European gas price has kept breaking new records over the past months. Both higher-than-usual demand and supply shortage have led to the price strength. As winter is approaching, we expect price to remain at elevated levels in the months to come. The front-month Dutch TTF gas contract has remained firm after breaking above EUR 70/MWh.
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It’s shocking how quickly this has spiraled out of control At the moment, it’s tough to even keep on top of all the energy problems in the world. This is a crisis that I saw building but I’m continually surprised at how hard it’s hitting. Back on September 13 — just two weeks ago —
NEW DELHI: If you thought equities are a breakout story this year, then you may have missed the real money-making opportunity. There is one commodity that has come out of stupor and shocked everyone with the ferocity of its rally. That counter is natural gas. Natural gas spot prices have more than doubled since early
Canadian Dollar leads commodity currencies higher in Asian session, with help from extended rally in oil price. Overall sentiment is mixed though and Yen is trying to pare back some of last week’s losses. Some weakness in seen in both European majors and Dollar but movements in respective pairs are limited. Euro is also stuck
The next problem for China’s economy after Evergrande The power crunch in China is going to have a severe impact on the economy towards the end of Q3 and as we approach Q4, as surging coal and gas prices alongside strict emissions targets from Beijing are resulting in a power supply shock. The Global Times
NEW DELHI: Gold and silver futures rose on Monday as persistent concerns over the fate of debt-laden property giant China Evergrande and its broader impact bolstered the precious metal’s safe-haven appeal. Evergrande missed a payment on offshore bonds last week, with further payment due this week. This sent shivers down the spine of equity investors
The Fed turned more hawkish in September, with the first rate hike pushed forward to 2022. Fed Chair Jerome Powell indicated that QE tapering will come “soon”. The staff downgraded the GDP growth forecast for this year, but revised higher that for 2022 and 2023. Inflation projections were revised higher all the way through to
Brent threatens to take out the June high The high in Brent today is $77.83, which is just one cent shy of the $77.84 high in June. It’s an interesting contrast to WTI, which is $3.30 away from the June high. Talk of gas-to-oil switching in power plants is helping brent to widen the spread
On Sunday, the diesel price was raised by 25 paise per litre, marking the second hike in rates after state-owned oil corporations abandoned a three-week rate freeze after worldwide oil prices surged to their highest level since 2018. According to a price statement from state-owned fuel dealers, the price of diesel has been raised to
What are the major economic releases and events for next week Sunday, September 26: German federal elections Monday, September 27: ECB Lagarde speak. 7:45 AM FOMC member Evans speaks, 8 AM ET US durable goods orders, 8:30 AM ET. Estimate 0.7% versus -0.1% last month FOMC Williams speaks, 12 PM ET FOMC Brainard speaks, 12:15 PM ET BOE Gov. Bailey speaks, 2 PM ET Tuesday,
NEW DELHI: The US Federal Reserve’s announcement to start tapering its bond purchase programme “soon” and the probability of earlier-than-expected rate hike have come as a big blow to bullion investors. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
House majority leaders says the vote will take place Moderate Democrats met with House Dem leaders in Pelosi’s office for an hour and 15 minutes, and afterward they were was high expectation the vote on the Senate’s infrastructure bill would still occur on Monday. “I’m bringing the bill to the floor on Monday,” Hoyer told
Sept 24: Gold prices edged higher on Friday after falling more than 1% in the previous session, helped by a subdued , although Federal Reserve‘s plans on reducing stimulus to the U.S. economy kept the bullion on track for a third straight week of declines. FUNDAMENTALS * Spot gold rose 0.2% to $1,746.84 per ounce
Yen’s fortune reversed last week as US treasury yields accelerate up after hawkish FOMC meeting and projections. US stocks also display strong resilience and closed generally higher, reversing prior losses. Sterling, on the other hand, shrugged off hawkish BoE voting and ended as second weakest. Aussie and Kiwi were not too far away with concerns
Forex news for North American trading on September 24, 2021 The CAD and the USD is ending the day as the strongest of the major currencies as the flow of funds into the CAD were by higher oil prices, and the US dollar continues to be supported by higher yields and perhaps a little flight to
NEW DELHI: Gold and silver futures continued to be under pressure on Friday following the Fed announcement of tapering. Gold is often considered a hedge against higher inflation, but a Fed rate hike would increase the opportunity cost of holding gold, which pays no interest. Fed Chairman Jerome Powell said the tapering process could conclude