Forex news from the European trading session – 23 November 2020 Headlines: Markets: GBP leads, USD lags on the day European equities higher; E-minis up 0.5% US 10-year yields up 3.3 bps to 0.857% Gold down 0.2% to $1,868.10 WTI up 1.1% to $42.90 Bitcoin up 0.1% to $18,610 Yet another hopeful Monday. That seems
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Zinc prices fell 1.46 per cent to Rs 222 per kg in futures trade on Monday as speculators reduced their exposure taking negative cues from spot market. On the Multi Commodity Exchange, zinc contracts for November delivery traded lower by Rs 3.30, or 1.46 per cent, at Rs 222 per kg in 1,097 lots. Analysts
Dollar’s selloff resumes today as stocks rallies on more positive news on coronavirus treatment. British drugmaker AstraZeneca said it’s vaccine could be around 90% effective, and as many as 200 millions doses could be ready by year end. The news also lifts Sterling to be the best performer so far today. New Zealand Dollar and Euro
Third quarter economic growth in Singapore rebounded: Q3 GDP +9.2% q/q (seasonally adjusted rate) vs. expected 9.5%, prior 7.9% Q3 GDP -5.8% y/y vs. expected -5.8%, prior -7.0% More: The Ministry of Trade and Industry has revised their 2020 GDP growth forecast to -6.5% to -6% (previous forecast -7% to -5%) forecasts 2021 GDP growth of
By Paul Abelsky Saudi Arabia is sacrificing non-oil economic growth with fiscal policies designed to ensure its currency peg’s stability during a period of low crude prices, according to Goldman Sachs Group Inc. “Maintaining the riyal peg at current levels remains a key policy priority for the Saudi authorities,” Farouk Soussa, a London-based analyst at
According to the CFTC Commitments of Traders report for the week ended November 17, NET LENGTH for crude oil futures jumped +17 273 contracts to 480 811 for the week. Speculative long position added +4 502 contracts, while shorts slumped -12 771 contracts. For refined oil products, NET LENGTH for gasoline increased +7 137 contracts
This is not a vaccine, but a treatment. It was administered to Trump when he was crook with the virus. Its still an experimental therapy. an antibody treatment (a monoclonal antibody, as is Eli Lilly’s drug approved by the FDA for similar application back on November 9) aimed at preventing those with the virus from
By Julian LeeAll is not well in the house of OPEC. As the cartel’s oil ministers prepare to meet in just over a week to decide on the next step in their record-breaking output deal, officials in the United Arab Emirates, normally a loyal Saudi ally, are privately questioning the benefits of participating, and may
As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327 contracts to 133 960. NET SHORT
The existing Comprehensive and Economic Trade Agreement (CETA) deal will be ‘rolled over’ as a short-term transitional agreement (small changes are being made to language to accommodate CAD-UK only trade as the original CETA was made when the UK part of the EU). the deal must be approved by both governments (Canada’s Parliament must approve new legislation)
BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week’s range, except versus Kiwi. Euro, and Swiss Franc are the next weakest.
Forex news for New York trading on November 20, 2020: Markets: Gold up $4 to $1870 US 10-year yields down 0.5 bps to 0.82% WTI crude oil up 41-cents to $42.15 S&P 500 down 24 points to 3557 NZD leads, CAD lags The tone overnight was poor on the Fed-Treasury fight over emergency money, along
Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are growing on more new cases and
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Gold was headed for a second weekly decline on Friday on growing optimism about COVID-19 vaccines, with the U.S. Treasury’s call to end emergency loan programmes also limiting bullion’s safe-haven appeal. Spot gold eased 0.1% at $1,866.38 per ounce by 1227 GMT and was down 1.2% for the week. U.S. gold futures were up 0.1%
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they’re generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news of vaccines, or the split between US treasury and Fed. The slow progress of Brexit