Comments from the President: Administration will not put on a lockdown under any circumstances Economy is rebounding beyond any expectations Slaqui says he expects to have enough vaccine to immunize 20m Americans in Dec and 20m thereafter Slaqui: Two vaccines and two therapeutics may be granted emergency use authorization by year end This is a
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Mumbai: Two leading retail jewellers, each having over two dozen stores pan India, have posted 15-40% higher sales by value this Dhanteras, and one of them has even surpassed last year’s volume by 15%. Aditya Pethe, Director, Waman Hari Pethe Jewellers, attributes the 15% higher sales and hitting almost 90% of last year’s volume at
News of coronavirus vaccine readiness was the biggest market mover last week, solidifying near term risk-on sentiments. Subsequent price actions in major global indices were clearly corrective looking, setting the stage for further rally. Swiss Franc and Yen ended as the worst performing ones, followed by Canadian Dollar, which was dragged down by the pull
Forex news for North American trade on November 13, 2020: Markets: S&P 500 closes at record high, up 1.4% US 10-year yields down 1.3 bps to 0.896% Gold up $11 to $1887 WTI crude down 98-cents to $40.14 GBP leads, USD lags The general theme in New York trade was US dollar selling as the
The second day of pre-Diwali Dhanteras witnessed a tepid response from shoppers on Friday as gold and silver sales have likely to be fallen by up to 35 per cent year-on-year due to high prices and COVID-19 induced financial distress, although consumers moved to online buying to make most of the festival, jewellers said. The
Commodity currencies turn softer today, following pull back in stocks. On the other hand, Yen, Swiss Franc and Dollar are gaining some grounds. Euro and Sterling are mixed on the sideline. Over the week, Kiwi remains the strongest one, followed by Dollar and then Sterling. Swiss Franc and Yen are the weakest. Fed Chair Jerome
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Oil prices fell on Friday, pressured by fears about a slow recovery in the global economy and fuel demand due to rising coronavirus infections, but hopes for a vaccine kept the market on track for a second straight weekly gain. Brent crude was down 36 cents, or 0.83%, at $43.17 a barrel as of 1143
Yen appears to be trying to reverse the losses posted earlier this week, as helped by pull back in treasury yields. US 10-year yield is trading at around 0.88 a the time of writing, well below this week’s high at 0.975. German 10-year yield is also back pressing -0.55 handle. Still, Yen remains the second
Comments via ANZ commodity research/analysis (in brief from a much longer report): A COVID-19 vaccine could draw a line in the sand for the oil market. However, there are major hurdles to overcome before it can assume the worst is over. Weak demand will see a 2mb/d surplus in H1-21. This should see OPEC delay
Pre-Diwali Dhanteras sales of gold and silver kicked off on Thursday but overall business is likely to be a muted affair in view of sharp rise in prices and subdued demand due to the COVID-19 induced economic hardship, according to jewellers and industry experts. Although the buying sentiment has improved after the COVID-19 curbs were
The financial markets are staying in consolidative mode. Asian stocks are mixed in tight range, following the mixed closes in US overnight. Gold is trading sideway ahead of key near term support. In the currency markets, Yen and Swiss France are mildly higher, paring some of this week’s losses. Meanwhile, commodity currencies turned softer. The
Democratic leaders from the House and Senate to speak Nancy Pelosi and Chuck Schumer - Democratic leaders in the House and Senate - will hold a press conference at 10:15 AM ET. The election, stimulus are obvious topics. Pres. Trump has not conceded the race despite lack of meaningful evidence of a fraudulent election. There are, nevertheless,
The International Energy Agency (IEA) on Thursday cut its 2020 global oil demand forecast, citing a resurgence of the Covid-19 pandemic, with vaccines unlikely to have much of an impact until well into next year. The IEA said that as a result of fresh restrictions imposed by governments in an effort to curb the disease,
Sterling suffers notable selling today after slightly weaker than expected Q3 GDP data. Though, pull back against Euro could be a bigger driver for the profit-taking. Elsewhere, better than expected US job data and worse than expected Eurozone production data were generally ignored. For now, Aussie is following the Pound as the second weakest, then
A couple of comments out of National Australia Bank commodity research highlight two important factors for oil. 1. Vaccine progress: “It’s great news, no question about that … But it will take time for vaccines to be rolled out, and therefore it will take time for demand to be positively impacted by that” and 2.
Gold prices fell 1% on Wednesday hurt by a stronger dollar, while optimism around a potential COVID-19 vaccine raised hopes for a quick economic rebound, driving investors towards riskier assets. Spot gold was down 0.9% at $1,860.61 per ounce by 09:30 a.m. EST (1430 GMT). U.S. gold futures fell 0.9% to $1,859.60. “Gold’s got two
RBNZ announced that a Funding for Lending Program (FLP) will be implemented in “early December” with an initial size of about NZD 28B. Further details will be announced in coming weeks. The program aims at providing loans to commercial banks at low cost (e.g.: 0.25%). The central bank left other monetary policy measures unchanged: OCR