LONDON: Oil prices fell on Friday, erasing an earlier rise but still leaving both benchmarks on track for their biggest weekly gains since early June on the back of supply cuts caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway. Brent was down 31 cents at $43.03
News
As suggested in the CFTC Commitments of Traders report in the week ended October 6, NET SHORT for USD Index futures dropped further, by -2 521 to 3 034 contracts. Speculative long positions increased +3 669 contracts and short positions added +1 148 contracts. Concerning European currencies, NET LENGTH in EUR futures slumped -13 808
2- weeks after Super Spreader event Pres. Trump is hosting an in-person “law and order” event Saturday at the White House. The meeting would be 2-weeks to the day from the so called “super spreader” event to introduce Amy Coney Barrett as the SC nominee. I would assume there would be a better social distance
BENGALURU/MUMBAI: Physical gold was sold at a premium in India this week for the first time since mid-August as jewellers stocked up, hoping key festivals would bring customers back to stores. Indians will celebrate Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Industry is banking on festivals
Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump’s coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too. On the other hand, Canadian Dollar was doubled boosted by
Forex news for North American trading on October 9, 2020. Oh Canada! The US employment data was released last Friday, so Canada had all the attention to itself today when they released their jobs report for the month of September. The numbers did not disappoint. The net change in employment rose by 378.2K vs. expectations of 150K. Most of the job gains were in full-time employment with
Gold rose by more than 1% on Friday and was on course for a second straight weekly gain as the dollar weakened and renewed negotiations for U.S. stimulus prompted investors to buy bullion as a hedge against inflation. Spot gold was up 1.2% to $1,915.36 per ounce by 1135 GMT, up 0.9% this week. U.S.
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the next move. Yen remains the weakest
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
New Delhi: Zinc prices on Friday rose by Rs 3.65 to Rs 195.35 per kg in futures trade tracking a firm trend in physical markets on the back of pick up in spot demand. On the Multi Commodity Exchange, zinc contracts for October delivery traded higher by Rs 3.65, or 1.9 per cent, at Rs
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week’s strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are back on risk on mode. As
Elizabeth Belugina touches on the best trading ideas this month and how to stay head of any October surprises in the markets Markets have been hyper active in 2020, showing no signs of slowing down this fall. Compounding this trend is the upcoming US election, which looks to inject more uncertainty into all financial markets.
KUALA LUMPUR: India’s edible oil imports in 2019/2020 is seen falling to 13.5 million tonnes versus 14.9 million tonnes a year ago due to the COVID-19 outbreak, the Solvent Extractors Association (SEA) of India said on Thursday. The nation’s production of rapeseed mustard could rise to 10 million tonnes in 2021, SEA President Atul Chaturvedi
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is actively working on negative rates. Euro
But needs the Presidents approval first According to politico, Treasury Secretary Mnuchin floated the idea of resorting stimulus talks with House Speaker Pelosi. The caveat is he would have to convince Pres. Trump first. Politico at that Mnuchin “is extremely motivated to get a deal”. On the negative side, two Republican senators have expressed concerns regarding another round of taxpayer funded grants for airlines. Pelosi is scheduled
New Delhi: Gold prices on Thursday rose by Rs 108 to Rs 50,156 per 10 gram in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 108, or 0.22 per cent, at Rs 50,156 per 10 gram in a
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move in risk markets. Global stock markets seem to have stay in a risk-on mode, with
It was much more civil than the Presidential debate Nothing stood out from the debate. Pence was much stronger than Trump and Harris had some good and bad moments. As I wrote earlier, I don’t think anyone is going to the ballot booth and thinking about Pence and Harris. Does anyone even remember who Hilary