Yen is trading with an undertone today despite mixed risk markets. Treasury yield is a factor weighing on Yen again, with US 10-year yield staying firm around 0.73 handle. Germany 10-year is also back above -0.4% handle. US stocks open slightly lower, following mild weakness in Europe, but that’s just a mild retreat. Euro and
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Asian equities climb to start the week But the mood has been slightly tempered with going into the closing stages, with gains losing steam a little. That said, the performance on the day is solid – especially for Japanese stocks after the beating last Friday due to Abe’s resignation. The Hang Seng and Shanghai Composite
NEW DELHI: Gold and silver prices advanced on Monday as spike in Covid-19 cases in India threatens to derail the economic recovery. India is also scheduled to report its GDP print later in the day, which is expected to be the worst in decades. Global coronavirus cases surged past 25 million on Sunday as India
We expect RBA would leave the monetary policy unchanged in September. Since March, RBA has been adopting a number of measures to lower the borrowing costs and provide liquidity to the market. These include keeping the cash rate at record low of 0.25%, targeting 3- year government bond yield at 0.25%, a Term Funding Facility
The Oracle of Omaha turns 90 today Warren Buffet celebrates his 90th birthday today as the world’s sixth-richest man. At $82.1 billion, he’s done well for himself. Around the age of 10, he read a book about how to make $1,000 and intuitively grasped the importance of time. In five years, $1,000 earning 10% would
NEW YORK: Refiners have always produced fuel using crude oil. Now some are using grease. A slump in demand for gasoline since the onset of the coronavirus pandemic has several refining companies accelerating their plans to retrofit facilities to produce so-called renewable diesel made from, among other things, used cooking oil from fast-food restaurants. The
Dollar tumbled sharply, and broadly last week as markets perceive Fed’s adoption of average inflation targeting as a dovish move. Nevertheless, selloff were mainly against commodity currencies and, to a lesser extent, Sterling. The greenback ended in range against Euro, Swiss Franc and Gold. Even Gold just gyrated inside recently established range. Yen had every
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
HOUSTON: US energy companies on Saturday continued to restaff offshore oil and gas production facilities in the US Gulf of Mexico, according to data released by the US Department of Interior. There were 122 facilities that were reoccupied as of midday, the data showed. Crude oil production was off 82%, or 1.5 million barrels per
As suggested in the CFTC Commitments of Traders report in the week ended August 25, NET SHORT for USD Index futures added +258 to 7 773 contracts. Speculative long positions declined -5 005 contracts and short positions fell -4 747 contracts. There can be more downside to greenback. Fed Chair Jerome Powell, at the annual
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
MELBOURNE: Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the US oil industry in Louisiana and Texas, with a storm surge weaker than predicted. US West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.4 per cent, to $42.85 a barrel as of 0014
All commodity futures under our coverage were in net speculative long positions last week. NET LENGTH in natural gas futures rose the most as hurricane Laura had raised concerns about supply, outweighing demand worries. NET LENGTH in crude oil futures declined, although price slowly climbed higher. Gold’s NET LENGTH dropped further as price remained in
Forex news for New York trade on August 28, 2020: Markets: Gold up $35 to $1964 WTI crude flat at $42.97 US 10-year yields down 3 bps to 0.72% S&P 500 up 23 points to record 3508 NZD leads, USD lags The resignation of Abe in Japan resonated throughout the world and led to a
By Rajendra Jadhav and Eileen Soreng MUMBAI/BENGALURU: Dealers in India offered the highest discounts on gold in five months this week as a dip in domestic prices failed to revive demand, while in top consumer China prices remained at a sharp discount to the international market. In India discounts of $43 an ounce were offered
At the annual Jackson Hole Symposium, Fed Chair Powell briefed the market on the results of the Fed’s strategic review of its monetary policy strategy. Powell announced the new approach to deal with price stability and maximum employment, the dual mandate of the Fed monetary policy. The Fed will move to average inflation targeting, seeking
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
Kolkata: Domestic gold and silver rose on Friday, tracking firm overseas prices. Bullion prices have gone up in international markets due to weak US dollar and data suggested that the world’s largest economy is struggling from a COVID-19-induced economic slump. Analysts feel that markets could consolidate over the next few sessions and may witness selling