WTI up 1% on the day Oil has climbed above the May highs and yesterday closed at the highest since 2018. The March high of $67.98 is now in range. The was a report yesterday that OPEC+ would stick to the script through July at Tuesday’s meeting but there’s a big question mark about what
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NEW DELHI: The third tranche of the sovereign gold bond (SGB) scheme 2021-22 opened for subscription on Monday. This issue comes soon after the first and second tranche, but is priced slightly higher than both. Prospective bidders, who intend to subscribe to the scheme, can bid for a minimum of 1 gm of gold at
Dollar weakens broadly in relatively quiet Asian session today, while Australian Dollar is strengthening. Asia markets are trading mildly lower, but losses are limited. Month-end flow, plus holiday in the UK and the US, could keep activity subdued today. But the week ahead is extremely busy, with lots of first-tier economic data featured. Technically, Dollar’s
EUR/JPY is heading to the top of its channel at 134.73 though RSI has not confirmed the new high. Therefore, the pair could struggle to extend its recent advance, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Uptrend at 131.19 underpins euro/yen “EUR/JPY last week closed above 133.13/48, these were the
Traders are using various strategies to determine whether Bitcoin price has bottomed, but on-chain activity and derivatives data hint that the situation remains precarious. Has Bitcoin price bottomed yet? According to @noshitcoins, derivatives and on-chain data signal that further downside could be in store. Traders have been trying to time the much-anticipated trend reversal ever
Its month end too The US the stock market is opening with relatively modest and similar gains across the major indices. Remember, it is month end today (the stock market will be closed on Monday for Memorial Day). That could lead to flow data and increased volatility. A snapshot of the market currently shows: S&P index up 12.18 points or
Australian PM Morrisson visited New Zealand over the weekend to meet with PM Ardern. Ahead of his visit New Zealand Trade Minister O’Connor said the NZ government was backing Australia in Australia’s trade tensions with China:. “New Zealand is participating in this dispute as a third party because it raises systemic issues of importance to the
NEW DELHI: Aluminium prices on Friday fell Rs 2.45 to Rs 193.60 per kg in the futures market as participants trimmed their positions on a low trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in June declined by Rs 2.45, or 1.25 per cent, to Rs 193.60 per kg in
The June RBA meeting will have little surprise, as the central bank has already planned to adjust yield curve control (YCC) and QE measures in July. This week, policymakers will discuss recent economic data and the economic impacts of the lockdown in Melbourne. All monetary policy measures will stay unchanged: The cash rate target would
AUD/USD bulls seeking deeper test of the daily resistance zone. Bears need to take out daily support at this juncture while the RBA comes as a major hurdle for AUD AUD/USD will be the focus for the open on Monday given the economic calendar’s line up which considers Chinese PMIs as the main data for
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Dollar selling takes the pair back to the downside The USDCAD and retraced all its gains from the day. The low from the first hour of trading in the Asian session reach 1.20635. The price just dipped to a new session low for the day at 1.20629. All the declines have occurred in the last 2+
Weekly futures forex positioning data from the CFTC: EUR long 104K vs 100K long last week. Longs increased by 4K GBP long 31K vs 25K long last week. Longs increased by 6K JPY short 50K vs 51K short last week. Shorts decreased by 1K CHF short 1K vs 4K short last week. Shorts decreased by 3K AUD
NEW DELHI: Copper futures on Friday slipped 1.17 per cent to Rs 760.95 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 9, or 1.17 per cent, to Rs 760.95 per kg in a business turnover