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Gold prices rose Rs 45 to Rs 48,273 per 10 gram in the national capital on Tuesday on a positive global trend, according to HDFC Securities. The yellow metal had closed at Rs 48,228 per 10 gram on Monday. Silver prices also gained Rs 407 to Rs 59,380 per kg, compared with Rs 58,973 per
Yen and Dollar are generally softer today as markets open December on firm footing. Australia Dollar is following as third weakest as diplomatic tension with China worsens. On the other hand, Euro is leading Swiss Franc higher. Manufacturing data from China and UK indicate sustainable recovery for now, while Eurozone PMIs were not too disastrous.
Japan third-quarter corporate data was out earlier, the results are here: Reuters have a recap of the data, and, as you’d expect, cite the impact of the pandemic: coronavirus hit private sector demand, keeping policymakers under pressure to deploy large stimulus to respond to the pandemic. To cope with the virus pain, ruling party lawmakers
Oil prices tumbled on Monday on uncertainty about whether OPEC+ would agree to extend large output cuts at talks this week, but vaccine hopes still kept benchmark crudes on track to rise more than a fifth in November. Brent crude for January delivery, a contract that expires on Monday, dropped 90 cents, or 1.9%, to
After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since the last meeting suggested continued
October pending home sales data: Prior was -2.2% (revised to -2.0%) Second consecutive drop after four gains Sales up 19.5% y/y vs +22.2% prior The year-over-year numbers tell the story in US housing. This is a small setback in what’s been a boom and looks to be a secular trend tied to ultra-low rates and
Gold prices extended their slide to five month lows on Monday as prospects of a vaccine-led boost to the economy cast a shadow over safe-haven assets and set bullion on course for its worst month in four years. Spot gold dipped 1% to $1,770.56 per ounce by 1337 GMT, and was down 5.7% so far
Overall, the markets are relative quite today, in month end trading. Stocks are struggling in tight range, indifferent to news of Modern’s plan to see US and EU clearance for their vaccine. In the currency markets, Sterling is currently the strongest one, awaiting news on Brexit trade talks. Canadian is the next strongest, then Kiwi.
This will bolster the New Zealand government view of tightening lending of housing in the country. Housing lending rose 1% m/m, the most on record (since 1998) up 7.3% y/y Meanwhile lending for: business -0.5% m/m, -3.1% y/y consumer l-11.2% y/y NZD is up on the session but at its lows of its pullback: For
Gold edged down on Friday, on path for its worst weekly decline in two months, as hopes for a virus vaccine and a rebound in economic growth dulled demand for the safe-haven asset. Spot gold fell 0.3% to $1,805.41 per ounce by 1233 GMT, down 3.5% on the week so far, which could be it’s
The UK Times reports over the weekend that the Commission has begun to “lean on” EU negotiator Michel Barnier to get a trade deal with the UK. and that UK Prime Minister Johnson was expected to speak to EU Commission President Ursula von der Leyen in the next 48 hours to try to find common
VIENNA: The OPEC oil producers’ club and its allies will hold a virtual meeting on Monday and Tuesday to finalise an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand. The meeting comes as the oil industry hopes to turn a page on a disastrous year which saw the
Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break through 1800 psychological support with next
So report the Financial Times, saying the drug regulator in the country is set to grant approval within days. (FT may be gated.) Deliveries of the vaccine developed by BioNTech and Pfizer would begin within hours of the authorisation first injections could take place from December 7. UK has ordered 40m doses of the two-shot product,
MOSCOW/DUBAI – A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Sunday – a day later than scheduled – prior to meetings planned for next week, a source with the knowledge of the matter told Reuters. The talks had initially been scheduled for Saturday, according to a
Vaccine optimism pushed global stocks higher last week, with Nikkei completing the most impressive rally. Commodity currencies ended generally higher as led by New Zealand Dollar. Yen and Dollar ended as the worst performing ones. Though, no key levels were taken out, except in NZD/USD and NZD/JPY. Dollar index is also holding on to an
Forex news for North American trading on October 27, 2020 The dollar slumped marginally in post-Turkey day hangover trading. There was no economic data, but stocks did rise with both the S&P and Nasdaq index closing higher and a record levels (flow out of the safety of the greenback?). Hopes for Covid vaccines may also