By Yash Sawant The recovery story of copper has been eye catching as the red metal made up all the lost ground on strong fundamentals. Despite the shackled global economy, copper, often used to gauge the health of the overall economy, climbed about 50 per cent on the LME in the past months after hitting
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Reactions to the better than expected job data from US and Canada are rather muted. The greenback is currently trying to extend recovery. Yet, it’s still the worst performing one for the week. Eyes remain on developments of US-China relations. But it probably takes a bit more time for the US to announce follow-up actions
A woman counts U.S. dollar bills. Marcos Brindicci | Reuters With the Federal Reserve and Congress pushing stimulus efforts to new heights, some investors are keeping a close eye on a surge in the U.S. money supply for signs of inflation’s long-awaited return. With a litany of metrics showing rapid growth in the value of
Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. Olivia Harris | Reuters Goldman Sachs on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to $197 million from $2.25 billion. The bank said in a filing it had set
The host of the ‘Week in Ethereum’ Podcast and former Director of ConseSys, Evan Van Ness is the latest person to tokenize himself on the blockchain — a growing trend in the gaming and marketing sectors. Within two hours of launch, a quarter of the EVAN tokens had been sold with the price per token
Oil tries and fails on a break again WTI Crude oil finished the day down 24-cents to $41.95. It rose as high as $42.87 to break the July high of $42.40 for the second day but once again it couldn’t hang onto the level. I’m starting to get worried about OPEC. The last week has
Reserve Bank of Australia (RBA) Assistant Governor Ellis is once again on the wires now, via Reuters, responding to the Q&A session after her speech titled “The Economic Outlook”. Key quotes Recovery will be little stronger due to extension of job support packages. Employment will now not decline as much as forecast. Still a pretty
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By Shruti Srivastava and Swansy Afonso Demand for gold in India rebounded in July, with imports jumping by a quarter from a year earlier, as lockdowns to combat the coronavirus in the second-largest consumer of the metal were slowly eased. Overseas purchases rose to 25.5 tons in July from 20.4 tons a year earlier and
Sterling strengthens generally today after BoE stands pat. Even though investments remained weak, the central offered some optimism in the way that spending recovered significantly. At this point, Euro is the second strongest, followed by Yen. New Zealand Dollar and Canadian are the weaker ones. For the week, however, Dollar stays as the worst performing
Federal Reserve Vice Chairman Richard Clarida said he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021. In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast despite
2021 Toyota Sienna models Toyota Toyota Motor eked out its smallest quarterly profit in nine years as the coronavirus pandemic halved its car sales and nearly wiped out its bottom line. However, shares in Japan’s top automaker rose 2.3% in a weaker broader market as analysts had expected a loss, while comments from a company
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Countries all over the world are feeling the impact of COVID-19, as travel restrictions have virtually put an end to tourism for this year. To put this into perspective, recent statistics from Hawaii’s Maui News found that in June of this year, 1,929 visitors came to Maui, while the island welcomed 287,449 visitors the same
Run above the 1.1908 level fails. The EURUSD in the early European session ran above the previous highs at 1.19043 and 1.1908. The price reached 1.1916 but quickly reversed. Buyers quickly turned to sellers. The price over the last 6 hourly bars has been shopping between a low of 1.18308 and a high of 1.18697. We currently trade between those levels
Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that he doesn’t believe that the Fed’s future policy will include negative interest rates. Additional takeaways “This downturn is different than others because a substantial portion of the population was not working.” “It’s still my view that the US economy will grow at a healthy rate