Bigger moves in equities than FX A modest risk-positive move is percolating in the FX market as the commodity currencies and euro begin to get a bid. It’s a huge day for sterling as Boris Johnson travels to Brussels to try to break a deadlock in Brexit negotiations. So far, GBP is keeping pace on
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Gold prices zoomed Rs 816 to Rs 49,430 per 10 gram in the national capital on Tuesday on a positive global trend, according to HDFC Securities. The precious metal had closed at Rs 48,614 per 10 gram in the previous trade. Silver also witnessed hectic demand, with prices jumping Rs 3,063 to Rs 64,361 per
After the adjustment in asset purchases in October, we expect BOC to keep the powder dry this week, at its last meeting in the year. Policymakers will caution about the rising number of coronavirus cases and economic impacts of tighter restrictive measures, while noting positive news about vaccine. The central bank will reiterate that accommodative
Charles Scharf Qilai Shen | Bloomberg | Getty Images Wells Fargo CEO Charlie Scharf said Tuesday that the U.S. economy will probably rebound quickly from the coronavirus next year after vaccines are widely distributed. As head of the fourth-biggest U.S. bank by assets, Scharf has a unique view into the saving and spending activity of
Daniel Springer, the chief executive officers at electronic signature technology company DocuSign, says the firm isn’t likely to incorporate additional blockchain technology anytime soon as current infrastructure is far cheaper. In a Quartz report published yesterday, Springer said the San Francisco-based DocuSign’s 2018 integration of the Ethereum blockchain involved the use of smart contracts with
WTI trades off earlier lows and above the $45.50 level as traders eye pandemic and political developments. Coming up at 21:30GMT, weekly API crude oil inventories could trigger a reaction ahead of Wednesday’s official EIA inventory report. WTI bulls were there to support the price action earlier on during Tuesday’s session, keeping the American benchmark
USDCAD traded to new low for the month and year (going back to May 2018). The USDCAD moved to the lowest levels since May 2018 this week. The lows broke below the October 2018 low at 1.27818. However, the low could only get to 1.27704. There is some hesitancy at the lows. Putting it another
Preliminary productivity for third-quarter was 4.9% 2nd quarter productivity came in at 10.6% US third-quarter productivity dips to 4.6% from 4.9% in the preliminary report. The estimate was for 4.9% unit labor costs fell -6.6% vs. -8.9% estimate and -8.9% previously reported unit labor costs in the 2nd quarter rose by 8.5% output rose by 43.4%
Pune: The price of chana dal and tur are falling, raising concerns that they would trade below the minimum support price (MSP). NCDEX chana futures for March delivery, at Rs 46/kg, have fallen below the MSP of Rs 51/kg. Chana dal, which was selling at Rs 72/kg, is now selling at Rs 60/kg. The March
Trading in the forex markets is rather subdued today. Major pairs and crosses are staying inside yesterday’s range for now. Dollar and Yen turn softer. Sterling is in a weak recovery, but lacks follow through buying. It’s too hard for traders to commit to a bet on a trade deal between UK and EU, or
Treasury Secretary Steven Mnuchin listens to a question during a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, December 2, 2020. Greg Nash | Pool | Reuters The decision by Treasury Secretary Steven Mnuchin not to extend the funding
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According to FX Strategists at UOB Group, USD/CNH is expected to drop further and retest the 6.4960 level in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that ‘oversold conditions suggest further USD weakness is unlikely’ and we expected USD to ‘consolidate and trade between 6.5120 and 6.5350’. Our view was not wrong
Gold breaks the New York highs Gold has continued to find a bid in Asia-Pacific trading, rising another $5 to $1868 to top the high in New York. There has been a non-stop bid since the start of the month. That’s almost wiped out the late-November slump. A return to the Nov 23 high of
US also expected to approve vaccine Trudeau said yesterday that Canada could receive up to 249,000 vaccines doses before year end (it takes two doses to be vaccinated). There are 35 million people in Canada so that won’t make a big dent, but it will protect some of the vulnerable. On the spending side, Trudeau
Oil prices slipped on Monday as the positive impact from COVID-19 vaccines and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between the United States and China. Brent crude fell 36 cents, or 0.7%, to $48.89 a barrel by 1112 GMT. U.S. crude was down 39 cents,