The markets are trading in consolidative mode in Asia today. Dollar attempted to resume near term rally against Euro overnight, but quickly lost momentum. While Yen remains generally weak, selloff slowed, along with slight retreat in US 10-year yield, and retreat in stocks. Traders will turn their focuses firstly to UK GDP in European session,
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TOKYO: prices rose on Thursday, reversing previous losses, on expectations that high natural gas prices as winter approaches may drive a switch to oil to meet heating demand needs. Brent crude futures gained 28 cents, or 0.3%, to $83.46 a barrel at 0107 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude
…and to think it was at 6.3% at one point The Atlanta Fed GDPNow estimate for third-quarter GDP is at 1.2% down from 1.3% last. That is the low watermark for the estimates for the quarter. The high watermark was way up at 6.3% back in August. In their own words The GDPNow model estimate for real GDP growth (seasonally adjusted
Gold was set on Friday for its best week in more than five months as a retreat in the U.S. dollar and Treasury yields lifted the metal’s appeal despite a looming Federal Reserve taper. FUNDAMENTALS * Spot gold held steady at $1,794.09 per ounce by 0115 GMT but was up 2.1% for the week so
WTI crude oil up 97-cents to $82.28 What a run it’s been for the crude oil bulls in basically a straight line to $82 from $62 on August 23. This is the eighth straight week of gains in crude and the highest close since 2014. Today is contract expiration and there’s moderate backwardation through the
Gems and jewellery exports rose by 29.67% to Rs 23,259.55 crore in September 2021 compared to Rs 17,936.86 crore in the year-ago month, according to the Gem and Jewellery Export Promotion Council (GJEPC). In September 2019, the shipments were worth Rs 23,491.20 crore. For the April-September period, the shipments surged by 134.55% to Rs 1,40,412.94
Yen’s selloff accelerated rather steeply last week, on the back of surging commodity and energy prices. Dollar was also pressured this time, as treasury yields retreated and on late rally in stocks. Euro was not to far away, as pressured by selloff in crosses. On the other hand, commodity currencies ended broadly higher, as led
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Oil marketing companies have once again hiked fuel prices today, taking petrol and diesel prices to their highest ever levels across the country. This is the 14th time that petrol price has been hiked in two weeks, while diesel rates have gone up on 17 times in three weeks. Both petrol and diesel prices raised
At the FOMC minutes for the September meeting, the members sent more hints about QE tapering. It is highly likely a formal announcement will be made in November, barring abrupt deterioration of pandemic condition and power shortage problems. On economic developments, the Fed acknowledged that “economic activity had continued to expand in recent months, though
Forex news for North American trade on October 15, 2021: Markets: Gold down $27 to $1768 US 10-year yields up 5.1 bps to 1.57% WTI crude oil up 94-cents to $82.25 S&P 500 up 32 points to 4470 NZD leads, JPY lags The US retail sales report was a strong surprise but the market reaction
LONDON: Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures were up 80 cents, or 0.95%, to $84.80 a barrel at 0930 GMT. Front-month
Sterling steals the show today breaking through key resistance levels the Japanese Yen, and a near term low against Euro too. Dollar is trying to strengthen against Euro and Swiss Franc on strong retail sales, but momentum is sluggish elsewhere. There is no change in the selloff in Yen, just some more accelerations. Aussie and
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London copper prices on Friday were on track for their biggest weekly gain in nearly five years on supply concerns and as sentiment was supported by the metal surpassing a key psychological level. Three-month copper on the London Metal Exchange rose 0.4% to $10,025 a tonne by 0633 GMT. It was up 7.1% on a