While US stocks staged a strong rebound overnight, the moves didn’t follow through in mixed Asia. There is also little reaction in the currency markets. Yen and Dollar remain the strongest ones for the week, despite retreating mildly. New Zealand Dollar is the worst performer, followed by Aussie and then Sterling. Euro is not performing
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New Delhi: Gold in the national capital on Tuesday gained Rs 253 to Rs 47,100 per 10 gram amid supportive global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,847 per 10 grams. Silver slipped Rs 61 to Rs 65,730 per kilogram from Rs 65,791 per kilogram
Overall sentiments in the financial markets remain rather fragile today, despite some stabilization. Major European indexes are trading slight up while DOW futures also gains over 150 pts at the time of writing. But there appears to be little support for treasury yield, with Germany 10-year yield below -0.4 handle at -0.42. US 10-year yield
Light bounces in US futures, Treasury yields After the sizable moves yesterday, the shallow bounces so far today is one that can be expected. Hence, this may just be a bit of a breather more than anything else. US 10-year yields are holding back above 1.20% in a slight bounce today but it doesn’t absolve
NEW DELHI: Gold moved higher on Tuesday, recovering from the scars of previous session, as rising Delta virus threat spooked investors. Both precious metals posted decent gains on . Gold futures on MCX were up 0.38 per cent or Rs 184 at Rs 48,278 per 10 grams. Silver futures gained 0.29 per cent or Rs
Overall market sentiments stabilized in Asia, after the massive risk-off trades in the US overnight. While Asia indexes are still down, losses are limited. Yen and Swiss franc are paring some gains but remain the overwhelmingly strongest ones. Commodity currencies are the weakest as led by Canadian Dollar. Dollar and Euro are mixed for now,
WTI settles down $5.39 to $66.42 I read a great note today from RBC arguing that the physical market is tight inventories continuing to draw down to some of the lowest levels in 6 years. On top of that, China and Indian are refining more than they’re importing so they’ll be back as buyers soon.
New Delhi: Gold in the national capital on Monday dipped Rs 126 to Rs 46,967 per 10 gram in line with a fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,093 per 10 grams. Silver also went lower by Rs 97 to
Yen and Swiss Franc dominates the markets for the day, as selloff in stocks spread from Asia to Europe, to US. Risk aversion intensified with DOW down over -800 pts in initial trading, while 10-year yield breaks1.2 handle. Canadian Dollar is the worst performing one, as WTI crude oil breaks below 70 handle. However, Australian
US futures down, Treasury yields lower The market is taking a bit more of a cautious step as we look to get things going in Europe today, as Asian equities retreat alongside US futures while Treasury yields are marked lower (though off the early morning lows at least). S&P 500 futures are down 0.3%, Nasdaq
By Ravindra Rao Gold futures have gone back and forth during the course of the week following mixed economic numbers. Gold August futures witnessed a pause in its rally after retracing 61.8% of the previous downtrend near Rs 48,450. So, the price has to move above the 61.8% Fibonacci level to push towards the next
Yen rises broadly as the markets start the week with risk aversion in Asia. On the other hand, Canadian Dollar is trading as the weakest, leading other commodity currencies lower. European majors are mixed together with Dollar for the moment. The economic calendar is rather light today and focuses will stay on development in the
New baselines will take effect in April but hikes will be limited to 400k bpd After a quickly-called ministerial meeting yesterday and a short meeting, OPEC+ agreed to a plan to increase production in 400k bpd increments through year-end. The previous meeting grew contentious when the UAE demanded a higher baseline quota starting in May.
MOSCOW/DUBAI/LONDON: OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 to overcome differences between Saudi Arabia
Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industries at home. “If you’d asked me six months ago
Oil production output levels are on the agenda for this weekend meeting following last week’s agreement between Saudi Arabia and the United Arab Emirates: The previous OPEC+ meeting finished, after being extended for 3 days to try to reach a resolution, without an agreement. The differences boiled down to the United Arab Emirates seeking an increase in
Fuel consumers may get some respite from rising prices of petrol and diesel as global oil scenario is expected to soften down in the coming days with oil cartel OPEC reaching an agreement to raise production to meet the growing demand. The increase in Covid cases globally have made the oil market uncertain as it