UK and EU ready to resume talks Negotiators are poised to resume face-to-face talks, Bloomberg reports. They cite one source who says the EU negotiating team is preparing to travel to London “barring any last-minute changes to the plan.” Another source highlighted that this was yet to be confirmed. A third official said that Barnier
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Gold gained on a softer dollar on Thursday and as a mounting number of COVID-19 cases and their economic toll raised investor expectations of further fiscal and monetary support. Spot gold was up 0.5% at $1,813.50 per ounce by 1305 GMT. U.S. gold futures were up 0.4% to $1,812.10. The dollar index held close to
Markets are generally rather quiet in Asian session today, with Thanksgiving holiday in the US in sight. Risk markets are taking a breather after the earlier rally, so do the selloffs in Dollar, Yen and Swiss Franc. Nevertheless the trio remain the weakest ones for the week. On the other hand, New Zealand and Australian
Daily thread to exchange ideas and to share your thoughts The dollar is going to be the key focus amid thinner liquidity conditions, as we see EUR/USD manage a close above 1.1900 for the first time since 1 September, with buyers slowly nudging price higher to start the session. There is some daily resistance closer towards 1.1966
NEW DELHI: Gold and silver futures gained in the morning trade on Thursday as increasing jobless claims in the US showed the world is far from being out of the crisis. The number of Americans filing first-time claims for jobless benefits increased to a seasonally adjusted 778,000 last week amid surging coronavirus cases and business
The minutes for the FOMC meeting in November shows that policymakers were cautiously optimistic about the economic recovery and the impacts of the monetary policy tools on the economic outlook. As negative interest rate has been ruled out, the Fed’s future policy tool is dependent on asset purchases (QE). We are not surprised to see
CDC data today US coronavirus deaths rose by 1989 yesterday; that’s only about 10% below the April peak. There were 165,282 new cases and that’s a bit of good news because a week earlier cases were at 177,000. All else equal, US cases are likely plateauing but given that today is the biggest travel day
Gold regained momentum on Wednesday following a sharp slide toward the $1,800 pivot in the previous sessions, as an unexpected rise in U.S. jobless claims tempered some of the COVID-19 vaccine-led optimism on Wall Street. Spot gold rose 0.3% to $1,812.66 an ounce at 10:15 a.m. EST (1515 GMT), having hit its lowest since July
Dollar’s sell-off slowed mildly as stocks turned into consolidation ahead of Thanksgiving holiday in the US. But for now, the greenback remains the second worst performing for the week, just next to Yen, followed by Swiss Franc. Commodity currencies are strongest together with Sterling. Mixed economic data from US provided little inspirations to investors. It’s
Daily thread to exchange ideas and to share your thoughts It is a bit of a quiet start and may stay that way until we get to North American trading later today. It will be the last ‘real’ trading day of the week, with thinner liquidity conditions set to overshadow the final two days amid the Thanksgiving
NEW DELHI: Gold and silver futures drifted further lower in the morning trade on Wednesday as doubts over government transition in Washington faded, increasing risk appetite. US president-elect Joe Biden moved swiftly to make Cabinet choices after defeating President Donald Trump, who gave the go-ahead for Biden to start receiving daily intelligence briefings, a sign
While vaccine news should be bullish for the oil market, the rally in crude oil price proves short lived. Ahead of next week’s meeting to decide extension of output cuts, a long-term OPEC member, the UAE, reportedly has shown discontent about the output cut deal. There are rumors that the third largest OPEC producer has
Brexit headlines from Gove Asked about odds of a deal, says he’s never been very good at making forecasts Says negotiating team is working around the clock We have clear red lines and won’t cross them I think we all want a deal Sterling hasn’t moved on the headlines and I don’t see anything new
Gold slid to a four-month low on Tuesday, extending a sharp slide from the previous session as optimism over the development of COVID-19 vaccines drove investors to riskier assets. Spot gold dropped 1.3% to $1,812.81 an ounce by 1218 GMT, having touched its lowest since July 17 at $1,804.70, while U.S. gold futures lost 1.5%
Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo’s data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar dropped notably earlier today but there is no clear follow through selling so far. The
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Gold prices eased on Monday as drugmaker AstraZeneca injected fresh optimism into the race for a COVID-19 vaccine, bolstering appetite for riskier assets and overshadowing support for bullion from a weaker dollar. Spot gold had fallen 0.4% to $1,863.21 per ounce by 1328 GMT and U.S. gold futures were 0.6% lower at $1,861.40. Britain‘s AstraZeneca
Sterling opens the week on firm footing as lifted by UK’s trade deal with Canada. There’s also report on increasing expectation of a deal with EU to be sealed this week. New Zealand Dollar is also firm after strong Q3 retail sales rebound. On the other hand, Dollar, Yen and Swiss are trading generally lower,