Yen rises broadly today as global treasury yields appear to be turning south. In particular, US 10-year yield is back below 0.7 handle in pre-markets. Dollar is pressured but holds on to recently established range. But overall markets are mixed with major European indices bounded in tight range. Australian and New Zealand Dollar continue to
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Financial Times report on the EU warning the City of London it may have to wait beyond the end of this year to know whether it will secure access rights to the whole of the bloc’s market Valdis Dombrovskis, a executive vice-president of the European Commission said that Brussels would not be ready in the
SINGAPORE: Oil prices climbed higher on Monday, lifted by China’s plans to ship in large volumes of U.S. crude in August and September, outweighing concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies. Brent crude rose 21 cents, or 0.5%, to $45.01 a barrel by 0023 GMT while
As suggested in the CFTC Commitments of Traders report in the week ended August 11, NET SHORT for USD Index futures rose +1 707 to 8 182 contracts. Speculative long positions dropped -2 152 contracts and short positions were down -445 contracts. Fed’s ultra monetary easing has sent yields to exceptionally low levels. For instance,
13F filings from Berkshire Hathaway The latest 2nd quarter 13F filings from Berkshire Hathaway show: reduced J.P. Morgan stake by 62%. Exited Goldman Sachs position Southwest air United Airlines Delta Air Lines American Airlines Restaurant Brands International Occidental Petroleum Other swings in positions show increased stakes in: Store Capital Corp. Kroger Suncor energy Reduces positions
New Delhi: India’s gold imports, which have a bearing on the current account deficit (CAD), plunged 81.22 per cent to $2.47 billion (about Rs 18,590 crore) during April-July period of 2020-21 due to a significant fall in demand in the wake of COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow
According to the CFTC Commitments of Traders report for the week ended August 11, NET LENGTH for crude oil futures plunged -15 331 contracts to 520 935 for the week. Speculative long position declined -10 925 contracts, while shorts added +4 406. For refined oil products, NET LENGTH for gasoline increased +5 022 contracts to
Some late-Friday news which speaks to US-China relations. If you’ve been following along US-China relations continue to deteriorate, the latest being talks between the two countries on trade scheduled to take place this weekend were … ‘delayed’: Back to TikTok. Trump’s previous executive order set out to prohibit any US people or firms from doing
By Thomas John MuthootGold prices have been rising since the past few weeks after crossing all-time high of $1920 per oz, and then made a further quick $100 jump after crossing the psychologically important $2,000 level. All this was on account of major uncertainties – Covid-related economic woes, stimulus announcements by US and western countries
The latest set of macroeconomic data suggests that the pace of recovery in China remained slow, as a result of flooding and second wave of coronavirus outbreak. Improvement industrial activities decelerated, while retail sales continued to shrink. Weak domestic spending was evident in subdued core CPI released earlier this week. The government should maintain an
Buffett bought a stake in miner Barrick Gold Warren Buffett has famously disparaged gold but evidently he’s had a change of heart. According to a Q2 13F filed today, The Oracle of Omaha added 20.9 million shares of Barrick Gold, which is the world’s second largest gold miner. He paid $563.5 million for the stake,
BENGALURU/MUMBAI: Chinese discounts for physical gold scaled yet another record peak versus global spot rates this week as the Covid-19 pandemic continued to choke retail appetite, with even a price dip failing to lure consumers in India. Gold has been sold at discounts in China, usually the world’s top bullion consumer, since February. Discounts widened
It was a rather mixed week where there were conditions for a Dollar rebound, with surging treasury yield and correction in Gold. Yet, no apparent rally was seen. Yen was sold off generally, partly on coronavirus and recovery optimism. But the Swiss Franc was firm together with Euro. Strong rally in iron ore prices and
Forex news for North American trading on August 14, 2020. In other markets: Spot gold is down $8.90 or 0.46% $1944.86 Spot silver is down $1.02 or 3.73% $26.48 WTI crude oil futures are down $0.03 or -0.07% at $42.21 In the US debt market today, yields are ending the day mixed. The 30 year bond still has
NEW YORK: Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil
Markets are relatively steady in Asia today. Sentiment was somewhat weighed down by mixed data from China, but there is no apparently follow through selling. New Zealand Dollar continues to be pressured as the country extends coronavirus lockdown by 12 days. Australian Dollar seems to be benefiting from the selloff in Kiwi and it’s trading
Rising daily tally in the UK Cases up 570 compared to a week ago Deaths 11 vs 18 a day ago The UK is getting some attention today for requiring 14-day quarantines for visits to France. The takeaway is that people may spend more money at home. However if cases continue to rise, they may
NEW DELHI: Gold prices jumped Rs 730 to Rs 53,691 per 10 grams in the national capital on Friday amid the rupee depreciation, according to HDFC Securities. In the previous trade, gold had closed at Rs 52,961 per 10 grams. Silver also gained Rs 1,520 to Rs 70,500 per kg, from Rs 68,980 per kg