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In one version of history, the huge spontaneous protests in Kazakhstan were the result of years of grievances that boiled over after an increase in propane and butane prices, which are widely used as auto fuels there. In another version, a ‘hybrid war’ is ongoing where there’s an ongoing “attempt to undermine the security and

Gold inched up on Friday, hovering close to a two-week low hit in the previous session, after the chief of the World Health Organisation (WHO) said the Omicron variant cannot be considered ‘mild’, while stronger yields capped bullion’s gains. FUNDAMENTALS * Spot gold was up 0.2% to $1,791.73 per ounce by 0100 GMT. U.S. gold

It was a roller coaster ride as traders came back for the new year. Markets were in full risk-on mode as worries over Omicron faded. Yet, sentiment turned after more hawkish than expected FOMC minutes. Major stock indexes were than in deep pull back. Major global benchmark treasury yields powered through key resistance level. In

Not much adds up about today’s US dollar selloff. For one, it’s rare to see the dollar lower right across the board. Generally, if there’s a risk-on or risk-off day, you’ll get an outlier like USD/JPY. Today though, the dollar is even down 25 pips against the yen and is making new lows as I

MELBOURNE: prices rose on Friday as an uprising in Kazakhstan stoked worry that crude supply from the OPEC+ producer could be disrupted at the same time output has dropped in Libya. Brent crude futures climbed 48 cents, or 0.6%, to $82.47 a barrel at 0127 GMT, adding to a 1.5% jump in the previous session.

Markets are generally steady as focus turns to non-farm payroll from US today. For the week so far, Sterling and Dollar are still the strongest ones, as supported by strong rally in benchmark yields and expectation of hawkish central bank actions. Euro is mixed, pressured by the Pound but steady against Dollar. Yen’s weakest place

Markets: Gold up $5 to $1794 Bitcoin down $1172 to $41,949 US 10-year yield up 3 bps to 1.767% — highest since 2019 S&P 500 down 10 points to 4686 CAD leads, USD lags (I haven’t written that often in the past year) There’s perhaps a story to tell in Friday trading if you’re so

Gold in the national capital on Friday tumbled Rs 301 to Rs 46,415 per 10 gram in line with a decline in international prices of the precious metal, along with a rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 46,716 per 10 grams. Silver also tumbled Rs

At the time of writing, markets are still figuring out how to react to the mixed US non-farm payroll data. While the headline job grow was very disappointing, unemployment rate improved. More importantly, wages reported another month of strong growth. Canadian Dollar is trading mildly higher after strong job data, but there is no clear

NEW DELHI: Gold prices were trading marginally higher on Friday although hovering near a multi-week low following a sharp decline on Thursday. The chief of the World Health Organization (WHO) said the Omicron variant cannot be considered ‘mild’, while stronger yields capped bullion’s gains. Gold futures on MCX gained 0.08 per cent or Rs 38

More hawkish than expected FOMC minutes sent US stocks lower overnight, and the negative sentiment carries on in Asian session. Australian Dollar leads commodity currencies sharply lower. Yen recovers but buying is weak on strong treasury yields. Dollar is also mildly firmer together with Euro. Technically, we’ll look at some Yen crosses to gauge if

prior month 69.1 (record high) new orders 61.5 versus 65.0 estimate. Last month 69.7 employment index 54.9 versus 54.1 estimate. Last month 56.5 prices paid 82.5 versus 83.6 estimate. Last month 82.3 business activity 67.6 versus 71.0 expected (prior 74.6) supplier deliveries 63.9 versus 75.7 last month backlog of orders 62.3 versus 65.9 last month

SINGAPORE: The world’s top oil exporter, Saudi Arabia, has cut February’s official selling price (OSP) to Asia for its Arab light crude to plus $2.20 a barrel versus Oman/Dubai crude. The February OSP to Asia for the Arab light grade is the lowest in three months. State oil giant Saudi Aramco on Thursday set the

Yen is trying to recover on weaker risk sentiment today. But momentum is relatively soft against Dollar and Europeans. Aussie and Kiwi follow broader risk markets lower. Sterling and Dollar remain the strongest ones for the week, on expectation of hawkish BoE and Fed. Euro and Swiss Franc are mixed, with Euro having a slight

Dollar smile, anyone? The hawkish Fed tone from yesterday is helping to pin down risk assets and the dollar is extending gains against the commodity currencies for the most part today. AUD/USD is down 0.9% to 0.7157 as price looks towards 0.7100 next: Meanwhile, we’re also seeing EUR/USD fall to a low of 1.1285 on

Gold prices were little changed on Thursday, as a surge in U.S. Treasury yields following hawkish meeting minutes released by the Federal Reserve offset the precious metal’s safe-haven demand amid rising cases of the Omicron coronavirus variant. FUNDAMENTALS * Spot gold was little changed at $1,810.59 per ounce by 0142 GMT. U.S. gold futures fell

The forex markets turn quiet in Asian session today. While DOW surged to new record high overnight, S&P 500 and NASDAQ closed slower. Asian markets are also mixed. Investors are holding their bets for now, awaiting FOMC minutes and, more importantly, US non-farm payrolls later in the week. For now, Yen remains overwhelmingly the worst

The market reaction to the FOMC minutes has been a classic hawkish response. Talk about the balance sheet shrinking and a high comfort level with hiking soon have pushed odds of a March hike to 80%. The dollar has rallied, yields are up and stocks are down in the aftermath. I’m always wary of the