Dollar falls broadly in early US session after much worse than expected jobless claims data, confirming the impact of the current wave of coronavirus pandemic. Yen is not far behind for now as second weakest. But Sterling is also facing some selling pressure on Brexit impasse. Commodity currencies are currently the strongest ones, as led
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No break in the USD bearishness MUFG Research maintains a bearish bias on the USD into the year-end. “US Treasury Secretary Steve Mnuchin presented a new plan to Nancy Pelosi and Chuck Schumer. The USD 916bn plan includes state and local government aid and liability protection for businesses – the two opposing issues that have
Oil prices climbed on Wednesday as news about COVID-19 vaccines lifted investor hopes for a recovery in fuel demand and the U.S. dollar, in which oil is traded, reached 2 1/2-year lows. Brent crude rose 51 cents, or 1%, to $49.35 a barrel by 1405 GMT. U.S. West Texas Intermediate (WTI) crude CLc1> climbed 51
The country recorded deflation for the first time since October 2009. Headline CPI contracted -0.5% y/y in November, compared with consensus of a flat reading and a +0.5% gain in October. Food inflation dropped -2% y/y in November following a +2.2% gain in October. Of which egg and pork prices showed the biggest decline, falling
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
Gold prices fell Rs 118 to Rs 49,221 per 10 gram in the national capital on Wednesday on a weak global trend, according to HDFC Securities. The precious metal had closed at Rs 49,339 per 10 gram in the previous trade. Silver prices also declined Rs 875 to Rs 63,410 per kg, from Rs 64,285
Sterling rebounds strongly today on hope that the physical meeting between the leaders of UK and EU would yield some positive progress on post Brexit trade talks. Yet, traders are not too committed on the bullish side yet, after Prime Minister Boris Johnson reiterated his hard-line stance. Australian Dollar is currently the stronger on ,
Bigger moves in equities than FX A modest risk-positive move is percolating in the FX market as the commodity currencies and euro begin to get a bid. It’s a huge day for sterling as Boris Johnson travels to Brussels to try to break a deadlock in Brexit negotiations. So far, GBP is keeping pace on
Gold prices zoomed Rs 816 to Rs 49,430 per 10 gram in the national capital on Tuesday on a positive global trend, according to HDFC Securities. The precious metal had closed at Rs 48,614 per 10 gram in the previous trade. Silver also witnessed hectic demand, with prices jumping Rs 3,063 to Rs 64,361 per
After the adjustment in asset purchases in October, we expect BOC to keep the powder dry this week, at its last meeting in the year. Policymakers will caution about the rising number of coronavirus cases and economic impacts of tighter restrictive measures, while noting positive news about vaccine. The central bank will reiterate that accommodative
Preliminary productivity for third-quarter was 4.9% 2nd quarter productivity came in at 10.6% US third-quarter productivity dips to 4.6% from 4.9% in the preliminary report. The estimate was for 4.9% unit labor costs fell -6.6% vs. -8.9% estimate and -8.9% previously reported unit labor costs in the 2nd quarter rose by 8.5% output rose by 43.4%
Pune: The price of chana dal and tur are falling, raising concerns that they would trade below the minimum support price (MSP). NCDEX chana futures for March delivery, at Rs 46/kg, have fallen below the MSP of Rs 51/kg. Chana dal, which was selling at Rs 72/kg, is now selling at Rs 60/kg. The March
Trading in the forex markets is rather subdued today. Major pairs and crosses are staying inside yesterday’s range for now. Dollar and Yen turn softer. Sterling is in a weak recovery, but lacks follow through buying. It’s too hard for traders to commit to a bet on a trade deal between UK and EU, or
US also expected to approve vaccine Trudeau said yesterday that Canada could receive up to 249,000 vaccines doses before year end (it takes two doses to be vaccinated). There are 35 million people in Canada so that won’t make a big dent, but it will protect some of the vulnerable. On the spending side, Trudeau
Oil prices slipped on Monday as the positive impact from COVID-19 vaccines and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between the United States and China. Brent crude fell 36 cents, or 0.7%, to $48.89 a barrel by 1112 GMT. U.S. crude was down 39 cents,
The forex markets are quiet in a typical Asian session on Monday. Yen and Swiss Franc are trading slightly higher as Asian stocks pull back from recent rally. While exports number from China look strong, imports growth clearly lagged behind. Sterling is currently the weaker one as Brexit negotiations are still carrying on, and running
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
Gold prices fell on Monday on overall optimism over this week’s coronavirus vaccine rollout in Britain and as the dollar bounced off a multi-year low. Spot gold prices were 0.3% lower at $1,832.30 per ounce by 1027 GMT, while U.S. gold futures were down 0.2% at $1,836.10. “The European session is focused on the Brexit