Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil
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The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -10.16 mmb to 1354.91 mmb in the week ended November 13. Crude oil inventory gained +0.77 mmb (consensus: +1.65 mmb) to 489.48 mmb. Stockpile increased in 3 out of 5 PADDs. However, PADD5 (West
Forex news for New York trading on November 20, 2020: Markets: Gold up $4 to $1870 US 10-year yields down 0.5 bps to 0.82% WTI crude oil up 41-cents to $42.15 S&P 500 down 24 points to 3557 NZD leads, CAD lags The tone overnight was poor on the Fed-Treasury fight over emergency money, along
Gold was headed for a second weekly decline on Friday on growing optimism about COVID-19 vaccines, with the U.S. Treasury’s call to end emergency loan programmes also limiting bullion’s safe-haven appeal. Spot gold eased 0.1% at $1,866.38 per ounce by 1227 GMT and was down 1.2% for the week. U.S. gold futures were up 0.1%
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they’re generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news of vaccines, or the split between US treasury and Fed. The slow progress of Brexit
S&P 500 futures now down just 7 points or 0.2% on the day Meanwhile, Nasdaq futures are flat while Dow futures are down by about 0.3% amid a more quiet European morning session so far. The risk mood is less pessimistic than when we started the day, with European equities also posting modest gains now
Crude oil prices on Friday rose by Rs 15 to Rs 3,108 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for delivery in December traded higher by Rs 15, or 0.48 per cent, at Rs 3,108 per barrel in 3,041 lots. Analysts said raising of
Consolidation trading continues with US stocks closing mildly higher overnight while Asian markets are mixed. Gold also lost some downside momentum just ahead of 1850 key support level. In the forex markets, range trading continues in general with Aussie and Sterling gaining some grounds today. Yen and Canadian are the softer ones. Markets are still
Rising cases a catalyst for restart of negotiations Democratic Senator Chuck Schumer reveals that Mitch McConnell has agreed to restart talks: “Last night, they’ve agreed to sit down and the staffs are going to sit down today or tomorrow to try to begin to see if we can get a real good Covid relief bill,”
By John KempU.S. petroleum inventories are falling towards more normal levels as the glut earlier this year caused by volume warfare among OPEC+ members and the first wave of epidemic-driven lockdowns is gradually absorbed. Falling inventories are likely to herald a tighter production-consumption balance and a cyclical upswing in both spot prices and calendar spreads
Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and US futures. Australian Dollar is leading New Zealand Dollar lower. Still, there is no clear development in the
Gold holds some questions Gold has been tricky since the vaccine news from Pfizer and BioNtech was announced. Gold futures fell the most in one day for over 7 years. Now Moderna’s vaccine news sends a clear signal: The virus will most likely be under control next year. Where does that leave gold? A buy,
NEW DELHI: Gold and silver futures for December delivery fell on Thursday on reduced safe haven appeal, as hopes of a Covid vaccine outweighed concerns over a short-term lockdown globally. Gold futures on MCX were down 0.28 per cent at Rs 50,185 per 10 grams. Gold prices are off recent highs of Rs 56,379. Silver
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are growing on more new cases and
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Gold prices fell Rs 357 to Rs 50,253 per 10 gram in the national capital on Wednesday on rupee appreciation and muted demand by investors, according to HDFC Securities. The yellow metal had closed at Rs 50,610 per 10 gram in the previous trade. Silver prices also declined Rs 532 to Rs 62,639 per kilogram
Dollar and Euro are both trading mildly lower in a relatively subdued, consolidative markets today. Yen and Kiwi are, on the other the stronger ones. There is no clear sing of range breakout yet. Pfizer provided another piece of upbeat news on coronavirus vaccines. The final results from late-stage trial has completed with 95% effectiveness.
One for the notebook The S&P500 has had a very good end to November over the last 10 years. In the last decade the S&P500 has gained eight times out of the last ten times. Here is a run down on the detail. As well as a success rate of 80% the max drawdown for