Silver futures traded lower by Rs 1,136 at Rs 67,429 per kg on Thursday, as participants cut down their bets on a weak demand in the spot market. On the Multi Commodity Exchange, silver contracts for the March delivery dropped by Rs 1,136, or 1.66 per cent, to Rs 67,429 per kg in a business
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Sterling softens notably today as focus turns to BoE rate decision, and more importantly the stance regarding negative interest rates. Euro and Swiss Franc remain generally weak too. New Zealand and Canadian Dollars are paring some gains as risk markets turned mixed again. But Aussie is somewhat bucking the trend with a rebound. Dollar buying
Hedge fund made $700 million on GameStop (pro-tip: this is what HFs are supposed to do) Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Senvest Management began buying stock in GME in September 2020, not getting caught up in the short-selling mania in the company. Their work included: speaking with
Silver rose more than 2% on Wednesday on bets for a pick-up in industrial demand, regaining some ground following a sharp retreat from a near eight-year peak scaled with the help of a social media-inspired buying frenzy. Spot silver was up 1% at $26.87 per ounce at 11:02 a.m. EST (1602 GMT). It fell more
Economic data released today are largely ignored so far. Euro’s weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected ADP employment. New Zealand Dollar continues to trade as the strongest one, taking the Aussie
Forex news from the European trading session – 3 February 2021 Headlines: Markets: AUD and NZD lead, GBP lags on the day European equities higher; E-minis up 0.3% US 10-year yields up 1.7 bps to 1.113% Gold flat at $1,837.65 WTI up 0.8% to $55.18 Bitcoin up 1.5% to $36,235 The market was more cautiously
Canadian and New Zealand Dollar are both in the driving seats in the markets this week. Return of risk appetite is providing the base for rally. Meanwhile, Kiwi is lifted by stronger than expected job data while Loonie follows oil prices higher. Aussie is lagging behind on RBA, however. Euro and Swiss Franc continue to
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Silver slumped 8% on Tuesday as small investors turned their focus away from the metal, hastening a retreat fueled in part by a margin hike by the Chicago Mercantile following a rally to a near eight-year peak the previous session. Spot silver fell 7.5% to $26.82 an ounce by 10:32 a.m. EST (1532 GMT). On
Canadian Dollar is currently trading as the strongest one for today, following the upside breakout in oil price. The resilient Sterling is following as second strongest, awaiting BoE to rule out negative interest rates later in the week. On the other hand, Australian Dollar is the worst performing, after RBA pulled ahead of announcement of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Silver prices dropped more than 4% on Tuesday, halting a rally to near 8-year highs in the previous session that was the latest move in two weeks of turmoil on financial markets fuelled by a pack of Reddit-centred individual investors. Spot silver prices were down 4.2% at $27.77 an ounce as of 0730 GMT, retreating
RBA announced to extend the asset purchase program by an additional AUD100B as the current program ends in mid- April. Meanwhile, it has turned more upbeat about the global and domestic economic outlook, and upgraded GDP and employment forecasts. RBA turns more upbeat over the global and domestic economic outlook. Globally, it indicated the economy
Forex news for New York trade on February 1, 2021: Markets: Gold up $14 to $1862 WTI crude up $1.30 to $53.49 US 10-year yields flat at 1.07% S&P 500 up 60 points to 3773 USD leads, CHF lags The FX and equity worlds were not on the same page today, which is undoubtedly a
The price of silver is rallying as the online trading movement fuelling the rise of unloved shares like GameStop took a shine to the precious metal. Silver futures jumped 11% on Monday to about $30 per ounce – an eight-year high – following strong gains over the weekend. On Twitter, #silversqueeze was trending as investors
Swiss Franc’s selloff is a major focus in the forex markets today, in particular, as it breaks through a key support level against Sterling. The development somewhat drags down the Euro too. The Pound and Dollar are currently the stronger ones while commodity currencies are mixed. Stock markets are stabilizing with rebounds from Asia to
Latest data released by Markit – 1 February 2021 The preliminary report can be found here. A positive revision to the initial estimate but the reading still marks a three-month low as virus restrictions and supply-chain disruptions impact manufacturing activity to start the new year. Markit notes that: For bank trade ideas, check out eFX
Nirmala Sitharaman proposed to cut import duty on gold while presenting the Union Budget 2021 on Monday. On the other hand, shares of jewellers surged. Sithraman proposed to cut duty on gold and silver to 7.5 per cent from 12.5 per cent, meeting industry demand. However, she also proposed Agriculture infrastructure and development cess at