The International Energy Agency (IEA)lifted its demand outlook partly due to power generators switching to oil: “Natural gas and electricity prices have soared to new records, incentivising gas-to-oil switching in some countries” That’s from its monthly oil report published Thursday. In it the IEA raised its outlook for 2022 oil demand by 380,000 barrels per
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Dollar selloff resumes in early US session after lower than expected PPI reading. Aussie and Kiwi are strong as supported by risk-on sentiments but Canadian is lagging behind. Yen is also firm, together with Swiss Franc, thanks to falling yields. Euro and Sterling continue to be mixed. In other markets, Gold is struggling to take
Gold in the national capital on Thursday declined Rs 347 to Rs 52,709 per 10 grams amid decline in international yellow metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 53,056 per 10 grams. Silver also fell sharply by Rs 455 to Rs 59,103 per kg from
Headlines: Markets: NZD leads, GBP lags on the day European equities mixed; S&P 500 futures up 0.4% US 10-year yields down 2 bps to 2.76% Gold up 0.1% to $1,794.63 WTI crude up 0.7% to $92.55 Bitcoin up 3.0% to $24,623 It was another quiet session in terms of headlines but there were some decent
After yesterday’s selloff, Dollar is recovering slightly in Asian session today. But the greenback remains the worst performing one for the week. New Zealand and Australian Dollars are taking most advantage for now, helped by risk-on sentiment. But Swiss Franc and Yen are also strong on falling major benchmark yields. Euro and Sterling are on
NEW DELHI: Gold prices struggled on Wednesday thanks to a stronger dollar which dented bullion’s appeal ahead of much-awaited inflation data scheduled later in the day. The Fed hiked rates by 75 basis points each in June and July to rein in soaring inflation. Although gold is seen as a hedge against inflation, higher US
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Dollar falls broadly in early US session after data shows headline CPI slowed more than expected, which core inflation held steady. Yen is gaining most against the greenback for now, with extra help from falling treasury yields. But it’s unsure for now long Yen’s rally against others could last. Also, it’s hard to say which
New Delhi: Gold prices eased by Rs 60 to Rs 52,811 per 10 grams in the national capital on Wednesday in line with losses in the precious metal in the global markets, according to Securities. The precious metal had closed at Rs 52,871 per 10 grams in the previous trade. Silver declined by Rs 575
There’s not much in it so far in European morning trade as market players are all waiting on the US CPI data later today before firming up any convictions. Major currencies were more pensive earlier and little changed but we are seeing some light moves now with the dollar slightly softer. That said, it isn’t
The forex markets are somewhat in hibernation mode this week. Dollar is currently the weakest one, followed Yen. Commodity currencies are generally firm. But Swiss Franc is the strongest, thanks to buying against the weakening Euro and Sterling. But overall, with the exception of a few Yen pairs, major pairs and crosses are staying inside
Oil prices dipped in early trade on Tuesday on the latest progress in last-ditch talks to revive the 2015 Iran nuclear accord, which would clear the way to boost its crude exports in a tight market. Brent crude futures fell 27 cents, or 0.3%, to $96.38 a barrel at 0027 GMT, paring a 1.8% gain
This earlier on dollar implications of the CPI from Morgan Stanley: The data is due at 1230 GMT: 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
Euro rises slightly as market sentiments are flip-flopping today. Sterling and Swiss Franc are also trading higher. On the other hand, commodity currencies turn soft with Aussie paring most of recent gains. Dollar and Yen are mixed for now. IN other markets, Silver is trading firmer but Gold is still range bound. WTI crude oil
Gold prices were flat on Tuesday as dollar and Treasury yields fell, while investors looked forward to U.S. inflation data later this week that could offer more clarity on the Federal Reserve’s rate hike path. FUNDAMENTALS * Spot gold were flat at $1,786.86 per ounce, as of 0112 GMT, after rising 0.8% in the previous
Headlines: Markets: EUR leads, CAD lags on the day European equities lower; S&P 500 futures down 0.2% US 10-year yields up 3.6 bps to 2.80% Gold up 0.1% to $1,791.13 WTI crude up 1.3% to $91.91 Bitcoin down 3.1% to $23,320 It was a quiet session with little in terms of headlines or narratives for
The forex markets are very quiet in Asian session today, and could remain so for the day with an ultra light economic calendar. Australian Dollar and Swiss Franc are currently the stronger ones for the week, followed by Canadian and Kiwi. On the other hand, Dollar and Yen are both on the softer side, together
Gold prices are hovering near a month’s high, having climbed sharply from their recent lows. The rising tensions between the US and China have given a leg-up to the yellow metal. However, upbeat jobs data in the US, recovery in the dollar and firm bond yields dented the bullion’s appeal. Traders are also awaiting the