New Delhi: Guar seed prices on Thursday went down by Rs 6 to Rs 3,973 per 10 quintal in futures trade. On the National Commodity and Derivatives Exchange, guar seed contracts for October delivery was trading at Rs 3,973 down by Rs 6, or 0.15 per cent per 10 quintal with an open interest of
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Risk aversion continues to dominate the markets, on concern of another wave of coronavirus infects, as the Northern Hemisphere is entering in fall and winter. US stocks closed notably lower after brief initial rebound. Asian markets follow with heavy selling, with major indices in deep red. In the currency markets, commodity currencies are extending decline
Reporting that Congress is readying to leave Washington as soon as this week until after the election. Congress is breaking for the rest of September and for most of October. Link here for more. — Yesterday we got the news that a government funding bill is likely to be completed, thus ensuring they all get paid! But for
LONDON: Oil edged up to around $42 a barrel on Wednesday after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains. The American Petroleum Institute, an industry group, said stocks of gasoline and distillate fuel dropped, while crude inventories
Dollar remains the strongest one for today but Swiss Franc and Sterling have overtaken as the next strongest. Sterling is some what helped by solid PMIs but Euro shrugged off the disappointing PMI readings. European stock markets are having a solid rebound today while US equities might further pare back recent losses. We’ll see if
UBS’ asset management arm weighs in on the market outlook later in the year The firm says that they expect some form of emergency approval of between one to three coronavirus vaccines during Q4 2020, adding that they expect “full approval for broad inoculation to begin by the middle of next year”. Considering such a
New Delhi: Copper prices on Wednesday slipped by Rs 3.70 to Rs 527.65 per kg as participants cut down their positions amid muted demand in domestic market. On the Multi Commodity Exchange, copper contracts for the September delivery eased by Rs 3.70, or 0.7 per cent, to Rs 527.65 per kg in a business turnover
As widely anticipated, RBNZ left the OCR unchanged at 0.25% today. The cap of Large Scale Asset Purchase (LSAP) program, a.k.a. QE, also stays at NZD 100B. Meanwhile, the central bank reiterated the forward guidance that the OCR will be “held at 0.25% in accordance with the guidance issued on March 16”. The overall tone
JPM looking at month-end flows as a bullkiush factor next week. Citing past research showing: rebalances from fixed-weight asset allocation portfolios, along with the reversion of option rolling-driven expiry week momentum, tended to cause the market to mean-revert into month-and quarter-end. JPM say that equities have underperformed bonds month-to-date (but outperformed quarter-to-date) (by -5%) a
MUMBAI: The country’s largest commodities exchange MCX on Tuesday announced formal launch of its base metal futures indices from October 19. To be called MCX iComdex base metals index futures, the new indices will start trading from October 19, the bourse said in a statement. The exchange got Sebi approval on June 29, 2020, and
The overall markets are relatively steady today. Dollar attempted for a brief rally in early European session. But it quickly retreated together with mild recovery in stocks. Though, there seems to be no committed buying in the equities market yet, while US futures also point to lower open, risk aversion could come back any time.
Latest data released by CBI – 22 September 2020 Prior -44 Trends selling prices -1 vs -4 expected Prior -5 The slight setback here underscores that any recovery momentum among UK manufacturers remains tepid at best, and the situation may yet get worse once government stimulus starts to run its course ahead of the closing
New Delhi: Silver futures on Tuesday dropped by Rs 916 to Rs 60,400 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for December delivery tumbled by Rs 916, or 1.49 per cent, to Rs 60,400 per kg in a business turnover of 16,360 lots. Silver traded
Asian markets are trading mildly lower today, following the weakness in US overnight. While DOW dropped more than -900 pts during the session, it managed to pare back half of the losses to close down -509.72 pts only. Following that, Dollar and Yen retreated some gains while Gold also recovered. Trading also turned a bit
US Secretary of State Pompeo tweeting: Pompeo is winning over allies to his more aggressive stance on China’s actions. If Biden wins in November I suspect moves against China from the US and allies will not be would back. I’m not the only one thinking this, a post from last week: And, from even earlier
Mumbai: The Multi Commodity Exchange of India (MCX) on Monday said it has witnessed a total delivery of 1,06,814 tonnes in five base metal contracts since January 2019. These five base metals – aluminium, copper, lead, nickel and zinc – were converted into compulsory delivery contracts in a phased manner since January last year, the
Risk aversion builds up momentum in European session and carries forward to the US, with DOW opening down more than -400 pts. New Zealand and Australian Dollars are trading broadly lower, while Sterling is also among the weakest on fear of return to coronavirus lockdown. On the other hand, the safe-have triple of Dollar, Yen
Norway publishes the white paper on its sovereign wealth fund proposals The proposition suggests that the sovereign wealth fund should change its “geographical composition” and should reduce its share holdings of developed markets in Europe, instead increasing its share of US and Canadian stocks. In the bigger picture and long-term horizon, this is something to