Daily thread to exchange ideas and to share your thoughts December looks to be starting in the same fashion that November traded, as equities are running higher as the new month begins. The dollar and yen are slightly on the back foot as such, but key technical levels held up for the most part in trading yesterday
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NEW DELHI: Metal and energy counters traded mixed on MCX on Tuesday. At the same time, most agri commodities were trading with cuts after the government said India’s GDP print was better than expected. Gold was down 0.16 per cent while silver rose 0.97 per cent. Base metal counters were trading mixed with nickel and
Asian markets are generally mixed despite some solid data from Japan, China and New Zealand. Yen is lifted mildly by the relatively optimistic economic outlook. Sterling is also slightly firmer after UK Foreign Minister Dominic Raab indicated Brexit negotiations are “down to really two basic issues” only. Dollar, Canadian and Euro are the weaker ones.
We’re into the weeds now A EU senior diplomat cited by Reuters says the EU is to launch no-deal contingency plans if there is no trade deal with Britain by Wednesday or Thursday. Cable has taken that in stride. That they’re even talking about it isn’t a great sign but these deals never get done
Gold prices extended their slide to five month lows on Monday as prospects of a vaccine-led boost to the economy cast a shadow over safe-haven assets and set bullion on course for its worst month in four years. Spot gold dipped 1% to $1,770.56 per ounce by 1337 GMT, and was down 5.7% so far
Overall, the markets are relative quite today, in month end trading. Stocks are struggling in tight range, indifferent to news of Modern’s plan to see US and EU clearance for their vaccine. In the currency markets, Sterling is currently the strongest one, awaiting news on Brexit trade talks. Canadian is the next strongest, then Kiwi.
Latest data released by Destatis – 30 November 2020 On the month, consumer price inflation fell by 0.8% compared to October. Not the most encouraging of signs to start of the round of inflation data from German states today but we’ll see if the others follow a similarly softer trend later on. For bank trade
Gold slipped on Monday and was on track for its worst month in four years, as optimism over a coronavirus vaccine-led economic rebound that propelled equities to record highs dulled the metal’s safe-haven appeal. Spot gold fell 1.2% to $1,766.26 per ounce by 0301 GMT. Gold is down 5.9% so far this month, its biggest
After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since the last meeting suggested continued
The UK Times reports over the weekend that the Commission has begun to “lean on” EU negotiator Michel Barnier to get a trade deal with the UK. and that UK Prime Minister Johnson was expected to speak to EU Commission President Ursula von der Leyen in the next 48 hours to try to find common
VIENNA: The OPEC oil producers’ club and its allies will hold a virtual meeting on Monday and Tuesday to finalise an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand. The meeting comes as the oil industry hopes to turn a page on a disastrous year which saw the
So report the Financial Times, saying the drug regulator in the country is set to grant approval within days. (FT may be gated.) Deliveries of the vaccine developed by BioNTech and Pfizer would begin within hours of the authorisation first injections could take place from December 7. UK has ordered 40m doses of the two-shot product,
MOSCOW/DUBAI – A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Sunday – a day later than scheduled – prior to meetings planned for next week, a source with the knowledge of the matter told Reuters. The talks had initially been scheduled for Saturday, according to a
Vaccine optimism pushed global stocks higher last week, with Nikkei completing the most impressive rally. Commodity currencies ended generally higher as led by New Zealand Dollar. Yen and Dollar ended as the worst performing ones. Though, no key levels were taken out, except in NZD/USD and NZD/JPY. Dollar index is also holding on to an
Forex news for North American trading on October 27, 2020 The dollar slumped marginally in post-Turkey day hangover trading. There was no economic data, but stocks did rise with both the S&P and Nasdaq index closing higher and a record levels (flow out of the safety of the greenback?). Hopes for Covid vaccines may also
Gold slumped 2%, breaking below the key $1,800 support level to a near five-month trough on Friday, as growing optimism about a quick vaccine-fuelled economic recovery and a smooth White House transition powered share market to fresh records. Spot gold slid 1.4% to $1,785.11 per ounce by 11:43 a.m EDT (1643 GMT), earlier falling to
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -1.07 mmb to 1353.84 mmb in the week ended November 20. Crude oil inventory dropped -0.75 mmb (consensus: +0.13 mmb) to 488.72 mmb. Stockpile decreased in 4 out of 5 PADDs. However, PADD1 (Gulf
The highlighted events and economic releases for next week’s trading: The RBA rate decision, Fed’s Powell testimony and the US employment report highlight the events and economic releases in the new trading week. Monday: China Manufacturing PMI. 8 PM ET Sunday/0100 GMT. Estimate 51.7 vs 51.4 last OPEC meeting all day Chicago PMI. 9:45 AM