The evidence that this is forced liquidation The heavy selling in equities to me look like liquidation of longs to cover loses in shorts. The $GME squeeze alone might have caused more than $30 billion in losses. There are squeezes on other heavily-shorted stocks as well. When there’s a fund liquidating, word gets out and
News
Gold in the national capital declined Rs 231 to Rs 48,421 per 10 gram on Wednesday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,652 per 10 gram. Silver also dipped Rs 256 to Rs 65,614 per kilogram from Rs 65,870 per kilogram in the previous trade. The
Dollar, Yen and Swiss Franc strength again today, as dragged down by the decline in European stocks. DOW future is also losing -300pts at the time of writing. Sentiments are slightly weighed down by UK’s plan to impose tougher border measures. Germany slashed this year’s growth forecasts. Commodity currencies turned softer, following overall risk sentiments.
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
MELBOURNE: Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world’s second-biggest oil user, reported its lowest daily rise in COVID-19 cases, bolstering hopes of a pick-up in demand. U.S. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $52.71 a barrel
Crude oil prices consolidate narrowly around 11-month high. After rebounding about 20% from the March low, upside momentum appears fading. Traders are increasingly concerned about the demand outlook which could be hurt by resurgence in coronavirus cases in China. The Chinese government reported 793 new cases last week, compared with below 300 two weeks ago.
Richmond Fed manufacturing index for January 14 vs. 19 estimate Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Richmond Fed manufacturing index for January 2021 Prior report manufacturing activity index falls to 14 from 19 in December. Index remains in the expansionary territory shipments 10 vs. 12 last month
LONDON: Copper fell for a fourth day on Tuesday as the slow progress of U.S. stimulus measures, a stronger dollar and concerns about demand from top consumer China sucked momentum from a rally that lifted prices to eight-year highs earlier this month. China, whose copper consumption has driven the rally, is gearing up for a
European stocks are trading generally higher today but no equivalent strength is see in the US pre-markets. Investors seemed to be lifted by news that EU, with backing from Germany, is going to introduce restrictions on COVID-19 vaccines over sudden supply cuts by AstraZeneca and Pfizer. There is little reaction to resignation of Italian Prime
Adam posted on this last week; And I popped up this just a while back: An overnight note via Deutsche Bank asked if this is the most encouraging graph in the world right now? If these sorts of results extrapolate globally 2021 will come good … For bank trade ideas, check out eFX Plus
Oil prices held steady on Monday, pressured by falling stock indexes, but optimism around U.S. stimulus plans and some supply concerns buoyed futures. Brent crude futures remained unchanged at $55.41 a barrel by 11:21 a.m. EST (1621 GMT). U.S. West Texas Intermediate crude fell 13 cents to $52.14 a barrel. Major U.S. stock indexes fell,
It’s the same old story as Asian markets open in risk-on mode. Commodity currencies strengthen broadly, but led by New Zealand Dollar this time. On the other hand, Swiss Franc, Yen and Dollar are the weaker ones, while Euro and Sterling are mixed. Trading could be subdued today with a thin economic calendar. ECB President
Some of the all-time great short squeezes are underway Shares of GameStop are slated to open near $100 today as the epic shortsqueeze combined with a speculative frenzy continues. They were at $4 in August and $20 at the start of the month. The shares have been bid up by retail options traders at WallStreetBets.
Gold prices in the national capital fell Rs 141 to Rs 48,509 per 10 grams on Monday, continuing the previous day’s weakness, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,650 per 10 gram. Silver, however, gained marginally by Rs 43 to Rs 66,019 per kg, from Rs
As European stocks turned south after initial trading, US futures also also dragged down. Overall market sentiments turned mixed after a bright start in Asia. Dollar is recovering mildly but commodity currencies remain the strongest one so far, as led by New Zealand Dollar. There is apparently some pressure on European majors after German Ifo
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
China has been making overtures to the US The US-China well has been poised and any talk of a return to the pre-2017 status quo is unrealistic. China knows that. So it needs to do what it can to improve relations, starting with small steps. The WSJ reports that Chinese leaders raised the idea of