SINGAPORE – Oil prices slipped on Monday as concerns about fuel demand at top global oil consumers U.S. and China offset optimism about tightening supplies from any OPEC+ cuts and a resumption in U.S. buying for reserves. Brent crude futures fell 43 cents, or 0.6%, to $73.74 a barrel by 0130 GMT while U.S. West
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Spot gold rose to a near-all-time high in the first week of May. Multiple catalysts like the weak US dollar, the US debt ceiling standoff, and global economic fears pushed prices higher. Tracking overseas sentiment, spot and futures prices in the domestic market hit a historic high. Predictions of a pause in US interest rates
The major US stock indices are ending the day lower. The Dow Industrial Average is closing down (only 0.03% but still lower) for the 5th consecutive day. In the month of May, the Dow was only up one day (last Friday). The final numbers are showing: Dow industrial average of -8.9 points or -0.03% at
Ten consecutive rate hikes by the US Fed till date is a serious indication of how serious the central bank is on controlling inflation. But, the Fed’s target of 2% inflation will take much longer than its own estimates. Hence, the safe haven appeal for gold continues even now irrespective of the outcome of the
Below are the major releases for next week, organized by day, including expectations and previous release values: Monday, May 15 8:30am: USD – Empire State Manufacturing Index Expectation: -1.9 Previous: 10.8 Tuesday, May 16 2:00am: GBP – Claimant Count Change Expectation: 31.2K Previous: 28.2K 8:30am: CAD – CPI m/m Previous: 0.5% 8:30am: CAD – Median
Oil prices rose in early Asian trade on Thursday after strong demand for fuels in the U.S. outweighed concerns about the possibility of the world’s biggest oil producer and consumer defaulting on its debt. Brent crude futures rose by 26 cents, or 0.34%, to $76.67 a barrel by 0015 GMT. U.S. crude futures rose 28
In the currency markets last week, Dollar, Yen, and Swiss franc Emerged as the standout performers. Conversely, New Zealand and Australian dollars lagged, painting a picture suggestive of risk aversion within the markets. However, this sentiment has not yet manifested itself in the stock markets, at least not with major American and European indices. It’s
The USD is the ending the day as the strongest of the major currencies, while the NZD is the weakest. The move higher in the greenback can be attributed to: Higher inflation expectations from the University of Michigan Consumer survey Concerns about the debt ceiling leading to a flight to safety flow into the greenback
Oil markets regained some ground in early Asian trade on Friday with traders engaged in short-covering ahead of the weekend, but uncertainties regarding the U.S. debt ceiling and renewed fears over a U.S. regional banking crisis capped gains. Brent crude futures rose by 36 cents, or 0.5%, to $75.34 a barrel by 0051 GMT. U.S.
In the wake of comments from BoE Governor Andrew Bailey suggesting a potential pause in rate hikes, Sterling has taken a sharp downward turn overnight. Despite the expected 25bps hike yesterday, Bailey’s interview with Bloomberg TV sent ripples through the market, causing a broad sell-off of the Pound. With UK GDP data on the horizon,
The major European indices are closing the day with gains across the board: German DAX rose 0.50% Frances CAC rose 0.45% UK’s FTSE 100 rose 0.31% Spain’s Ibex rose 0.56% Italy’s FTSE MIB +1.0% For the trading week: German DAX fell -0.30% Frances CAC fell -0.24% UK FTSE 100 fell -0.31% Spain’s Ibex rose 0.95%
Dollar is capitalizing on its recent rebound in early US sessions, bolstered by data that showed a 0.4% month-on-month rise in import prices for April – marking the first increase since late 2022. This resurgence places the Greenback on track to be this week’s top performer, trailed by Japanese Yen and Swiss Franc. This picture
Gold prices tumbled Rs 710 to Rs 60,970 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. The yellow metal had settled at Rs 61,680 per 10 grams in the previous trade. Silver also plummeted Rs 2,690 to Rs 73,445 per kg. “Gold prices in the Delhi
The debt ceiling negotiations news out of the US late afternoon was that the Friday meeting planned between US President Biden and Congressional leaders had been cancelled, postponed until next week. The news further said that staff-level discussions were continuing but had not reached a stage of bothering to bring the leaders together. The White
Gold prices were steady in early Asian trade on Friday as investors assessed recent U.S. data that signalled a slowing economy and its impact on the Federal Reserve‘s interest rate trajectory. FUNDAMENTALS * Spot gold held its ground at $2,016.86 per ounce by 0021 GMT after ending lower in the previous session. U.S. gold futures
As the market holds its breath for today’s BoE rate decision and economic projections, Sterling is trading on a softer note, barring against Euro. Overnight attempts to resume the recent rally against Dollar were short-lived, with the Pound returning swiftly to its familiar range. The potential for hawkish and dovish surprises, or simultaneously both, at
The European major indices close with mixed results today led higher by France’s CAC and Spain’s Ibex. German, UK and Italy indices are lower. The final numbers are showing: German DAX -0.39% France’s CAC +0.28% UK’s FTSE 100 -0.14% Spain’s Ibex +0.16% Italy’s FTSE MIB -0.16% As London/European traders exit, a snapshot of other markets