Sterling had a roller coaster ride today, dropped notably on concerns over the deadlock in Brexit negotiations. Though, it then rebounded on talks that UK is still going to engage in talks after its self imposed mid-October deadline. Additional the country avoided a national coronavirus lockdown. The Pound is indeed the strongest one for today
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The obvious, and necessary, caveat is there are still 3 weeks to go. But, Cook Political Report compiled polls and shows a big lead for Biden in Electoral College votes: To win the presidency its necessary to win the majority of Electoral College votes. Trump did so in 2016 despite getting 3 million votes less
LONDON Oil prices rebounded on Tuesday, drawing support from robust China data although concerns about waning demand elsewhere and supply resumptions in Norway, the Gulf of Mexico and Libya weighed. Brent crude futures rose 60 cents, or 1.4%, to $42.32 a barrel by 0916 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 63 cents,
Sterling softens broadly today as UK unemployment rate rose more than expected while the part of the country is returning to restrictions. Additionally, there appears to be no progress on Brexit negotiation ahead of the EU summit later this week. Australian Dollar is the second weakest as China moves to stop importing the country’s coal.
EU chief Brexit negotiator, Michel Barnier, comments in a tweet He reinforces that there is ‘strong’ EU unity ahead of the European Council meeting later this week and that they will continue to work for a fair Brexit deal in the coming ‘days and weeks’. I think the mention of ‘weeks’ says a lot about
New Delhi: Aluminium prices on Tuesday softened by 0.16 per cent to Rs 152 per kg in futures trade as speculators cut bets amid subdued demand in spot market. On the Multi Commodity Exchange, aluminium for delivery in October contracts eased by 25 paise, or 0.16 per cent, to Rs 152 per kg in a
Dollar is trying to recover in Asian session while Aussie tumbles broadly. Sentiments appear to be turning cautious on news that Johnson & Johnson paused coronavirus vaccine study due to an unexplained illness in a participant. UK also started a tiered system of fresh coronavirus restrictions. WTI crude oil is extending this week’s pull back
An analyst at Bank of America says 3,600 will mark the top. To come between election and inauguration day. Citing investors getting in ahead of good news on: fiscal stimulus, expected in Q4 a coronavirus vaccine, fund managers expecting this in Q1 2021 And also Federal Reserve monetary support for the market, which will peak
Gold retreated slightly from a three-week high, as the dollar recouped some of its losses after a new U.S. coronavirus aid package ran into resistance. Spot gold fell 0.3% to $1,923.81 per ounce by 0737 GMT, after hitting its highest level since Sept. 21 at $1,932.96 earlier in the session. U.S. gold futures were up
PBOC announced over the weekend to lower the FX risk reserve ratio for forward foreign exchange sales from 20% to 0, effective October 12. The move is likely a response to the strength in renminbi (a.k.a. RMB, CNY). The central bank pledged to “maintain the flexibility of the RMB exchange rate and stabilize market expectations,
ONS announced a revision to their methodology in capturing the jobs data The gist of the announcement is that the last few months i.e. pandemic period had been capturing a sample far less representative of the general UK population, which may have resulted in a lower jobless rate as such. Back in February around 67
New Delhi: Zinc prices on Monday rose by Rs 2.75 to Rs 197.95 per kg in futures trade tracking a firm trend in physical markets on the back of pick up in spot demand. On the Multi Commodity Exchange, zinc contracts for October delivery traded higher by Rs 2.75, or 1.41 per cent, at Rs
Asian markets are trading in mixed most, decoupling from strong rally from the US on Friday. The forex markets are also steady. Yen is trading broadly higher and could be riding on the rebound against Dollar to strengthen elsewhere. Dollar is the currently the second strongest for today but it’s merely licking last week’s wounds.
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By Fathin Ungku, Ernest Scheyder SINGAPORE/HOUSTON: When miners at Indonesia’s giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production.But as months of travel curbs dragged on, angry workers blockaded the mine
According to the CFTC Commitments of Traders report for the week ended October 6, NET LENGTH for crude oil futures gained +9 625 contracts to 471 536 for the week. Speculative long position jumped +9 165 contracts, while shorts dropped -460 contracts. For refined oil products, NET LENGTH for gasoline decreased -204 contracts to 56
A record daily raise in the number of newly confirmed COVID-19 cases for France. Elsewhere in Europe: The UK reported more than 15,100 new cases on Saturday. Spain has declared an emergency in Madrid for 15 days Germany has introduced new restrictions, including a curfew on bars and restaurants (11pm) A few updates … sheesh
By Julian Lee Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago. Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face multiple