Silver shines today, rising 5%. Is this just the beginning? The squeeze in GME is one for the record books but 40 years ago, one of the all-time great market corners led to a legendary squeeze that most WallStreetBets users have never heard about. It was executed perfectly by the Hunt brothers who were the
News
Oil steadied on Thursday after early declines fuelled by delays to vaccine rollouts and fresh travel curbs to prevent new coronavirus outbreaks. Brent crude futures were up 8 cents, or 0.1%, at $55.89 a barrel by 1331 GMT, having hit a session low of $55.31. U.S. West Texas Intermediate (WTI) crude futures were down 8
Overall, the financial markets are mixed as investor sentiment stabilized. European indices are already reversing initial losses while US futures point to higher open. Commodity currencies are staying generally weak. But buying focus is turning away from Dollar and Yen, to Euro. At the time of writing, the common currency is already the best performing
Daily thread to exchange ideas and to share your thoughts The dollar is keeping slightly firmer ahead of European trading as it looks past the Fed sticking with plans to keep policy unchanged for quite some time yet. Risk aversion is the key theme driving the market to wrap up January trading and that looks set to
By Ravindra Rao MCX Gold February futures witnessed decline towards the lower band of the consolidation range of Rs 48,600-49,700. Meanwhile, key support for Feb future exists around Rs 48,450, where 200 DEMA coincides with the 78.6% Fibonacci retracement of the recent up move. On the upside, immediate resistance exists around Rs 49,100 (5 day
The sharp turn in risk sentiments overnight pushed “safe-haven” currencies generally higher. Among them, Dollar is currently outperforming both Swiss Franc and Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. Euro and Sterling are mixed, with the Pound having a slight upper hand. Technically, the movements are mainly centered around
These moves are insane This is one of the greatest sideshows in market history. It looked overnight like Melvin Capital admitting defeat would be the top but it just spiked more than $100 in a very quick move. The high is now $385. Two thoughts: 1) I’m not sure Melvin Capital has truly covered I’m
Gold in the national capital declined Rs 231 to Rs 48,421 per 10 gram on Wednesday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,652 per 10 gram. Silver also dipped Rs 256 to Rs 65,614 per kilogram from Rs 65,870 per kilogram in the previous trade. The
Dollar, Yen and Swiss Franc strength again today, as dragged down by the decline in European stocks. DOW future is also losing -300pts at the time of writing. Sentiments are slightly weighed down by UK’s plan to impose tougher border measures. Germany slashed this year’s growth forecasts. Commodity currencies turned softer, following overall risk sentiments.
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
LONDON: Oil prices were stable on Tuesday as concerns that a U.S. stimulus package might hit snags and rising coronavirus cases countered bullish signals from better compliance with a supply cut deal and ongoing vaccine efforts. Brent crude was up 15 cents, or 0.3%, at $56.03 by 0930 GMT, while U.S. crude rose 11 cents,
Crude oil prices consolidate narrowly around 11-month high. After rebounding about 20% from the March low, upside momentum appears fading. Traders are increasingly concerned about the demand outlook which could be hurt by resurgence in coronavirus cases in China. The Chinese government reported 793 new cases last week, compared with below 300 two weeks ago.
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
LONDON: Copper fell for a fourth day on Tuesday as the slow progress of U.S. stimulus measures, a stronger dollar and concerns about demand from top consumer China sucked momentum from a rally that lifted prices to eight-year highs earlier this month. China, whose copper consumption has driven the rally, is gearing up for a
European stocks are trading generally higher today but no equivalent strength is see in the US pre-markets. Investors seemed to be lifted by news that EU, with backing from Germany, is going to introduce restrictions on COVID-19 vaccines over sudden supply cuts by AstraZeneca and Pfizer. There is little reaction to resignation of Italian Prime
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
Oil prices held steady on Monday, pressured by falling stock indexes, but optimism around U.S. stimulus plans and some supply concerns buoyed futures. Brent crude futures remained unchanged at $55.41 a barrel by 11:21 a.m. EST (1621 GMT). U.S. West Texas Intermediate crude fell 13 cents to $52.14 a barrel. Major U.S. stock indexes fell,
As European stocks turned south after initial trading, US futures also also dragged down. Overall market sentiments turned mixed after a bright start in Asia. Dollar is recovering mildly but commodity currencies remain the strongest one so far, as led by New Zealand Dollar. There is apparently some pressure on European majors after German Ifo