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
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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
KUALA LUMPUR: Malaysian palm oil futures reversed early losses on Monday, as crude strengthened and analysts estimated tightening December production and stockpile, although weaker rival oils weighed on prices. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange gained 28 ringgit, or 0.58%, to 4,828 ringgit ($1,147.07) a tonne by
The Fed this week will announce acceleration of QE tapering. With inflation approaching 7%, policymakers would likely revise its view on inflation outlook and “retire” the word “transitory”. The updated economic projections and median dot plots showing members’ interest rate projections would also be released. The Fed funds rate will stay a 0-0.25% until mid-2022.
Gold prices were flat on Thursday, as the U.S. and Treasury yields firmed ahead of key inflation data that could provide clues on the Federal Reserve‘s next policy move. FUNDAMENTALS * Spot gold was flat at $1,782.65 per ounce, as of 0236 GMT. U.S. gold futures fell 0.1% to $1,784.50. * Benchmark 10-year Treasury yields
India’s top oil and gas producer is seeking a minimum price of USD 3.5-4 for the natural gas it plans to produce from coal seams in Jharkhand and a field in Tripura. Oil and Natural Gas Corporation (ONGC) has issued separate tenders seeking buyers of 0.02 million standard cubic meters per day of coal-bed methane
Gold prices edged higher on Friday but were headed for a fourth straight weekly fall as investors kept to the sidelines ahead of key U.S. inflation data that could influence the Federal Reserve‘s next policy move. FUNDAMENTALS * Spot gold rose 0.1% to $1,776.23 per ounce by 0057 GMT. U.S. gold futures gained 0.1% to
Investors seemed to have already put Omicron risks behind last week, with markets turned back into risk-on mode. But the forex markets were indeed quite mixed. Commodity currencies were the strongest ones, but the rebounds are looking more like corrective. Yen was the worst performer, but the pull-backs were very shallow Dollar remain stuck in
Iron ore futures slipped on Friday, as rising portside inventory of the steelmaking ingredient in top steel producer China, along with weak demand, signalled prices could further weaken in 2022. Iron ore for May delivery on China’s Dalian Commodity Exchange ended daytime trade 0.7 per cent lower at 639.50 yuan ($100.46) a tonne. The benchmark
The multi-decade high in US CPI reading appears to be failing trigger any move in Dollar. The greenback is staying in very tight range in general. Commodity currencies are indeed trying to regain upside momentum. Yen is set to end as the worst performing, followed by Swiss Franc and then Euro. In Europe, at the
New Delhi: Gold prices in the national capital on Friday gained Rs 61 to Rs 47,013 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,952 per 10 gram. Silver, however, declined by Rs 615 to Rs 59,273 per kilogram from Rs 59,888