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New Delhi: Crude oil and gasoline prices have been a hot topic for almost everyone recently as the basket of crude oil that India buys has hit a decade high of $121 per barrel. Last week the international oil prices hit near a 13-week high, underpinned by robust demand from key buyers like the US.

The S&P 500 has now wiped out the entire 2021 gain of 26.89%. The index closed on December 31, 2021 at 3756, which is right where it trades now. It’s down 140 points today or 3.6%. That makes the yearly chart in the S&P 500 look like this: Half the year remains but there’s the

Sterling falls broadly today after GDP unexpected contracted for the second month in April. Chance of an overall contract in Q2 is raised while there are few positive signs for Q3 for now. Meanwhile, the remaining chance of a 50bps hike by BoE later this week is basically priced out. Aussie and Kiwi are the

NEW DELHI: Gold prices eased on Monday, after hitting monthly highs in the last session. Hot inflation numbers in the US, which lifted the bond yields, dented the market appeal of safe-haven bullion. Benchmark US 10-year Treasury yields also rose, weighing on demand for zero-yield gold. Gold is seen as a safe-haven asset in times

The selloff in cryptos is one of the key highlights over the weekend but let’s not forget about the fact that equities also suffered a rather abysmal Friday, with the S&P 500 plunging by nearly 3% and Nasdaq falling by 3.5% to wrap up the week. The technical break below the consolidation range in the

Dollar rises broadly as the week starts as risk aversion extended into Asia session. But Yen is not benefiting much this time, as recovery lost momentum. Commodity currencies are also weak together with Euro. Swiss Franc and Sterling are just slightly better the others, but still weak against the greenback. The meetings of four major

Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Indian refiners have been snapping up cheap Russian oil, shunned by western companies and countries since sanctions were imposed against Moscow for its

MON: UK GDP Estimate (Apr). TUE: UK Jobs Data (Apr/May); Swedish CPI (May); German ZEW Survey (Jun); US PPI (May); OPEC MOMR. WED: FOMC Announcement; BCB Announcement; Chinese Industrial Production and Retail Sales (May), French CPI (May), US Retail Sales (May), New Zealand GDP (Q1); IEA OMR. THU: BoE Announcement; SNB Announcement; Australian Labour Market

Oil bulls are starting to picture a world in which China, the engine of demand growth, comes back to the market. And if their analysis is right, the summer is going to be painful for oil consumers everywhere who’re already facing spiraling prices — whether that’s Americans paying about $5 a gallon gasoline, or Brits

Beijing has reintroduced a few minor restrictions (all off-campus and “offline” sports activities for teens would be cancelled starting Sunday). Earlier a spokesperson for the city’s government said a recent outbreak “The recent outbreak … is strongly explosive in nature and widespread in scope“. Which does not sound too good at all. Even Chinese Communist

It was a non-consequential week for gold as market players remained non-committal ahead of the US Fed decision next week. The price traded in a narrow range near $1850/oz for most of the week, but a late Friday rally helped the bullion gain about 1.5%. Gold has recovered substantially from the lows set in mid-May.

The stronger than expected CPI reversed premarket stock gains and pushed the major  indices  lower. A weaker Michigan consumer sentiment didn’t help with the overall sentiment. The weekly percentage declines in the Dow, S&P, and  NASDAQ  weeks was the worst since January 21 Major indices closed near lows for the day Dow Jones is down

Worries of stagflation intensified a whole lot last week. In particular, even the habitually cautious ECB pre-committed to rate hikes in July and September, while delivering new economic forecasts with sharply higher inflation and lower growth projections. Selloff in risk markets accelerated further after US CPI re-accelerated to new 40-year high. The hope of inflation

Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world’s top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed. Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT, while U.S. West Texas

Markets: S&P 500 down 117 points, or 2.9%, to 3900 US 10-year yields up 11.3 bps to 3.155% WTI crude oil down 86-cents to $120.65′ Gold up $23 to $1871 USD leads, GBP lags Jitters were running high ahead of the May US CPI report but the reality was even worse than the fears. All

Euro’s post ECB rally was very short-lived, while market turned into risk-off mode later in US session. Negative sentiment continues in Asia today as US consumer inflation data is awaited. So far, Sterling is the strongest one for the week followed by Dollar, and then Canadian. Yen is the overwhelming loser, extending recent down trend

New Delhi: Gold prices declined by Rs 58 to Rs 50,793 per 10 grams in the national capital on Friday, according to HDFC securities. In the previous trade, the yellow metal settled at Rs 50,851 per 10 grams. Silver also tumbled by Rs 601 to Rs 60,914 per kg from Rs 61,515 per kg in