SINGAPORE: prices eased for a second session on Friday on growing concerns that Washington may soon act to cool prices, while movement controls in China to rein in a COVID-19 outbreak weighed on fuel demand. Brent crude futures fell 30 cents, or 0.4%, to $84.17 a barrel at 0150 GMT. U.S. West Texas Intermediate crude
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Dollar remains overwhelmingly the worst performer today, as selloff extends. There is little support from hawkish Fedspeaks, with some officials expressing openness to four rate hikes this year. Commodity currencies continue to be the biggest winners, as supported by resilient risk sentiment. In particular, US futures are pointing to higher open, and further rally could
One comment stood out from Philly Fed President Harker in his latest round of comments. He said he favors shrinking the Fed’s balance sheet late this year or early next. The hawks have been talking about an aggressive balance sheet rundown but there’s a pushback now, including Powell who indicated he would be patient. Since
Gold price in the national capital on Thursday jumped Rs 119 to Rs 46,919 per 10 grams, reflecting a rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,800 per 10 gram. Silver also moved up by Rs 745 to Rs 60,777 per kg
Dollar’s post CPI selloff continues today and remains generally weak. For now, Swiss Franc is the second worst performer for the week, followed by Euro. Commodity currencies are the strongest, with Aussie overtaking Canadian. Sterling is mixed for now. Other markets are mixed for now, with Asian stocks lacking a clear direction. Global benchmark yields
Asia followed up an active FX session in the US where the US dollar declined across the majors’ board with a session of low volatility and small ranges. On the central bank front we had Federal Reserve Bank of San Francisco President Mary Daly speaking on a public TV interview. Daly said a rate hike
MELBOURNE: prices slipped on Thursday, trimming big gains from the previous two sessions, amid uncertainty over near-term demand as cases of the highly contagious Omicron variant of the coronavirus surge around the globe. U.S. West Texas Intermediate (WTI) crude futures slipped 7 cents, or 0.1%, to $82.57 a barrel at 0221 GMT, after climbing 1.7%
Dollar tumbles broadly in early US session even though consumer inflation data hit multi-decade highs. The move could be seen as a result of clearing the risk of even worse inflation reading that could force Fed’s hand. For now, Canadian Dollar is the strongest one as boosted by rally in oil prices. Sterling and Aussie
Another lockdown was imposed in China earlier today as covid cases there continue to spread. Huaxian residents were ordered to stay indoors with all businesses told to suspend operations. That goes along lockdowns in Anyang, Yuzhou and Xian that already cover more than 20 million people. Outbreaks in Shenzhen, Hong Kong and Tianjin — with
New Delhi: Gold in the national capital on Wednesday jumped Rs 228 to Rs 46,812 per 10 grams, reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,584 per 10 grams. “Spot gold prices for 24 carat in Delhi rose by Rs
Overall, Fed Chair Jerome Powell’s renomination hearings seemed to be well received by the markets. US stocks closed broadly higher overnight, followed by rallies in Asian indexes. Yen and Dollar are both under some selling pressure today. On the other hand, commodity currencies are trading higher. In particular, Canadian Dollar is lifted by the rise
It was a steady sideways day for most of major FX with small ranges and not a lot of net change. GBP, EUR, NZD, CAD are all a few tics up against the US dollar while USD/CHF and USD/JPY are more or less unchanged. The focus was once again on China today, both news and
Gold prices were flat on Wednesday, as traders focused on U.S. inflation data for rate clues after less hawkish comments from the Federal Reserve chief fuelled a bullion rally last session. FUNDAMENTALS * Spot gold was little changed at $1,819.51 per ounce by 0135 GMT. U.S. gold futures were up 0.1% at $1,819.80. * Fed
Overall mood in the market is positive today, major European indexes and US futures trading up. The question is whether US stocks, in particular NASDAQ, could build on yesterday’s strong rebound for some more gains. Benchmark treasury yields are firm globally. Gold and Silver also recover. In the currency markets, most major pairs and crosses
58 new covid cases were reported today in Anyang and the city of 5 million is now in total lockdown, with residents only permitted to leave home to get a test. The outbreak there was detected on the weekend and has been traced to a university student who traveled 600 km to the city from
Gold price in the national capital on Tuesday jumped Rs 104 to Rs 46,606 per 10 grams, in line with a rally on international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,502 per 10 grams. Silver also gained Rs 408 to Rs 59,700 per kg
Overall market sentiment is rather mixed for the moment. Despite the initial steep selloff overnight, major US indexes staged an impressive come back towards the end of the session. NASDAQ even eked out a slight gain. Gold is back above 1800 handle while Bitcoin appears to be supports by 40k for now. Investors are probably
APAC major FX traded in limited ranges awaiting testimony from Federal Reserve System Chair Powell on Tuesday (11 January 2022 US time (see bullets above)). EUR, GBP, AUD, NZD, CAD are all slghtly firmer against the USD while USD/JPY has managed a 20 or so point gain. Yen crosses are thus higher on the session.