OIl daily Oil is getting harder to ignore, both as a macro factor and for its own sake. WTI settled up 85-cents today to $87.54. It’s another high settlement dating back to November. The breakout from the 2023 range has been confirmed now and the only question is where it tops out. Obviously with 9
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Gold price declined by Rs 100 to Rs 60,200 per 10 gram in the national capital on Wednesday amid weak cues in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,300 per 10 gram. “Gold extended its fall on Wednesday, with spot gold prices (24 carats)
Dollar is enjoying another rally, further solidifying its position as the strongest currency for the week so far, following an upbeat ISM Services report that well exceeded market expectations. The data affirms services sector’s dominant role in driving US economy. Additionally, it highlighted a robust uptick in both employment and prices, arguing the specter of
The dollar is in a good spot after yesterday’s advance, although sitting marginally lower so far today. The bond market selling is seeing a breather and that is helping with broader market sentiment – for now at least. There is some verbal intervention by Japan in trying to warn yen traders from going too far,
Gold traded in the red on Wednesday in the early trade with dollar shooting to a six month high level. The MCX October gold futures were trading down by Rs 58 or 0.10% from the Tuesday closing price at Rs 59,185 per 10 gram on the MCX while the December Silver futures were trading at
Forex markets have found a moment of stability in today’s Asian trading session, with Dollar taking a breather as it looks for fresh catalysts to continue this week’s rally. All eyes are now on the upcoming ISM Services data, which could prove pivotal for Dollar’s trajectory. Services sector has emerged as the main engine of
Goldman Sachs asserts that despite a macroeconomic backdrop that generally supports a weaker dollar—namely, lower rate volatility, slowing yet solid U.S. growth, and positive risk sentiment—the risks look skewed towards a stronger dollar than most market participants anticipate. This is particularly true against major currencies like the JPY, CNY, and EUR. Key Points: Lower Rate
Oil prices jumped about 2% on Tuesday after Saudi Arabia and Russia announced a fresh extension to their voluntary supply cuts, stretching a combined 1.3 million barrel per day (bpd) reduction for another three months through December. Brent crude futures for November were up $1.44, or about 1.6%, to $90.44 a barrel by 1334 GMT,
Dollar is making a powerful rally today, breaking through near-term resistance levels against all its major counterparts. This surge is anchored by recent economic data, which paints a picture of a US economy that is cooling but not cracking. This robustness stands in stark contrast to the weakening growth conditions seen in other major economies,
USD/JPY daily chart Treasuries are back open for business and with yields pushing higher again, that is underpinning the dollar ahead of European trading. In particular, USD/JPY is now up 0.3% to 146.87 as it looks to retest the highs for the year. That comes after buyers held yet another defense of the 145.00 mark
We expect volatility in bullion to continue as the global Central banks have made it clear that the era of high-interest rates is here to stay for some time unless they see sustained softening in inflation, says Pritam Patnaik, Head – Commodities, HNI & NRI Acquisitions at Axis Securities. The data trend will establish the
Australian Dollar finds itself on shaky ground today, trading lower due to lackluster investor sentiment, and stays soft after RBA’s decision to keep interest rates unchanged, a move that was widely anticipated. New Zealand Dollar is tracking its Australian counterpart, emerging as the day’s second-worst performer. Canadian Dollar is not far behind, showing weakness ahead
Florida continues to clean up from Hurricane Idalia but the season so far has been largely a non-event for the energy market. For the next week that will continue to be the case as we move through the peak of the hurricane season. At the moment,a couple storms are spinning in the Atlantic but they’re
Oil prices edged higher on Monday on expectations that OPEC+ would keep supplies tight and speculation that the U.S. Federal Reserve will cease its aggressive interest rate hike campaign. Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed by the OPEC+ producer group comprising
Japanese Yen and Dollar are experiencing broad declines today, as rebound in Chinese and Hong Kong stocks that buoyed overall market sentiment. The mood lifted on news that Country Garden, a troubled Chinese property giant, has secured an extension for a critical debt payment deadline, effectively avoiding default. Reports suggest that the company’s Chinese creditors
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Gold prices were trading in the green on Monday amid negative trends in the dollar index. The MCX October gold futures were trading up by Rs 140 or 0.24% from the Friday closing price at Rs 59,535 per 10 gram on the MCX while the December Silver futures were trading at Rs 75,234 per kg,
UPCOMING EVENTS: Monday: US and Canada Holiday. Tuesday: China Caixin Services PMI, RBA Policy Decision. Wednesday: Eurozone Retail Sales, US ISM Services PMI, BoC Policy Decision. Thursday: China Imports/Exports data, Switzerland Unemployment Rate, US Jobless Claims. Friday: Japan Wage data, Canada Jobs Report. Tuesday The RBA is expected to keep the cash rate unchanged at