Dollar’s rebound continues in early US session as positive response to better than expected jobless claims data. For the moment, Swiss Franc is the second strongest, followed by Euro, and both surges against the weak Sterling. Commodity currencies follow as the next weakest, as gold and oil soften. Yen turned mixed as rally in European
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Latest data released by the Federal Statistics Office – 3 September 2020 Prior -0.9% Core CPI -0.4% vs -0.4% y/y expected Prior -0.4% Swiss inflation continues to stay more subdued – no change to July – and this just reaffirms the narrative that the SNB will keep intervening in the market in order to limit
NEW DELHI: Gold and silver prices gained in Thursday’s session after the United States said its jobless claims did not go down as was expected. Meanwhile, India continues to report the highest number of daily cases in the world lifting bullion’s appeal. US private employers hired fewer workers than expected for a second straight month
Crude oil prices plunged more than -2% on profit-taking. The front-month WTI contract settled at US$41.51/bbl, lowest since August 7. The front-month Brent contract fell to US$44.43/bbl, lowest since August 21, at close. WTI-Brent spread widened to US$ 2.92/bbl. The correction came in despite sharp draw in US inventory. Traders were concerned about falls in
WTI crude down 2.6% Reversals are the order of the day and commodity prices are mostly under pressure. Crude has been stuck in a narrow trading range for weeks. Several attempts in the last month to break higher have been beaten back and now the bears are trying their luck. Today’s inventory report was positive
By Alex LawlerLONDON: Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that U.S. crude inventories fell and as surveys showing stronger manufacturing raised hopes of an economic recovery from the coronavirus pandemic. U.S. crude stocks fell by 6.4 million barrels, the American Petroleum Institute (API) said,
Dollar remains generally firm into US session as corrective recovery continues. Much weaker than expected ADP job data is ignored by traders. US stocks are also set to open higher with S&P 500 and NASDAQ extending the record runs. Australian Dollar is currently the weakest one, extending its correction too, after GDP disappointment. Euro is
Asian equities mostly advance after Wall Street gains yesterday Japanese stocks end the day with modest gains, as US equities pushed higher once again in trading yesterday – setting up a more positive mood today. Chinese stocks are looking more flat but the Hang Seng is up slightly by 0.2% currently. Elsewhere, US futures are
NEW DELHI: Traders booked profits in gold and silver as improved domestic factory output raised hopes of a swift economic recovery, making bullion counters unattractive. India’s factory activity grew for the first time in five months with indicators such as power and fuel demand, railway freight and mobility indices also showing improvement. The US also
Australian Dollar tumbles broadly today and it’s trading as the weakest one so far. The decline partly follows worse than expected Q2 GDP data, and partly as profit taking on recent strong rise. Selloff against New Zealand Dollar the latter to be the strongest one. On the other hand, Dollar also recovers in general, digesting
More or a correlation than causation I don’t see anything in Brainard’s comments that would argue for buying the dollar here. She said risks are tilted to the downside and it will take some time for inflation to get closer to target. If anything she’s saying that more accommodation is coming. But the dollar is
By Sonali Paul and Seng Li PengMELBOURNE/SINGAPORE: Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude futures climbed 47 cents, or 1 per cent, to $45.75 a barrel at 0635 GMT. U.S. West Texas Intermediate (WTI)
Sterling overtakes Euro as the strongest currency for today, as cross buying against the latter resumes after brief consolidation. However, Swiss Franc is clearly left behind and it’s trading as the worst performing one. Rallies in Gold and Silver are a factor pressuring the safe haven Franc. Yen is following as the second weakest currencies.
A more positive tilt in early trades German DAX futures +0.8% UK FTSE futures -0.3% Spanish IBEX futures +0.8% European stocks look set to bounce back after a disappointing start to the week yesterday, though the early gains here may be fleeting as US futures aren’t showing the same degree of enthusiasm as we get
KUALA LUMPUR: Malaysian palm oil futures rose to their highest level in nearly a month on Tuesday and are set to extend a three-day winning streak, tracking higher rival soy oil and crude prices. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 58 ringgit, or 2.12%, to 2,796
Euro trades broadly higher in Asian session as it finally takes out near term resistance against Dollar and Yen. Swiss Franc is following the common currency closely as second strongest. Gold is also tracking the Euro higher too. Dollar and Yen continue to stay under broad based pressure. The limelight is currently off Australian Dollar
AUD/JPY is the best trade this month The Australian dollar is up another 25 pips today to cap an impressive month. AUD/USD came into August riding a four-month winning streak and had closed out July with an impressive rally to 0.7200 from 0.7000. It started the month with a sideways move and was down month-to-date
KOLKATA: Indian exporters of non-basmati rice have seen a surge in orders after the price of the grain increased in Vietnam and Thailand. Indian rice is now cheaper than the Southeast Asian varieties by almost $100 per tonne. “Export demand for non-basmati rice remains robust due to price rise in Vietnam and Thailand. Their rice