Gold eased on Thursday on a stronger dollar and higher U.S. Treasury yields, but prospects of more fiscal stimulus under a Democrat-led administration in Washington capped losses. Spot gold was down 0.3% to $1,912.86 per ounce by 10:39 a.m. EST (1539 GMT). U.S. gold futures were up 0.3% at $1,913.90. Prices slipped as much as
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Dollar extends recovery in European but there appears to be no follow through buying so far. It remains one of the weakest for the week, together with Yen and Sterling. Australian and New Zealand Dollars are paring some of this week’s gains too. The US Senate and House certified President-elect Joe Biden’s victory in the
Latest data released by Eurostat – 7 January 2021 Prior -0.3% Core CPI +0.2% vs +0.2% y/y expected Prior +0.2% No change in headline and core inflation in the Eurozone for the month of December relative to November. That just reaffirms more subdued price pressures in general towards the end of last year, with core
NEW DELHI: Gold and silver futures prices in the domestic market edged higher on Thursday amid violence and political uncertainties in the US and after Democrats gained majority in the US Senate. Democrat victories in two Georgia races cleared the way for a larger fiscal stimulus under President-elect Joe Biden. Many investors view bullion as
Dollar is recovering mildly today but remains one of the weakest for the week, together with Yen and Sterling. Solid risk appetite, with DOW closing strongly at new record overnight, is keeping the greenback and Yen pressured. Yen appears to be slightly weaker with the sharp rally in treasury yield. The Pound, on the other
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
Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week. Brent crude rose 85 cents, or 1.6%, to $54.45 a barrel at 1050 GMT, its highest level since Feb. 26, 2020, after
Yen selling takes center stage today, following strong rise in global treasury yields. In particular, US 10-year yield is trading at 0.99 at the time of writing, after hitting 1.037 earlier. Dollar remains generally pressured, and even the recovery against Yen is weak. The surprised contraction in ADP employment is definitely not giving the greenback
Latest data released by Eurostat – 6 January 2021 Prior +0.4% PPI -1.9% vs -2.0% y/y expected Prior -2.0% Producer prices creep up a little further in November last year but that hasn’t quite translated much into anything significant on the inflation front. That said, comparatively to the year before, producer prices are also still
NEW DELHI: Gold and silver futures prices in the domestic market traded with cuts on Wednesday amid uncertainty around elections in Georgia, which will decide how easy it will be for US President elect Joseph Biden to take decisions during his presidency. Polls closed in Georgia’s dual runoff elections that will determine both control of
Dollar’s decline resumed overnight and stays soft in Asian session today. Though, intensity of the selloff remains relatively weak. FOMC minutes is a feature today but that’s unlikely to provide any inspiration for the greenback. Sterling is indeed still the worst performing one for the week for now, as weighed down by fresh lockdowns. As
CNN releases Georgia exit poll done by Edison Research CNN is out with its exit poll from Georgia even though the polls don’t close for another 2 hours. The data is trickling out but the early data is positive for Republicans because it shows an older electorate and a 1 pp increase in registered Republican
Saudi Arabia has offered to make voluntary cuts in its oil output in February in a bid to persuade fellow OPEC+ producers to hold steady amid concerns that new coronavirus lockdowns will hit demand. Two OPEC sources said Saudi Arabia made the offer on Tuesday at a meeting of OPEC+, which combines OPEC producers and
Dollar weakens again in rather quiet markets today. But there is no committed selling so far, as the greenback is staying inside yesterday’s range. European majors also soften, on lockdown concerns, and shrug of solid German economic data. Commodity currencies are stronger in general, even though risk markets are rather sluggish. US futures are pointing
Announcement by UK finance minister, Rishi Sunak One-off top up grants for retail, hospitality, businesses up to £9,000 per property A £594 million discretionary fund set up to support other impacted businesses New lockdown grants to total £4.6 billion For bank trade ideas, check out eFX Plus This comes after Boris Johnson announced a national
By Ranjeetha Pakiam Gold traded near an eight-week high as a surge in global coronavirus cases and curbs stoked demand for the haven, which has been supported by lower US real yields, a weaker dollar, and slumping equities. Bullion has made a strong start to the new year, with the variant strain of the coronavirus
Sterling is currently trading as one of the weakest, as weighed down by the return to tough nationwide lockdown. Selloff in the Pound in crosses is keeping Euro and Swiss Franc afloat. Dollar attempted a rebound overnight, with the pull back in stocks. But there is apparently no follow through buying in the greenback yet.
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