By Andres Guerra Luz A battle for oil market share in Asia may be coming to a head as the world’s largest crude producers prepare for peak demand, according to some analysts. Strong demand out of Asia has provided one of the few bright spots for an otherwise dreary 2020 for oil consumption as governments
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Selloff in the Dollar was the main theme in the currency markets last week. With the arrival of coronavirus vaccines, the global economy looks set to return to normal next year, despite some cautious comments from central bankers. Yen might look worst than Dollar but it is indeed still holding above near term support against
Nonfarm payrolls increased by just 245,000 in November, well below Wall Street estimates as rising coronavirus cases coincided with a considerable slowdown in hiring. Economists surveyed by Dow Jones had been looking for 440,000 and the jobless rate to decrease to 6.7% from 6.9% in October. The unemployment rate met expectations, though it fell along
Gold rebounds massively from the lows traded in November. A break above the 100 SMA on the 4-hour chart will help validate the expected spike to 1,875. Gold’s price recently broke out of a descending wedge pattern. This breakout shifted the bulls’ focus upward after support at 1,760. Several resistance levels delayed the recovery, including
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price hits new all-time high as crypto market matures
Some profit taking ahead of the weekend The EURUSD is trading to a new day low as the clock ticks toward the close. For the week, the EURUSD moved above old swing lows from Jan, March and April 2018 between 1.2153 to 1.2164, but could only reach 1.2177 before sellers reentered. The low for the day
Forex news for North American trading on December 4, 2020 In most years, if a US jobs report can in worse than expectations by 215K jobs, you might expects stocks to move lower, yields to move lower. the USD to move lower. Today, NFP came in at 245K vs 460K estimate and stocks rallied and
A concrete foundation or good learning is a must before branching out to any field in order to make a such venture successful — be it in business or in building a financial portfolio. For proper portfolio diversification, one should try and invest a part of the money in commodities, as this asset class tends
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Food Bank for New York City distributes turkeys and Thanksgiving fixings with support from Stop & Shop and WBLS’ The Steve Harvey Morning Show on November 16, 2020 in New York City. Michael Loccisano | Getty Images Entertainment | Getty Images Job growth slowed significantly in November and looks set to decline even more, as
DXY pairs losses in the final hours of FX trade and manages to close in the green close to 90.80. However, DXY still closed the week with steep losses of just over 1.0%. The Dollar Index (DXY) picked up into the Friday FX market close, closing the final trading day of the week close to
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Major indices close near highs All 3 major indices close at record highs today. The Dow and S&P close higher for the 2nd consecutive week The NASDAQ close higher for the 3rd consecutive week The S&P index outperformed the Dow and Nasdaq although all closed near session highs. The final numbers are showing: S&P index rose 32.4 points or
CFTC commitments of traders: EUR longs remain the largest speculative trader position Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly FX positioning data for the week ending December 1, 2020 EUR long 140K vs 138K long last week. Longs increased by 2K GBP short 8K vs 17K short
Guar gum prices on Friday traded flat at Rs 5,745 per five quintal in futures trade. On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded flat at Rs 5,745 per five quintal with an open interest of 18,485 lots. The contracts for delivery in January traded higher by Rs 7,
Canadian Dollar is given another boost in early US session after stronger than expected job data. In the background, the Loonie has already risen following higher oil prices. Dollar, on the other hand, has little reaction to much worse than expected non-farm payroll report. For the week, Dollar and Yen remain the worst performing one.