MELBOURNE: prices dipped on Friday, putting the market on track to end the week roughly unchanged, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand, while a weaker dollar supported commodity markets broadly. U.S. West Texas Intermediate (WTI) crude futures fell 17 cents, or 0.2%, to $72.21 a
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Investors are back in risk-off mode after a week of volatility. Yen is rising broadly, followed by Swiss Franc and Dollar. On the other hand, commodity currencies are back under some pressure. Euro and Sterling are both mixed. The question is whether pre-weekend selloff in stocks would intensify and push Yen and Franc to end
NEW DELHI: Gold prices climbed on Friday as the dollar weakened after the US Federal Reserve decided to withdraw its pandemic-era stimulus in response to fight broadening inflationary risks. The yellow metal is poised for its best weekly performance since mid-November. The US Fed said it would pave the way for three quarter-percentage-point interest rate
The ECB meeting came largely in line with expectations. While leaving the policy rates unchanged, the members confirmed that the PEPP program would end in March 2022. Meanwhile, they have extended the reinvestment process and topped up the APP program, as means to continuously provide liquidity to the market. The staff economic projections saw sharp
New Delhi: Capital markets regulator Sebi on Thursday came out with a framework pertaining to cut-off time for generation of last risk parameter file used for collecting margins from commodities traders. Also, the regulator modified the framework prescribed for enabling verification of upfront collection of margins from clients in commodity derivatives segment. The new framework
Sterling rises broadly after BoE surprised the markets by raising interest rates and maintains a hawkish tone. Solid risk-on sentiment as well as strong job data boosts Aussie as the second strongest. Euro is not performing badly after ECB announces to end PEPP net purchases in March. Indeed, the common currency is trying to catch
London copper prices jumped more than 2% on Thursday, boosted by improved risk sentiment after the U.S. Federal Reserve struck an upbeat tone on economic recovery, while a halt to production at a major mine in Peru exacerbated supply concerns. Three-month copper on the London Metal Exchange was up 2% at $9,385 a tonne, as
FOMC delivered a hawkish outlook at the December meeting. Besides doubling the size of tapering as we had anticipated, more than two-third of the members have projected at least 3 rate hikes next year. The latest economic projections suggest that inflation could rise to +5.3% this year before easing. Both headline and core CPI are
SPDR Gold Shares has seen net outflows of about $10.4 billion so far this year, the most since 2013, and equivalent to about 190 tons of bullion, according to the marketing agent for the fund. It’s come alongside declining gold prices as central banks start to pare back pandemic-era stimulus, though the emergence of the
Dollar is trading mixed in early US session after weaker than expected retail sales data. The greenback is extending recent rally against Canadian, but pulls back against Australian. European majors are mixed while Yen is also trading a touch weaker. Other markets are quite too with Gold’s selloff taking a breather at around 1770. Traders
KUALA LUMPUR: Malaysian palm oil futures plunged as much as 6% on Wednesday to hit their lowest in two-and-a-half months, dragged down by cargo surveyor data showing lower exports for the first half of this month, and tracking weakness in rival soyoil. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives
The focus of this week’s ECB meeting is whether the PEPP would extend beyond March 2020 in light of the new Omicron variant and rapid increase the number of coronavirus cases across Europe since the November meeting. Recent comments from ECB officials signal that things would go as planned. The latest economic projections would also
New Delhi: Gold in the national capital on Tuesday dipped Rs 68 to Rs 47,280 per 10 gram in line with weak international precious metal prices, according to HDFC Securities. In the previous trade, th precious metal settled at Rs 47,348 per 10 gram. Silver, however, gained Rs 114 to Rs 60,221 per kg from
Commodity currencies remain generally weak today on mixed market sentiment. But buying is turned to European majors, with Swiss Franc having an upper hand. Dollar and Yen, on the other hand, soften mildly. The greenback has little reaction to record PPI reading. Meanwhile, it should be noted that major forex pairs are staying inside last
The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency said on Tuesday. The oil market “appears to stand on a better footing than it has for some time,” the IEA wrote in its latest monthly report. The emergence
The markets are rather quiet in Asian session. Stock indexes are trading higher but no follow through buying is seen. In the forex markets, major pairs and crosses are stuck inside Friday’s range, with commodity currencies a touch firmer. Activity could remain subdued with an empty calendar for today. Yet, volatility is guaranteed with five
Mumbai: The largest commodity exchange on Monday launched trading on nickel options, making it the third base metal derivatives on its platform. The exchange already offers base metal options on futures in copper and zinc and option contracts in gold, silver and crude. The exchange said nickel options contract will be based on 1,500 kg
Dollar and Sterling firm up mildly in overall quiet markets today. Commodity currencies are, on the other hand, trading lower. Investors are turning cautious ahead of the wave of central bank meetings later this week, in particular on Fed’s decision to faster the tapering pace. Oil prices also dip mildly even though OPEC upgraded demand