Data was released over the weekend for China trade balance’s last month A surplus of 401.75bn yuan easily beating the expected CNY 320.4bn, prior was CNY 257.68bn Exports +7.6% y/y vs. expected 6.5%, prior was 11.6% Imports +0.9% y/y expected +6.3%, prior was +11.6% USD terms China trade balance: 58.44bn vs. expected $46.30bn, prior was
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By Alex Lawler and Rania El Gamal LONDON/DUBAI: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping bring about a record oil output cut.
Politics aside, stock investors were the biggest winners of US presidential elections, while Dollar holders were the losers. The greenback ended as the worst performing one, followed by Yen by a wide margin. Australian Dollar shrugged of RBA easing and ended as the strongest, leading other commodity currencies. European majors were mixed, with Sterling as
AP have called the win for Biden: Also declares Biden has won Pennsylvania Joining in on pronouncing the inevitable, NBC and CNN have also both projected Biden has won the US presidency. Edison Research also. Fox says it has still not made a final call. Which is slow for them, they were leaders on election
By Ravindra RaoKotak Securities Gold MCX gold price witnessed a triangle breakout indicating a bullish trend. Upside momentum could continue for the targets of Rs 52,500 followed by Rs 52,800 levels ,while support holds around Rs 51,450 (swing high turned as demand zone). Relative strength index (RSI) is above 60, suggesting the bulls are in
The latest CFTC Commitments of Traders report covered the period just before the US presidential election. During the week, bets on US futures slipped on both sides amidst the highly uncertain election outcome. With Joe Biden on the way to become the next president, risk appetite has increased significantly. We expect to see USD index
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Mumbai: Jewellers are betting on recovery and are optimistic that a rebound in the economy and pent up demand will help boost sales during this ‘Dhanteras’ and the industry is likely to do up to 70 per cent of last year’s business. Notwithstanding the ruling high gold prices and ongoing COVID-19 uncertainties, jewellers are expecting
According to the CFTC Commitments of Traders report for the week ended November 3, NET LENGTH for crude oil futures plunged -29 360 contracts to 442 460 for the week. Speculative long position declined -20 633 contracts, while shorts gained +8 997 contracts. For refined oil products, NET LENGTH for gasoline decreased -8 483 contracts
Forex news for North American trade on November 6, 2020: Markets: Gold up $3 to $1952 US 10-year yields up 6 bps to 0.82% WTI crude oil down $1.37 to $37.43 S&P 500 flat at 3509 CHF leads, AUD lags It was a wild week but the final session was a more-subdued affair as the
BENGALURU/MUMBAI: Gold buying in India lost steam this week as prices scaled a 2-1/2 month peak ahead of major festivals, while discounts in top-consumer China dropped on a surging yuan. Indians celebrate the Diwali and Dhanteras festivals next week. “Retail demand has started falling due to the price rise. Even jewellers have cut down purchases,”
Dollar’s selloff continues today despite stronger than expected employment data. Though, selling focus has turned to against Euro and Swiss Franc. Australian Dollar is taking a breather, together with global stock markets. There is no doubt that Dollar will end as the worst performing one for the week, followed by Yen. Commodity currencies will stay
Sure, sure Aso also adds that the central bank’s ETF purchases are part of its monetary policy actions, not to directly prop up stock prices. This is the usual rhetoric we’ve been getting from Japanese officials for the longest of time now. But we all know that the BOJ pretty much acts accordingly as to
NEW DELHI: Gold and silver future traded mixed in morning trade on Friday as vote counting in the US showed Joseph Biden is most likely to be the President of the country even though the outcome may be challenged in the courts. Biden inched closer to winning the White House, though the outcome hinged on
As widely anticipated, the Fed left the policy rate unchanged at 0-0.25% and asset purchases at US$120B per month. The decisions were made unanimously. The members acknowledged that economic recovery remained under way. Yet, they warned of the downside risks to growth amidst the huge uncertainty of the coronavirus pandemic. The members pledged to use
Isn’t this fun The market does not care about the election at the moment as the fall in volatility leads to massive options activity. Biden’s campaign said they are at 254 electoral college votes now but it may take time to see the full result in Arizona and the margin may tighten. Any additional states
New Delhi: Nickel prices on Thursday rose by 0.19 per cent to Rs 1,159 per kg in futures trade as speculators built fresh positions on rising demand from alloy makers in spot market. On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 2.20, or 0.19 per cent, to Rs 1,159 per kg
Dollar’s selloff finally takes off as market enters into US session today. While the final result of US presidential election is still unknown, investors couldn’t wait to push stocks higher. At the time of writing, Canadian Dollar is trading as a distant second weakest. Sterling is also relatively weak after BoE delivered larger than expected