Gold prices have seen a sharp rise over the past several weeks. The precious metal has been marking new highs ever since it broke above the $1,750 mark. Over the past month, the yellow metal has gained over $121, or 6.80 per cent, till of July 24. Technical charts show the monthly bar is yet
News
As suggested in the CFTC Commitments of Traders report in the week ended July 21, NET SHORT for USD Index futures gained +754 to 5 793 contracts. Speculative long positions increased +6 856 contracts and short positions added +7 610 contracts. Concerning European currencies, NET LENGTH in EUR futures jumped +14 135 contracts to 125
Hanna was upgraded from a tropical storm to a hurricane on Saturday by the US National Hurricane Center. The most recent update has it pushing west from the Gulf towards the Texas coast expected to make landfall by Saturday late afternoon or early evening (Texas time) NHC warn of potentially damaging winds, severe flooding For
MUMBAI: The jewellery industry is expecting the consumer demand for gold to falter further amid surging prices of the precious metal and economic slowdown. Gold prices have been ruling at unprecedented highs in India and global bullion markets as investors are preferring safe haven assets amid economic uncertainty triggered by the COVID-19 pandemic. On Friday,
Euro ended as the strongest one last week as boosted by the agreement on the Next Generation EU recovery fund. It’s seen as a landmark deal which would increase cohesion of the EU. The burden on ECB would also be dramatically eased with the fiscal support. Meanwhile, Eurozone PMI composite jumped to a 25-month high
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
By Jen SkerrittAs economies struggle to recover in the pandemic and U.S.-China tensions flare, investors piling into precious metals may be overlooking another potential haven: wood. Lumber futures have doubled since early April and are the top-performing major raw material this year. Surprisingly, wood is even outshining gold and silver, traditionally the go-to haven commodities.
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +8.82 mmb to 1461.16 mmb in the week ended July 17. Crude oil inventory gained +4.89 mmb (consensus: -2.09 mmb) to 536.58 mmb. Stockpile increased in 3 out of 5 PADDs. PADD 3 (Gulf
Forex news for near trading on July 24, 2020 In other markets: Spot Gold rose above the $1900 level for the 1st time since September 2011 and move closer to the all-time high price from the same calendar month at $1921. The precious metal is trading at $1901.58 that’s up $14.14 or 0.75%. The high price
NEW YORK: Oil prices edged lower on Friday, pressured by tensions between the United States and China, but some supportive economic data in Europe tempered losses. Brent crude futures fell 13 cents to $43.18 a barrel by 11:19 a.m. EDT (1519 GMT). US West Texas Intermediate (WTI) crude futures fell 5 cents to $41.02 a
Yen and Swiss Franc are trading as the strongest ones for today as stock markets are weighed down by escalating US-China tensions. Though, negative sentiments in Europe was partly offset by much stronger than expected Eurozone and UK PMIs. Signs of a V recovery are there even though the development will depend very much on
Forex news from the European trading session – 24 July 2020 Headlines: Markets: JPY leads, AUD lags on the day European equities lower; E-minis down 0.3% US 10-year yields up 0.8 bps to 0.586% Gold up 0.4% to $1,894.03 WTI up 0.8% to $41.41 Bitcoin down 0.5% to $9,545 The session began with a more
New Delhi: Gold prices in the national capital continued to hit new highs, rising by Rs 475 to Rs 51,946 per 10 gram on Friday, on the back of gains in the international prices of the precious metal and a rupee depreciation, according to HDFC Securities. In the previous trade, it had closed at Rs
The financial markets are generally in risk-off mode in Asia, following the selloff in US overnight. Worries over a double dip recession increased after initial jobless claims unexpectedly rose for the first time in nearly four months. Selloff was most serious in NASDAQ,, which closed down -2.29% just after making another record high earlier this
Reuters info on the Recruitment & Employment Confederation’s measure of employers’ confidence in hiring and investing rose to a net level of +4 in the first half of July up from -9 in June “Even at times like these, there are always opportunities out there for jobseekers,” REC chief executive Neil Carberry said. “But businesses
NEW YORK: Oil were mostly steady on Thursday as rising US fuel inventories and concerns about the impact of surging coronavirus cases on energy demand offset a weaker dollar, which is usually supportive. Brent futures fell 8 cents, or 0.2%, to $44.21 a barrel by 11:57 a.m. EDT (1557 GMT), while US West Texas Intermediate
Sterling tumbles broadly today as another round of Brexit negotiations ended without making any significant progress. Though, Aussie is even weaker as traders are finally taking profits on this week’s strong rally. Swiss Franc, on the other hand, rebound strongly, particular against Euro as the lift from EU recovery funds fade. Dollar is mixed for
No surprises as talks continue to go nowhere for now There was no progress on level playing field, fisheries The past few weeks, UK has not shown readiness to find solutions We are still far away from a deal with the UK For bank trade ideas, check out eFX Plus That basically sums up the