Fox with the report that former US President Trump says he’d step in as Speaker of the US House. “I have been asked to speak as a unifier because I have so many friends in Congress,” “If they don’t get the vote, they have asked me if I would consider taking the speakership until they
News
Oil prices dipped on Thursday as an uncertain demand outlook overshadowed an OPEC+ decision to maintain oil output cuts, keeping supply tight. Brent crude oil futures fell 68 cents, or 0.8%, to $85.19 a barrel by 11:07 a.m. ET (1507 GMT). U.S. West Texas Intermediate crude futures were 67 cents, or 0.8%, lower at $83.55.
British Pound emerged as the weakest link, facing headwinds following subpar construction data. Not far behind in performance was the Canadian Dollar, which felt the pressure from the ongoing plunge in oil prices. Dollar, while still in a commanding position, appears to be taking a pause, digesting its recent upticks. Contrastingly, Australian and New Zealand
Headlines: Markets: NZD leads, CAD lags on the day European equities higher; S&P 500 futures flat US 10-year yields down 1.6 bps to 4.718% Gold up 0.1% to $1,822.24 WTI crude down 1.6% to $82.88 Bitcoin up 0.3% to $27,744 It was a slower session in terms of headlines and market moves were also not
Oil extended its sharp decline on concerns that a slowdown in global growth will erode consumption. The global Brent benchmark fell below $85 for the first time since late August, while West Texas Intermediate slid below $84 after slumping the most since September last year on Wednesday. Crude’s drop followed a plunge in gasoline after
Japanese Yen is registering broad gains in today’s Asian trading session, buttressed by the 10-year JGB yield which solidly remains above the 0.8% threshold. However, the yen’s advancement is notably limited, still lingering below this week’s high, which many attribute to a suspected, yet unverified, intervention. Japanese The spotlight falls on Japanese Prime Minister Fumio
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 crept lower on Wednesday for the eighth consecutive session as elevated U.S. Treasury yields amid expectations that the Federal Reserve will keep interest rates higher for longer continued to weigh on investor sentiment. Spot gold was down 0.2% at $1,818.99 per ounce by 10:39 a.m. ET (1439 GMT), while U.S. gold futures eased
Dollar softens broadly today, as it seems traders are exercising caution, pivoting their focus towards forthcoming heavy-weight economic data releases from the US in the second half of the week. The greenback’s pull back also extends following much weaker than expected ADP private job data. Interestingly, this “bad news is good news” effect is also
Headlines: Markets: GBP leads, NZD lags on the day European equities higher; S&P 500 futures up 0.1% US 10-year yields down 1.5 bps to 4.787% Gold up 0.1% to $1,824.08 WTI crude down 2.0% to $87.47 Bitcoin up 0.7% to $27,580 As we got into European morning trade, yields were running hot once again and
oil trading at $100-a-barrel next year? Because a triple-digit price tag wouldn’t just mean elevated energy prices — it would also turbocharge the dollar. The combination of expensive barrels and a rampaging greenback could make crude a wrecking ball in 2024 that keeps inflation high enough to destroy growth around the world. The more oil
Dollar is finding strength amidst an atmosphere of palpable anxiety in the financial markets, stemming from a continuation of the risk-off mood from US into Asian session. This prevailing anxiety in the markets has been heightened by the pronounced drop in US stocks overnight, coupled with a surge in long-end treasury yields. Adding to the
Coming up from the US on Wednesday, 4 October 2023: The ADP employment data will be eyed for insight on the degree to which the pace of private job creation has been consistent with the FOMC’s objective of rebalancing the labour market. The data prior for this has indicated a moderation in private employment growth,
Gold price tumbled by Rs 650 to Rs 57,550 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had ended at Rs 58,200 per 10 grams. Silver also nosedived Rs 1,800 to Rs 71,500 per kilogramme. Gold and silver prices
In the spotlight today are the developments within the treasury markets. US 10-year yields have soared, reaching their highest point since 2007. This surge is largely attributed to expectations that Fed will keep high interest rates for longer, if not push them even higher. Fed hawks have been vocal this week, indicating the plausible scenario
Headlines: Markets: USD leads, AUD lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields up 4.6 bps to 4.730% Gold down 0.2% to $1,824.38 WTI crude down 0.5% to $88.38 Bitcoin down 1.1% to $27,541 There wasn’t much in terms of headlines during the session as the focus stays
Gold continued its slide on Tuesday, clocking its longest losing streak since Aug. 2022 in the last session as Federal Reserve officials underscored the likelihood interest rates will stay high, with U.S. job openings data expected later in the day. FUNDAMENTALS Spot gold was down 0.2% at $1,824.10 per ounce by 0057 GMT, falling for
Australian Dollar is facing heavy downward pressure, emerging as the most underperforming currency this week so far. The weak under tone is maintained following RBA’s decision to hold interest rates steady. Both Aussie and Kiwi have relinquished the gains made the previous week, a reversal exacerbated by an evident risk aversion in Asia. Significant decline