NEW DELHI: Crude oil prices on Tuesday fell Rs 16 to Rs 5,414 per barrel after the participants cut their positions. On the Multi Commodity Exchange, crude oil for the July delivery dropped by Rs 16, or 0.29 per cent, to Rs 5,414 per barrel with a business volume of 9,493 lots. Analysts said the
Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% in May from the previous month to a seasonally adjusted annualized rate of 5.8 million units, according to the National Association of Realtors. That is the fourth straight month
USD/CAD is meeting a firm support area as Powell testifies. The bulls will be seeking an upside extension as the Fed turns hawkish. USD/CAD is currently trading at 1.2328 and down a touch by 0.23% following an extension of the prior day’s bearish correction. Funds topped out at a post-Federal Reserve hawkish hold high of 1.2487 on
Dow up nearly 600 points as Fed concerns ease a bit. All the major indices are closing higher on the day led by the Dow industrial average which rallied near 600 points. Stocks were supported by less hawkish than expected comments from Feds Bullard and Kaplan. S&P rises for the first time five trading days S&P
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NEW DELHI: Gold prices edged higher on Tuesday after the dollar took a breather, lifting demand for the safe-haven metal, ahead of US Federal Reserve Chairman Jerome Powell’s testimony to Congress later in the day. The yellow metal ticked up in domestic markets, following the global cues. The US economy continues to show “sustained improvement”
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Palladium gradually overcomes three-month low, up for second positive day. 50% Fibonacci retracement, 100-DMA guards immediate upside, multiple horizontal lines test the bulls afterward. Late March low, 61.8% Fibonacci retracement restrict short-term downside. Palladium (XPD/USD) holds onto the previous day’s recovery moves from mid-March lows, taking rounds to $2,595 heading into Tuesday’s European session. In
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Luxury auction house Sotheby’s will accept bids in crypto for a massive diamond scheduled to be auctioned in Hong Kong next month. According to a Monday Reuters report, Sotheby’s will offer a 101.38-carat pear-shaped diamond for bids in crypto and fiat starting on July 9. Buyers are expected to bid up $118 million HKD —
100 day MA at 1.39367 The GBPUSD is moving closer to its 100 day MA at 1.3937 (off the bid side prices). The high price just reached 1.39317. The move back to the 100 day MA should solicit sellers looking to lean against the risk defining level. The price moved below the MA on Thursday,
Trade ideas from FBS The US central bank turned the market upside down. It signaled that higher inflation is a concern and that it’s considering tapering policy. The USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week! Trade
LONDON: Oil prices were largely steady on Monday on rising demand in the northern hemisphere’s summer driving season, but traders braced for a return of Iranian crude supplies despite a pause in talks to end U.S. sanctions. Brent crude for August lost 24 cents, or 0.3%, to $73.27 a barrel by 1255 GMT. U.S. West
Dollar and Yen retreat as markets enter into US session. Stock markets are staging a mild rebound in Europe, while US futures also point to higher open. Treasury yields also recovered from earlier decline, with US 10-year yield back above 1.4 handle at the time of writing. New Zealand Dollar leads Australian and Sterling higher.
Improving demand outlook continues to boost crude oil prices. Nuclear talks between Iran and US come to a halt after Iran’s presidential election. Focus shifts to weekly crude oil stock data from US. Crude oil prices registered gains for the fourth straight week last week and preserved the bullish momentum on Monday with the barrel of