As suggested in the CFTC Commitments of Traders report in the week ended December 8, NET SHORT of USD Index futures more than doubled to 6 486 contracts. Speculative long positions decreased -500 contracts and short positions gained +2 911 contracts. Concerning European currencies, NET LENGTH in EUR futures jumped +16 535 contracts to 156
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Chief of Staff Meadows sends the message White House Chief of Staff Mark Meadows on Friday told Stephen Hahn, the commissioner of the FDA, if the coronavirus vaccine is not approved by the end of day, he should submit his resignation. This is according to sources as reported by the Washington Post. For bank trade ideas, check out eFX
Cottonseed oil cake prices on Friday declined by Rs 4 to Rs 2,048 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices. On the National Commodity and
These numbers are really not a surprise California is reporting a record 35,468 new virus cases. The average test positivity rate rises to 9.7% Covid hospitalizations jump 3.6% to record 12,000 hundred 40 The numbers are really not a surprise coming after the Thanksgiving Day holiday. Bring on the vaccine but the trend is likely to continue
Mumbai: Even as there was a complete shutdown of business in June quarter due to COVID-19 related disruptions, diamond jewellery witnessed sharp recovery from October onwards and the industry is expected to do 70-85 per of last year’s sales, De Beers India Managing Director Sachin Jain has said. “I would certainly predict that we will
Sterling was in free fall last week after both UK and EU admitted that a no-deal Brexit is more likely than not. Negotiation deadline was ended to end of Sunday. Euro and Dollar, followed as the next weakest and focus turned to rally in commodity currencies. In particular, Australian Dollar was pulled up by surging
Forex news for North American trading on December 11, 2020 No Brexit deal. No covid stimulus deal. London may have to go to Tier 3 restrictions as a result of increasing Covid cases. NYC will close all restaurants on Monday. The electoral college will be decided on Monday as the Pres (and some states) look to orchestrate a Supreme
Oil prices settled lower on Friday, as demand worries due to new coronavirus-related restrictions on business in New York overshadowed progress toward vaccination programs. Brent futures settled down 28 cents, or 0.6% at $49.97 a barrel. The contract rose above $51 a barrel on Thursday to an early-March high. U.S. West Texas Intermediate (WTI) crude
As promised, the ECB “recalibrated” the existing monetary policy measures at the December meeting. The aim is to ensure that the current level of stimulus remains in presence through to 2020. On the economic projections, the staff revised lower the GDP growth forecast for 2021 but higher for 2022. Inflation forecasts were downgraded quote significantly.
US electoral vote. FOMC, Bank of England, Swiss National Bank and Bank of Japan interest rate decisions What’s on tap for next week. Monday: US electoral vote Tuesday: Bank of Canada Gov. Macklem speaks. 2:30 PM ET/1930 GMT. Wednesday: OPEC meeting all day France flash PMI services index, 3:15 AM ET/0815 GMT. Estimate 39.1 vs. 38.8 last
Gold futures on Friday fell by 0.13 per cent to Rs 49,015 per 10 gram as participants offloaded their holdings on low spot demand. On the Multi Commodity Exchange, gold prices for February delivery declined by Rs 62, or 0.13 per cent, to Rs 49,015 per 10 gram in a business turnover of 11,849 lots.
Sterling’s selloff accelerates further today after leaders from both EU and UK admitted that their negotiations positions are still part. No-deal Brexit is now seen as the most likely scenario, and we should know very soon by the end of Sunday. Dollar and Yen recover mildly today, on mild risk-off mode ahead of the weekend.
Forex news for Asia-Pacific trade on December 11, 2020: Markets: Gold up $1 to $1837 Nikke down 0.4% AUD leads, NZD lags Newsflow was minimal but there was some decent price action for a ‘quiet’ Friday. The direction was a continuation of the Friday trade in New York as the dollar was sold once again
NEW DELHI: Gold futures edged higher while silver futures were trading flat in Friday’s session as concerns over the delays in the US stimulus package, rising unemployment in the world’s largest economy and Brexit overshadowed optimism over ECB stimulus announced in the previous session. A weak dollar that hovered near a two-and-a-half-year low also pushed
Accelerating rally in iron ore prices pushes Australian broadly higher today, on the back of steadily firm risk sentiment. The Aussie is currently the strongest one for the week, followed by New Zealand Dollar, while Canadian is not far away, with help from oil prices. Sterling remains the worst one, on the “strong possibility” of
What can we expect going forward It was announced yesterday that 17 state Atty. Gen.’s sided with Texas in their attempt to sue and throw out the votes from the key battleground states of Wisconsin, Michigan, Pennsylvania and Georgia. So what’s next: The states named as prospective defendants must file their responses to the Supreme
Oil surged above $50 a barrel on Thursday for the first time since early March as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in U.S. crude inventories that showed there was still ample supply available. Britain began vaccinations this week and they could start as soon