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The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the previously agreed increase of 400,000

Consolidation or a short pause? 10-year Treasury yields nearly touched 1.36% just before Powell’s speech but they’re down to 1.32%, highlighting that the bond market is less worried about a September taper. I think the market discussion will shift away from a Nov/Dec/Jan timing on tapering decision to more of a focus on the pace.

Physical gold demand in India was subdued this week as jewellers held off purchases, hoping for a dip in prices, but top consumer China saw a slight uptick in activity. Dealers in India were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75 per cent import and 3

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The government’s Gold Monetisation Scheme (GMS) allows you to deposit your idle gold with a Reserve Bank of India (RBI) designated bank and earn interest on the same. This works similar to a bank fixed deposit. Depending on the tenure of the GMS one opts for, one can earn up to 2.5% interest per annum.

Natural gas up another 4.5% today A tight US storage report yesterday sent natural gas prices into overdrive, spiking 6% yesterday and another 4.5% today. Prices at Henry Hub are at $4.37 per MMBtu, which was a pipedream a year ago when they were at $1.80. For the Fed, this adds a complication to the

Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium didn’t disappoint. He did what the markets expected, affirming the openness for beginning tapering this year, without indicating the need for an imminent start. Just as Philadelphia Fed President Patrick Harker described, Powell laid out where the center of the FOMC is in terms of

Forex news for North American trading on August 27, 2021. The forex markets (and other markets for that matter) have been tending to go from key event to key event.  This week, it was the keynote address from Fed Chair Powell at the Jackson Hole virtual summit.   For good order sake, that summit was schedule

Japanese yen has been rather stable over the past weeks despite volatility in other major currencies. It’s resilient performance over the past few days despite heightened FOMC tapering talks is no accident. We summarize three major drivers of this. Funding Currency Firms on Risk Aversion A key theme of USD’s strength over the past weeks

LONDON: Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend. Brent crude futures were $1.22, or 1.7 per cent, higher at

Atlanta Fed sees GDP at 5.1%. NY Fed model moves higher to 3.8% Both the Atlanta Fed and NY Fed GBP models are out with the two moving closer together.   The Atlanta Fed GDPNow model now projects 5.1% growth in the 3Q which is down from 5.7% on August 25.  In their own words they say:  The GDPNow model estimate

The overall markets continue to tread water in early US session. Two Fed officials expressed their support for tapering, but investors are probably still waiting for Chair Jerome Powell’s Jackson Hole speech to take action. There is also little reaction to stronger than expected PCE inflation data. Commodity currencies are still the strongest ones for

New Delhi: Gold in the national capital on Friday gained Rs 99 to Rs 46,312 per 10 gram amid a recovery in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,213 per 10 gram. Silver, however, dipped marginally by Rs 32 to Rs 61,667

Forex news for Asia trading on Friday 27 August 2021  During US time we had hawkish comments out of numerous Fed officials ahead of Chair Powell’s speech scheduled for Friday morning, US time: In morning trade Asia took the USD up a little, with drops for EUR, AUD, NZD, GBP and CAD. Those, admittedly small,

Another round of selling was seen in Dollar overnight, as US stocks extended record run. But Yen was even weaker, following the strong rally in treasury yields. It remains to be seen if investors are already starting to position themselves for the Jackson Hole symposium. For now, Yen, Dollar, and Swiss Franc are the worst

Gold prices were steady on Friday, as investors awaited Fed chief Jerome Powell’s speech later in the day at the Jackson Hole symposium after some US central bank officials called for paring bond purchases. FUNDAMENTALSSpot gold rose 0.1% to $1,793.68 per ounce by 0104 GMT. US gold futures rose 0.1% to $1,796.70. The held firm

Kaplan is a voting member in 2023 Feds Kaplan is expected to speak at 10:30 AM ET.  Last week (August 20) Kaplan shifted his stance a bit due to the Delta variant.  Fed’s Kaplan on Fox Business The big “imponderable” is path of Delta virus. So far the Delta virus has not had a material effect on mobility