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The financial markets are staying in consolidative mode. Asian stocks are mixed in tight range, following the mixed closes in US overnight. Gold is trading sideway ahead of key near term support. In the currency markets, Yen and Swiss France are mildly higher, paring some of this week’s losses. Meanwhile, commodity currencies turned softer. The

Comments from the President: Administration will not put on a lockdown under any circumstances Economy is rebounding beyond any expectations Slaqui says he expects to have enough vaccine to immunize 20m Americans in Dec and 20m thereafter Slaqui: Two vaccines and two therapeutics may be granted emergency use authorization by year end This is a

Mumbai: Two leading retail jewellers, each having over two dozen stores pan India, have posted 15-40% higher sales by value this Dhanteras, and one of them has even surpassed last year’s volume by 15%. Aditya Pethe, Director, Waman Hari Pethe Jewellers, attributes the 15% higher sales and hitting almost 90% of last year’s volume at

News of coronavirus vaccine readiness was the biggest market mover last week, solidifying near term risk-on sentiments. Subsequent price actions in major global indices were clearly corrective looking, setting the stage for further rally. Swiss Franc and Yen ended as the worst performing ones, followed by Canadian Dollar, which was dragged down by the pull

Forex news for North American trade on November 13, 2020: Markets: S&P 500 closes at record high, up 1.4% US 10-year yields down 1.3 bps to 0.896% Gold up $11 to $1887 WTI crude down 98-cents to $40.14 GBP leads, USD lags The general theme in New York trade was US dollar selling as the

Gold rose on Friday as increasing coronavirus infections globally re-ignited concerns about the economic toll from the pandemic, while scepticism over the reach of a potential COVID-19 vaccine further boosted the safe-haven metal. Spot gold rose 0.5% to $1,884.76 per ounce by 1:57 p.m. EST (1857 GMT). But bullion was still bound for its worst

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended November 6. Crude oil inventory gained +4.28 mmb (consensus: -0.91 mmb) to 488.71 mmb. Stockpile increased in 2 out of 5 PADDs. However, PADD3 (Gulf

Daily cases approach 200,000 There are various different tallies on the virus but the CDC today puts it at 194,610 from 143,408 yesterday. Generally, the weekly case tend to peak Thurs-Sat with a lull on Monday. Last Friday, US cases were 127K and two weeks ago they were at 78K. Another two weeks at this

The second day of pre-Diwali Dhanteras witnessed a tepid response from shoppers on Friday as gold and silver sales have likely to be fallen by up to 35 per cent year-on-year due to high prices and COVID-19 induced financial distress, although consumers moved to online buying to make most of the festival, jewellers said. The

Yen appears to be trying to reverse the losses posted earlier this week, as helped by pull back in treasury yields. US 10-year yield is trading at around 0.88 a the time of writing, well below this week’s high at 0.975. German 10-year yield is also back pressing -0.55 handle. Still, Yen remains the second

Latest data released by the National Statistics Institute – 13 November 2020 CPI +0.5% vs +0.5% m/m prelim HICP -0.9% vs -1.0% y/y prelim HICP +0.3% vs +0.3% m/m prelim The preliminary report can be found here. Little change to the preliminary report as this just reaffirms softer inflation pressures in the Spanish economy, similar

By Nitin KabadiTraditionally, festivals and weddings have been the major drivers for gold purchases, especially in the jewellery form. Around 20% of annual gold sales happen during Diwali. According to the World Gold Council, India is estimated to have accumulated up to 25,000 tonnes of gold thus far. In financial year 2019, the value of

Commodity currencies turn softer today, following pull back in stocks. On the other hand, Yen, Swiss Franc and Dollar are gaining some grounds. Euro and Sterling are mixed on the sideline. Over the week, Kiwi remains the strongest one, followed by Dollar and then Sterling. Swiss Franc and Yen are the weakest. Fed Chair Jerome

30 year bond auction WI level at 1.674% High yield 1.680%. Vs. WI level of 1.674% Bid to cover 2.29x vs. six-month average of 2.31x Dealers 21.56% vs. six-month average of 22.7% Directs 16.5% vs. six-month average of 13.3% Indirects 61.9% vs. six-month average of 64.1% the auction was a bit of a mixed bag. The WI yield

The International Energy Agency (IEA) on Thursday cut its 2020 global oil demand forecast, citing a resurgence of the Covid-19 pandemic, with vaccines unlikely to have much of an impact until well into next year. The IEA said that as a result of fresh restrictions imposed by governments in an effort to curb the disease,

Sterling suffers notable selling today after slightly weaker than expected Q3 GDP data. Though, pull back against Euro could be a bigger driver for the profit-taking. Elsewhere, better than expected US job data and worse than expected Eurozone production data were generally ignored. For now, Aussie is following the Pound as the second weakest, then

The second-highest daily count on record for Germany This shows that the virus situation isn’t quite abating just yet, but the figure it at least not growing exponentially as it has been doing in October. There are now roughly ~240,000 active cases across the country. For bank trade ideas, check out eFX Plus The number

Gold prices inched lower on Thursday, after dropping over 1% in the previous session, pressured by a firmer dollar and optimism over a COVID-19 vaccine related developments bolstering risk appetite. Spot gold fell 0.1% to $1,863.70 per ounce by 0048 GMT. U.S. gold futures were flat at $1,862.20. The dollar index held steady near a