The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark
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Tobias Levkovich was well known for setting S&P 500 price targets Citigroup reported that chief equity strategist Tobias Levkovich died on Friday, a month after being hit by a car while crossing a street in Long Island, NY. Levkovich was perhaps the world’s most well-known equity strategist and had been in his role at Citi
Gold prices eased on Friday after rallying to a one-week high above the key $1,750 level in the previous session, as the rebounded and made the metal expensive for holders of other currencies. FUNDAMENTALS * Spot gold fell 0.1% to $1,754.64 per ounce by 0139 GMT, after rising nearly 1.8% on Thursday as the dollar
The RBA will maintain all monetary policy measures unchanged at next week’s meeting. That is, the cash rate, as well as the yield target on the April 2024 bond, will stay at 0.1%. Asset purchases will also be kept at a pace of AUD 4B/week. Policymakers will continue to warn of the slowdown in the
China has not lived up to pledge to purchase additional $200B in goods US Trade Representative Katherine Tai will announce Monday that China is not complying with the so-called phase one trade deal, sources familiar with the matter told CNBC. The report said Tai will outline how China has fallen short on a pledge to
NEW DELHI: Gold prices were trading with a marginal decline on Friday after a decent rebound in the previous session. Firm US dollar made the yellow metal expensive for holders of other currencies. The dollar recouped most of those losses on Friday and began the final quarter of 2021 at close to its highest level
Dollar had been the strongest for most of the week but lost it first place at the time, as treasury yields retreated. Instead, resilient risk appetite in the US, as well as firm oil price helped Canadian and Australian Dollars stole the first and second place. On the other hand, Euro ended as the worst
Forex news for North American trading on October 1, 2021 The US core PCE data for the month of August remain steady at 3.6%. That was the expected rate as well. Although inflation remains well above the 2% level, the expectations are that some of the gains are transitory and will come down over time.
Nickel prices slipped about 6 per cent on the LME, whereas prices on the ended lower by 1.2 per cent. Nickel prices rose earlier in the month, on booming demand from the stainless steel segment following the resumption in global economic activities and expansion of the EV sector. Along with increased stainless-steel production, depleting inventories
Dollar continues to pare gains in early US session as the week is coming to a close. PCE inflation data is largely ignored by the markets, while Euro also shrugs CPI. Canadian Dollar also ignores smaller than expected GDP contraction. Sterling is leading the way in the rebound, followed by Aussie. As for the week,
RBA and RBNZ to announce rate decisions It is busy week next week with rate announcements from the Reserve Bank of Australia and also the Reserve Bank of New Zealand. It is also employment week for both Canada and the US. China is on holiday Monday to Thursday. Australia will be off on Monday. Monday, October 4 OPEC+ meeting
New Delhi: Gold in the national capital on Friday rallied Rs 555 to Rs 45,472 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 44,917 per 10 grams. Silver also jumped Rs 975 to Rs 58,400 per kilogram from Rs 57,425 per kilogram
Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall directions in the currency markets will
Major indices down over 1% in Europe at the open Eurostoxx -1.1% Germany DAX -1.4% France CAC 40 -1.5% UK FTSE -1.2% Spain IBEX -1.6% The declines here are exacerbated by the fact that European indices closed modestly lower yesterday, just before the sharp fall in US stocks came about late on.Invest in yourself. See
MELBOURNE: prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil. U.S. West Texas Intermediate (WTI) crude futures slipped 5 cents to $74.98 a barrel at 0153 GMT,
The RBNZ is almost certain to raise the OCR by +25 bps to 0.5% next week. The Funding-For-Lending program (FLP) will stay unchanged at NZ$28B. This should not be affected by the slowdown in economic activities in the third quarter. While cautioning about the uncertainty of the pandemic and economic damage brought about by the
According to four OPEC+ sources According to 4 OPEC+ sources: OPEC+ is considering options for releasing more oil to the market at next week’s meeting The price of crude oil has come off on the news and currently trades at $75.04. The high price reached $76.04. The current deal is to increase production by 400K BPD one