NEW YORK: Oil prices rose about 2% on Thursday on indications that OPEC+ producers could increase output more slowly than expected in coming months, while rising global fuel demand would continue to tighten supply. Brent crude was up $1.23, or 1.7%, to $75.85 a barrel by 12:38 p.m. EDT (1638 GMT). U.S. West Texas Intermediate
Month: July 2021
Dollar surges sharply against Yen today and maintains gain after better than expected job data. Though, the greenback is retreating mildly against other major currencies, as traders are probably lightening up their positions first ahead of tomorrow’s non-farm payrolls. Comments from ECB and BoE officials gave Euro and Sterling some support. But they’re not enough
U.S. Treasury Secretary Janet Yellen speaks during a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021. Justin Tallis | Reuters WASHINGTON – Treasury Secretary Janet Yellen announced Thursday that a group of 130 nations has agreed to a global minimum tax on corporations. If widely
In this article GM Brand new Chevrolet cars are displayed on the sales lot at Stewart Chevrolet on May 14, 2021 in Colma, California. Justin Sullivan | Getty Images DETROIT – General Motors’ U.S. vehicle sales during the second quarter were slightly lower than analyst expectations as an ongoing shortage of semiconductor chips impacted vehicle
The markets are now in wait and see mode for the NFP. NZD/USD sits near the lows as it consolidated another bid in the greenback. NZD/USD is down some 0.2% in the early stages of Friday in Asia as traders walk in with US Nonfarm Payrolls slated for the US session. At the time of
The pound not getting any love as BOE governor Bailey plays down persistent inflation pressures Invest in yourself. See our forex education hub. Cable got a decent bounce off 1.3800 yesterday amid dollar strength, moving back up to 1.3830 levels, but that is quickly fading at the moment in a drop to 1.3794. While the
Latest data released by Markit – 1 July 2021 The preliminary report can be found here. A slightly lower revision but this is still a very solid reading, with output, new orders, and employment conditions continuing to hold among the best seen throughout the survey’s history. That said, much like the euro area’s readings earlier,
Twitter CEO Jack Dorsey has again rejected the idea of him buying into Ether (ETH) despite the social media platform’s activities with Ethereum-based nonfungible tokens (NFTs). On Wednesday, the social media platform announced a giveaway through Rarible, a major NFT platform utilizing the Ethereum blockchain network for minting digital collectible tokens. But despite Twitter releasing
NEW DELHI: Gold prices edged lower on Thursday in global markets as the dollar hovered near a three-month peak, with investors looking ahead to a key US jobs report due later this week. However, the yellow metal gained in domestic markets as the government slashed the base import price of the precious metal. US private
Dollar’s rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss Franc are currently the weakest for
A “For Sale” sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to
The policymakers of the European Central Bank will hold a special meeting in Frankfurt next week to reach a decision on a new definition of price stability, as a part of the institution’s strategy review, Bloomberg reports, citing David Marsh, Chairman of the Official Monetary and Financial Institutions Forum. Key takeaways “The meeting is expected to start
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