Global financial markets seemed to have turned into risk-off mode today, after both Fed and ECB sounded very cautious regarding economic outlook in their minutes. Swiss Franc extended recent volatility trading and gains broadly, followed by Sterling and Yen. On the other hand, New Zealand Dollar completed this week’s recovery and resumed recent selloff. It’s
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The daily case count continues to rise The 1,707 new cases reported today sees the number of active cases across the country rise to ~14,500 and that is the most since 13 May. Meanwhile, another 10 deaths were reported and that brings the total tally on that front to 9,253 persons. For bank trade ideas,
Gold recovered some poise on Thursday after the U.S. Federal Reserve warned that a recovery from the pandemic-induced economic slump faced a highly uncertain path. FUNDAMENTALS Spot gold was up 0.5% at $1,940 per ounce by 0052 GMT, after declining more than 3.5% to a near one-week low on Wednesday. U.S. gold futures fell 1.4%
Crude oil prices weakened despite decline in US inventory levels. At the video conference held by the OPEC+ Joint Ministerial Monitoring Committee, oil producers warned that “the pace of recovery appeared to be slower than anticipated. Yet, they dismissed increasing output cut from the current deal. The report from the US Energy Information Administration (EIA)
Fastest growing CFD broker in Europe ForexTB has recently made a huge presence in the financial scene to be the broker of choice. Not surprisingly, they have been granted the title of ‘Fastest Growing CFD Broker in Europe, 2020’, awarded by Global Brands Magazine to highlight their growing success. Why is this such a prestigious
NEW DELHI: Guar gum prices have risen 30 per cent over the rate four months ago as demand has revived from the oil exploration sector in the US, China and Russia and food processing sector in Europe. The uneven spread of rain in the key sowing area of Rajasthan was also supporting the prices, said
Selling focus turns from Dollar to Swiss Franc today, which also drags down Sterling, and to a lesser extent Euro. Dollar stabilized a little bit but there is apparent strength for recovery yet. In particular, commodity currencies are generally stronger while Canadian Dollar shrugs off weaker than expected inflation data. Attention will turn to FOMC
The UK Times report on the latest from the British Chambers of Commerce. Its Business Tracker report, conducted from August 3 to 7 found: said that companies were struggling with cashflow problems most sectors had reopened for business More than a third of businesses said that they had less than three months’ worth of cash reserves economy
NEW DELHI: Gold and silver saw profit booking after a sharp rise in the previous sessions amid rising worries over the fast rising Covid-19 crisis that is still creating disruptions in people’s lives. India has reported 27.7 lakh virus cases by now with over 53,000 deaths. Meanwhile, investors are also looking forward to minutes of
Recent strength in Australian dollar has sent AUDNZD to the highest level in 2 years. Notwithstanding the second wave of coronavirus outbreak, and the renewed lockdown measures, in Victoria, Aussie has remained firm. While all major currencies have appreciated in light of the broad-based USD weakness, AUD is the strongest with over 25% bounce since
Gold rebounds after quick slump Gold buyers are showing they have some mettle. The rout last week and the mini-rout today were trying times for gold bulls but they’re passing the test. After hitting $2015 today, gold dropped to $1976 in a quick move as many markets reversed following the S&P 500’s record high. But
NEW DELHI: Gold prices jumped Rs 1,182 to Rs 54,856 per 10 gram on Tuesday in the national capital following rally in international prices of the yellow metal, according to HDFC Securities. In the previous trade, gold had closed at Rs 53,674 per 10 gram. Silver was also in heavy demand as it zoomed Rs
Dollar’s selloff accelerates entering into US session, taking out recent lows against all major currencies except Yen. Another leg in the near term down trend has started. Swiss Franc and Yen are the next weakest, together with New Zealand dollar. On the other hand, Sterling and Euro are both riding on the wave and strengthen
Last week another part of Australia, the Northern Territory, said its borders would be closed for at least 18 months The state Premier, Peter Gutwein, said restrictions would stay in place until at least December “to allow sufficient time for the COVID-19 situation in Victoria and the threat posed to other states to be clearly
TOKYO: Oil prices edged lower on Tuesday, mostly holding onto overnight gains after OPEC+ said the producer grouping is almost fully complying with output cuts to support prices amid a drop in demand for fuels due to the coronavirus pandemic. Brent crude was down 6 cents, or 0.1%, at $45.31 a barrel by 0027 GMT,
Yen’s rebound continues in relatively quiet trading in Asia. Risk aversion is not apparent as major indices outside of Japan are all in slight black. Instead, Yen traders could be reversing recent shorts as treasury yields pull back. Staying in the currency markets, New Zealand Dollar remains the worst performing one, followed by Dollar. The
New York gyms can open next week Arizona reports 0 deaths Some good news from the Covid front today: Gov. Cuomo in New York said that gyms can open on August 24 with 33% capacity, masks Arizona reported 0 deaths yesterday and only 468 new cases. The ICU utilization remained at 80% In New York, hospitalizations
NEW DELHI: Gold prices rose by Rs 340 to Rs 53,611 per 10 gram in the national capital on Monday, in line with firm international trend, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 53,271 per 10 gram. Silver also witnessed increased buying and gained Rs 1,306 to