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Oil prices edged higher on Thursday as crude stocks fell after U.S. refineries ramped up processing and as gasoline inventories eased, signalling stronger demand. Brent futures rose 35 cents, or 0.4% to $85.43 a barrel. U.S. West Texas Intermediate (WTI) crude rose 36 cents, or 0.5%, to $82.47 a barrel. U.S. crude inventories fell by

New Zealand Dollar plunged sharply after RBNZ’s more dovish than expected statement caught the market off guard. RBNZ’s indication of potential future rate cuts was unexpected, even though it’s not a hint on an imminent move. The central bank’s timing of this shift in tone is puzzling, as Q2 CPI data will only be available

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 your initial investment; do not

Oil prices steadied on Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) kept its growth forecast for oil demand unchanged for this year and next, while U.S. crude and gasoline inventories likely fell last week. Brent futures were down 11 cents, or 0.1%, at $84.55 a barrel at 1212 GMT, after falling 1.3%

Yen continues its extended selloff today, except against New Zealand Dollar, in an otherwise subdued forex market. Reports indicate that BoJ may lower its economic growth forecasts for this year at its meeting later in July, while predicting that inflation will hover around 2% target in the coming years. These updated forecasts could keep the

Still solid rises for inflation at the wholesale level. USD/JPY is little changed around 161.36 — The Producer Price Index (PPI) in Japan is also known as the Corporate Goods Price Index (CGPI) its a measure of the average change over time in the selling prices received by domestic producers for their output is calculated

Oil prices rebounded on Wednesday following three days of declines after an industry report showed U.S. crude and fuel stockpiles fell last week, indicating steady demand, and the outlook for interest rate cuts improved. Brent futures rose 21 cents to $84.87 a barrel by 0055 GMT, after falling 1.3% in the previous session. U.S. West

Dollar is recovering mildly overnight, as traders prepare for Fed Chair Jerome Powell’s highly anticipated two-day Congressional testimony. Powell is scheduled to address the Senate today and the House tomorrow. Fed’s latest dot plot suggests median expectation of just one rate cut this year. However, recent soft economic data from June, including non-farm payroll numbers,

Fed’s Powell said decisions are made meeting by meeting. He sees solid increases in consumer spending, moderate growth in capital spending, and a pickup in residential investment. He characterizes the labor market as strong but not overheated. He says that more good data would strengthen their confidence. He also said that elevated inflation is not

Gold August futures contracts at MCX opened at Rs 72,533 per 10 gram on Tuesday, showing a Rs 500 fall so far this week, while MCX silver September futures contracts traded flat, opening at Rs 93,133/kg, down by Rs 160 in the week. Gold and silver witnessed profit taking on Monday ahead of the Fed

As US session kicks off, Dollar is trading mildly higher, with traders eagerly anticipating Fed Chair Jerome Powell’s two-day semiannual testimony before Congress. The key questions looming over the markets are whether the Fed will initiate interest rate cuts in September and if there will be a total of one or two cuts this year.

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 your initial investment; do not

Gold prices fell more than 1% on Monday, hurt by a risk-on rally in equities and profit-taking by investors after a sharp rally in the previous session over expectations that the U.S. Federal Reserve could cut interest rates in September. Spot gold was down 1.5% to $2,354.59 per ounce as of 12:01 p.m. ET (1601

Euro dips mildly a in Asian session after French parliamentary elections on Sunday delivered unexpected results. The markets had anticipated a challenging outcome for centrist President Emmanuel Macron, including a hung parliament. Yet, the outcome was particularly surprising for Marine Le Pen’s National Rally. Despite being a frontrunner, her party only secured the third spot.

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 your initial investment; do not

Post a downbeat U.S. job data, prices of gold and silver steadied. Gold August futures contracts and silver September futures contracts on Monday opened flat at Rs 72,966 per 10 grams and Rs 93,380/kg respectively. Gold August future contracts at MCX opened flat today at Rs 70,977 per 10 gram, which is down by merely

Sterling strengthened broadly today, support by comments from Jonathan Haskel, a known hawk on BoE’s MPC. Haskel indicated his preference to maintain interest rates until there is clear evidence that inflationary pressures have subsided sustainably. This stance has introduced some uncertainty regarding the widely anticipated BoE rate cut in August. While many economists still expect

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 your initial investment; do not