Month: November 2020

USD/CAD lost its traction after recovering to 1.3030. US Dollar Index fell below 92.00 after mixed macroeconomic data releases. WTI trades at fresh multi-month highs near $46. The USD/CAD pair rose to 1.3030 in the early American session but lost its traction pressured by the renewed USD weakness and rising crude oil prices. As of
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AUD/USD sideways around 0.7350, consolidating at 12-week highs. Aussie’s rally loses steam as risk appetite falters. The Australian dollar looks ready to break 0.7400 – UOB. Australian dollar’s pullback from intra-ay highs at 0.7375 seen on Wednesday’s early trading has been contained at 0.7325, before bouncing up to 0.7360 area. At the moment of writing, the
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USD/JPY is posting modest daily losses on Wednesday. 10-year US Treasury bond yield is down more than 1%. US Dollar Index stays near 92.00 ahead of FOMC Minutes. The USD/JPY pair stayed relatively quiet around 104.50 for the majority of the day and edged modestly lower during the American trading hours. As of writing, the
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Minutes of the FOMC’s November 4-5 meeting showed on Wednesday that policymakers judged immediate adjustments to the pace and composition of asset purchases were not necessary. However, policymakers further noted that circumstances could shift to warrant such adjustments. Market reaction The US Dollar Index showed no immediate reaction to the FOMC Minutes and was last seen losing
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By Julian LeeAll is not well in the house of OPEC. As the cartel’s oil ministers prepare to meet in just over a week to decide on the next step in their record-breaking output deal, officials in the United Arab Emirates, normally a loyal Saudi ally, are privately questioning the benefits of participating, and may
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As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327 contracts to 133 960. NET SHORT
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Airbnb on Monday released its prospectus to debut on public markets. The company allows users to book short-term rentals and experiences while traveling. The company made $219 million in net income on revenues of $1.34 billion last quarter. That was down nearly 19% from $1.65 billion in revenue a year prior. Despite primarily turning net losses, the
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The existing Comprehensive and Economic Trade Agreement (CETA) deal will be ‘rolled over’ as a short-term transitional agreement (small changes are being made to language to accommodate CAD-UK only trade as the original CETA was made when the UK part of the EU). the deal must be approved by both governments (Canada’s Parliament must approve new legislation)
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BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
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