Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. Brent crude futures rose $2.17, or 2.57%, to $86.67 a barrel by 0900 GMT. U.S. West Texas Intermediate (WTI) crude
News
The markets are overall staying in directionless mode for now. Dollar’s selloff overnight didn’t last, as risk rally faded quickly. The greenback in actually the strongest one in Asian session, while Aussie and Kiwi are the weakest, indicating some risk aversion. As for the week, Sterling is so far the best performer, followed by Swiss
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
Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China’s recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures firmed
Dollar sellers are back in control today, as markets appear to turn back into risk-on mode. In particular, FTSE is hitting another record high. The greenback is still inversely coupled to risk sentiment. Swiss Franc and Canadian are trailing Dollar as the next weakest. On the other hand, Kiwi and Aussie are the strongest, followed
Headlines: Markets: NZD leads, USD lags on the day European equities higher; S&P 500 futures up 0.7% US 10-year yields down 3.7 bps to 3.599% Gold up 0.4% to $1,883.82 WTI crude down 0.2% to $78.29 Bitcoin down 1.3% to $22,656 After risk appetite soured in US trading yesterday, we are seeing things run back
Gold price rose Rs 35 to Rs 57,410 per 10 grams in the national capital on Thursday, according to Securities. The precious metal had ended at Rs 57,375 per 10 grams in the previous trade. Silver, however, fell Rs 5 to Rs 67,941 per kilogram. “Spot gold prices in the Delhi markets traded at Rs
Price actions in Asian session remain indecisive. Euro is staying as the worst performer today, weighed down by cross selling against Swiss Franc and, to a lesser extent, Sterling. Aussie and Kiwi are the stronger ones but overwhelmed by the Franc. Dollar and Yen are mixed for now awaiting further guidance from risk sentiment. US
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 edged lower in a choppy session on Wednesday due to a slight uptick in the dollar, while investors looked forward to more economic data to gauge the U.S. Federal Reserve’s rate-hike strategy. Spot gold was down 0.1% at $1,872.44 per ounce by 10:27 a.m. ET (1527 GMT). U.S. gold futures rose 0.4% to
Dollar is slightly on the softer side in Asian session today. Fed Chair Jerome Powell’s affirmed the markets overnight that disinflation process has started. The comments give risk sentiment a lift and pulled the greenback lower. It remains to be seen if Dollar is just digesting the near term gains or topping. Some more time
Headlines: Markets: GBP leads, USD lags on the day European equities higher; S&P 500 futures down 0.3% US 10-year yields down 2.3 bps to 3.651% Gold up 0.3% to $1,880.13 WTI crude up 1.0% to $77.93 Bitcoin down 0.1% to $23,170 It was a very quiet session in European trading today as markets settle down
Gold price jumped Rs 335 to Rs 57,463 per 10 gram in the national capital on Wednesday amid a rally in yellow metal prices internationally, according to Securities. The precious metal had settled at Rs 57,128 per 10 gram in the previous trade. Silver climbed Rs 516 to Rs 68,075 per kilogram. “Spot gold prices
The markets are quiet today with a light economic calendar and slow news flows. European majors are generally higher, in particular with Sterling and Euro paring some earlier losses. Commodity currencies turned softer, but Yen is the weaker one. Dollar is mixed in between. Trading could remain subdued till Friday when UK GDP and Canadian
The National Institute for Economic and Social Research (NIESR) in the UK with a worsening outlook: UK GDP +0.2% in 2023, +1.0% in 2024 (its November forecasts: 2023 +0.7%, 2024 +1.7%) UK CPI averaging 8.3% in 2023, 4.2% in 2024 (November forecasts: 2023 8.0%, 2024 3.9%) Reuters add that: NIESR Director Jagjit Chadha said the
Oil prices rose for a second-straight session on Tuesday, driven by optimism about recovering demand in China and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. Brent crude futures were up 98 cents, or 1.2%, to $81.97 a barrel by 10:50 a.m. EST (1551 GMT), while
While Dollar is now the strongest one for the week, buying remains not too committed, except versus the weak Pound. The greenback is indeed mixed, awaiting more guidance from Fed Chair Jerome Powell’s speech. Yen is currently the strongest one for today,. Australian Dollar is trailing as the impact of RBA’s hawkish hike is fading
Headlines: Markets: AUD leads, EUR and GBP lag on the day European equities slightly higher; S&P 500 futures up 0.1% US 10-year yields flat at 3.632% Gold up 0.2% to $1,871.78 WTI crude up 1.6% to $75.27 Bitcoin up 0.3% to $22,984 It was a bit of a slower session as markets are feeling more