SINGAPORE: Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude fell 37 cents, or 0.4%, to $89.10 a barrel by 0127 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude
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The weekly oil open will be the spot to watch after the Biden administration took a step towards thawing relations with Iran. A group of nations are in what looks like the final stretch of negotiations towards reviving the Iran nuclear deal. The US restored a waiver that that had been rescinded by Trump in
Feb 4: Gold prices were steady on Friday, and set for a weekly gain as a weaker dollar, concerns over stubborn inflation and tensions surrounding Ukraine lifted demand for the safe-haven bullion. FUNDAMENTALS * Spot gold was at $1,806.86 per ounce, as of 0132 GMT. In the previous session, bullion touched $1804.4 as a weaker
I’ve fired off a few mistaken headlines at ForexLive so I can sympathize but this was a doozy. I don’t think it hit the newswire and so the damage was minimal but it’s a reminder that even a great trade can get ruined by something as simple as a headline mistake. Go easy on the
HOUSTON: Oil prices are increasing, again, casting a shadow over the economy, driving up inflation and eroding consumer confidence. Crude prices rose more than 15% in January alone, with the global benchmark price crossing $90 a barrel for the first time in more than seven years, as fears of a Russian invasion of Ukraine grew.
It was a week a surprises. While BoE delivered that a 25bps hike, four of the nine MPC members have indeed voted for a 50bps raise. However, there was no follow through buying as BoE indicated only “modest” tightening would follow. Also, the event was overshadowed by ECB’s unexpected hawkish turn. Then, after US ADP
A stronger than expected US jobs report shocked the market. Nonfarm payroll jobs added 467K vs expectations of around 150K (and probably whispers of something less than that). The ADP employment change came in at -303,000 earlier this week, and Fed officials warned that the jobs report was likely to be weaker as well. That
SINGAPORE: Oil prices climbed on Friday, extending sharp gains in the previous session sparked by persistent supply concerns and as frigid weather cascades across the United States, threatening to further disrupt fragile oil supplies. Brent crude was up 16 cents, or 0.2%, to $91.27 a barrel by 0102 GMT, after rising $1.16 on Thursday. U.S.
Dollar is rebounding strongly in early US session following much better than expected job and wage growth. The greenback is apparently turning the tide against all major currencies, except Euro. The common currency is still the runaway winner for the week, as boosted by surprised hawkish turn in ECB. In other markets, DOW futures took
The strong jobs report put a 50 basis point hike in March on the table and that means that Fed commentary will take on new importance while all economic data will be closely watched. Next week starts out light with a calendar that essentially bare save for the lowly consumer credit report but it picks
New Delhi: Gold price in the national capital on Friday gained Rs 34 to Rs 47,918 per 10 grams in line with a rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,884 per 10 grams. Silver also jumped Rs 330 to Rs 61,006
Euro remains in the spotlight in Asian session, as post-ECB rally is extending. Dollar is particularly in pressure as markets are awaiting disappointment from non-farm payroll job data. Yen is currently the second weakest for the week, following the greenback. Aussie is the second strongest, next to Euro, followed by Kiwi. Focuses will turn to
Despite the bounce in US futures, equities sentiment is failing to really convince in European trading so far. Regional indices are now holding more mixed after a positive open with gains trimmed across the board. This comes as European bond yields are continuing to tick higher, building from the hawkish overtones from the ECB yesterday.
NEW DELHI: Gold prices were little changed on Friday, marginally up and set for a gain on a weekly basis. A weaker dollar, concerns over stubborn inflation and tensions surrounding Ukraine lifted demand for the safe-haven bullion. The dollar index was set for its biggest weekly drop since March 2020, lifting demand for the greenback-priced
It looks like ECB is beating BoE in the race of hawkish surprise in a jam-packed day. Sterling spiked higher after four of the nine MPC members have indeed voted for a larger hike of 50bps. However, there was no clear follow through buying as BoE indicated there will only be “some further modest tightening”
With Paypal yesterday and Meta today, two big names have taken a big fall – like > 25% fall in one day after earnings and guidance disappointments. After the close, Amazon will not only be one of the last big cap names to report (the last of the FAANG), but it will also represent the
New Delhi: Gold price in the national capital on Thursday gained Rs 37 to Rs 47,902 per 10 grams supported by rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,865 per 10 grams. However, silver tumbled Rs 536 to Rs 61,102 per kg from Rs 61,638 per
The forex markets are generally steady in Asian session, as traders await ECB and BoE rate decisions. Dollar is staying as the weakest for the week one after yesterday’s selloff, followed by Yen. Aussie and Euro are the strongest ones. There is upside prospect for Euro even if ECB delivers just a slight hawkish tilt.