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,
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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
Sterling is heavily sold off today as risk of no-deal Brexit is increasing with no major breakthrough in the never-ending negotiations. It’s even unsure if talks will be concluded today, or continues till Wednesday. An European Commission spokesman even refused to “speculate on a last chance date” for the negotiations. Australian Dollar is following as
Beware: This was out earlier The Times earlier reported that Merkel and Macron “agreed to weaken EU demands for a so-called level playing field” citing a Brussels source. That headline just hit a newswire and caused a ripple in GBP that quickly faded (because it’s been out for an hour). Also note that the same
Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations. Brent was up 93 cents, or 1.9%, at $49.64 a barrel by 0748 GMT after gaining
Given the strong hint in the October meeting, the ECB is prone to add monetary easing measures at Thursday’s meeting. We expect to see increase in the size of PEPP and adjustment of TLTRO. As the policy rates have been staying in the negative territory for years, it is unlikely to see further rate cut
WH Peter Navarro (mouthpiece form Pres. Trump) speaking on FOXBusiness. Pres. Elect Biden also speaking. WH Navarro on FoxBusiness is saying: Urges congressional stimulus deal need more unemployment benefits, payment checks need fiscal bridge until vaccines take hold about $1 trillion short of what Americans need for pandemic sees unemployment rate rising again need reboot on the
By Julian Lee A little over a week ago I wrote that oil producers need a mechanism allowing them to respond quickly to changes in the oil market that could be both big and fast. I’m pleased to see that’s what they’ve tried to create, even if it isn’t quite what I had in mind.
Weekly trade from Mitsubishi UFG Currency investors should consider buying AUD/USD, advises MUFG Research in its weekly FX pick. The suggest buying AUD/USD from 0.7435 with a target of 0.7675 and a stop at 0.7225. “We are recommending a long AUD/USD trade idea to further reflect our view that the USD remains vulnerable to further
By Andres Guerra Luz A battle for oil market share in Asia may be coming to a head as the world’s largest crude producers prepare for peak demand, according to some analysts. Strong demand out of Asia has provided one of the few bright spots for an otherwise dreary 2020 for oil consumption as governments
Selloff in the Dollar was the main theme in the currency markets last week. With the arrival of coronavirus vaccines, the global economy looks set to return to normal next year, despite some cautious comments from central bankers. Yen might look worst than Dollar but it is indeed still holding above near term support against
Forex news for North American trading on December 4, 2020 In most years, if a US jobs report can in worse than expectations by 215K jobs, you might expects stocks to move lower, yields to move lower. the USD to move lower. Today, NFP came in at 245K vs 460K estimate and stocks rallied and
A concrete foundation or good learning is a must before branching out to any field in order to make a such venture successful — be it in business or in building a financial portfolio. For proper portfolio diversification, one should try and invest a part of the money in commodities, as this asset class tends
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CFTC commitments of traders: EUR longs remain the largest speculative trader position Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly FX positioning data for the week ending December 1, 2020 EUR long 140K vs 138K long last week. Longs increased by 2K GBP short 8K vs 17K short