Sterling’s selloff was the most decisive move last week. UK-EU negotiations seemed heading to a dead-end as UK published the so-called internal market bill, which violates part of the Brexit Withdrawal Agreement. WTO style of trade relationship after Brexit looks more likely than ever. Technical developments in Sterling pairs suggest that weakness would persist for
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Forex news for North American trading on September 11, 2020: Markets: S&P 500 up 2 points to 3340 US 10-yaer yields down 1 bps to 0.67% Gold down $4 to $1941 WTI crude oil up 2 cents to $37.31 AUD leads, GBP lags The CPI report was largely driven by a jump in used car
MUMBAI/BENGALURU: Physical gold dealers in India were forced to offer discounts for a fourth straight week as bullion remained unattractive for most retail consumers. In India, the second-biggest buyer after China, demand took a further hit due to the strt of ‘Shradh‘, a two-week period considered inauspicious to buy gold and other assets. Local gold
ECB left all the monetary policy measures unchanged in September. The staff upgraded the near-term growth outlook, as well as core inflation forecasts for 2021 and 2022, suggesting the central bank’s optimism over the recovery. Policymakers continued to stress that risks to growth remain skewed to the downside and pledge to “adjust all of its
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
Gold prices dipped on Friday after the European Central Bank stopped short of offering any concrete signals on further stimulus, but lingering economic uncertainties kept the metal on track for a weekly rise. Spot gold eased 0.3% at $1,948.80 per ounce by 10:56 a.m. EDT (1456 GMT), prices were up 0.8% so far this week.
The markets are generally rather steady today, awaiting weekly close. Major European indices are mixed in tight range. US futures point to mildly higher open, arguing that yesterday’s selloff might not extend for now. Commodity currencies are generally firmer today while Dollar and Yen are the weakest. Stronger than expected US CPI readings are ignored.
Latest Chinese credit data for July has been released – 11 September 2020 New yuan loans ¥1,280.0 bn vs ¥1,250.0 bn expected Aggregate financing ¥3,580.0 bn vs ¥2,585.0 bn expected Broad money growth is seen easing a little more as China continues to try and strike a balance between healthy credit growth and not going too easy on deleveraging
NEW DELHI: Barring zinc, all metal, bullion and energy counters were trading with losses on Friday as US lawmakers blocked stimulus bill and unemployment remained relatively high. Gold was down 0.86 per cent while silver dipped 1.61 per cent. In the base metal block, barring zinc, all counters fell with nickel slumping the most at
Sterling weakness remains the unified theme in the markets this week. The Pound remain under pressure in Asian session today while recovery attempt was brief and weak. As for the week, Canadian Dollar is currently the second weakest, in tandem with the sharp decline in oil price. Swiss Franc and Yen are the strongest so
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
Gold jumped 1% on Thursday, as the dollar weakened after the European Central Bank kept its policy unchanged and US jobless claims held at high levels, dimming hopes of a quick economic recovery from the effects of the coronavirus pandemic. Spot gold was up 0.7% to $1,959.93 per ounce at 11:42 a.m. EDT (1542 GMT),
Euro jumps notably as ECB insist that it doesn’t target the exchange rate, despite recent appreciation, suggesting that they’re still comfortable with the current level. The common currency also takes Swiss Franc higher with it. On the other hand, Sterling is left behind as European majors. The Pound suffers another round of selloff as EU
The advice also says that would allow the commission to take legal action against the UK on several grounds A thread by RTE reporter, Tony Connelly: For bank trade ideas, check out eFX Plus 1/ The advice says the UK’s attempt to override elements of the NI Protocol are a “clear breach” of the Withdrawal
NEW DELHI: Gold and silver prices were trading on a flat note in Thursday’s session ahead of European Central Bank (ECB) policy meet outcome later in the day while non-stop rise in the coronavirus cases supported the prices. The ECB is set to announce its rate decision at 1145 GMT on Thursday. Investors will watch
Sterling remains the weakest one for the week, without a doubt in the otherwise mixed forex markets. Overall risk sentiments stabilized with the overnight rebound in US stocks. Dollar has pared back much of this week’s gains together with Yen. Euro is currently the stronger one for today, as helped by cross buying against the
UK PM Johnson is maneuvering to do just that with the accord as part of his reneging on the agreement he signed with the EU. Pelosi with the threat of no trade deal with US if he does. Johnson places what appears to be implacable opposition to his current plan of withdrawing from the agreement
By Diptendu Lahiri Gold firmed on Wednesday on lingering uncertainties stemming from the coronavirus pandemic, but gains were limited as the dollar too gained from safe-haven inflows driven by worries about a delay in the development of a vaccine. Spot gold was up 0.3 per cent at $1,936.47 per ounce by 1302 GMT, shaking off