MELBOURNE: prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil. U.S. West Texas Intermediate (WTI) crude futures slipped 5 cents to $74.98 a barrel at 0153 GMT,
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Dollar had been the strongest for most of the week but lost it first place at the time, as treasury yields retreated. Instead, resilient risk appetite in the US, as well as firm oil price helped Canadian and Australian Dollars stole the first and second place. On the other hand, Euro ended as the worst
Carbon capture is a major priority for Manchin A report late today revealed that the White House had agreed to boost carbon capture tax credits to $85 per tonne for industries such as steel and concrete plants. Yesterday’s leak of priorities from Manchin was revealing. He’s the ranking member of Senate Committe on Energy and
Nickel prices slipped about 6 per cent on the LME, whereas prices on the ended lower by 1.2 per cent. Nickel prices rose earlier in the month, on booming demand from the stainless steel segment following the resumption in global economic activities and expansion of the EV sector. Along with increased stainless-steel production, depleting inventories
Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall directions in the currency markets will
Forex news for North American trading on October 1, 2021 The US core PCE data for the month of August remain steady at 3.6%. That was the expected rate as well. Although inflation remains well above the 2% level, the expectations are that some of the gains are transitory and will come down over time.
New Delhi: Gold in the national capital on Friday rallied Rs 555 to Rs 45,472 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 44,917 per 10 grams. Silver also jumped Rs 975 to Rs 58,400 per kilogram from Rs 57,425 per kilogram
Dollar continues to pare gains in early US session as the week is coming to a close. PCE inflation data is largely ignored by the markets, while Euro also shrugs CPI. Canadian Dollar also ignores smaller than expected GDP contraction. Sterling is leading the way in the rebound, followed by Aussie. As for the week,
Dollar trades back to little changed for the most part The greenback held a slight advance against commodity currencies earlier but has seen that pared with the aussie and kiwi notably erasing their earlier drop against the dollar to turn flat in European morning trade now. AUD/USD fell to a low of 0.7193 earlier but
NEW DELHI: Gold prices were trading with a marginal decline on Friday after a decent rebound in the previous session. Firm US dollar made the yellow metal expensive for holders of other currencies. The dollar recouped most of those losses on Friday and began the final quarter of 2021 at close to its highest level
The RBNZ is almost certain to raise the OCR by +25 bps to 0.5% next week. The Funding-For-Lending program (FLP) will stay unchanged at NZ$28B. This should not be affected by the slowdown in economic activities in the third quarter. While cautioning about the uncertainty of the pandemic and economic damage brought about by the
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 of your initial investment; do
New Delhi: Gold in the national capital on Thursday declined by Rs 154 to Rs 44,976 per 10 gram reflecting an overnight decline in international precious metal prices, according to HDFC Securities. In the previous trade, it had settled at Rs 45,130 per 10 gram. Silver also dipped Rs 1,337 to Rs 57,355 per kilogram
Dollar retreats mildly in Asian session but remains the strongest one over the week. The rally in treasury yields appear to be taking a breather. But 10-year yield is holding firm above 1.54 handle, while 30-year yield is also above 2.0 handle. Canadian is following as the second strongest, and then Aussie. On the other
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 of your initial investment; do
NEW DELHI: Gold prices were trading little higher on Thursday in the domestic market, following global cues. However, the yellow metal hovered near a seven-week low as a stronger dollar and taper expectations weighed on sentiments. Gold futures on MCX were trading higher 0.34 per cent or Rs 156 at Rs 45,925 per 10 gram.
Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk sentiment. Sterling is also soft with eyes on the energy troubles. But overall development is
S&P and Dow industrial average closed higher The NASDAQ index was up as much as 181.4 points or 0.89% at the session highs, but could not sustain the upside momentum and is closing lower for the fourth consecutive day. The index is down over 5% for the month and on pace for its worst month since