Dollar’s selloff accelerates today and better than expected jobless claim data provide no support. European majors are generally firm, with Sterling leading the way this time. But the rally in the Pound is unconvincing so far, with uncertainties over Brexit trade talks. Commodity currencies are relatively mixed, with Canadian Dollar being the weakest. Technically, focus
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Daily thread to exchange ideas and to share your thoughts Major currencies are mostly little changed so far on the day, with the pound sitting a little higher after a rebound from key support in trading yesterday. Cable tested the region around 1.3290-00 and buyers held the level before seeing a push back towards 1.3400 currently, as
NEW DELHI: Metal and energy counters traded mixed on MCX on Thursday. At the same time, most agri commodities were trading with cuts amid swift developments on the vaccine front. Gold was up 0.49 per cent while silver rose 0.47 per cent. Base metal counters were trading mixed with nickel and copper in the red.
Yen trades generally lower today as pressured by surging US treasury yields and mild risk-on sentiments. Dollar and commodity currencies are not too far behind. European majors continue to be strong as led by Euro and Swiss Franc. Sterling is not performing too badly against others as traders are not committing to bet on no-deal
New York Covid statistics New York reports 8973 new virus cases vs. 7285 yesterday Covid cases rise 1.4% vs. 7 day average of 1.1% new deaths total 69 vs. 66 yesterday positivity rate is at 4.63% vs. 4.96% previously hospitalizations 3924 vs. 3774 yesterday Gov. Cuomo also announced that the 1st vaccine delivery to New
Gold rose to an over one-week high on Wednesday on a soft dollar, while signs of progress in discussions over a new U.S. coronavirus relief package bolstered bullion’s appeal as a hedge against possible inflation. Top Senate Republican Mitch McConnell urged the U.S. Congress to pass a $1.4 trillion spending bill including coronavirus stimulus, while
Selloff in Sterling is the main theme for today. UK become the first country to approve Pfizer-BioNTech coronavirus vaccine and shots are due next week. But the good news was overshadowed by Brexit uncertainties. As the negotiation deadline looms it’s reported that EU is insisting not rushing to a bad deal. Indeed, it’s also said that
This is not directly relevant to FX, no (though I suppose there will need to be yen bought for the influx). Its an interesting read nevertheless on what the Japanese government is planning to keep people safe: Vaccines will not be mandatory Visitors who submit proof of a negative coronavirus test and agree to use
NEW DELHI: Gold and silver futures prices slid lower in the morning trade on Wednesday as the US moved towards early vaccination to its people while companies raced towards getting approvals from authorities. US officials on Tuesday unveiled plans to begin vaccinating millions of Americans against Covid-19 as early as mid-December, as infections and hospitalizations
Dollar and Yen were solid off broadly overnight as S&P 500 and NASDAQ extended record runs. More importantly, the greenback has finally broke through a key support level against Euro, confirming down trend resumption. European majors are currently the strongest ones as led by the common currency. Australian Dollar is clearly lagging behind despite stronger
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Gold prices rose Rs 45 to Rs 48,273 per 10 gram in the national capital on Tuesday on a positive global trend, according to HDFC Securities. The yellow metal had closed at Rs 48,228 per 10 gram on Monday. Silver prices also gained Rs 407 to Rs 59,380 per kg, compared with Rs 58,973 per
Yen and Dollar are generally softer today as markets open December on firm footing. Australia Dollar is following as third weakest as diplomatic tension with China worsens. On the other hand, Euro is leading Swiss Franc higher. Manufacturing data from China and UK indicate sustainable recovery for now, while Eurozone PMIs were not too disastrous.
Japan third-quarter corporate data was out earlier, the results are here: Reuters have a recap of the data, and, as you’d expect, cite the impact of the pandemic: coronavirus hit private sector demand, keeping policymakers under pressure to deploy large stimulus to respond to the pandemic. To cope with the virus pain, ruling party lawmakers
Oil prices tumbled on Monday on uncertainty about whether OPEC+ would agree to extend large output cuts at talks this week, but vaccine hopes still kept benchmark crudes on track to rise more than a fifth in November. Brent crude for January delivery, a contract that expires on Monday, dropped 90 cents, or 1.9%, to
After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since the last meeting suggested continued
October pending home sales data: Prior was -2.2% (revised to -2.0%) Second consecutive drop after four gains Sales up 19.5% y/y vs +22.2% prior The year-over-year numbers tell the story in US housing. This is a small setback in what’s been a boom and looks to be a secular trend tied to ultra-low rates and
Gold prices extended their slide to five month lows on Monday as prospects of a vaccine-led boost to the economy cast a shadow over safe-haven assets and set bullion on course for its worst month in four years. Spot gold dipped 1% to $1,770.56 per ounce by 1337 GMT, and was down 5.7% so far