LONDON/DUBAI/MOSCOW: OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact. The standoff could delay plans to pump more oil through to the end of the year to cool oil prices
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Dollar’s rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for
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The Bureau of Indian Standards (BIS) website and FAQs do not capture many key points on hallmarking, discussed between the gems and jewellery industry and the government, causing confusion and disruption amongst jewellers, All India Gem and Jewellery Domestic Council (GJC) said on Saturday. In this regard, the industry body has written to Union Minister
Dollar ended as the strongest one last week but Friday’s steel fall after solid non-farm payroll job reports suggests that it’s rally is already losing steam. It’s still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar’s upside attempts ahead, and even trigger a deeper pull
Forex news for North American trading on July 2, 2020 In other markets as the week comes to a close shows: Spot gold is trading up $10.69 or +0.6% at $1787.29. Spot silver is up $0.44 or 1.69% $26.45 WTI crude oil futures are trading down nine cents or -0.11% at $75.15 Bitcoin is trading down $293
Gold rose on Friday, climbing further up from a two-month trough hit during the week, as the dollar weakened and investors weighed prospects for U.S. Federal Reserve tightening after a strong U.S. jobs report that nevertheless showed a slight uptick in the unemployment rate. Spot gold rose 0.3% to $1,781.77 per ounce by 12:48 pm
Dollar’s rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it’s certain that Fed won’t move unless upbeat outlook is realized in economic data. Successive solid job growth for a few months is needed to give
200 hour MA swing area and 50% of the move up from June 23 The USDCAD is trading to a new session low and in the process is testing a cluster of support defined by the 200 hour moving average, the 50% retracement of the move up from the June 23 low, and a swing area between
NEW DELHI: Gold in the national capital on Friday gained Rs 251 to Rs 46,615 per 10 gram in line with firm global trends and rupee depreciation, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 46,364 per 10 gram. Silver, however, fell Rs 256 to Rs 68,458 per
Dollar struggles to ride on stronger than expected non-farm payroll growth, and it’s indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as the strongest one for the week,
Forex news for Asia trading on Friday 2 July 2021 USD/JPY popped to its highest, circa 111.65, since March of last year but overall maintianed a very tight range on the session. As I update USD/CHF is ticking a little higher also as ‘safe haven’ FX becomes less and less sought after. Elsewhere it was
NEW YORK: Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in more than four years. Large oil companies are unloading properties from Texas to California, with some using the market rally as a chance
After delaying the meeting to discuss output quota for a day, the OPEC+ still fails to reach a deal regarding production increase for the coming months. News headlines suggest that the increase could eventually be below market expectations. Crude oil prices jumped with the front-month WTI contract rose to near 3-year high of US$76.22/ bbl
ISM manufacturing PMI for June 2021 Prior 61.2 Prices paid 92.1 versus 88.0 last month New orders 66.0 versus 67.0 last month Employment falls below the 50 level at 49.9. Last month the index came in at 50.9 Production 60.8 versus 58.8 last month. Supplier deliveries 75.1 versus 78.8 last month inventories 51.1 versus 50.8 last
NEW DELHI: Gold in the national capital on Thursday rallied Rs 526 to Rs 46,310 per 10 gram in line with a strong recovery in global precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,784 per 10 grams. Silver also gained Rs
Dollar surges sharply against Yen today and maintains gain after better than expected job data. Though, the greenback is retreating mildly against other major currencies, as traders are probably lightening up their positions first ahead of tomorrow’s non-farm payrolls. Comments from ECB and BoE officials gave Euro and Sterling some support. But they’re not enough
Forex news for Asia trading on Thursday 1 July 2021 Data flow ramped up on the first day of the new month with: a round of PMIs across Asia with Australia, China, Japan, South Korea manufacturing PMIs all registering expansion, The Bank of Japan quarterly Tankan survey report showed much improved sentiment amongst Japanese business,