Following the weakness of the U.S. dollar in the international market, the rupee increased 21 paise to end the day at 81.74 (provisional) against the U.S. dollar. Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit began trading at 82 against the U.S. dollar…
As softer U.S. economic statistics and an increase in petrol inventories stoked worries about a recession and slowing global oil demand, oil prices dropped on Friday, extending losses from the two prior days and aiming for a weeklong decline. At the morning June Brent futures were down 14 cents, or 0.2%, at $80.96 per barrel….
On Thursday, as crude oil prices fell from high levels, the rupee strengthened 11 paise to settle at 82.14 (provisional). Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit gained 11 paise from its previous close to close at the interbank foreign exchange market,…
On Monday, the rupee lost 25 paise to close at 82.10 (provisional) against the US dollar as investor sentiment was dampened by a strong US dollar abroad and a downward trend in domestic markets.Firm crude oil prices, according to forex traders, also weighed down the local currency. The domestic currency at the interbank foreign exchange…
Pressured by a stronger dollar and higher Treasury yields, gold reversed direction and fell below the important $2,000 per ounce threshold as investors searched for clues as to whether the market will witness a “one and done” rate hike by the U.S. Federal Reserve in May. After climbing as high as 0.6 percent earlier in…
The rupee increased 18 paise to 81.93 against the US dollar in early trade on Thursday, reflecting the American currency’s widespread weakness in the foreign exchange market. Forex brokers claimed that foreign funds were also supporting the local currency. The dollar index, which measures how strong the dollar is relative to a basket of six…
Early trading on Wednesday showed little movement in oil prices as industry data revealed an unexpected increase in U.S. crude and petrol inventories, allaying concerns about a supply shortage prior to OPEC producers cutting their output. U.S. oil futures have shifted into backwardation, with the front-month contract trading 6 cents higher than the second month,…
Early on Wednesday in Asian trading, oil prices stabilized as industry data revealed a reduction in U.S. crude oil stocks. The market had fallen the previous session over concerns that more aggressive U.S. interest rate hikes would hurt demand. The price of a barrel of April Brent crude futures increased by 8 cents to $83.37….
On Friday, oil prices continued to rise as the likelihood of decreased Russian supplies partially offset rising US inventories. Around 0215 GMT, the price of Brent crude futures increased 61 cents, or 0.7%, to $82.82 per barrel. The price of a barrel of West Texas Intermediate crude futures (WTI) increased by 63 cents, or 0.8%….
Wednesday’s oil prices remained stable as traders awaited the U.S. Federal Reserve’s remarks in the wake of recent statistics suggesting the prospect of additional interest rate hikes, which may slow global economic growth and reduce fuel demand. After losing 1.2% on Tuesday, Brent crude futures for April delivery were up 2 cents at $83.07 per…
