Dollar. The limited rise can be attributed to low market activity, as there are no significant events scheduled for the day. Nevertheless, this tranquility
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 edged higher on Friday and were on track for their second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve is done with its interest rate hikes. FUNDAMENTALS * Spot gold was up 0.1% at $1,993.96 per ounce, as of 0123 GMT. Bullion has risen
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
Spot gold closed with a weekly gain of nearly 1.10% at $2002.85 as traders look forward to a possible Fed pivot. The metal gained 0.60% Friday. S&P Global US PMI data was released Friday. US manufacturing PMI (November preliminary) at 49.40 trailed the forecast of 49.90, however, services and composite PMI at 50.80 and 50.70,
Canada retail sales Friday’s Canadian retail sales report for September far-surpassed expectations at +0.6% compared to a flat reading expected. In addition, the advance reading for October was +0.8% in a sign of even-more strength. CIBC highlights a contrast in consumer spending patterns in the report. While auto sales surged, there was a noticeable dip
The Reserve Bank of India (RBI) has announced the final redemption price of the first tranche of the sovereign gold bond (SGB) scheme at Rs 6,132 per gram and fixed the redemption date as November 30, Thursday. The investors who invested in the scheme have made an income of a whopping 128% (Rs 3,448) over
The major US indices are closing mixed on the day with the Dow leading the way higher. The broader S&P is little changed, while the tech-heavy Nasdaq is down marginally. The final numbers are showing: Dow Industrial Average is up 117.12 points or 0.33% at 35390.14 S&P is up 2.70 points or 0.06% at 4559.33
In the realm of investment, Sovereign Gold Bonds (SGBs) have emerged as a game-changer, heralding a paradigm shift by transforming paper gold into a bona fide and recognized asset class in India. As the first tranche of these bonds approaches maturity on 30th November 2023, it not only marks a significant milestone but also reflects
Dollar ended as the weakest performer last week, with it poor performance aligning with broader rally in both stock and commodity markets, underpinned by growing investor sentiment favoring US economic soft-landing. Furthermore, minutes from FOMC meeting suggested a potential softening of Fed’s hawkish stance. As risk-on sentiment seems poised to continue in the near term,
The CAD is ending the day as the strongest of the major currencies while the USD is the weakest. The USDCAD is the biggest mover in trading today Canada retail sales came in much stronger than expected with a gain of 0.6% for the month. That was much higher than the 0.0% gain expected. The
Gold prices bounced back above the key $2,000 level on Friday as it heads for its second consecutive weekly gain, with bullion getting a boost from a drop in the U.S. dollar and bets the U.S. Federal Reserve might soon end its interest rate-hiking cycle. Spot gold was up 0.5% at $2,001.39 per ounce as
Canadian Dollar is having a notable rebound in early US session, fueled by unexpectedly robust Canadian retail sales data. This data indicated a surprising resurgence in consumer spending, defying the constraints of high interest rates and ongoing inflation. Despite this uplift, Loonie was overshadowed by New Zealand Dollar, which also saw a lift from its
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 traded with minor gains in the opening trade on Friday, though it appears set to end with weekly gains for the second time in a row. The uptick was on account of weakness in the dollar index (DXY), which is trading at 11-week lows. Taking cues from the international prices, MCX December gold futures
Trading activity is rather subdued in Asian session today, with most major currency pairs and crosses hovering within yesterday’s range. Yen is showing a slight recovery, albeit in the context of mixed inflation and PMI data. While Japan’s core CPI remains persistently above BoJ’s target, the latest figures haven’t provided a strong impetus for the
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