Dollar’s selloff continues today despite stronger than expected employment data. Though, selling focus has turned to against Euro and Swiss Franc. Australian Dollar is taking a breather, together with global stock markets. There is no doubt that Dollar will end as the worst performing one for the week, followed by Yen. Commodity currencies will stay
Month: November 2020
Volunteers hand out potatoes in Auburn, Washington on May 7, 2020. JASON REDMOND | AFP | Getty Images That’s a big jump from the prior month, when 19% of the unemployed were out of work for at least six months. The number of long-term unemployed swelled by 1.2 million people in a month, to 3.6
Peloton on Thursday reported quarterly sales growth of 232%, exceeding the company’s expectations, as consumers turned to its bikes and treadmills to work out and stream live classes from home during the coronavirus pandemic. The bike maker raised its revenue outlook for fiscal 2021, and now expects to report $3.9 billion or more in total
XAU/USD rallies 4% on the week to reach $1,960 highs. Risk appetite boosts gold demand and sends the USD tumbling. Gold futures have ticked higher on Friday to reach seven-week highs at $1,960. Bullion has appreciated nearly 4% on the week boosted by USD weakness amid post-US election risk rally. XAU/USD rallies on risk appetite
The USD is mixed ahead of the US employment report The CHF is the strongest and the AUD is the weakest as the NA session begins. The USD is mixed ahead of the US jobs report which is expected to show a gain of 593K. That has trended a bit lower after the ADP jobs
Forex news from the European trading session – 6 November 2020 Headlines: Markets: CHF leads, AUD lags on the day European equities lower; E-minis down 0.7% US 10-year yields up 1.2 bps to 0.775% Gold up 0.1% to $1,952.24 WTI down 3.2% to $37.55 Bitcoin up 1.0% to $15,387 The everything-rally pauses to catch its
NEW DELHI: Gold and silver future traded mixed in morning trade on Friday as vote counting in the US showed Joseph Biden is most likely to be the President of the country even though the outcome may be challenged in the courts. Biden inched closer to winning the White House, though the outcome hinged on
Dollar’s decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest one, followed by other commodity currencies. FOMC meeting overnight prompted little reaction. Traders are awaiting
Economists mostly expect job growth slowed in October, as the pace of rehirings dropped off and layoffs increased. Job growth was expected to total 530,000 in October, and the unemployment rate is expected to fall to 7.7%, according to Dow Jones. That number includes about a 150,000 decline in public sector jobs from the end
A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters CVS Health reported a better-than-expected 3.5% jump in third-quarter revenue and raised its 2020 earnings guidance on Friday as its plan to remake the drugstore chain into a health service company paid off. Offering everything
EUR/USD needs to break above 1.1881 in order to see a base established to mark an end to its consolidation from September for a resumption of its core bull trend for a move back to the 1.2011 high, per Credit Suisse. Key quotes “With the USD itself breaking already breaking lower from its range to
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The trustee of the controversial failed cryptocurrency exchange QuadrigaCX, Ernst & Young (EY), has revealed that it only has roughly $29.8 million in funds to distribute to claimants, despite receiving $171 million worth of claims. In a Nov. 6 update filed with the Ontario Superior Court of Justice, EY revealed it has received 17,053 claims
Dow, S&P and NASDAQ on track for the best week since April The major stock indices closed sharply higher for the 4th consecutive day. The Dow, S&P and NASDAQ on track for the best week since April: 10 of the 11 sectors of the S&P closed higher with energy dipping into the negative at the
Twitter have castigated Trump for 9 tweets since the election, labelling them as misleading. Donald Trump receives special treatment from Twitter Twitter’s policy is not ban leaders while in office But if Trump loses this election he loses that special treatment If then he transgresses his tweets could be removed entirely, and if there are
By Ravindra RaoKotak Securities Gold MCX gold price has been hovering in the Rs 51,800-51,100 channel with flattened Bollinger Bands indicating a sideways trend. The immediate resistance is at Rs 51,450 followed by Rs 51,800 mark, while support is around Rs 50,720 (Bollinger middle band ) followed by Rs 50,300. The relative strength index, or
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