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Oil prices dip after unexpected rise in US crude stocks  Oil prices inched lower on Wednesday after industry data showed an unexpected rise in U.S. crude stocks, signalling weak demand to markets already worried about recession and disappointing Chinese economic data. Brent crude futures eased 27 cents, or 0.4%, to $74.01 a barrel by 0019 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.13 a barrel, down 29 cents, or 0.4%. Both benchmarks climbed over 3% on Tuesday on hopes of rising fuel demand afterus lowered a short-term lend...
Oil prices dip after unexpected rise in US crude stocks
Oil prices dip after unexpected rise in US crude stocks
Source: Reuters
14/06/2023 9:25:31 AM
Asia shares track Wall Street rally with inflation data, Fed in focus Asian shares edged up in early trade on Tuesday, following an upbeat session on Wall Street while investors turned their attention to key U.S. inflation data and the Federal Reserve's interest rate decision this week. Investors will be closely monitoring U.S. Consumer Price Index (CPI) data, due to be released on Tuesday, and Producer Price Index (PPI) data, due out Wednesday, for a reading of how well the Fed's tightening cycle has managed to curb inflation. The equity index...
Asia shares track Wall Street rally with inflation data, Fed in focus
Asia shares track Wall Street rally with inflation data, Fed in focus
Source: Reuters
13/06/2023 9:04:12 AM
Rupee set for slightly weak start to data-heavy week The Indian rupee may open marginally lower on Monday, bogged down by the decline in Asian currencies, to kick off a data-heavy week that includes the release of the U.S. inflation data and then the Federal Reserve rate decision. Non-deliverable forwards indicate the rupee will open at around 82.50 to the U.S. dollar, compared with its close of 82.4625 in the previous session. "Rupee traders will be hoping for a little bit of volatility this week," a fx spot trader said. "...
Rupee set for slightly weak start to data-heavy week
Rupee set for slightly weak start to data-heavy week
Source: Reuters
12/06/2023 8:57:42 AM
Asia shares near month high ahead of central bank meetings Asian shares started tentatively on Monday as investors braced for central bank meetings from Europe, Japan and the United States this week, along with U.S. inflation data that will likely influence the Federal Reserve's monetary policy path. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.17% to 519.96, having touched a more than one-month peak of 521.94 earlier in the session. The index is up 4% for the month. Japan's Nikkei rose 0.7%, while E-mini futures ...
Asia shares near month high ahead of central bank meetings
Asia shares near month high ahead of central bank meetings
Source: Reuters
12/06/2023 8:49:21 AM
Asia shares buoyed by Fed pause bets; dollar heavy Asia-Pacific equities rose to their highest level since mid-February on Friday, taking cues from an overnight Wall Street rally as market bets firmed for the Federal Reserve to skip a rate hike next week. Japanese and Australian bond yields followed those on U.S. Treasuries lower, and the dollar remained on the defensive early in the Asian session. MSCI's broadest index of Asia-Pacific shares added 0.6%, and at one point touched its strongest level since Feb. 16. Much of that was...
Asia shares buoyed by Fed pause bets; dollar heavy
Asia shares buoyed by Fed pause bets; dollar heavy
Source: Reuters
9/06/2023 8:35:51 AM
Dollar steady as traders consider Fed, global rates outlook The dollar was on the back foot on Thursday, though it drew some support from higher U.S. Treasury yields as traders contemplated the possibility of another rate hike by the U.S. Federal Reserve, even if it pauses next week. The increased expectations that U.S. and global interest rates may have further to rise has come on the back of surprise rate increases by the Bank of Canada (BoC) and the Reserve Bank of Australia (RBA) this week. The BoC on Wednesday hiked its overnight rate to a ...
Dollar steady as traders consider Fed, global rates outlook
Dollar steady as traders consider Fed, global rates outlook
Source: Reuters
8/06/2023 9:27:29 AM
Asian shares slide as traders fret on Fed rates Asian shares slipped on Thursday after a surprise interest rate hike by Bank of Canada revived worries that U.S. rates could stay higher for longer and the Federal Reserve could remain hawkish when it meets next week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.53%, while Japan's Nikkei edged 0.08% higher. Australia's S&P/ASX 200 index eased 0.09%. The Bank of Canada (BoC) surprised markets on Wednesday by hiking its overnight rate to a 22-year ...
Asian shares slide as traders fret on Fed rates
Asian shares slide as traders fret on Fed rates
Source: Reuters
8/06/2023 9:20:20 AM
Gold climbs on softer dollar as traders weigh Fed verdict Gold prices edged higher on Thursday, supported by a softer dollar, although bullion hovered near the previous session's lows as investors awaited cues from the U.S. Federal Reserve after the Bank of Canada hiked its rates to a 22-year high. Spot gold rose 0.4% to $1,946.47 per ounce by 0307 GMT, after shedding 1% in the previous session. U.S. gold futures edged 0.1% higher to $1,961.00. Gold has support from expectations of Fed holding rates next week with prices stuck in the $1,93...
Gold climbs on softer dollar as traders weigh Fed verdict
Gold climbs on softer dollar as traders weigh Fed verdict
Source: Reuters
8/06/2023 8:58:25 AM
Bank of Canada maintains policy rate at 4.5% The Bank of Canada has held its target for the benchmark interest rate at 4.5 per cent. In a statement on Wednesday, the central bank said that its governing council continues to assess whether monetary policy is sufficiently restrictive to relieve price pressures and remains prepared to raise the policy rate further if needed to return inflation to the 2 percent target, Xinhua news agency. The bank said it is also continuing its policy of quantitative tightening to complement its restr...
Bank of Canada maintains policy rate at 4.5%
Bank of Canada maintains policy rate at 4.5%
Source: IANS
13/04/2023 2:15:20 PM
6 central banks to boost flow of US dollars through global financial system Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger. Six central banks, including the Bank of England, announced they would boost the flow of US dollars through the global financial system, the BBC reported. On Sunday, the struggling Credit Suisse was taken over by UBS in a Swiss government backed deal. The US dollar liquidity "swap line" arrangement will run from Monday. In a statement,...
6 central banks to boost flow of US dollars through global financial system
6 central banks to boost flow of US dollars through global financial system
Source: IANS
20/03/2023 12:36:32 PM
Bank of Canada maintains policy rate at 4.5% The Bank of Canada held its target for the benchmark interest rate at 4.5 per cent. The bank's governing council will continue to assess economic developments and the impact of past interest rate increases, and is prepared to increase the policy rate further if needed to return inflation to the 2 per cent target, the central bank said in a statement. The bank said it is continuing its policy of quantitative tightening to complement its restrictive stance, reports Xinhua news agency....
Bank of Canada maintains policy rate at 4.5%
Bank of Canada maintains policy rate at 4.5%
Source: IANS
9/03/2023 11:22:17 AM
Artificial intelligence driven market research platform Entropik raises $25 mn AI-powered integrated market research platform Entropik on Wednesday said it has raised $25 million in a Series B funding led by Bessemer Venture Partners and SIG Venture Capital. Entropik said it has grown seven times in the last two years, riding on its patented Emotion AI Technologies and driven by its expansion into the US, Europe, Southeast Asia, and the Middle East. Over 150 global brands across finance, media, consumer goods, food and beverage, and entertainment leverage Entropik...
Artificial intelligence driven market research platform Entropik raises $25 mn
Artificial intelligence driven market research platform Entropik raises $25 mn
Source: IANS
8/02/2023 4:25:57 PM
Marketmind: So what's up with Treasuries? A look at the day ahead in European and global markets from Wayne Cole. Asking for a friend. Because it is not often 10-year yields suddenly drop 11 basis points, break a chart big barrier and hit three-month lows for no discernible reason. Some point a finger at the downward revision to Q3 U.S. labour costs. But Q3 is ancient history and only GDP nerds understand labour cost indices. Yes, China trade data were truly awful, but both U.S November payrolls and the services ISM surpr...
Marketmind: So what's up with Treasuries?
Marketmind: So what's up with Treasuries?
Source: Reuters
8/12/2022 12:18:40 PM
Stocks, oil struggle to pull out of four-day slide World stocks and oil prices battled to pull out of a four-day slide on Thursday as deeply inverted bond yield curves and choppy currency markets underscored the simmering concerns among investors about economic stagnation next year. Signs of China relaxing its COVID curbs had sent Hong Kong's Hang Seng up more than 3% overnight and hoisted the yuan to a 3-month high, but it was all much more subdued in Europe. [.EU] A groggy STOXX 600 - which has recovered more than 15% since Octobe...
Stocks, oil struggle to pull out of four-day slide
Stocks, oil struggle to pull out of four-day slide
Source: Reuters
8/12/2022 9:07:56 AM
Stocks sputter as growth fears offset China COVID shift World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China's major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan and Bank of America all sounded downbeat in remarks on Tuesday about the economic outlook, hurting risk appetite globally and triggering fresh recession signal from bond markets. "Yields have accentuated the downward trend...
Stocks sputter as growth fears offset China COVID shift
Stocks sputter as growth fears offset China COVID shift
Source: Reuters
7/12/2022 9:00:33 AM
European markets stay cautious after China eases pandemic measures European stock indexes opened slightly lower on Monday, finding little support from an easing of China's domestic pandemic restrictions, after market sentiment was dampened by U.S. jobs data on Friday that raised fears of persistent inflation. Asian shares had been boosted early on Monday by hopes that China taking steps to ease its zero-COVID policy would support global growth and increase commodity demand. More Chinese cities announced an easing of COVID-19 measures on Sunday, aft...
European markets stay cautious after China eases pandemic measures
European markets stay cautious after China eases pandemic measures
Source: Reuters
5/12/2022 4:53:35 PM
Global central banks extend rate hike push in November The pace and scale of rate hikes delivered by central banks in November picked up speed again as policy makers around the globe battle decade high inflation. Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month. The U.S. Federal Reserve, the Bank of England, the Reserve Bank of Australia, Norway's Norges Bank, Sweden's Riksbank and the Reserve Bank of New Zealand all raised interest rates in ...
Global central banks extend rate hike push in November
Global central banks extend rate hike push in November
Source: Reuters
5/12/2022 12:15:17 PM
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran India's central bank should allow rupee to depreciate gradually and use foreign exchange reserves judiciously, the government's chief economic adviser V. Anantha Nageswaran on Monday. Nageswaran comment on the rupee and foreign exchange reserves is the first official government comment since concerns about dwindling currency reserves emerged earlier this year. India's foreign currency reserves have fallen from a peak of $642 billion to $531 billion partly due to dollar sales...
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran
Source: Reuters
8/11/2022 9:57:10 AM
Rupee touches 82.72 against dollar before closing at 82.63 Indian rupee on Friday closed at 82.63 after touching a high of 82.72 against the US dollar. The Indian currency gave up its early gains due to higher dollar demand. Earlier this month, rupee had touched a record high of 83.18 against the dollar. The investors' dim outlook on China and also on the overall global economy has impacted the rupee. Rupee's fate will also depend on the crucial Federal Reserve meeting on November 2, market watchers said. In addition to this, t...
Rupee touches 82.72 against dollar before closing at 82.63
Rupee touches 82.72 against dollar before closing at 82.63
Source: IANS
28/10/2022 5:26:43 PM
Tech stock wipeout offsets central bank pivot hopes World share markets were down for a second day running on Friday as a near $1 trillion weekly wipeout in top tech stocks outweighed hopes of a slowdown in Fed and ECB rate rises and news that the U.S. economy is not in recession yet. European shares were down nearly 1% as Thursday's weak forecasts from Amazon and Apple sent the tech sector down over 2% and the prospect of renewed COVID curbs in China hit mining and oil firms. In the bond markets, borrowing costs were also starting t...
Tech stock wipeout offsets central bank pivot hopes
Tech stock wipeout offsets central bank pivot hopes
Source: Reuters
28/10/2022 3:53:43 PM
Rupee may inch up as fall in U.S. yields boosts Asian currencies The Indian rupee may open a shade higher against the dollar on Friday, as a further pullback in U.S. Treasury yields lifted Asian currencies. The rupee is tipped to open at around 82.45 per U.S. dollar, compared with 82.4900 in the previous session. The local unit managed to reach 82.15 on Thursday but struggled thereafter on broad-based dollar demand. It is "increasingly evident" that the 82 to 83 level is probably "the new range" for the rupee, a Mumbai-based trade...
Rupee may inch up as fall in U.S. yields boosts Asian currencies
Rupee may inch up as fall in U.S. yields boosts Asian currencies
Source: Reuters
28/10/2022 9:09:39 AM
Asian shares slip, yen wobbly after BOJ maintains dovish tone Asian shares fell on Friday and were set to snap a three-day winning streak, while the Japanese yen was squeezed lower after the Bank of Japan held on to its dovish policy and maintained ultra-low interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan was 1% lower. The index is down 3.6% for the month and 30% for the year. As widely expected, the BOJ kept unchanged its -0.1% target for short-term interest rates, and 0% for the 10-year government bond yield by an ...
Asian shares slip, yen wobbly after BOJ maintains dovish tone
Asian shares slip, yen wobbly after BOJ maintains dovish tone
Source: Reuters
28/10/2022 8:56:43 AM
Gold rises on dollar weakness, hopes of Fed easing rate hikes Gold prices rose on Thursday, hovering near a two-week peak hit a day earlier, as anticipation of the U.S. Federal Reserve easing the pace of its interest rate hikes weighed on dollar. Spot gold rose 0.2% to $1,667.49 per ounce, as of 0537 GMT. Prices hit a two-week high at $1,674.76 on Wednesday. U.S. gold futures were steady at $1,670.00. The dollar index wallowed near its lowest level since Sept. 20 hit earlier, making greenback-priced gold cheaper for overseas buyers. There ha...
Gold rises on dollar weakness, hopes of Fed easing rate hikes
Gold rises on dollar weakness, hopes of Fed easing rate hikes
Source: Reuters
27/10/2022 12:48:46 PM
Bank of Canada increases policy interest rate The Bank of Canada has increased its benchmark interest rate by 50 basis points to 3.75 percent. Given elevated inflation and inflation expectations, as well as ongoing demand pressures in the economy, the bank's governing council expected that the policy interest rate will need to rise further, the central bank said in a statement issued on Wednesday. In the last three months, Canada's CPI inflation has declined from 8.1 per cent to 6.9 per cent, primarily due to a fall in fuel...
Bank of Canada increases policy interest rate
Bank of Canada increases policy interest rate
Source: IANS
27/10/2022 10:57:46 AM
Rupee jumps as dollar tumbles on bets of less hawkish Fed The Indian rupee strengthened on Thursday, taking heart from the dollar index's plunge overnight on growing views that softer U.S. economic data may prompt the Federal Reserve to slow the pace of its rate hikes. Coming off a domestic market holiday on Wednesday, the rupee climbed 0.5% to 82.3125 per dollar by 0435 GMT, outperforming its Asian counterparts, but pulling back from it own high of 82.14 in early trade. "The rupee has opened up but the rally may not sustain", sa...
Rupee jumps as dollar tumbles on bets of less hawkish Fed
Rupee jumps as dollar tumbles on bets of less hawkish Fed
Source: Reuters
27/10/2022 8:55:53 AM
Bank of Canada increases policy interest rate by 50 basis points The Bank of Canada announced that it has increased its benchmark interest rate by 50 basis points to 1.5 per cent and is also continuing its policy of quantitative tightening (QT). In a statement on Wednesday, the central bank said that the consumer price index in Canada reached 6.8 per cent for the month of April, which is well above its forecast and will likely move even higher in the near term before beginning to ease, reports Xinhua news agency. Canadian economic activity is strong ...
Bank of Canada increases policy interest rate by 50 basis points
Bank of Canada increases policy interest rate by 50 basis points
Source: IANS
2/06/2022 12:15:54 PM
Canadian consumer expectations for inflation reach record high levels: Survey The Bank of Canada has revealed the result of the first-quarter survey, indicating that Canadian consumer expectations for one year and two years from now continued to increase and reached record high levels. According to the online survey conducted by the central bank on Monday, one-year-ahead inflation rate expectations reached 5.07 per cent and two-year-ahead inflation rate expectations 4.62 per cent, Xinhua news agency reported. Survey respondents expressed the belief that three mai...
Canadian consumer expectations for inflation reach record high levels: Survey
Canadian consumer expectations for inflation reach record high levels: Survey
Source: IANS
5/04/2022 9:28:13 AM