January ended with an exceptionally volatility week. While GME occupied a lot of headlines, there were other important developments like vaccines, US stimulus, and central bank expectations. Sterling ended as the strongest one with traders paring bets on negative interest rate of BoE. The same went for New Zealand Dollar too, which ended as second
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The forex news for North American trading on January 29, 2021 It was a relatively quiet day for the meme stocks, after yesterday’s volatile price action following the restrictions on trading by RobinHood and others. The relative calm in the meme stocks, did not stop the major US indices from moving sharply to the downside
The credit profile of tea companies will improve as the EBIDTA (earnings before interest, tax, depreciation and amortisation) margin of 44 tea companies rated by CRISIL Ratings (accounting for 12% of the industry’s revenue) is expected to increase 300 basis points to 11% in FY21. This has happened as auction prices of tea have risen
Markets continues to engage very volatile trading, with US stocks and treasury yield staged strong rebounds overnight. Though, the moves are not totally followed by Mixed Asian markets. As for currencies, weakness in Australian and Canadian Dollars appear to be the more persistent near term theme. But Yen is not too far behind. Dollar is
Pres. Biden speaking Pres. Biden is currently speaking and says: Cost of inaction on stimulus is high, growing every day Return on investments in the economy have never been higher Notion is must act now on stimulus, no time for delay Stimulus won’t be drag on economy, will help it grow Comments are in line
Gold gained Rs 132 to Rs 48,376 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,244 per 10 gram. Silver also jumped Rs 2,915 to Rs 68,410 per kg, from Rs 65,495 per kg in the previous trade. “Ahead
Canadian Dollar rises broadly in early US session, with the help from better than expected GDP data. Euro is also firmer on German and French GDP data. While markets are back in risk-off mode, Yen, and to a lesser extent Dollar and Swiss Franc, turn softer. As for the week, Sterling and Kiwi are currently
China’s official PMIs are due on Sunday 31 January at 0100GMT. Manufacturing expected 51.5, prior 51.9 Non-manufacturing expected 55.0, prior 55.7 Composite prior 55.1 These will be followed in the new week by the unofficial, Caixin/Markit PMIs for January, manufacturing due on 1 February at 0145 GMT and Service & Composite on the 3rd at
NEW DELHI: Gold and silver futures prices in the domestic market traded with gains in the morning trade on Thursday, as low level buying pushed precious metals higher. Investors are awaiting any development on the stimulus front. While there is a buzz that the government may reduce duty on gold to raise demand in the
The sharp turn in risk sentiments overnight pushed “safe-haven” currencies generally higher. Among them, Dollar is currently outperforming both Swiss Franc and Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. Euro and Sterling are mixed, with the Pound having a slight upper hand. Technically, the movements are mainly centered around
The squeeze might be over It’s a rush to the exits in shares of GameStop in what could be the end of a legendary market episode. I hate to see something like this end because of brokerages and regulators, rather than the natural moves in markets. As I often say though: There’s always another trade.
Oil steadied on Thursday after early declines fuelled by delays to vaccine rollouts and fresh travel curbs to prevent new coronavirus outbreaks. Brent crude futures were up 8 cents, or 0.1%, at $55.89 a barrel by 1331 GMT, having hit a session low of $55.31. U.S. West Texas Intermediate (WTI) crude futures were down 8
Overall, the financial markets are mixed as investor sentiment stabilized. European indices are already reversing initial losses while US futures point to higher open. Commodity currencies are staying generally weak. But buying focus is turning away from Dollar and Yen, to Euro. At the time of writing, the common currency is already the best performing
The hunt is on for the next big short squeeze trade on r/wallstreetbets and elsewhere Maybe some of the tech analysis folks can weigh in with thoughts, not just on the XAG price chart but on option interest/charts? WSB murmuring about $25 to $1,000 …. Something to keep an eye on For bank trade ideas,
Gold fell after the Federal Reserve left its benchmark interest rate unchanged and stuck with the current pace of bond-buying, aiding the dollar and putting bullion on course for the worst start to a year in a decade. The Fed repeated it would maintain bond-buying at $120 billion per month until “substantial further progress” toward
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -11.71 mmb to 1321.88 mmb in the week ended January 22. Crude oil inventory dropped -9.91 mmb (consensus: +0.43 mmb) to 476.65 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf
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
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