LONDON: Oil prices fell on Friday, erasing an earlier rise but still leaving both benchmarks on track for their biggest weekly gains since early June on the back of supply cuts caused by a storm in the Gulf of Mexico and a strike of offshore workers in Norway. Brent was down 31 cents at $43.03
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Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump’s coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too. On the other hand, Canadian Dollar was doubled boosted by
Forex news for North American trading on October 9, 2020. Oh Canada! The US employment data was released last Friday, so Canada had all the attention to itself today when they released their jobs report for the month of September. The numbers did not disappoint. The net change in employment rose by 378.2K vs. expectations of 150K. Most of the job gains were in full-time employment with
BENGALURU/MUMBAI: Physical gold was sold at a premium in India this week for the first time since mid-August as jewellers stocked up, hoping key festivals would bring customers back to stores. Indians will celebrate Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Industry is banking on festivals
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move in risk markets. Global stock markets seem to have stay in a risk-on mode, with
2- weeks after Super Spreader event Pres. Trump is hosting an in-person “law and order” event Saturday at the White House. The meeting would be 2-weeks to the day from the so called “super spreader” event to introduce Amy Coney Barrett as the SC nominee. I would assume there would be a better social distance
Gold rose by more than 1% on Friday and was on course for a second straight weekly gain as the dollar weakened and renewed negotiations for U.S. stimulus prompted investors to buy bullion as a hedge against inflation. Spot gold was up 1.2% to $1,915.36 per ounce by 1135 GMT, up 0.9% this week. U.S.
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week’s strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are back on risk on mode. As
Little change observed in early trades German DAX futures flat UK FTSE futures +0.1% Spanish IBEX futures +0.1% After yesterday’s gains, the mood in Europe is more muted to start the new day. US futures may still be riding some of the stimulus high but sentiment in Europe is still looking more mixed with the
Latest data released by INSEE – 9 October 2020 Prior +3.8% Industrial production -6.2% vs -5.7% y/y expected Prior -8.3% Manufacturing production +1.0% vs +2.4% m/m expected Prior +4.5% Manufacturing production -7.0% vs -5.5% y/y expected Prior -8.5% French factory activity is seen improving still in August, though less than estimated, but there isn’t anything
TOKYO: Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%. Brent was down by 9 cents at $43.25 a
NEW DELHI: Gold and silver prices were trading with gains on Friday following the trend in international markets as dollar skidded and hopes of an economic stimulus grew. In an interview, US President Donald Trump said there was a good chance a deal over COVID-19 relief could be reached, but gave no other details about
The message sent from the ECB minutes came in more dovish that the meeting statement released a few weeks ago. Policymakers were concerned about the inflation outlook more than previously expected. Despite upward revisions to the economic projections, the members stressed that there were “key downside risks to the medium-term outlook for price stability, mainly
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the next move. Yen remains the weakest
S&P 500 futures up by ~0.7% For bank trade ideas, check out eFX Plus Risk is looking in a better spot once again to start the session, with the market carrying the more positive mood from yesterday into trading today. I don’t see any notable headlines that might have led to the mini-spike in US
NEW DELHI: Gold and silver prices were trading with minor cuts in Thursday’s session bucking the trend in international markets amid renewed hopes of a stimulus package, albeit smaller than previously talked about. After having shut down the deal’s negotiations on Tuesday, Donald Trump wrote on Twitter that Congress should pass money for airlines, small
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is actively working on negative rates. Euro
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