TOKYO: Oil prices slid on Friday and were on track for weekly losses as strong U.S. economic data heightened concern that the Federal Reserve will continue tight monetary policy to tackle inflation, which could hit fuel demand even as crude stockpiles grow. Brent crude futures dropped 49 cents, or 0.6%, to $84.65 per barrel by
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Despite another rally attempt overnight, Dollar failed to break through near term range against others except versus Yen. The Japanese currency was licking wounds in Asian session but remains the worst performer for the week, following extended rebound in US and European benchmark yields. Canadian is the next weakest followed by Sterling. On the other
The major US stock indices are opening lower as traders react to the higher-than-expected PPI and expectations for more Fed hikes. The Fed’s Mester is starting the Fed speak today with a more hawkish tone. The declines in the stocks are being led by the NASDAQ index which is currently down -1.3%. The S&P index
Oil prices edged lower on Thursday after a large build in U.S. crude inventories but continued to trade in a narrow range as hopes for a Chinese demand recovery remained in focus. Brent crude futures fell 36 cents, or 0.42%, to $85.02 a barrel by 1042 GMT. U.S. West Texas Intermediate (WTI) crude futures were
Dollar is apparently trying for a breakout in early US session after strong PPI inflation data. US futures also tumble while 10-year yield jumps. Still, The greenback is staying in range so far except versus Yen. As for the week, Yen is still the worst performer followed by Kiwi and then Canadian Euro is the
Kolanovic on the surge in short-dated options trading interest, warning of a return of the 2018 ‘Volmageddon’ volatility implosion episode Says the most recent proliferation of options with zero days to expiry has similar potential to create market turmoil Kolanovic: “While history doesn’t repeat, it often rhymes” the selling of these “daily and weekly options
Oil prices angled upward in early Asian trade on Thursday as the market shrugged off a giant U.S. crude inventory build and the International Energy Agency boosted its demand outlook. Brent crude futures rose 26 cents to $85.64 per barrel by 0131 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 34 cents to
Yen’s weakness is currently a clearer development in the rather indecisive markets. Germany and UK benchmark yields are extending near term rally while US 10-year yield stands firm above 3.7%. On the other hand, 10-year JGB yield is still capped by BoJ imposed ceiling. Dollar is mixed for now after traders refused to commit over
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China will make up nearly half of this year’s oil demand growth after it relaxed its COVID-19 curbs, the International Energy Agency (IEA) said on Wednesday, but restrained OPEC+ production could mean a supply deficit in the second half. “Supply from OPEC+ is projected to contract with Russia pressured by sanctions,” the Paris-based agency said
Dollar might finally be committing to a rally after stronger than expected retail sales data. Consumer markets appeared to remain robust despite persistently high inflation. Talks of a higher terminal rate for Fed is also growing. On the other hand, Sterling was knocked down earlier today after lower than expected CPI reading, in particular against
The US CPI came in at 0.5% for the headline and 0.4% for the core. The shelter component apparently was responsible for 1/2 of the rise, but service CPI still remains a concern and not coming down. If that trend continues, it is hard to see the CPI coming down toward the 2% target soon.
Gold prices edged up on Wednesday as the dollar eased, while U.S. inflation data released on Tuesday raised expectations that the Federal Reserve will persist with monetary policy tightening. FUNDAMENTALS * Spot gold was up 0.1% at $1,856.47 per ounce, as of 0105 GMT. U.S. gold futures were little changed at $1,865.80. * The dollar
Dollar is rather indecisive in early US session. US consumer inflation slowed less than expected in January, support Fed to continue tightening, probably for longer. However, positive risk sentiment is offsetting the boost to the greenback. Sterling, on the hand, was lifted by solid job data while FTSE hitting new record high. Elsewhere, Euro Swiss
The US major indices are trading lower in the aftermath of the US CPI data this morning. A snapshot of the market currently shows: Dow Industrial Average -183.77 points or -0.54% at 34062.17 S&P index -22.69 points or -0.55% at 4114.61 NASDAQ index minus 83.53.2 -0.70% at 11808.26 Russell 2000-16.15 points or -0.83% 1924.99 in
Gold price declined by Rs 55 to Rs 56,865 per 10 gram in the national capital on Tuesday, according to HDFC Securities. The precious metal had ended at Rs 56,920 per 10 gram in the previous trade. Silver also tumbled Rs 455 to Rs 66,545 per kilogram. “Spot gold price in the Delhi markets traded
Dollar is trading on the softer side again as focus turns to CPI report from the US today. While the markets are finally buying in that federal fund rates would peak above 5% level, there are already some bets on a higher terminal rate. Meanwhile, the bets on a rate cut this year is receding
National Australia Bank business survey. The twin headlines from this are: business confidence, comes in at +6 in January from 0 in December business conditions +18 in January, from +13 in December Of the two ‘conditions’ is the more objective measure. Confidence is of course a sentiment. Some of the sub-measures in the survey: sales