Markets: Gold up $7 to $1992 US 10-year yields down 9.3 bps to 4.57% WTI crude oil down $1.64 to $80.83 S&P 500 up 1.0% NZD leads, USD lags This week marked a turn of the calendar and a turn in markets. Treasury yields plunged and the dollar sank along with them. Meanwhile, it was
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Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased. Brent crude futures rose 6 cents to $86.91 a barrel by 0010 GMT, while U.S.
Dollar experienced a pronounced dip as yields fell and stocks surged overnight, with the selling pressure continuing into Asian session. This comes even though Chair Jerome Powell left the door open for more tightening, after leaving interest rates unchanged. Contrastingly, market participants appear to be leaning even more towards the idea that Fed may have
There are reports of an earthquake being felt in New Delhi, with buildings shaking. A related report cites a 6.2 magnitude earthquake in the Nepal region, however the USGS classifies it at 5.6. It’s 11:45 pm local time in New Delhi so people would be indoors. The duration was a reported 40-50 seconds. New Delhi
Oil prices fell on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S. Federal Reserve has done hiking interest rates in the world’s biggest oil consuming economy. Brent crude futures were down $1.21, or 1.4%, to $85.64 a barrel at 1431
Markets reacted with notable positivity to the latest US. non-farm payroll report, which showed weaker-than-expected growth in jobs, a higher unemployment rate, and subdued wage inflation. Stock futures leaped as the data appeared to assuage investor concerns about further tightening by Fed. In a sharp response, 10-year Treasury yield plunged through 4.55% level, exacerbating the
As 10-year Treasury yields basically undoes whatever happened in October, equities are finding much comfort especially in the last two days. Tech stocks have been surging but general sentiment in itself is extremely buoyed as major indices look to wrap up the week with another round of gains. That would make it five for five
Gold traded flat on Friday amid a steady dollar index (DXY). MCX December gold futures were trading at Rs 60,900 per 10 gram, down by Rs 11 or 0.02% from Thursday’s closing price. Meanwhile, the December silver futures were trading at Rs 71,248 per kg, lower by Rs 152 or 0.21%. On Comex, gold futures
Dollar continues to languish as one of the weakest performers of the week, sharing the lower rungs of performance with Yen and Swiss Franc. This dynamic comes in the wake of a robust rally in global stock markets and a pronounced pullback in treasury yields. Investors and policymakers alike are now poised for the release
CNN reports that the US intelligence community believes that Iran and its proxies are calibrating their response to Gaza to avoid direct conflict with the US and Israel. “This is a very fine line to walk,” Christy Abizaid, the director of the National Counterterrorism Center, told a Senate committee on Tuesday. “And in the present
Oil gained 1% on Thursday to snap a three-day decline as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold. Brent crude futures were up 91 cents, or 1.08%, at $85.54 a barrel by 1250 GMT, while U.S. West Texas Intermediate crude futures gained 83 cents, or
In the wake of BoE’s decision to maintain interest rates unchanged, Sterling exhibited a mixed performance, gaining against Dollar yet faltering when paired with the Euro and commodity-linked currencies. The voting pattern at the BoE leaned slightly more hawkish than anticipated, but the newly projected rate path suggests the peak in interest rates was reached
The dollar has been the frontrunner in the last few months and it owes much to a rout in the bond market. Soaring Treasury yields alongside a more robust economy helped to provide the necessary tailwind for the dollar to outperform its peers. But now, are we poised for a reversal and a stop to
US Federal Reserve’s dovish commentary on the course of future rate decisions dented the prospects of greenback on Thursday, aiding yellow metal prices. MCX December gold futures were trading at Rs 60,866 per 10 gram, up by Rs 81 or 0.13% from Wednesday’s closing price. Meanwhile, the December Silver futures were trading at Rs 71,826
The forex markets displayed a calm demeanor during Asian session today, with traders eagerly anticipating FOMC rate decision. After experiencing a tumultuous selloff, Yen found some semblance of stability, courtesy of verbal intervention by Japan. Nonetheless, it remains the week’s laggard, pausing momentarily with the possibility of further decline on the horizon. This weakening Yen
The US dollar is under pressure following a soft ISM manufacturing report. The main catalyst is the bond market as yields fall 7-10 bps across the curve. US 10-year yields have backed further away from 5%. US 10s The Treasury announced new auction sizes for bonds today and 10-year sizes weren’t as large as feared.
Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus. Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas
US 10-year yields is seeing a notable drop after Treasury unveiled its auction plan. In a closely monitored move, the department announced a USD 2B/month increase in 10-year bond sales. This increment was below market’s anticipated USD 3B hike. The decision appears to bolster 10-year treasury price, subsequently pressing down 10-year yield. US stock futures