Barclays Commodities Research on Monday raised its oil price forecasts for 2020, citing limited potential downside to its demand outlook. The bank raised its 2020 Brent and U.S. West Texas Intermediate (WTI) price forecasts by $2 to $43 per barrel and $39, respectively. For 2021, the bank expects Brent and WTI prices to average $53
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The markets are rather quiet in Asian session with Japan on holiday. Some selloff is seen in Hong Kong stocks but others simply ignored. The forex markets are generally stuck inside Friday’s range, with Dollar and Swiss Franc trading with a soft tone. On the other hand, Aussie and Sterling are so far the firmer
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 Delhi: Aluminium prices on Friday edged up 0.28 per cent to Rs 144.65 per kg in the futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the September delivery gained 40 paise, or 0.28 per cent, to Rs 144.65
According to the CFTC Commitments of Traders report for the week ended September 15, NET LENGTH for crude oil futures added +378 contracts to 449 744 for the week. Speculative long position rose +11 868 contracts, while shorts also gained +11 490 contracts. For refined oil products, NET LENGTH for gasoline decreased -1 918 contracts
Storm set to strengthen Tropical storm Beta has formed in the gulf of Mexico and threatens heavy rains and a storm surge along the coast in the days ahead. The NHC expects some strengthening later today and hurricane-force winds within 36 hours. “The tropical storm is still feeling some effects of southwesterly wind shear, but
New Delhi: Soybean prices on Friday traded flat at Rs 3,880 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for September delivery traded flat at Rs 3,880 per quintal with an open interest of 1,500 lots. Soybean for October delivery went
As suggested in the CFTC Commitments of Traders report in the week ended September 15, NET SHORT for USD Index futures increased +2 482 to 8 240 contracts. Speculative long positions slipped -97 contracts and short positions gained +2 385 contracts. Concerning European currencies, NET LENGTH in EUR futures declined -18 238 contracts, to 178
The effect will be felt through Presidential polls 87-year-old US Supreme Court Justice Ruth Bader Ginsburg died from cancer on Friday. It was well-known she was receiving treatment for pancreatic cancer but there were no recent indications she was near death. Her death gives Trump and the Republican-controlled Senate an opportunity to replace her with
Gold jewelers in India pinned hopes on an upcoming festival season, with dealers offering discounts for a fifth straight week to lure customers back to shops, as activity remained muted in Asian bullion hubs. In India, discounts eased to $23 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from
Yen ended up broadly as the strongest one last week, extending this month’s rebound. Domestically, political uncertainty was cleared with Yoshihide Suga took up the job of Prime Minister, ensuring continuity of Abenomics. Externally, geopolitical risks at the South China Sea and Taiwan Strait heightened while US-China relations deteriorated further. Coronavirus infections came back with
S&P leads the way to the downside today The major US indices are closing the red. The S&P and NASDAQ are down for the 2nd straight day and for the 3rd week in a row. All 11 sectors of the S&P closed lower. The S&P was the weakest of the majors. The final numbers are
NEW YORK: Oil prices were unchanged on Friday, weighed after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while supportive signals from an OPEC+ meeting lifted futures. Both the U.S. and Brent crude benchmarks posted weekly gains after Saudi Arabia pressed allies to stick to production
BOE voted unanimously to leave the Bank rate unchanged at 0.1%. The asset purchase program also stayed at 745B pound in September. At the meeting, policymakers acknowledged stronger-than-expected recovery in the UK. Yet, they reiterated that the outlook remained highly uncertain as mainly brought about by the coronavirus pandemic. The members only noted that British
Forex news for North American trading on September 18, 2020: Markets: Gold up $6 to $1950 WTI crude oil down 4 cents to $40.93 US 10-year yields up 0.6 bps to 0.695% S&P 500 up 36 points to 3221 NZD leads, GBP lags Quadruple witching was the buzz on Friday and selling equities was the
Gold prices gained on Friday buoyed by a weaker dollar and lingering concerns over an economic recovery from the damage inflicted by the coronavirus pandemic that were underscored by elevated weekly U.S. jobless claims data. Spot gold climbed 0.6% to $1,953.80 per ounce by 0934 GMT and was on track for a second straight week
Yen picks up some upside momentum again today while the forex markets continue to flip-flop elsewhere. Australian Dollar turn softer, followed by Canadian and Swiss Franc. Kiwi is the second strongest next to Yen, followed by Sterling and Dollar. For the week, Yen remains the strongest one. There is potential for further rally should stocks
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