KOLKATA: After months of depressed sales due to the lockdown, India’s gold jewellery trade is showing early signs of recovery, with the metal’s restocking reducing the discount by a quarter to $30 per ounce toward the latter half of the week. Bullion dealers were offering a discount of $40 per ounce over the official domestic
Month: September 2020
ECB is expected to maintain the monetary policy measures in September. The focuses on the meeting include policymakers’ response to the recent strength in euro, the updated economic projections and ECB’s strategy review after Fed Chair Jerome Powell’s announcement at the Jackson Hole symposium. While euro’s appreciation over the past months could be a drag
With seasonally adjusted initial jobless claims totaling 881,000 last week, millions of Americans are still in need of financial assistance from the federal government. Congressional Democrats and the Trump administration are deadlocked, leaving Americans unsure if more help will arrive soon. Less than a month ago, President Donald Trump tried to do it on his own
While the crypto space has seen tremendous growth over the past decade, the asset class still holds a tiny amount of value compared to mainstream markets, especially when pitted against giants such as Apple. Apple stock (AAPL) holds a staggering $2 trillion market cap, dwarfing all the speculative capital held within the entire crypto space,
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The FXTrader combines quotes from 14 of the world’s largest interbank dealers and offers TWS users a dedicated and highly configurable forex trading resource. In this short video you will learn about the features of TWS FXTrader and its configuration process to help streamline your currency trading experience. Visit IBKR Traders’ Academy: https://gdcdyn.interactivebrokers.com/en/index.php?f=25243
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S&P and NASDAQ break 5 week win streak It was a wild up and down trading day for the major US stock indices. At the end of the day the major indices all fell. For the week they also declined. The NASDAQ index was the weakest today and also for the week. Some highlights for
AUD/USD trades 0.30% higher after a couple of tough sessions. The price has found some support after the NFP data. AUD/USD Price Analysis AUD/USD has pushed higher today while some of the other majors struggled. Most of the majors have recovered after the USD gained some short term strength following the US non-farm payroll data. Both
Nothing has been more impressive than the Mexican peso this week If an asset can rally in a risk-positive and risk-negative environment, it’s probably poised for more. Nothing embodies that better than the Mexican peso this week. It rose as the US dollar weakened in the equity market euphoria and it powered through the strength
NEW YORK: Oil prices fell nearly 3% on Friday, headed for their biggest weekly decline since June as concern around a slow economic recovery from the COVID-19 pandemic added to worries about weak oil demand. Brent crude, the international benchmark, dropped $1.08, or 2.5%, to $42.99 a barrel, by 10:53 a.m. EDT (1453 GMT). US
Dollar rises against European majors an Yen as headline non-farm payrolls number came in not far from expectation. Encouragingly, unemployment rate dropped notably while participation rate also rose. Wage growth also some what picked up. DOW future also point to a mildly higher open. The greenback is set to end as the strongest one for
Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department figures released Friday. An alternative measure that includes
EUR/USD sits little changed in a 24 pips range so far today For bank trade ideas, check out eFX Plus Although stocks have reversed course in the opening hour of European cash trading, major currencies continue to sit tight in a pre-NFP lull for the most part so far today. EUR/USD is looking tepid, ranging
WTI benefits from the risk-on action in European equities. Concerns over weakening fuel demand could cap the upside. Corrective bounce to extend ahead of US NFP, rigs data? WTI (futures on Nymex) has caught a fresh bid-wave in the European session, extending the rebound from monthly lows of $40.23. Following a brief consolidative stint in
Trading 101 Understanding the USD centric nature of the FX markets is a key concept to get down early in your trading experience. The latest moves in the major pairs (over the last few weeks) have mainly been dollar driven. Namely a weaker dollar on the huge stimulus measures out of the US and the
NEW DELHI: Gold and silver prices rose in Friday’s early trade, tracking the global trends in precious metals. Meanwhile, India continued to report the highest number of daily cases in the world which also lifted bullion’s appeal. The head of the Chicago Federal Reserve on Thursday called on Congress to deliver more fiscal aid and
Asian markets are generally in red following the steep corrective selloff in the US overnight. The forex markets are relatively steady though, with Dollar and Yen trading with a firm tone. Australian and New Zealand Dollars are the weakest ones, followed by Sterling. Over the week, Dollar is set to end as the strongest one,