The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +3.59 mmb to 1288.89 mmb in the week ended March 12. Crude oil inventory gained +2.4 mmb (consensus: +2.96 mmb,) to 500.8 mmb. Stockpile increased in 2 out of 5 PADDs. PADD 3 (Gulf
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NEW YORK: Oil rose more than 2% in volatile trading on Friday, but finished the week about 7% lower as a new wave of coronavirus infections across Europe dampened hopes that fuel demand would recover soon. Brent crude settled up $1.25 a barrel, or 2%, at $64.53 a barrel. West Texas Intermediate (WTI) U.S. crude
The staff significantly upgraded economic projections. While the policy rate will unlikely change before 2024, the median dot plot reveals that more members are now projecting rate hikes in coming two years. As widely anticipated, the Fed left all monetary policy measures unchanged: The size of asset purchases stays at US$120B per month and the
Forex news for NY trading on March 19, 2021. In other markets: Spot gold is trading up $6.87 or +0.39% at $1743.20 Spot silver is up $0.12 or 0.46% $26.20 WTI crude oil futures rallied $1.49 or 2.48% $61.49 The price of bitcoin is trading up $1300 or 2.26% at $58,780 Today was a somewhat different day that has
NEW DELHI: Gold prices rose by Rs 85 to Rs 45,036 per 10 gram in futures trade on Friday as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for April delivery traded higher by Rs 85, or 0.19 per cent, at Rs 45,036 per 10 gram in
US treasury yield jumped last week after Fed gave way to more yield strength. In the background, there were some concerns over resurgence of coronavirus infections in some countries like France, Brazil and India. There was also risk of slower than originally expected vaccine rollouts. Tensions between US China heightened after the “diplomatic” talks in
Forex news for NY trading on March 19 2021 In other markets: Spot gold is trading up $6.87 or +0.39% at $1743.20 Spot silver is up $0.12 or 0.46% $26.20 WTI crude oil futures rallied $1.49 or 2.48% $61.49 The price of bitcoin is trading up $1300 or 2.26% at $58,780 Today was a somewhat different day than has been
NEW DELHI: Silver futures on Friday dropped Rs 383 to Rs 67,364 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 383, or 0.57 per cent, to Rs 67,364 per kg in a business turnover of 11,605 lots. Silver traded lower
Sentiments appear to be weighed down by the upstoppable rally in treasury yields again today. At the time of writing, US 10-year yield is trading above 1.75 handle while Germany 10-year bund yield is at -0.25. US futures point to lower open, with weakness seen particular in NASDAQ again. Dollar stabilized from yesterday’s post FOMC
Powell and Co. all scheduled to speak next week The Fed decision was on Wednesday and with it ends the quiet period for Fed members to speak. Next week, we will get a lot of talk from Fed officials that will allow the bond, stock and forex markets the opportunity to either agree or disagree.
LONDON: Oil prices rose slightly on Friday in a volatile trading session, following a big sell-off the previous day as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened expectations of any imminent recovery in fuel demand. Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel by 1450
Dollar is generally firmer as markets enter into US session. Futures point to a flat open, but investors are clearly on guard of selloff before the weekend. Cautiousness is keeping Yen afloat too, even though Swiss Franc is lagging behind. As for today, Sterling is the worst performing one, followed by Swiss, and then Aussie.
Daily thread to exchange ideas and to share your thoughts Major currencies are keeping mixed and little changed to start the day, as things are keeping more quiet ahead of European morning trade. The yen is slightly firmer after the BOJ policy decision earlier, following a bit of a drop initially on the announcement – which was
KOLKATA: Gold loan offtake has slowed down in Q4 of FY21 due to sharp correction in gold prices. Prices of gold have fallen from Rs 51,000 per 10 gm in the beginning of January to Rs 45,000 per 10 gm now. The NBFCs said that the assets under management for this quarter is likely to
Renewed surge in US treasury yields overnight sent stocks lower. Risk-off sentiments continued in Asian session general. Australian Dollar is currently the worst performing one for the day, weighed down further by weak retail sales data. Canadian Dollar is following as second weakest, as oil priced tumbled. Swiss Franc, Yen and Dollar are the stronger
Canadian retail sales the only event for North American traders Friday’s economic calendar will keep the focus on price action rather than economic news. The US slate is completely empty save for the weekly Baker Hughes oil rig count, which isn’t even an oil market mover. Some European news will cross in the overlap with
NEW YORK: Oil prices sunk for a fifth day in a row on Thursday to their lowest in two weeks on growing worries about rising COVID-19 cases in Europe and the strengthening US dollar that hurts the value of oil. Brent futures fell $3.74, or 5.5%, to $64.26 a barrel by 1:02 p.m. EST (1702
The BOE voted 9-0 to leave the Bank rate unchanged at 0.1%. It will also continue to buy up to 875B pound of UK government bonds and 20B pound of corporate debts. While cautioning that the economic outlook remained highly uncertain, policymakers acknowledged the recent upbeat data, smooth vaccination progress and the latest budget package.