Forex news from the European trading session – 8 January 2021 Headlines: Markets: AUD leads, EUR lags on the day European equities higher; E-minis up 0.4% US 10-year yields flat at 1.083% Gold down 1.2% to $1,890.34 WTI up 1.2% to $51.44 Bitcoin up 4.6% to $41,590 It was a largely quiet session as major
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Crude oil prices rose by Rs 20 to Rs 3,758 per barrel on Friday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 20, or 0.54 per cent, at Rs 3,758 per barrel in 2,582 lots. Analysts said raising of bets
Asian markets are staying in full risk on mode, except China, following the record runs in US overnight. However, this time, Dollar is not facing much selling pressure, but recovered instead. The reflation trade and strong rally in treasury yield might finally start to give the greenback a floor. Still, Dollar will need to face
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
Gold eased on Thursday on a stronger dollar and higher U.S. Treasury yields, but prospects of more fiscal stimulus under a Democrat-led administration in Washington capped losses. Spot gold was down 0.3% to $1,912.86 per ounce by 10:39 a.m. EST (1539 GMT). U.S. gold futures were up 0.3% at $1,913.90. Prices slipped as much as
Dollar extends recovery in European but there appears to be no follow through buying so far. It remains one of the weakest for the week, together with Yen and Sterling. Australian and New Zealand Dollars are paring some of this week’s gains too. The US Senate and House certified President-elect Joe Biden’s victory in the
Latest data released by Markit/CIPS – 7 January 2021 The UK construction sector continues its recovery towards the end of last year, with house building carrying the bulk of the weight once again. Output expansion maintained for a seventh straight month while employment conditions returned to growth last month. Markit notes that: “December data illustrated
Crude oil prices rose Rs 18 to Rs 3,739 per barrel on Thursday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the January delivery traded higher by Rs 18, or 0.48 per cent, at Rs 3,739 per barrel in 2,523 lots. Analysts said raising of
Dollar is recovering mildly today but remains one of the weakest for the week, together with Yen and Sterling. Solid risk appetite, with DOW closing strongly at new record overnight, is keeping the greenback and Yen pressured. Yen appears to be slightly weaker with the sharp rally in treasury yield. The Pound, on the other
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 extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week. Brent crude rose 85 cents, or 1.6%, to $54.45 a barrel at 1050 GMT, its highest level since Feb. 26, 2020, after
Yen selling takes center stage today, following strong rise in global treasury yields. In particular, US 10-year yield is trading at 0.99 at the time of writing, after hitting 1.037 earlier. Dollar remains generally pressured, and even the recovery against Yen is weak. The surprised contraction in ADP employment is definitely not giving the greenback
Latest data released by Markit/CIPS – 6 January 2021 Composite PMI 50.4 vs 50.7 prelim The preliminary report can be found here. A slight downwards revision as services activity is seen declining for a second month in a row, albeit marginally. That said, the data here doesn’t hold much significance as Q1 economic prospects have
NEW DELHI: Gold and silver futures prices in the domestic market traded with cuts on Wednesday amid uncertainty around elections in Georgia, which will decide how easy it will be for US President elect Joseph Biden to take decisions during his presidency. Polls closed in Georgia’s dual runoff elections that will determine both control of
The global reflation theme of 2021 should continue to support AUDUSD. With the cash rate at the effective lower bound, RBA also extended asset purchases worth of AUD100B until mid-2021. Yet, it appears that there is little the central bank can do to curb the currency strength. Risks from trade frictions with China are limited
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
Saudi Arabia has offered to make voluntary cuts in its oil output in February in a bid to persuade fellow OPEC+ producers to hold steady amid concerns that new coronavirus lockdowns will hit demand. Two OPEC sources said Saudi Arabia made the offer on Tuesday at a meeting of OPEC+, which combines OPEC producers and
Dollar weakens again in rather quiet markets today. But there is no committed selling so far, as the greenback is staying inside yesterday’s range. European majors also soften, on lockdown concerns, and shrug of solid German economic data. Commodity currencies are stronger in general, even though risk markets are rather sluggish. US futures are pointing