The forex markets are rather steady in Asian session today, after the sharp moves overnight. Asian stocks are rather immune from the mini crash in the US. Still, for the week, Yen and Dollar are currently the strongest ones on risk aversion. Canadian Dollar is the worst performing, suffering from additional drag by oil prices.
News
The Wall Street Journal with remarks from House Leader Pelosi Says the coronavirus relief plan she has been discussing with the White House could change in the lame-duck session of Congress: There’s very little that we have a commitment from them on. We have, shall we say, narrowed our differences What [Mr. Mnuchin] and I
NEW YORK: Oil prices dropped 5% to a three-week low on Wednesday as surging coronavirus infections in the United States and Europe is leading to renewed lockdowns, fanning fears that the unsteady economic recovery will deteriorate. Brent futures fell $2.07, or 5.0%, to $39.13 a barrel by 10:13 a.m. EDT (1413 GMT), while U.S. West
Intensifying worries over out-of-control coronavirus spread in Europe push European stocks to 5-month low today. US futures also point to sharply lower open as this week’s decline would likely extend. Dollar and Yen jump on risk aversion, followed by Swiss Franc to a slightly smaller extend. Australian Dollar and New Zealand Dollar are the worst
Latest data released by Credit Suisse and CFA Society Switzerland For bank trade ideas, check out eFX Plus Economic expectations have slumped heavily, even the readings for the Eurozone (drop from 11.5 to -7.0) and the US (drop from 8.2 to -9.3), and that reflects waning optimism among investors towards the outlook in Q4. As the virus resurgence
New Delhi: Cottonseed oil cake prices on Wednesday increased by Rs 4 to Rs 1,872 per quintal in futures trade as speculators created fresh positions driven by firm spot demand. On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded up by Rs 4, or 0.21 per cent, to Rs
European majors are all trading broadly lower today on worsening coronavirus spread and return to lockdowns. Mild risk aversion keeps the Japanese Yen afloat but it’s outperformed slightly by Aussie, after slightly stronger than expected Australian CPI reading. Dollar is mixed for the moment, benefitting little from risk aversion. Traders remain cautious ahead of US
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Pune: China plans to import large quantities of castor seed from India, which can create a scarcity of raw material for the local edible oils industry, a leading trade body said. “During the last few months, China has been aggressively buying Commodities to bolster their State Reserves. We understand they are also targeting to buy
Dollar weakens again today but stay in very tight range as indecisive trading continues. The stronger than expected durable goods orders were are ignored by the markets. White House’s comment that stimulus deal will be there in “coming weeks” is also shrugged off. Swiss Franc is following Dollar is the weaker one. On the other
Comments by the Chinese foreign ministry For bank trade ideas, check out eFX Plus Tensions between the US and China aren’t going away, regardless of the election result next week. And while the market has been less sensitive to the latest developments, be rest assured that the narrative will carry on for many more years
NEW DELHI: Gold and silver future prices rose in the opening trade on Tuesday tracking trend in international market amid rising Covid-19 cases in western countries, which has resulted in fresh curbs. US House of Representatives Speaker Nancy Pelosi is hopeful that congressional Democrats and the Trump administration can reach agreement on the coronavirus relief
Movements in the forex markets remain relatively limited and indecisive. There were little reaction to the steep decline in US stocks overnight, which is followed by broad based weakness in Asia. For now, Dollar, Yen and Kiwi are the firmer ones for the week. Canadian Dollar remains the worst performing as dragged down by oil
Covid statistics for France Covid cases rise by 26,771 vs. 52,010 on Sunday 257 new deaths is up from 116 on Sunday The case count started to spike higher last week surpassing the previous high at around 32,000. The dip today is typical for the early week, but above the 19,000 seen a week ago today.
Gold fell below the key psychological level of $1,900 on Monday to its lowest in more than a week, pressured by a firmer dollar and stalled progress in talks for a new U.S. coronavirus aid package. Spot gold fell 0.2% to $1,897.71 per ounce by 0908 GMT, after hitting $1,890.19, its lowest since Oct. 15.
Movements in the forex markets are rather limited in European session, with some firmness seen in Dollar and Sterling. One focus is on the selloff in Canadian Dollar, which is dragged down by the steep decline in oil prices. Euro’s mild weakness is also worth a note, as partly weighed down by German sentiment data.
Softer tones observed in early trades German DAX futures -1.5% UK FTSE futures -0.6% Spanish IBEX futures -0.9% Risk is tilted to being ‘off’ as we get the session started, with US futures also seen lower by ~0.7%. Virus jitters are resurfacing with the situation across Europe and the US looking more and more pessimistic
By Ravindra Rao Gold and silver prices traded with cuts in Monday’s session tracking weakness in global markets as US stimulus talks came to a standstill. Globally, gold prices eased to an over one-week low in early Asia trade as the dollar firmed. Here is a trading strategy for the bullion counters: Gold MCX GOLD