The party continues The open in the S&P 500 was a bit stronger than anticipated with the index gaining 20 points to a fresh record at 3754. The risk trade is also improving in FX with the commodity currencies at the best levels of the day and the US dollar on the defensive across the
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New York has given the first authorization to a stablecoin backed by the Japanese Yen to operate in the U.S. Per a Dec. 29 announcement, the New York Department of Financial Services has granted Japanese firm GMO-Z.com a charter to handle U.S.D. and Yen-backed stablecoins in New York. Given New York’s status as a global center,
By Stephanie Kelly and Devika Krishna Kumar NEW YORK: This year was like no other for oil prices. Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, US crude plunged deep into negative territory and Brent dropped below $20
Dollar turns softer again in Asian session today as markets are back in full risk on mode. Following the record runs in US, Nikkei is also hitting new 30-year high. Yen is following as second weakest for now. However, risk appetite is not clearly seen elsewhere. Australian and Canadian Dollars are just mixed. Sterling struggled
GBP/USD regained positive traction on Tuesday and recovered a part of overnight losses. The prevalent risk-on mood undermined the safe-haven USD and remained supportive. The GBP/USD pair added to its intraday gains and climbed further beyond the key 1.3500 psychological mark during the early part of the European session. Following the previous session’s sharp intraday
S&P leads the charge today The major indices are all closing at record levels with the S&P index leading the charge today. S&P index rose 32.3 points or 0.87% had 3735.36 Nasdaq rose 94.688 points or 0.74% at 12899.42 Dow rose 204.1 points or 0.68% at 30403.93. The gains were spurred by the signing of the near $900 billion aid package
Forex news for Asia trading for Tuesday 29 December 2020 The Lower House of the US Congress passed the bill to provide COVID-19 relief checks to Americans of $2,000. Last week Trump called the $600 checks a ‘disgrace’ and called for a boost to $2,000 and the Democrat-controlled House of Representatives have delivered. The bill
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Gold prices pared gains on Monday as the dollar recovered losses and stock markets rallied after U.S. President Donald Trump signed a long-awaited pandemic aid bill, while liquidity remained low on account of the holiday season. Spot gold was little changed at $1,877.20 per ounce by 1301 GMT, having earlier risen as high as $1,900.04
Global stock markets are lifted by US fiscal stimulus as well as Brexit trade deal. S&P 500 and NASDAQ are set to extend recent record runs, as indicated by futures. Though, the movements in the forex markets are relatively subdued. Sterling is paring some of last week’s gains, after failing to break through near term
GBP/USD is languishing close to lows of the day around 1.3450. The “sell the fact” reaction to the announcement of the deal last week has continued into the final trading week of the year. It’s been a rough day for sterling, with GBP/USD slumping more than 0.6% to around 1.3450 having previously traded above the
GBP, JPY, CAD, AUD and NZD trade to new lows vs the greenback The USD climbed to new session highs into the London fix (at 11 AM ET/1600 GMT). The GBP, JPY, CAD, AUD and NZD all traded to new session lows vs the greenback (the USD to new session highs vs those currencies). Technically,
Thin markets and flows dominate Trump signed the stimulus agreement late on Sunday, avoiding a tail risk and boosting S&P 500 futures by 25 points. Tomorrow is the last day for tax loss selling so that’s an important spot to watch this year. The early moves in gold and risk assets aren’t as inspiring as
Just like you might think twice about eating chicken nuggets once you see how they are made, you’d likely hesitate about volunteering your personal information once you see how it is used and monetized. Freedom has become one of the world’s most commoditized assets — and over the years, the internet has eroded it. We
Oil rose towards $52 a barrel on Monday as U.S. President Donald Trump‘s signing of a coronavirus aid package and the start of a European vaccination campaign outweighed concern about weak near-term demand. Brent crude rose 41 cents, or 0.8%, to $51.70 a barrel at 0926 GMT, reversing an earlier decline. U.S. West Texas Intermediate
Dollar, Yen and Swiss Franc are the relatively weaker ones in quiet markets today. Asian investors are lifted slightly after US President Donald Trump signed the massive USD 2.3T package that contains a USD 900B pandemic relief, while also averted government shutdown. Sterling and Euro are the firmer ones after the long-awaited Brexit trade deal