New Delhi: Guar gum prices on Wednesday gained Rs 205 to Rs 6,376 per five quintal in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for November delivery traded higher 3.32 per cent, or Rs 205, to Rs 6,376 per five quintal with
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Dollar is under some selling pressure since overnight as US politicians were still optimistic in closing a fresh stimulus deal by election. This appears to be the most volatility triggering theme for the near term for now. Commodity currencies are trying to recover in Asian session today but Aussie and Kiwi remain the weakest for
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
LONDON: Oil prices steadied on Tuesday but remained under pressure from the threat to demand from a global resurgence in coronavirus cases and rising Libyan output. Brent crude futures were trading 2 cents higher at $42.64 a barrel by 1355 GMT. November U.S. West Texas Intermediate (WTI) crude futures fell 37 cents, or 0.9%, to
Markets continue to be dominated by strength of Euro and Swiss Franc today. That comes in spite of surging coronavirus infections in Europe. Meanwhile, the deadlock of Brexit negotiations remain. Traders are apparently adding to bet that more global central banks, like RBA and BoE, are joining the negative interest rate club soon. For now,
Softer tones observed in early trades German DAX futures -0.7% UK FTSE futures -0.4% Spanish IBEX futures -0.7% This owes a bit to some catch-up play to the decline in US stocks yesterday amid fading stimulus hopes, which led to a decline of ~1.6% in Wall Street at the close. Although it should be very
NEW DELHI: Gold and silver prices were trading with cuts in Tuesday’s session tracking the trend in international markets as caution set in ahead of the deadline to reach an agreement on a new US coronavirus stimulus. US House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin “continued to narrow their differences” about
Australia’s Dollar’s decline is resuming today as RBA minutes, as well ass comments from a top official solidify the case for imminent easing in November. Weaker risk sentiments also weigh on commodity currencies in general, after US stocks reversed initial gains to close sharply lower. Euro and Swiss Franc continue to lead the way higher.
UK Johnson spokesman speaking According to a UK Johnson spokesperson: There is no basis to resume talks unless there is a fundamental change of approach a from the EU. UK has noted the EU’s proposal to generally intensify talks Talks with Barnier were constructive Movement needs to come from the EU side as well as the UK
Gold rose about 1% on Monday as the dollar retreated and as expectations of a U.S. stimulus deal being reached ahead of the presidential elections in November bolstered bullion’s appeal as an inflation hedge. Spot gold rose 0.6% to $1,909.80 per ounce by 9:52 a.m. ET (1352 GMT). U.S. gold futures rose 0.4% to $1,913.
Dollar and Yen are back under notable selling pressure today. US investors are apparently ignoring continuing surge in global coronavirus infections, which broke 40m mark. Instead, there is renewed hope of fresh fiscal stimulus, as House Speaker Nancy Pelosi said a pre-election deal remains possible. Meanwhile, UK and EU are resuming Brexit talks. On the
Apart from what has already been posted there is no fresh news flow. NZD caught a bid earlier on here after the election in New Zealand returned the incumbent prime minister with great numbers in the NZ parliament. Ardern is on track to take 64 seats in the 120 seat parliament which means she can
By Grant Smith and Javier Blas When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -16.8 mmb to 1402.34 mmb in the week ended October 9. Crude oil inventory fell -3.82 mmb (consensus: -2.84 mmb) to 489.11 mmb. Stockpile gained in 3 out of 5 PADDs. However, PADD 3
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: Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the COVID-19 pandemic, showed data by the commerce ministry. In the corresponding period a year
WTI crude oil price fluctuated about US$40/bbl last week. Latest forecasts from major oil agencies suggest that impacts of the pandemic on demand will be long-lasting. This could be a barrier for price to go higher. Bets on gold increased in both directions. However, short positions more than doubled those of long as US yields
Moody’s cuts the United Kingdom This isn’t entirely unexpected but you hate to see it. Fitch recently affirmed the UK at AA-, which is the equivalent of Aa3. S&P remains one notch higher at AA but it’s under review. Moody’s cited three reasons for the sovereign downgrade: First, the UKʼs economic strength has diminished since