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Oil prices rose on Wednesday after OPEC and the International Energy Agency (IEA) both forecast a rebound in demand over the course of next year and as U.S. rate hikes are expected to ease alongside slowing inflation. Brent crude futures rose $1.31, or 1.6%, to $81.99 per barrel by 1421 GMT, while U.S. West Texas
Dollar stays generally weak today but selling pressure is so far limited. Markets are looking forward to FOMC’s rate hike as well as new economic projections. Yen is currently the strongest one for the day, followed by Aussie and Swiss Franc. New Zealand Dollar is the weakest, followed by Canadian and Sterling. Much volatility is
Headlines: Markets: JPY leads, NZD lags on the day European equities lower; S&P 500 futures flat US 10-year yields flat at 3.504% Gold down 0.2% to $1,806.23 WTI crude up 0.7% to $75.94 Bitcoin up 0.8% to $17,900 Price pressures globally are showing signs of cooling as we look towards the end of the year
Commodity Participant Association of India (CPAI) has urged capital markets regulator Sebi to facilitate uninterrupted hedging and trading in cotton futures contracts to market participants. This comes after Sebi in August suspended trading in all cotton futures contracts on commodity exchange for one month to align the contract specifications with that of the market. Later,
Dollar is recovering slightly today as focus turns to FOMC rate decision and, more importantly, new economic projections. While the greenback was sold off overnight following consumer inflation data, traders are still holding the larger bets for now. As for the week, Euro and Sterling are the strongest ones so far, followed by Yen. Commodity
Coming up from the UK on Wednesday, 14 December 2022, November inflation data: This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next
OPEC on Tuesday stuck to its forecasts for global oil demand growth in 2022 and 2023 after several downgrades, saying that while economic slowdown was “quite evident” there was potential upside such as from a relaxation of China‘s zero-COVID policy. Oil demand in 2023 will rise by 2.25 million barrels per day (bpd), or about
Dollar falls sharply together with treasury yield after US data showed consumer inflation cooled more than expected. Stock futures also jump as reaction. Australian and New Zealand Dollar appear to be leading the way up, followed by Yen and then European majors. The question now is on whether current wave of selloff would sustain pass
This is a market that has been so desperate in looking for any signs of a Fed pivot and any hints of cooler inflation since Jackson Hole in August. The reaction to the last two US CPI prints is a testament to that and the estimates today are showing that annual consumer price inflation is
After attracting funds in October, gold exchange-traded funds (ETFs) witnessed a net outflow of Rs 195 crore last month primarily due to profit booking amidst a rally in the markets. In comparison, the segment had attracted a net inflow of Rs 147 crore in October and Rs 330 crore in September. Prior to that, gold
Yen is so far the clearly weaker one in otherwise ranging markets. Rebound in US stocks and treasury yield overnight was a factor in Yen’s selling. But after all, there is no follow through weakness for now. Traders are generally still cautious ahead of the four central bank meetings later in the week. Before that,
National Australia Bank survey, confidence (at -4) and conditions (at 20) both dropped ( 0 and 22 priors, respectively). confidence negative for the first time since December 2021 Some of the sub-indexes: sales -2 to a still very strong +28 (resilience in demand citied for this) capacity utilisation just off a record high at 85.2%
NEW YORK: Oil prices gained more than $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China’s loosening COVID-19 restrictions bolstered the fuel demand outlook. Brent crude futures were up $2.38, or 3.1%, at $78.48 a barrel by 11:02
Euro is trading as the strongest one today so far, followed by Sterling, Swiss Franc and Dollar. All four currencies are going to have respective central bank meetings this week, and all are expected to hike by 50bps. Australian Dollar is leading commodity currencies and Yen lower. News flow is slow while the economic calendar
The Reuters report says that there is a split between US DOJ prosecutors, involved in the investigation that is focused on Binance’s compliance with anti-money laundering laws and sanctions. Some prosecutors believe that they have compelling evidence to move aggressively against the world’s largest cryptocurrency exchange and file criminal charges against its executives, including founder
Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut. Brent crude futures were down 38 cents, or 0.4%, at $75.72 a barrel by 0900 GMT. U.S. West Texas
Dollar rises mildly in Asian session as investors turned cautious. Euro is also firmer but Sterling is on the softer side together with Aussie and Kiwi. Market focus are on the four central bank meetings this week, and lots of important indicators. Among them, Fed’s new economic projections and dot plot would likely be most