Softer tones observed in early trades German DAX futures -1.5% UK FTSE futures -0.6% Spanish IBEX futures -0.9% Risk is tilted to being ‘off’ as we get the session started, with US futures also seen lower by ~0.7%. Virus jitters are resurfacing with the situation across Europe and the US looking more and more pessimistic
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By Ravindra Rao Gold and silver prices traded with cuts in Monday’s session tracking weakness in global markets as US stimulus talks came to a standstill. Globally, gold prices eased to an over one-week low in early Asia trade as the dollar firmed. Here is a trading strategy for the bullion counters: Gold MCX GOLD
Economic data released since the September signaled that the recovery might have lost momentum. This is a worrying signs as renewed lockdown measures in light of the second wave are expected to damage the recovery further. As a preparatory meeting for more stimulus in December, ECB will turn more dovish this month. Stimulus measures to
Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week! Its a normal Monday morning, market liquidity is very thin until it improves as more Asian centres come on online … prices are liable to swing around on not too much at all, so take care
By Laura Hurst and Kevin Crowley Six months on from crude’s era-defining price crash and Big Oil is suffering from whiplash. Prices may have stabilized around $40 a barrel as OPEC+ curbed supply, but as the coronavirus surges through Europe once again, the twin safety nets for majors in previous downturns — refining and trading
According to the CFTC Commitments of Traders report for the week ended October 20, NET LENGTH for crude oil futures jumped +17 551 contracts to 490 348 for the week. Speculative long position rose +14 764 contracts, while shorts dropped -2 787 contracts. For refined oil products, NET LENGTH for gasoline decreased -258 contracts to
Coronavirus daily numbers from Europe: France reports 45,422 cases (positivity rate 16% vs 8% a week ago) UK reports 23,012 cases vs 20,530 the day prior Italy reports 19,644 vs 19,143 Netherlands reports 8669 That’s a new record for Italy/France and the others are all very close. Expect the weekly pattern to show lower numbers
BENGALURU/MUMBAI: Gold premiums in India jumped to their highest in nearly three months this week, as jewellers continued to stock up on hopes of more customers visiting stores as the festive season gathers pace. Indians celebrate Dussehra on Sunday and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Investment demand was good
As suggested in the CFTC Commitments of Traders report in the week ended October 20, USD Index futures returned to NET SHORT of 1 666 contracts. Speculative long positions decreased – 2042 contracts and short positions added +61 contracts. Concerning European currencies, NET LENGTH in EUR futures declined -2 694 contracts to 165 943. NET
Lots of high profile names to announce earnings this week The earnings calendar for the week will ignite with a broad range of some of the biggest of the big names. On Thursday alone we get all the FAANGs sans Netflix (which disappointed with their subscriber numbers this week), but Facebook, Amazon, Apple, and Google
By Casey Wagner and Vildana Hajric Billionaire investor Mike Novogratz is doubling down on a call Bitcoin serves as digital gold. “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” Novogratz, founder and chief executive officer of Galaxy Investment Partners, said in an interview with
Funds were flowing out of US assets last week as Dollar ended as the worst performing major currency. Treasury yields surged as bonds tumbled while stocks gyrated lower. But the movements were not decisive enough yet as the greenback still holds above recent lows against major currencies like Euro and Yen. Dollar trader would probably
Forex news for North American trading on October 23, 2020: Markets: Gold down $2 to $1902 US 10-year yields down 2 bps to 0.836% S&P 500 up 12 points to 3465 (down 0.5% on the week) WTI crude oil down 88-cents to $39.76 EUR leads, GBP lags We may have settled into a pre-election lull
Gold firmed above $1,900 an ounce on Friday, en route to a weekly gain, as the dollar weakened and as investors hedged against uncertainties surrounding the coronavirus pandemic and going into the Nov. 3 U.S. presidential election. Spot gold rose 0.3% to $1,909.10 per ounce by 0946 GMT and was up 0.5% for the week.
Dollar is back under pressure today as global stock markets strengthen mildly before weekend. Though, overall markets are relatively mixed as we’re seeing some strengthen in both Swiss Franc, Euro and Aussie. On the other hand, Sterling, and Canadian are softer. The developments suggest that major pairs and crosses are trading more on their own
Sterling pops on the headlines from Reuters Quick move above 1.31 in cable. France’s government told the fishing industry to ‘brace for impact’. Macron is laying the ground for a compromise on fisheries in Brexit talks, the article says. Fisheries are said to be the remaining major hangup in talks but Macron is softening. France
New Delhi: Gold prices declined by Rs 75 to Rs 51,069 per 10 gram in the national capital on Friday, according to HDFC Securities. The precious metal had closed at Rs 51,144 per 10 gram in the previous trade. Silver prices, however, rose by Rs 121 to Rs 62,933 per kilogram from Rs 62,812 per
It appears that the stock markets couldn’t care less about the last debate before US Presidential election. Major Asian indices are trading in right range with mild gains. Nevertheless, Yen is trying to lead Dollar for a comeback while European majors are losing their strong position. In particular, Euro is pressured against Sterling and Swiss