Initial jobless claims and continuing claims for the current week Prior week Initial jobless claims 412K versus 360K estimate. The prior week was revised marginally lower to 375K from 376K 4-week moving average of initial jobless claims 395K versus 403K last week. This is the lowest since March 14, 2020 Continuing claims 3518K versus 3425K estimate. The prior
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NEW DELHI: Copper futures on Thursday slipped 1.09 per cent to Rs 714.20 per kg, as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the June delivery eased by Rs 7.90, or 1.09 per cent, to Rs 714.20 per kg in a business turnover
Dollar surges overnight after much hawkish than expected Fed interest rate projections. The case of near term bullish reversal continues to build up and there is prospect of further rally before weekend. Markets are relatively mixed elsewhere though. Australian Dollar is lifted by strong job data while New Zealand Dollar is supported by strong GDP.
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LONDON: Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favour of renewables, US-based Castleton Commodities International said. “You could see spikes to even higher than $100 a barrel, even $130, and you could also see it
Dollar softens quite notably in early US session as markets await FOMC rate decision. Though, Swiss Franc and Euro appear to be slightly weaker. On the other hand, Kiwi and Aussie are strengthening mildly but Canadian Dollar shrugs off stronger than expected consumer inflation data. Sterling also firms up mildly earlier today, but lacks follow
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Domestic gold rates moved higher on Wednesday as equities retreated from record levels ahead of the release of the US central bank’s policy statement following a two-day meeting. Market participants keenly watched out for any signs of early tapering of stimulus in the world’s largest economy. MCX gold futures rose by Rs 140 to Rs
China’s major economic data missed expectations in May. Industrial production (IP) expanded +8.8% y/y in May, worse than consensus of +9.2% and April’s +9.8%. Retail sales growth decelerated to +12.4% y/y, from +17.7% in April. The market had anticipated a +14% growth. Fixed asset investment (FAI) gained +15.4% y/y in the first 5 months of
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LONDON: Oil prices reached their highest in more than two years on Tuesday, buoyed by expectations demand will recover rapidly in the second half of 2021. Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel by 1311 GMT, the highest since late April 2019. US oil gained 88 cents, or 1.2%, to $71.76
Dollar jumps in early US session after strong, record making, PPI inflation data. The worse than expected retail sales and manufacturing data were shrugged off. Yen and Euro are following as next strongest for now. Sterling continues to be weighed down by delay in reopening and it’s trading and worst ones a long with commodity
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NEW DELHI: Crude oil prices rose Rs 17 to Rs 5,208 per barrel on Tuesday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 17, or 0.33 per cent, at Rs 5,208 per barrel in 8,635 lots. Analysts said
Yen trades broadly overnight on strong risk appetite, with NASDAQ and S&P 500 closing at new record highs. And it remains generally soft in Asian session. Some selling in seen in Australian Dollar after RBA minutes, but loss is very limited. Other commodity currencies are indeed trying to firm up, which helps floor the Aussie.
BNZ have a proprietary fair value model for the New Zealand dollar: Our short-term fair value model estimate for the NZD has pushed up to 0.7420, the highest level since 2014 Analysts at the bank outline 4 points that ought to be NZD positive, in summary: Our risk appetite index rose to 72% on Friday,
NEW YORK: Oil prices rose on Monday, hitting their highest levels in more than two years, supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent rose 34 cents to $73.03 a barrel by 12:56 p.m. EDT (1656 GMT). Earlier in the session, it reached $73.64
We do not expect the Fed talk about tapering at this week’s meeting. Policymakers would likely hint more about it at the Jackson Hole symposium in August while a formal announcement would be made at the September FOMC meeting. Rather, we are more interested in its view on the rapid increase in both headline and