Forex news for Asia trading for Friday 15 January 2021 The main points of incoming US President Biden’s coronavirus economic rescue plan were reported a couple of hours ahead of his scheduled speech. The response of markets was underwhelming with not a lot of movement. Biden’s speech later was a little more impactful, but not
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The need for effective hedges and the low-rate environment will keep investment demand for gold well supported this year, and the precious metal could mimic the strong growth seen in 2010 just after the global financial crisis, an outlook on the industry published by World Gold Council (WGC) said. The COVID-19 pandemic raised uncertainty by
Euro’s broad based decline continues today, dragging down the Swiss Franc, and to a lesser extent Sterling too. Italy bench yield jumps sharply on increasing risk of fresh elections in the summer. On the other hand, commodity currencies continue to be strong, as supported by overall solid risk sentiments. Global equities are clearly just taking
NZD/USD broke above a key downtrend on Thursday, though is back of 0.7240 highs now. The US dollar weakened predominantly against its more risk-sensitive G10 peers on Thursday, including the kiwi. The pair now appears to be in the early stages of forming an ascending triangle. NZD/USD has been somewhat on the back foot in
Grammy Award-winning American pop-rock band “Portugal. The Man” has launched a fan-focused cryptocurrency on the Ethereum-based Rally Network. Known as PTM Coin, the new token will reportedly grant fans exclusive access to various events and perks, including a livestream party, previously unreleased songs and more. Fan tokens emerged as a growing trend in 2020, allowing
Price has trading above and below the 100 hour MA over the last 2 trading days The USDCHF is following the USD lower. For this pair, the price high today reached up to the low end of a swing area near recent highs between 0.89172 and 0.89197. The high price today reached 0.89167 and reversed lower. The last 4 hourly bars
Futures point higher S&P 500 futures are up 9 points ahead of the open. The index gained 9 points yesterday to 3809. Yesterday’s session high was 3821 and that will likely be challenged. The index has been flatish for the past three days and will be waiting for inspiration from stimulus headlines today. For bank
Gold prices edged lower on Thursday as the dollar steadied and U.S. Treasury yields held near 10-month highs, with markets waiting for President-elect Joe Biden to reveal details of his stimulus plan. Spot gold fell 0.3% to $1,838.44 per ounce by 1052 GMT, while U.S. gold futures slipped 0.8% to $1,839.80. “Gold is consolidating a
Selloff in Euro against commodity currencies appear to be a main theme today, in otherwise mixed markets. Dollar seems not too bothered by the pull back in treasury yields overnight and stays generally inside last week’s range. Sterling is struggling to extend gain despite staying as the strongest one for the week. Yen and Swiss
First-time claims for unemployment insurance jumped to 965,000 last week amid signs of a slowdown in hiring due to pandemic restrictions, the Labor Department reported Thursday. The total was worse than Wall Street estimates of 800,000 and above the previous week’s total of 784,000. Markets reacted little to the number, as the decline in economic
A Delta Air Lines plane lands at Los Angeles International Airport Mario Tama | Getty Images Delta Air Lines halved its cash burn and narrowed its losses in the fourth quarter as the coronavirus pandemic drove the carrier to its worst year ever, the company said Thursday. The Atlanta-based airline posted a net loss of
Although there is scope for further near-term consolidation, the S&P 500 Index still maintains a large bullish “outside week”, which reinforces the uptrend, and economists at Credit Suisse stays bullish for the “measured triangle objective” at 3900. Key quotes “Another consolidation session for the S&P 500 as the uptrend pauses and although this should be
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Wide ranges continue The bitcoin chart is starting to look better. The big drop to $30,100 from $41,986 highlights a couple things: 1) The bitcoin market likes big round numbers. We’ve seen it before and we’ll see it again 2) There’s panic, but no real panic A 28% drop is no joke in any market
Forex news for Asia trading for Thursday 14 January 2021 There were sharp moves in Asia today on the news that new (soon to be) President Biden’s stimulus plan could be in the order of $US2tln, whereas as previous expectations had it pegged around $1.3tln. aud/usd ticked just a few points higher as the news
Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday. “Producers are grappling with huge uncertainty about where this goes from here,” said Tim Gould, head of energy supply outlooks and