Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week. Brent crude for January rose 19 cents, or 0.4%, to $47.99 a barrel by 1443 GMT and the more active February contract gained 25 cents to $48.04. West Texas Intermediate,
News
Trading continues to be subdued in Asia as markets are in holiday mood. Yen is trading mildly higher overall, but remains the worst performing one for the week. Dollar’s selloff slowed somewhat, but remains the second worst for the week. Commodity currencies are set to close the week as strongest, led by New Zealand Dollar.
Forex news from the European trading session – 27 November 2020 Headlines: Markets: CAD leads, GBP lags on the day European equities a little higher; E-minis up 0.1% US 10-year yields down 2.5 bps to 0.857% Gold down 0.5% to $1,807.60 WTI down 0.7% to $45.35 Bitcoin down 0.5% to $16,977 It was a largely
Prices of spices including coriander, turmeric and cumin have fallen 5% to 7% in the past month because of a bigger harvest and weak export demand. Coriander future prices for December delivery on the NCDEX dropped 7.43% to Rs 6,300 per quintal of 100 kg; turmeric fell 6.32% to Rs 5,525 per quintal; and cumin
Sterling turns generally lower in quiet holiday-mood trading today. Sellers are back in control as there appears to be no path out of the Brexit trade talk deadlocks yet. And, time is running out clearly. Overall, Yen and Dollar remain the worst performing ones of the week, on general optimism over coronavirus vaccines. New Zealand
A quickie from a JPM note on the US equities. Looking for much greater gains, citing: Expectations of many key risks subsiding (e.g. U.S. elections, pandemic and vaccine news, etc.) clearing the path to a more positive forward outlook” While there has been some upward pressure on rates, central bank policy continues to be accommodative
Gold gained on a softer dollar on Thursday and as a mounting number of COVID-19 cases and their economic toll raised investor expectations of further fiscal and monetary support. Spot gold was up 0.5% at $1,813.50 per ounce by 1305 GMT. U.S. gold futures were up 0.4% to $1,812.10. The dollar index held close to
Markets are generally rather quiet in Asian session today, with Thanksgiving holiday in the US in sight. Risk markets are taking a breather after the earlier rally, so do the selloffs in Dollar, Yen and Swiss Franc. Nevertheless the trio remain the weakest ones for the week. On the other hand, New Zealand and Australian
AUDNZD sell on rallies now? On Tuesday the RBNZ prompted a sharp spike higher in the NZ 10 year bond yields. From here the RBA is focuses on keeping short term yields close to the OCR and that could leave AUD yields slightly below NZD yields until there is a dovish shift from the RBNZ.
NEW DELHI: Metal and energy counters traded mixed on MCX on Thursday. At the same time, most agri commodities were trading with losses amid rising Covid cases and increasing jobless claims in the US. Gold was up 0.11 per cent while silver dipped 0.42 per cent. All base metal counters were trading with gains led
The minutes for the FOMC meeting in November shows that policymakers were cautiously optimistic about the economic recovery and the impacts of the monetary policy tools on the economic outlook. As negative interest rate has been ruled out, the Fed’s future policy tool is dependent on asset purchases (QE). We are not surprised to see
Weekly oil inventory data from the EIA Prior was +769K Gasoline +2180K vs +1150K exp Distillates -1441K vs -2250K Refinery utilization +1.3% vs +0.7% exp API numbers from late yesterday: Crude +3800K Gasoline +1300K Distillates -1800K Cushing -1400K This is a larger surprise than it appears because there was some oil selling on the API
WTI crude up 0.56% today WTI crude is up 23-cents to $45.15 today but the it’s come down from a high of $45.72 as the risk trade bleeds a bit lower here. Some of the selling came after a Reuters report saying OPEC and Russia are “leaning” towards delaying the planned taper of cuts. They
Coments in Euronews I do believe that, with some creativity, we can facilitate the ratification of a deal Deal could be agreed ‘perhaps on a staged basis’ There’s been a substantial bid in cable in the past 30 minutes. This looks like fixing demand to me and we saw the same thing yeterday. The news
Biden transitional team reporting The Biden transitional team is reporting that the president elect will announce key members of his economic team next week. They also announced that they have been briefed on operation warp speed and Covid response, and are expected to receive 1st residential daily intelligence briefing on Monday. In other news from Washington,
The sporting legend is dead at 60 Argentina’s Clarin reports that football legend Diego Armando Maradona is dead at the age of 60. The report says he died this morning at a house in the in the Buenos Aires where he had been recuperating from an Oct 30 operation. He had brain surgery for a
CDC data today US coronavirus deaths rose by 1989 yesterday; that’s only about 10% below the April peak. There were 165,282 new cases and that’s a bit of good news because a week earlier cases were at 177,000. All else equal, US cases are likely plateauing but given that today is the biggest travel day
Rating agency ICRA on Wednesday said that palm oil prices in the near term would remain elevated and would largely depend on the outcome of La Nina weather pattern in Southeast nations. Palm oil is mainly consumed in food industries such as bakery products and HoReCa (hotels, restaurants and catering) segment, while household consumption remains