Crude oil paused its recent fall, and was able to recover slightly. Oil found some ground after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations. But were headed for their biggest weekly falls since December as a banking crisis rocked global financial and oil
It was a worst day for the market yesterday as unease over Credit Suisse spooked the world financial and commodity market. Crude oil prices plunged 8.62% to their lowest in more than a year. U.S. crude West Texas Intermediate benchmark fell around 5% for a second day in row, to
Dollar index dipped significantly yesterday as markets bet the Federal Reserve will be less aggressive in raising interest rates to curb inflation after U.S. authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank. President Joe Biden said the administration’s swift actions on Sunday to
U.S. inflation data will be a key factor to watch, as markets are already under pressure from worries over the Federal Reserve’s campaign to tame inflation. Further, jitters of fallout from the biggest bank failure since the 2008 financial crisis, US economic numbers will have a significant impact on the
Indian Rupee settled with a minor loss- CPI, WPI will drag volatility next week The Indian rupee had a neutral trade last week, and settled with a minor loss against the dollar. The rupee reached this week’s low of 81.62 on the back of comments by U.S. Federal Reserve
The dollar sparked more than 1% against a basket of currencies on Tuesday. It jumped above 105 after Federal Reserve Chair Jerome Powell said that the U.S. central bank will stay the course until the job is done, adding that the ultimate level of interest rates is likely to be
The Euro plunged nearly 1% against the dollar yesterday. which was the biggest intraday fall since 3 February 2023, and the pair traded 1.0565 yesterday. Currency came under pressure after the dollar sparked above 105 its highest level after 27 February 2023. After FOMC Chairman Jerome Powell said that they
U.S. dollar slipped from a two month high, and settled down by 0.70%. That is the biggest weekly loss since mid January 2023 against a basket of six major currencies. As traders stepped back to gauge the path for Federal Reserve policy. The dollar index, which measures the greenback’s value
Crude oil prices had a neutral to slightly lower trade today. Since Monday prices have remained somewhat positive. It recovered from the low of 6627 and inched higher towards morning high of 6484. The renewed optimism on China’s demand recovery overrode recession worries over growing U.S. crude inventories and tightening
Today, Euro zone inflation numbers will bring clutter for the entire market. The upcoming meeting in mid March is almost certain, what happens beyond then is still up for debate. Hence, preliminary data on Euro zone inflation will be closely watched. With inflation still well above the ECB’s 2% target,
