2020 was a wild year in European equity trading European bourses closed out the year with a whimper, falling across the board: UK FTSE 100 -1.45% German DAX -0.3% French CAC 40 -0.9% Italy MIB -0.1% Spain IBEX -1.0% On the year, there was some wide divergence in performance,, with UK stocks posting the worst
News
Gold was marginally down Rs 20 to Rs 49,678 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 49,698 per 10 gram. Silver also declined Rs 404 to Rs 67,520 per kilogram from Rs 67,924 per kilogram in the previous
Everyone goes back to zero 2020 was a year of incredible opportunities in financial markets but the FX market was more of a sideshow than the main participant. I think that chances in 2021. There are going to be some of the big trends that make for big trades that last months. We’ve seen the
Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday. The poll of 39 economists and analysts conducted in the second half of December forecast Brent crude prices would average $50.67 per barrel
A last-minute Brexit trade deal has been reached just before the Christmas. the outcome is largely inline with our expectations. As a no-deal Brexit is avoided, BOE should be able to keep its powder dry for the year to come. The chance of negative interest rate has also been reduced, barring unanticipated bad news related
Previous record was Tuesday at 53,275 964 dead vs 575 a day ago The daily deaths are approaching the April peak of 1172. I’m sympathetic to the argument that the new variant is more transmissible. Otherwise, it’s very difficult to explain this spike despite the December lockdown. Other countries where they don’t have this variant
Oral care, pharmaceutical and confectionary companies including Colgate Palmolive , Procter and Gamble and Mars Wrigleys are likely to increase the purchase of mentha oil in the coming quarter which will take exports close to pre-Covid levels, companies and trade bodies said. India is the largest producer and exporter of mentha oil and its derivatives.
After gaining almost +10% this year, we expect EURUSD to strengthen further in 2021. While Eurozone continues to struggle with slow recovery and subdued inflation, the broad-based weakness in US dollar is anticipated to support the pair. As we mentioned in the previous report, we are bearish over US dollar due to dissipation of yield
Forex news for Asia trading for Thursday 31 December 2020 ICYMI The US dollar once again lost ground during the session in Asia, currencies generally higher across the major FX board. Offshore yuan rose also, hitting highs it hasn’t seen since June of 2018 (circa 6.49 for USD/CNH). As I post the picture is becoming
Gold futures fell by 0.13 per cent to Rs 49,976 per 10 gram on Wednesday as participants offloaded their holdings on low spot demand. On the Multi Commodity Exchange, gold prices for February delivery declined Rs 63, or 0.13 per cent, to Rs 49,976 per 10 gram in a business turnover of 10,074 lots. In
Dollar remains the worst performing one for today, after earlier downside breakout. Though, selling focus has shifted away from Euro. Currently, Australian Dollar an Sterling are the strongest one, followed by New Zealand Dollar. But Yen buying is accelerating in early US session. It’s unsure who will end up as the best performer for the
It’s lower than yesterday but still extremely high With today’s announcements, 78% of the population of the UK will be Tier 4 lockdowns tomorrow. Officials said most of the jump in cases yesterday was real, and not a result of holiday lags. Today’s number underscores that. Deaths were at 575 vs 659 a day ago.For
Cottonseed oil cake prices on Wednesday declined by Re 1 to Rs 1,999 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices. On the National Commodity and
Dollar’s selloff picked up again as year end approaches. While US stocks took a breath overnight, Asia markets ex-Japan is enjoying some solid buying for now. While Euro is strong against Dollar, it’s mixed against other European majors. Meanwhile, Canadian Dollar is clearly lagging behind Aussie and Kiwi in the current risk-on buying. Gold and
Forex news for Asia trading for Wednesday 30 December 2020 In another holiday-mode thin liquidity session the USD lost further ground with gains for major FX across the board. AUD, EUR, GBP, NZD, yen … all gaining. CAD and CHF too, but trailing the field. Gold joined in, back to its overnight (US time) high
Decks have been cleared for trading of synthetic diamonds at the Bharat Diamond Bourse (BDB), the country’s largest diamond trading hub. BDB members at the bourse’s annual general meeting held Monday voted to lift the ban imposed four years ago at an AGM. The ban was imposed “to protect “ the natural diamond trade ,
Euro’s rally is a focus in rather quiet markets today. Clearance of no-deal Brexit risk was a positive for the common currency. There’s additional boost from rumors that a EU-China investment deal is likely this week. However, we’d like to point out that European Commission formally (in a statement) criticized China’s “torture” and “ill-treatment” of
The party continues The open in the S&P 500 was a bit stronger than anticipated with the index gaining 20 points to a fresh record at 3754. The risk trade is also improving in FX with the commodity currencies at the best levels of the day and the US dollar on the defensive across the