Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. Brent crude futures rose 82 cents, or 0.7%, to $114.32 a barrel by 0105 GMT after a 2.4% gain on Monday. U.S. West Texas Intermediate crude climbed $2.58, or 2.4%, to
Month: July 2022
It’s a rather slow start to the week, with major pairs and crosses stuck inside Friday’s range. Trading could remain subdued for the day with the US on holiday. But there are lots of events to look forward to, starting from RBA’s rate hike tomorrow. Minutes of Fed and ECB meeting might not reveal anything
Gold is range-bound in a relatively quiet holiday trade on Monday. A break of Monday’s lows could be the catalyst for a long squeeze and open prospects of a significant move to the downside. The Fed minutes and Nonfarm Payrolls are eyed as potential catalysts. At $1,807.17, the gold price is slightly underwater in the
Prior was 56.8 Sentiment hit at 17-month low though still positive New orders at 23-month lows Production volumes grew in June for the 24th consecutive month Further acceleration in backlogs Input prices accelerated in June Full report (pdf) Everyone expects a slowdown in factory activity after the pandemic boom, but where it settles out is
New Delhi: Gold in the national capital on Monday rose by Rs 241 to Rs 52,048 per 10 grams amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 51,807 per 10 grams. Silver also gained Rs 254 to Rs 58,139 per kg from Rs 57,885 per
Australian Dollar recovers broadly today, following recovery in European markets. Meanwhile, traders are also preparing for tomorrow’s RBA rate hike. New Zealand Dollar is also mildly firmer. On other hand, Yen is turning softer with Swiss Franc and Dollar. Euro and Sterling are mixed for now. Overall, trading is subdued with US on holiday. Technically,
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The US Dollar Index (DXY) jumped by close to 3.0% in June. Economists at MUFG Bank expect the greenback to remain on solid foot before reversing back lower by year-end and more evident in 2023. No let-up from the Fed as inflation fight is the primary focus “We can now say that the FOMC rates
In the middle of crypto’s latest bear market, industry and asset class detractors have rallied together to share their skepticism and network with lawmakers at their own anti-crypto conference. Whereas most crypto conferences exist to promote the latest developments on the cutting edge of the industry, crypto critic journalist Amy Castor said in her July
Gold prices edged lower on Monday, as an elevated U.S. dollar hurt demand for greenback-priced bullion and also outweighed support from weakening Treasury yields. FUNDAMENTALS * Spot gold was down 0.2% at $1,807.19 per ounce, as of 0101 GMT, after hitting a five-month low of $1,783.50 on Friday. U.S. gold futures fell 0.5% to $1,809.50.
These forecasts are from Wells Fargo analysts. In the pic below I have stuck a box around the majors. AUD looks very sad …. The report is long one. Its from last last week so this is a bit of a catch-up. In, very, brief: Given our view for more Fed tightening than financial markets
EUR/USD will be vulnerable to critical events in the week ahead. US data will be watched closely as will the Fed and ECB minutes. EUR/USD was down some 0.5% on Friday due to the pick-up in pessimism about the global economic outlook. The US dollar has found its feet yet again due to the demand for
LONDON – Copper prices slumped on Friday to their weakest in 17 months as inflation and factory data reinforced fears that central bank tightening would push economies into a recession and hit metals demand. Three-month copper on the London Metal Exchange had eased 2.6% to $8,047 a tonne by 1630 GMT after dropping to its
“My own views on policy… are that we need to get to something like the neutral rate of interest by the end of the year, which in my judgment would be to around the 3.1% range of a nominal Fed funds rate.” “And so what would unwind the need to do that? Well, if there
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The EUR/GBP seesawed in a volatile 100-pip trading session on Friday. Weak data from the UK and the EU left traders undecided on which direction to take. The EUR/GBP daily chart depicts the pair as upward biased, but the 4-hour illustrates the cross might correct towards 0.8550 before resuming the uptrend. The EUR/GBP advances during