The US jobs report today may not have any overbearing consequences but it should still reflect sentiment for the most part You can’t really blame anyone for forgetting or ignoring today’s non-farm payrolls report. Amid Brexit headlines and US stimulus talk, as well as the ongoing battle between the virus situation and vaccine optimism, it
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Guar gum prices on Friday traded flat at Rs 5,745 per five quintal in futures trade. On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded flat at Rs 5,745 per five quintal with an open interest of 18,485 lots. The contracts for delivery in January traded higher by Rs 7,
Canadian Dollar is trading generally higher in Asian session, with support from upside break out in oil prices. But Aussie and Kiwi are soft. Dollar is taking a breather in Asian session after yesterday’s selloff, as focus turns to non-farm payrolls report. For the week, Dollar and Yen remain the worst performing ones. European majors
ANZ look for lower USD/CNH and, more generally, are bullish on Asian currencies for 2021 and it is not just because of a weaker dollar, though it helps. There are three key drivers … a winning trifecta that will see Asian currencies appreciate further next year: 1. the region’s relative success in virus containment. This
Oil prices were steady on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place during the first wave of the COVID-19 pandemic. Brent crude was up 4 cents, or less than 1%, at $48.29 a barrel by 1337 GMT, and U.S. oil was
Dollar’s selloff accelerates today and better than expected jobless claim data provide no support. European majors are generally firm, with Sterling leading the way this time. But the rally in the Pound is unconvincing so far, with uncertainties over Brexit trade talks. Commodity currencies are relatively mixed, with Canadian Dollar being the weakest. Technically, focus
Latest data released by Markit/CIPS – 3 December 2020 Composite PMI 49.0 vs 47.4 prelim The preliminary report can be found here. That’s a modest revision in the final reading but it still affirms that business activity is experiencing a renewed downturn upon the return of lockdown measures last month. The drop in services output
NEW DELHI: The Indian Energy Exchange on Thursday said its arm, Indian Gas Exchange (IGX), has secured authorization from the Petroleum and Natural Gas Regulatory Board (PNGRB) to operate as a Gas Exchange. IGX is India’s first automated delivery-based gas trading platform. IGX has secured the necessary authorization to operate as a Gas Exchange as
Yen trades generally lower today as pressured by surging US treasury yields and mild risk-on sentiments. Dollar and commodity currencies are not too far behind. European majors continue to be strong as led by Euro and Swiss Franc. Sterling is not performing too badly against others as traders are not committing to bet on no-deal
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Gold rose to an over one-week high on Wednesday on a soft dollar, while signs of progress in discussions over a new U.S. coronavirus relief package bolstered bullion’s appeal as a hedge against possible inflation. Top Senate Republican Mitch McConnell urged the U.S. Congress to pass a $1.4 trillion spending bill including coronavirus stimulus, while
Selloff in Sterling is the main theme for today. UK become the first country to approve Pfizer-BioNTech coronavirus vaccine and shots are due next week. But the good news was overshadowed by Brexit uncertainties. As the negotiation deadline looms it’s reported that EU is insisting not rushing to a bad deal. Indeed, it’s also said that
UK approves use of Pfizer-BioNTech vaccine, to be made available across the country starting from next week The decision here has been on the cards for the past few days but it is finally confirmed, with Pfizer also reminding the market that it is also almost certainly going to be gaining approval from the US
SINGAPORE, Dec 2 (Reuters) – Oil prices fell early on Wednesday but later pared some of the losses on news that Britain has become the first country in the world to approve a vaccine for use and that it will be rolled out from early next week. Prices had been hit earlier by a surprise
Dollar and Yen were solid off broadly overnight as S&P 500 and NASDAQ extended record runs. More importantly, the greenback has finally broke through a key support level against Euro, confirming down trend resumption. European majors are currently the strongest ones as led by the common currency. Australian Dollar is clearly lagging behind despite stronger
And a heads up for NZD traders, following Lowe from the RBA today will be RBNZ Governor Orr speaking later, from 0630GMT. The speech title is: The COVID pandemic: challenges and opportunities facing central banks 2145 GMT New Zealand Terms of Trade for Q3 expected -3.8%, prior 2.5% q/q 2300 GMT Reserve Bank of Australia
Gold jumped over 2% on Tuesday, rebounding from a five-month low in the previous session, and silver soared nearly 5% as the dollar fell and as U.S. stimulus bets due to mounting COVID-19 cases eclipsed the optimism around a vaccine-led economic recovery. Spot gold climbed 1.8% to $1,809.01 per ounce by 10:34 a.m. EST (1534
Yen and Dollar are generally softer today as markets open December on firm footing. Australia Dollar is following as third weakest as diplomatic tension with China worsens. On the other hand, Euro is leading Swiss Franc higher. Manufacturing data from China and UK indicate sustainable recovery for now, while Eurozone PMIs were not too disastrous.