Big week for oil WTI settled up 81-cents to $69.62 today. That’s the highest settlement since 2018 and the intraday high of $69.76 was also the highest since then. On the week, oil gained nearly 5% despite continued concerns about coronavirus and OPEC+ offering no surprises. The tailwind appeared to be Iran with nuclear talks
By Navneet Damani Gold prices rose nearly 7 per cent in May, marking the second green candle for the year so far. The yellow metal traded with high volatility in the range of $1,765 to $1,913, and marked the highest level in four and half months. Similarly, silver also traded with high volatility and ranged
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out of 5 PADDs. PADD 3 (Gulf
Job creation disappointed again in May, with nonfarm payrolls up a solid 559,000 but still short of lofty expectations, the Labor Department reported Friday. Payrolls were expected to increase by 671,000, according to economists surveyed by Dow Jones. The unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%. May’s
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CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.
All major indices higher All the major indices are closing the session with gains. The day was led by the NASDAQ index NASDAQ has its best day since May 20 NASDAQ higher for the third straight week S&P has its best day since May 24 Dow and S&P higher for the second straight week A look
Yields drop today US 10-year yields are down 6.6 bps to 1.56% today to the lows of the day and the week. A fractionally lower dip would be the lowest close since April 22. Clearly the market is growing less worried about a taper and runaway inflation, but the mood of this market can shift
Forex news for North American trading on June 4, 2021 The US employment report showed a gain of 559K (with revisions of +27K) but that was not enough to satisfy those looking for tapering sooner rather than later. The expectations was for 675K (with the whisper levels likely higher than that given the tepid 266K – revised to 278K – last
Challenges stimulate progress. Technology, pretty much like life itself, cannot be static. Only dynamics stimulate positive changes. Amid the collapse of the cryptocurrency market in mid-May, many retail and institutional investors began to lose faith in the bright future of cryptocurrencies in general and Bitcoin (BTC) in particular. Corporations and institutions, whales, and early adopters
Last week’s tumultuous 30% crypto market dip and subsequent quick recovery left many wondering what comes next. Crypto circles aside, the conversation around the importance of building solid, broadly usable applications is louder than ever. Crypto will cease to be perceived as a casino on the edges of the internet when participation outweighs speculation. An
NEW DELHI: Gold in the national capital declined by Rs 388 to Rs 47,917 per 10 gram on Friday amid muted global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,305 per 10 gram. Silver also tumbled Rs 920 to Rs 69,369 per kilogram from Rs 70,289
Gold rebounded from a more than two-week low on Friday after U.S. nonfarm payrolls did not rise as much as expected, although bullion was still on course to register its biggest weekly decline since March. Spot gold jumped 1% to $1,889.27 per ounce by 1:46 p.m. EDT (1746 GMT), having earlier in the day hit
Dollar drops notably in early US session after another NFP miss. It has now reversed all of yesterday’s late gains. Canadian Dollar also turns softer after weaker than expectation job data. On the other hand, other commodity currencies strengthen mildly. In other markets, US future turn up on expectation Fed is not closer to tapering.
Dollar was in a pole position to end as the strong one but was the unfortunately knocked down by solid, but disappointing non-farm payroll report. The data did nothing to alter the base position of Fed officials that, it’s only time to talk about talking about tapering for now. Some more time is still needed
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters Hiring improved in May, but 559,000 new jobs aren’t enough to spur the Federal Reserve to begin to talk about tapering back its bond purchases. Friday’s Labor Department report on new payrolls was below the 671,000 expected