Oil prices rose on Friday after strong U.S. jobs data, but were still set for weekly falls as investors sought more clarity on the imminent EU embargo on Russian refined products and more signs of demand recovery in top consumer China. Brent crude futures gained $1.16, or 1.4%, to $83.33 a barrel by 1456 GMT,
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Dollar rebounds strongly and broadly in early US session after a set of stellar job data that blows past expectations. Stock futures dive on renewed concern that interest rate will stay high for lower while benchmark treasury yield rebounds. The question now is whether the greenback could overwhelm Yen and Swiss Franc to end the
Easy come, easy go. After yesterday’s gains, stocks are giving a chunk of that back today ahead of the US non-farm payrolls later today. There are a couple of moving parts, so let’s try to sort things out. Apple and Alphabet reported misses on earnings after the close and that is weighing on tech sentiment;
New Delhi, Gold price tumbled Rs 681 to Rs 57,929 per 10 grams in the national capital on Friday amid a decline in rates of precious metal globally, according to the HDFC Securities. The yellow metal had ended Rs 58,610 per 10 grams in the previous trade. Silver also plummeted Rs 2,045 to Rs 70,335
Yen is stealing the show in the week of heavy weight events, powering up broadly with help of broad based decline in US and European treasury yields. Swiss Franc is following together with Euro while Dollar is just mixed. On the other hand, Sterling is the worst perform despite BoE rate hike, followed by Aussie
Earlier we had the flash readings: Finals: From today’s report: “The start of 2023 saw a continuation of the recent positive news in the Japanese service sector as the economy continues to recover from the pandemic. Firms were again boosted by the National Travel Discount Programme which kept orders and activity rising. “There were a
Gold price rallied Rs 770 to a record high of Rs 58,680 per 10 grams in the national capital on Thursday amid a jump in precious metal prices internationally, according to Securities. In the previous trade, the yellow metal had settled at Rs 57,910 per 10 grams. Silver also zoomed Rs 1,491 to Rs 71,666
Euro retreats notably even after ECB hikes 50bps and expresses the intention to do the same in March. Sterling is also trading lower after BoE hikes by 50bps as expected. Yen is currently the stronger one with help from extended fall in US and European benchmark treasury yields. Dollar, on the other hand, has turned
Headlines: Markets: JPY leads, GBP lags on the day European equities higher; S&P 500 futures up 0.5% US 10-year yields down 1.1 bps to 3.387% Gold up 0.2% to $1,953.66 WTI crude down 0.5% to $76.01 Bitcoin up 0.5% to $23,796 The central bank bonanza continues today with the BOE delivering a dovish 50 bps
Gold rose to a nine-month high on Thursday on a subdued dollar, as investors held onto the view that the U.S. Federal Reserve would soon end its rate hiking cycle after it announced an expected 25-basis-point increase. Spot gold was up 0.2% at $1,954.77 per ounce at 0927 GMT, having hit its highest since April
Dollar weakened broadly overnight, more on risk-on sentiment than FOMC rate decision. Yet, selloff was not particularly fierce except versus Euro and Swiss Franc. In particular, Sterling is clearly lagging behind. Judging from the upside breakout in EUR/GBP, traders are probably guarding against the possibility of a dovish twist in BoE today. As for the
Gold prices were little changed in early Asian trading on Wednesday, as investors refrained from taking big bets ahead of the U.S. Federal Reserve’s interest rate-hike decision due later in the day. FUNDAMENTALS * Spot gold was almost flat at $1,927.42 per ounce, as of 0032 GMT. U.S. gold futures were down 0.2% at $1,941.90.
Dollar falls broadly after ADP job data missed expectations, while traders await FOMC rate decision. There is no doubt that Fed will hike interest rate by 25bps today and signals that tightening is not finished. The key questions about the terminal rate, and how long interest rate will stay there, will not be answered, at
The market is still trading based on the “soft landing” narrative as inflation moderates and the labour market remains tight for the Nasdaq Composite. Yesterday, the market once again cheered on the release of the Employment Cost Index (ECI) for Q4, which missed expectations and pushed back further on the fears of a wage price
Oil prices climbed on Wednesday underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user may face a recession because of further interest rate hikes. Brent crude futures gained 20 cents, or 0.2%, to $85.66 a barrel at 0128 GMT, while
Dollar is trading in mixed manner as focuses turns to FOMC rate hike today. The recovery attempt in the greenback this week was rather disappointing. In particular, it has conceded much ground against commodity currencies and Swiss Franc. Overall, risk sentiment will likely continue to dictate the moves in the forex markets. Judging from the
S&P Global / Jibun Manufacturing PMI for January from Japan (JPY ) From the report (in brief): Subdued global economic conditions continued to hold back customer demand across the Japanese manufacturing sector in January, but there were a number of positive signals from the latest PMI survey. The rates of decline for output and new
The dollar gave up gains made earlier on Tuesday after data showed U.S. labor costs increased less than expected in the fourth quarter, and before the Federal Reserve is expected to hike rates by 25 basis points on Wednesday. The Employment Cost Index, the broadest measure of labor costs, rose 1.0% last quarter after increasing