LONDON: Oil prices steadied on Tuesday but remained under pressure from the threat to demand from a global resurgence in coronavirus cases and rising Libyan output. Brent crude futures were trading 2 cents higher at $42.64 a barrel by 1355 GMT. November U.S. West Texas Intermediate (WTI) crude futures fell 37 cents, or 0.9%, to
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Markets continue to be dominated by strength of Euro and Swiss Franc today. That comes in spite of surging coronavirus infections in Europe. Meanwhile, the deadlock of Brexit negotiations remain. Traders are apparently adding to bet that more global central banks, like RBA and BoE, are joining the negative interest rate club soon. For now,
Forex news for Asia trading for Tuesday 20 October 2020 There was some early optimism (or blind faith, if you prefer) with late US headlines crossing that Pelosi and Mnuchin were ‘narrowing their differences’ and Senate leader McConnell promising a relief bill vote on Tuesday or Wednesday. Pretty soon Senate minority leader Schumer chimed in
Gold rose about 1% on Monday as the dollar retreated and as expectations of a U.S. stimulus deal being reached ahead of the presidential elections in November bolstered bullion’s appeal as an inflation hedge. Spot gold rose 0.6% to $1,909.80 per ounce by 9:52 a.m. ET (1352 GMT). U.S. gold futures rose 0.4% to $1,913.
Commodity currencies follow Asian markets slightly higher today, with support from solid economic data from China. On the other hand, Euro and Swiss Franc are softer on concerns over record coronavirus infections and return to lockdown. Additionally, Euro could face more pressure if recent steep decline in German yields continue. Dollar is also a touch
No surprise here Canada is keeping a tight border but the US essentially has an open border for Canadians who fly in. As winter approaches, several states get a big economic boost from Canadians wintering in the US. I can see the US opening its side after that deadline. For bank trade ideas, check out
New Delhi; After bullion index, leading commodity bourse MCX on Monday launched futures trading in real-time Base Metals Index ‘METLDEX’. In a statement, the exchange said the Base Metals Index will track real-time performance of a basket of MCX Base Metal (near month) futures that includes zinc, copper, nickel, lead, and aluminium. Presently, it carries
Dollar and Yen are back under notable selling pressure today. US investors are apparently ignoring continuing surge in global coronavirus infections, which broke 40m mark. Instead, there is renewed hope of fresh fiscal stimulus, as House Speaker Nancy Pelosi said a pre-election deal remains possible. Meanwhile, UK and EU are resuming Brexit talks. On the
NZD outlook – support / resistance levels ahead Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Via Kiwi Bank, a New Zealand dollar view and levels. On the election impact: Markets like certainty and the market knows what Labour brings. tail risk of a Labour / Greens coalition,
By Grant Smith and Javier Blas When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to
Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in Asia only. Coronavirus infections and politics, like US election and stimulus as well as Brexit,
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NEW DELHI: Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the COVID-19 pandemic, showed data by the commerce ministry. In the corresponding period a year
WTI crude oil price fluctuated about US$40/bbl last week. Latest forecasts from major oil agencies suggest that impacts of the pandemic on demand will be long-lasting. This could be a barrier for price to go higher. Bets on gold increased in both directions. However, short positions more than doubled those of long as US yields
Moody’s cuts the United Kingdom This isn’t entirely unexpected but you hate to see it. Fitch recently affirmed the UK at AA-, which is the equivalent of Aa3. S&P remains one notch higher at AA but it’s under review. Moody’s cited three reasons for the sovereign downgrade: First, the UKʼs economic strength has diminished since
Mumbai: In the first indication that entails diversifying into new trading segments like equity cash and equity, currency and debt derivatives , MCX, the country’s largest commodity derivatives exchange, has invited proposals from technology vendors for exchange technology solutions as a multi-year agreement with current provider 63 moons concludes in September 2022. : The request
It’s a rather chaotic week with many themes developing. The first October surprise of US President Donald Trump’s coronavirus infects seemed to have fade as he’s back in election campaign. Just as challenger Joe Biden appeared to be widening lead, according to mainstream polls, another October surprise surfaced with Hunter Biden’s Macbook gate. The stories
Forex news for North American trade on October 16, 2020: Markets: Gold down $9 to $1899 US 10-year yields up 1.3 bps to 0.745% S&P 500 flat at 3483 WTI crude oil down 18-cents to $40.78 CAD leads, AUD lags There were some big headlines on Brexit and US retail sales today but the market