The markets are rather mixed in Asian session today, engaging in mostly consolidative moves. New Zealand Dollar trades broadly lower following record low consumer confidence data. But Canadian and Australian Dollars are firmer on steady risk sentiment. Dollar is also weak together with Yen while European majors are mixed. Technically, NZD/USD dips slightly after failing
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MELBOURNE: Oil prices skidded in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on major U.S. firms to help ease the pain for drivers during the country’s peak summer demand. U.S. West Texas Intermediate (WTI) crude futures fell $1.34, or 1,2%, to $108.18
Democrats increasingly look at this chart as a second-derivative on US inflation. It’s Biden’s approval rating: The trend is not his friend and various strategies including messaging like ‘Putin’s price hike’ or blaming the Fed aren’t having the desired effect. Janet Yellen is likely going to be sacrificed to the inflation gods after the global
Oil prices rose almost $2 on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.80, or 1.6%, to $115.93 a barrel by 1209 GMT. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday,
Yen’s selloff accelerates today as US stocks are set to stage a rebound after the long weekend. For now, Euro is the strongest one with help from rebound against Sterling and Swiss Franc. It’s followed by Canadian Dollar, which is supported by slightly better than expected retail sales data. On the other hand, Kiwi and
RBA (read from the bottom up for the chronology): Other: The focus of the early part of the session was on the Australian dollar, Reserve Bank of Australia Governor Lowe speaking, and then the minutes of the RBA June meeting. This is how it played out (there’s a “but” at the end): AUD/USD inched a
Gold prices edged up on Tuesday as the dollar eased, even as investors kept a keen eye on posturing from major central banks on interest rate hikes for a clearer outlook for bullion. FUNDAMENTALS * Spot gold was up 0.2% at $1,841.01 per ounce as of 0047 GMT. U.S. gold futures firmed 0.1% to $1,843.10.
Overall markets are rather steady in Asian session today. Even the free falling crytocurrencies are stabilizing slightly. Major Asian indexes, except Nikkei, are treading water. Dollar and Yen are softening slightly with Sterling. Aussie and Euro and mildly higher. But most major pairs and crosses are just stuck inside Friday’s range. Sterling would be a
Headlines: Markets: AUD and NZD lead, USD lags on the day European equities higher; S&P 500 futures up 0.8% Gold down 0.1% to $1,837.62 WTI crude up 0.7% to $110.30 Bitcoin up 1.6% to $20,875 With it being a long weekend in the US, markets are seeing less appetite to stray away from Friday’s bit-part
After a strong performance earlier this month, oil prices sold off violently last week, falling sharply along with risk assets including stocks. For the week, Brent futures declined for the first time in five weeks, while WTI dropped for the first time in eight weeks. Crude oil fell 7 per cent on Friday and was
Markets are generally quiet today, with a near empty European calendar and US holiday. Major European indexes are recovering slightly but lack follow through buying. Gold and oil are staying in tight range. In the currency markets, Aussie and Kiwi recover mildly while Dollar, Yen and Euro are the softer ones. But with the exception
The emerging negativity in global markets today is likely stemming from China. Iron ore prices are down 9% on fears of a demand slowdown. China’s CSI energy index is down more than 5%, rebar is down 6% and the coal index is down 4.5%. The PBOC met today but offered nothing new on policy, leaving
SINGAPORE: Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand. Brent crude futures gained 20 cents, or 0.2%, to $113.32 a barrel by 0105 GMT, after rising as much as
The price of WTI crude oil is settling -$7.26 lower at $107.99. That is for the August contract. For the July contract has its last day of trading on June 21. It settled at $109.56 down -$8.03 or -6.83%. The move lower has been helped by the stronger dollar, but is also be reflective of
Investment in Sovereign Gold Bonds (SGBs) went up sharply during COVID-impacted years as investors looked for safer options amid volatility in equity markets with 2020-21 and 2021-22 accounting for nearly 75 per cent of total sales of the bonds since the inception of the scheme in November 2015. The next tranche of SGBs is scheduled
NEW DELHI: Gold prices dropped on Friday, thanks to the firm US dollar and higher treasury yields, which weighed on the demand for the safe-haven metal. The yellow metal is headed for the biggest weekly drop since May. Gold futures on were trading lower, easing about 0.10 per cent or Rs 52 to Rs 50,934
I can’t remember many things that have ever fallen for 12 straight days but here we are. Bitcoin is down another $2420 today, breaking the $20,000 level and continuing lower to $18,171, which is scarcely above the session lows. This is the lowest since mid-December 2020 and there isn’t much in the way of support
Net reactions of the global markets to Fed’s 75bps rate hike were rather negative. Global stocks ended generally lower after initial recovery. Additionally, SNB delivered a surprised 50bps rate hike while BoE’s 25bps had a hawkish undertone with three members wanted more. BoJ stayed calm and kept interest rate unchanged while maintaining the 10-year JGB