Sterling surges broadly today, as traders apparently cheers Prime Minister Boris Johnson’s defeat in the Lords regarding his internal market bill. But the forex markets are relatively quiet elsewhere. New Zealand Dollar is currently the second strongest, following the Pound. Swiss Franc is the weakest, followed by Canadian and then Dollar. US futures are mixed,
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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
NEW YORK: Oil surged on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine, boosting risk assets around the globe. Brent crude was up $3.14, or 8%, to $42.61 a barrel at 11:24 a.m. EDT (1624 GMT), while U.S. West
The world, at least the financial markets part, is in euphoria today on news that tens of millions doses of coronavirus vaccine are ready this year, to pull it out of the coronavirus pandemic that took away over 1.2 millions lives. DOW future is in massive rally, up around 1500 pts of writing while European
Huge moves in financial markets Big congratulations to Pfizer and all the scientists there who are hopefully going to save us all from covid-19. The benchmark for ‘success’ in the vaccine was 50% efficacy but at 90% this far exceeds that. The market is absolutely loving this and there are going to be some huge
New Delhi: Gold prices rose for the fourth consecutive day on Monday, gaining Rs 277 to Rs 52,183 per 10 gram in the national capital on a strong global trend, according to HDFC Securities.In the previous trade, the yellow metal had closed at Rs 51,906 per 10 gram. Silver prices also jumped Rs 694 to
Yen and Dollar weaken generally in Asian session today as strong risk appetite continues. Notable rally is also seen in gold today, extending its near term rally. New Zealand Dollar is currently leading other commodity currencies higher. European majors are generally mixed. Focus would turn to the neverending Brexit negotiations, as EU chief negotiator Michel
China’s currency has been moving higher against the USD since June. The Financial Times today have a pice up on analysts bullish on the currency. Analysts anticipate additional gains with arrival of more predictable White House After Joe Biden’s victory was declared on Saturday “I think nearly all the volatility has been driven by the
By Julian Lee This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning
Dollar’s decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest one, followed by other commodity currencies. FOMC meeting overnight prompted little reaction. Traders are awaiting
Data was released over the weekend for China trade balance’s last month A surplus of 401.75bn yuan easily beating the expected CNY 320.4bn, prior was CNY 257.68bn Exports +7.6% y/y vs. expected 6.5%, prior was 11.6% Imports +0.9% y/y expected +6.3%, prior was +11.6% USD terms China trade balance: 58.44bn vs. expected $46.30bn, prior was
By Alex Lawler and Rania El Gamal LONDON/DUBAI: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping bring about a record oil output cut.
Politics aside, stock investors were the biggest winners of US presidential elections, while Dollar holders were the losers. The greenback ended as the worst performing one, followed by Yen by a wide margin. Australian Dollar shrugged of RBA easing and ended as the strongest, leading other commodity currencies. European majors were mixed, with Sterling as
AP have called the win for Biden: Also declares Biden has won Pennsylvania Joining in on pronouncing the inevitable, NBC and CNN have also both projected Biden has won the US presidency. Edison Research also. Fox says it has still not made a final call. Which is slow for them, they were leaders on election
By Ravindra RaoKotak Securities Gold MCX gold price witnessed a triangle breakout indicating a bullish trend. Upside momentum could continue for the targets of Rs 52,500 followed by Rs 52,800 levels ,while support holds around Rs 51,450 (swing high turned as demand zone). Relative strength index (RSI) is above 60, suggesting the bulls are in
The latest CFTC Commitments of Traders report covered the period just before the US presidential election. During the week, bets on US futures slipped on both sides amidst the highly uncertain election outcome. With Joe Biden on the way to become the next president, risk appetite has increased significantly. We expect to see USD index
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
Mumbai: Jewellers are betting on recovery and are optimistic that a rebound in the economy and pent up demand will help boost sales during this ‘Dhanteras’ and the industry is likely to do up to 70 per cent of last year’s business. Notwithstanding the ruling high gold prices and ongoing COVID-19 uncertainties, jewellers are expecting