Oil prices rose on Friday but are set to fall for a third week amid signs of slowing demand and as market attention turns to a key meeting of OPEC and its allies this month which will determine the group’s next move on production. Brent crude futures for January were up 99 cents, or 1.2%,
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Today’s currency market sees Euro gaining some traction, especially against Japanese Yen, which is underperforming alongside Australian Dollar. Despite RBA’s hinting at a potential rate hike, Aussie is struggling, not only against major currencies but also against its commodity-linked counterparts. British Pound, too, is lagging behind despite UK reporting GDP figures marginally above expectations. Dollar
Morning thoughts from Capital Edge’s Arno Venter (be sure to check out his Discord Channel) In terms of Powell’s comments, I have seen a lot of takes on his comments with the majority saying Powell was ‘very hawkish’, ‘overly hawkish’ or ‘more hawkish than expected’. I offer you exhibit a (Powell’s comments from 1 Nov):
Dhanteras: Here’s a look at how precious gold shined in the long-term! – The Economic Times Video | ET Now ET Now | 10 Nov 2023, 10:45 AM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=105112937&tpname=embed_video&rlvideo=1808152121″></iframe> As consumers gear-up for Dhanteras, here’s a look at how the precious gold shined in the long-term!
In today’s currency markets, Australian Dollar is notably weaker across the board, a development that comes as a surprise considering the hawkish tone of the latest RBA Statement on Monetary Policy. The statement, which leaned towards the possibility of another rate hike, seemed insufficient to bolster the Aussie. Factors such as global risk aversion and
Real money didn’t show up at the 30-year Treasury sale today. The market was looking for a yield of 4.716% but the Treasury had to pay 4.769% at the dutch auction to unload all $24 billion. That’s a bad sign on real demand for bonds and suggests that a good portion of the recent retracement
The Brent crude oil benchmark hovered above $80 a barrel on Thursday, with demand concerns and a waning war-risk premium having triggered a selloff over the past week. Brent crude futures were up $1, or about 1.3%, at $80.54 a barrel by 1445 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.01, also about
As US session unfolds, the Dollar is showing signs of rally, buoyed by recovery in benchmark treasury yield. This modest uplift comes despite a general lack of direction owing to a sluggish risk sentiment across markets. Euro is losing momentum as its earlier recovery falters, whereas other European majors are also on the back foot.
Hey Disney fans and traders on the go! 🎢🎬 Let’s dive into the quick takeaways from The Walt Disney Company’s latest earnings report for Q4 and the full fiscal year 2023: 🌟 Revenue is up, folks! Q4 saw a 5% increase, while the full year jumped by 7% compared to last year. 🌟 EPS (Earnings
Gold prices fell on Thursday as investors preferred booking profit in the absence of triggers for bullion. The prices in gold and silver declined despite a weak dollar index (DXY). MCX December gold futures were trading at Rs 59,901 per 10 gram, up by Rs 108 or 0.18% from the Thursday closing price. Meanwhile, the
Euro is showing signs of fortitude in relatively subdued market conditions today. The overnight rebounds in EUR/USD and EUR/CHF indicate that bearish traders are hesitating to drive the market, while EUR/JPY continues its upward stride. On the other hand, Dollar is engaged in a tight contest with Euro, mostly reversing its losses from the previous
US m/m inflation CPI This week is dismal on the economic data front but next week begins to get interesting because of the November 14 release of the latest US CPI report. It’s still early for estimates but the consensus so far is +0.1% m/m on the headline. That’s coming on the heels of +0.6%
Oil prices slid more than $1 on Wednesday to their lowest in more than three months on concern over waning demand in the United States and China. Brent crude futures fell $1.11 to $80.50 a barrel by 1311 GMT and U.S. crude lost $1.20 to $76.17, with both benchmarks registering their lowest levels since late
Dollar making efforts to continue this week’s rebound, but momentum appears to be lacking, except against Yen. Additionally, its ascent is being challenged by Swiss Franc, which currently stands as the day’s strongest performer, propelled by substantial buying against Euro and Sterling. Commodity currencies are capitalizing on the stabilizing risk sentiment, slowly clawing back against
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 on Wednesday having fallen to a two week low on Tuesday ahead of Dhanteras as the risk premium of the ongoing Israel-Hamas war loses steam. The Street now awaits cues on interest rate outlook from the US Federal Reserve. While the Central Bank left interest rates unchanged in the last
Dollar found itself hovering within a narrow range during Asian session, as market participants paused to reflect on recent comments from hawkish Fed members hinting at more tightening. Despite these hawkish tones, the overall risk mood found its footing after the US markets displayed resilience, with only a slight dip in Asian equities following suit.
I have been waiting for signs to evaluate whether real money was going to FOMO into bonds and early returns suggest the appetite is there. Yields retraced on Monday after last week’s big fall but they’re lower again today, led by a 12 bps fall at the long end. US 10s are down 11 bps