As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327 contracts to 133 960. NET SHORT
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Airbnb on Monday released its prospectus to debut on public markets. The company allows users to book short-term rentals and experiences while traveling. The company made $219 million in net income on revenues of $1.34 billion last quarter. That was down nearly 19% from $1.65 billion in revenue a year prior. Despite primarily turning net losses, the
Silver trades sharply below highs made at the start of the US session, but holds onto decent gains on the day. Significant upside was seen in precious metals markets as US Treasury Secretary Mnuchin spoke prior to the US open. Silver (XAG/USD) started off strong on Friday, rallying through the Asia and European morning session.
The price of Ether (ETH), the native cryptocurrency of Ethereum, has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term. In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018.
Can oil finally make a break? In the span of a few months, oil went from the world’s most-volatile commodity to a sleepy backwater. That won’t last. WTI crude climbed 40-cents on Friday to wrap up a 5% gain on the week to $42.15. It’s now up 17% this month and 25% since the election-night
The existing Comprehensive and Economic Trade Agreement (CETA) deal will be ‘rolled over’ as a short-term transitional agreement (small changes are being made to language to accommodate CAD-UK only trade as the original CETA was made when the UK part of the EU). the deal must be approved by both governments (Canada’s Parliament must approve new legislation)
BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week’s range, except versus Kiwi. Euro, and Swiss Franc are the next weakest.
Kohl’s shares rose more than 5% Tuesday, after Chief Executive Michelle Gass laid out the retailer’s plans to expand in activewear and personal care in 2021, two hot pockets of growth that have accelerated during the coronavirus pandemic. Kohl’s reported a 13.3% decline in quarterly net sales during its third quarter, as the pandemic limited
NZD/USD appreciates for the third consecutive week to reach a 23-month high at 0.6950. The kiwi trades higher as risk appetite returns. NZD/USD is biased higher and might break above 0.6945 – Credit Suisse. The New Zealand dollar is pulling back on Friday’s late trading after having posted a fresh 23-month high at 0.6950. The pair
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Tests swing area over the last few days The EURUSD trades to new lows into the London fix and in the process has moved to test a swing area at 1.18487 to 1.18515. On Wednesday, the low based twice in that area. On Thursday, the price fell below and found intraday sellers against the area
Forex news for New York trading on November 20, 2020: Markets: Gold up $4 to $1870 US 10-year yields down 0.5 bps to 0.82% WTI crude oil up 41-cents to $42.15 S&P 500 down 24 points to 3557 NZD leads, CAD lags The tone overnight was poor on the Fed-Treasury fight over emergency money, along
Holding Bitcoin (BTC) in treasury will soon become a corporate standard. Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already. MicroStrategy stock rallied
Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are growing on more new cases and