LONDON: Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures were up 80 cents, or 0.95%, to $84.80 a barrel at 0930 GMT. Front-month
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Sterling steals the show today breaking through key resistance levels the Japanese Yen, and a near term low against Euro too. Dollar is trying to strengthen against Euro and Swiss Franc on strong retail sales, but momentum is sluggish elsewhere. There is no change in the selloff in Yen, just some more accelerations. Aussie and
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London copper prices on Friday were on track for their biggest weekly gain in nearly five years on supply concerns and as sentiment was supported by the metal surpassing a key psychological level. Three-month copper on the London Metal Exchange rose 0.4% to $10,025 a tonne by 0633 GMT. It was up 7.1% on a
Yen’s decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC minutes affirmed tapering to start in November. Euro is not far away too while Sterling
A snippet from a report via the Peterson Institute for International Economics (PIIE) Supply disruptions, pent up demand, and higher household savings have pushed 12-month core personal consumption expenditure (PCE) inflation (excluding food and energy) to … its highest rate since the early 1990s. Analysts at the firm say inflation and wage growth data do
New Delhi: Gold prices rallied by Rs 455 to Rs 46,987 per 10 gram in the national capital on Thursday following firm trends in global markets, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,532 per 10 gram. Silver also jumped Rs 894 to Rs 61,926 per kg
Commodity currencies rise broadly today on the back on risk-on sentiments. Major European indexes are trading up while US futures also point to higher open. Yen is extending recent broad based decline since though treasury yields are in retreat. Dollar and Euro are following as next weakest. Sterling and Swiss Franc are mixed, helped by
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NEW DELHI: Gold prices eased in the domestic market on Thursday, bucking the demand in global markets. Gold prices hovered near a one-month peak. The dollar and longer-dated Treasury yields retreated from recent highs following a hotter-than-expected US inflation data, which supported the bullion. Gold futures on MCX were trading down 0.22 per cent, or
At the FOMC minutes for the September meeting, the members sent more hints about QE tapering. It is highly likely a formal announcement will be made in November, barring abrupt deterioration of pandemic condition and power shortage problems. On economic developments, the Fed acknowledged that “economic activity had continued to expand in recent months, though
Forex new for North American trading on October 13, 2021 The US CPI data came out for the month of September and continued to show increased inflation pressures. The headline number came in touch stronger than expected 5.4%. The core measure came in as expected 4.0%. Both are well above the 2% target in addition the wage component showed
India’s coal shortage crisis reflects the precipitous decline in coal inventory at power generation plants, with inventory declining to 3-4 days, compared with the 21-day norm. Concerns have permeated across the country, worrying industrial as well as agri-dominated states, which are flagging risks of severe power cuts. This comes after reports that over half of
Dollar firms up mildly in early US session as headline CPI was back at multi-decade high, which core CPI remains stubbornly strong. The gain in the greenback is so far limited. Overall markets continue to trade in consolidative mode, with mild weakness seen in commodity currencies while Swiss Franc and Euro are rebounding. Next focus
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NEW DELHI: Gold prices held steady on Wednesday. The yellow metal traded flat, helped by a slight pullback in dollar. Investors awaited US inflation data to gauge the Federal Reserve’s path on normalizing policy. The yellow metal was little changed on softer dollar and lower US bond yields. The dollar index was down in early
OPEC+ produced less than promised despite global energy shortage. The alliance comprised of 10 OPEC members, 9 non-OPEC producers and 3 OPEC members exempted from quotas produced a total of 40.73M bpd in September, compared with 40.26M bpd a month ago. Output from OPEC-10 and non-OPEC aggregated to 36.57M bpd, missing the quota of 36.74M
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do