The global financial markets continue to trade in full risk-on mode today. In particular, US futures point to sharply higher open as S&P 500 would likely take on new record high. Canadian Dollar is currently the strongest one for today, as lifted by mildly higher oil price. Australian Dollar follows as the second strongest. Euro
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There was plenty of news of this on Monday and its continuing again today. one person is reported dead so far people in cars are running down police (see the tweet accompanying this post for video of police being run down … ugly scenes) For bank trade ideas, check out eFX Plus
Gold bugs – investors perpetually bullish on gold – have long been seen as a paranoid fringe of the financial world, holding the shiny asset as a hedge against a disaster they always think is near. But lately they appear to be on to something. This year gold is the best performing traditional asset in
The week starts with a rather subdued tone without much activity. It’s National Day of Singapore while Japan is also on Mountain Day holiday. There is also no further price movements on US-China tensions. Major forex pairs and crosses are stuck inside Friday’s range, with Dollar and Swiss Franc slightly softer. New Zealand Dollar is
South gets a handle on the virus 4247 cases vs 6254 yesterday Median age 40 vs 42 Tests 58K vs 85K yesterday Positivity 8.6% vs 8.47% yesterday 91 new deaths Hospitalizations up 76 in past 24 hours Positivity: There’s a clear and consistent trend lower in new cases and positivity now. You would like to
Kolkata: As tea prices soar in India owing to lower output this year, packet tea players and tea traders are considering importing teas from Kenya and Vietnam, where tea prices have crashed due to overproduction. The Federation of All India Tea Traders Association (FAITTA) said importing teas will be a one-time affair and that it
Markets continue to tread water today with little movements. European indices are fluctuating in tight range between gain and loss. US futures point to mildly higher open. In the currency markets, most major pairs and crosses are stuck in side Friday’s range. Swiss franc is currently weakest, followed by Euro and Aussie. Canadian is the
Chinese financial regulators took control of Baoshang in May 2019 due to serious credit risks The PBOC will now let it go into liquidation, the first such insolvency since 2001. PBOC says the bank is permitted to file for bankruptcy and liquidate any remaining assets The PBOC has allowed 2 other banks to to take
NEW DELHI: Commodities block was a mixed bag on Friday with bullion counters trading with gains while energy and base metals in the red amid escalating tensions between US and China. Gold was flat while silver gained 0.31 per cent. Base metals dropped up to a per cent. Meanwhile, crude oil dipped 0.44 per cent
As suggested in the CFTC Commitments of Traders report in the week ended August 4, NET SHORT for USD Index futures decreased -252 to 6 475 contracts. Bets fell on both sides as the greenback is still finding bottom after losing almost -10% against a basket of currencies since March. Speculative long positions dropped -2
Clever move from the President We were expecting executive orders on the payroll tax, student loan interest and rental eviction on the weekend but Trump surprised with another one: Unemployment benefits. Trump signed an order that will boost benefits by $300/week if individual states pay an extra $100/week. The move was not reported on rumored
By Swansy Afonso Silver consumption in India is set to halve in 2020 as buyers, mainly from rural areas, skip purchases amid surging prices and a weak economy. Imports by the world’s biggest consumer may tumble by as much as 50% this year from about 6,000 tons in 2019, according to Chirag Sheth, a consultant
According to the CFTC Commitments of Traders report for the week ended August 4, NET LENGTH for crude oil futures gained +3 697 contracts to 536 266 for the week. Speculative long position rose +16 930 contracts, while shorts gained +13 233. For refined oil products, NET LENGTH for gasoline increased +7 526 contracts to
Comments from Mnuchin Says he thinks if a deal could be reached on unemployment and state/local aid then the rest could fall into place Says will meet any time White House wants a compromise Reports say they’re something like $1 trillion apart on state/local funds. It’s a bit puzzling why Republican governors are so against
Oil prices fell nearly 2% on Friday, limiting their weekly gain due to concerns the global recovery could falter from a resurgence of coronavirus cases. The rise in infections remains the dominant issue for the fuel demand outlook. Cases in the United States are still rising in a number of states, while India recently reported
Dollar was under pressure most of the week on risk-on sentiments. NASDAQ gapped higher and marched to new record highs. Nevertheless, the greenback staged a notable comeback after combination move by the US administration against the Chinese Communist Party, with bans on TikTok and WeChat, as well as sanction on Hong Kong and Chinese officials.
CFTC commitments of traders: EUR longs climb to a new record Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Weekly FX speculative positioning data from the CFTC. EUR long 180K vs 157K long last week. Longs increased by 23K GBP short 15K vs 25K short last week. Shorts
Gold slumped over 2% on Friday, snapping its record-breaking rally, after a decent U.S. jobs report boosted the dollar, but a worsening pandemic kept prices on course for their longest streak of weekly gains in about a decade. Spot gold fell 1.4% to $2,033.89 per ounce by 2:46 p.m. EDT (1846 GMT), after hitting a