Markets suddenly turned into a risk-off mode on the first October surprise. US President Donald Trump and wife Melania had tested positive for coronavirus. Both were going to quarantine with Trump’s scheduled cleared of all travels. Yen surges broadly as reaction. While Dollar follows higher, it’s quickly losing momentum and was overwhelmed by Yen. Commodity
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Global markets are clearly staying in risk-off mode before weekly close. Mixed US job data was largely ignored. Eyes are staying on the development regarding US President Donald Trump’s coronavirus infections, and the impact on the Presidential election which is just around a month away. Yen is currently the strongest one for today, but hasn’t
The firm argues that the aussie should also rebound similarly Westpac’s senior currency strategist, Sean Callow, says that risk appetite will recover after the knee-jerk selloff to Trump testing positive for the coronavirus. “My underlying assumption is that risk appetite multi-month will be underwritten by super-generous global monetary policy settings. It is a clear negative
BENGALURU/MUMBAI: Customers began trickling into jewellery stores in India this week as domestic prices slipped, with dealers hoping for a further rebound in demand going into a busy festival season. Indians celebrate the festivals of Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Slowly, demand has been
Dollar attempted to edge lower earlier today but the bears are still not too committed. Selling has indeed turned to Yen in early US session, after some better than expected US data. The stocks markets are also lacking a clear direction as European indices open higher, but quickly reversed early gains. Australian and New Zealand
The stimulus is flowing We’re into another round of stimulus in most developed countries as the pandemic drags on. The exception is looking to be the United States. Today looks like it’s the make-or-break day for an agreement but it doesn’t look like it’s going in that direction We will know soon; Mnuchin and Pelosi
New Delhi: Refined soya oil prices on Thursday rose by Rs 8.3 to Rs 912.4 per 10 kg in futures trade as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for October delivery gained Rs 8.3, or 0.99 per cent, to Rs 912.4 per 10 kg in 22,070 lots.
The latest economic indicators show that China’s economy continued to recovery in September. NBS’ official manufacturing PMI climbed +0.5 point higher to 51.5 in September, beating consensus of 51.3. The non-manufacturing PMI also increased to 55.9 from 55.2 in August. The composite index gained +0.6 point to 55.1 last month. Focusing of SMEs, Caixin’s manufacturing
Trump signed the Executive Order on Wednesday in the US, so this is overnight news ICYMI. Trump to allow state-backed investments in critical minerals projects in Australia as part of a push to eliminate American industry’s reliance on Chinese suppliers Critical minerals, aka rare earths – China maintains control of about 80 per cent of
NEW DELHI: India has cut the price of locally produced gas for October 2020-March 2021 by about a quarter to a multi-year low of $1.79 per million metric British thermal units (mmBtu), the government said on Wednesday. This would be the lowest price since 2014, when the nation began linking local rates to a formula
The forex markets are generally staying in tight range today, without much reaction to better than expected job data from US and GDP from Canada. Nor was there much movements after comments from ECB President and BoE Chief Economist. Subdued month-end trading is keeping volatility very low. Nevertheless, it’s hopeful that October would start with
Singapore announces that it will lift border restrictions for visitors from Australia and Vietnam from 8 October This adds to travelers from Brunei and New Zealand, which were already approved to enter Singapore in early September. But there will still be a travel restriction applied to Australians from the state of Victoria at this point
NEW DELHI: Gold and silver prices dropped in Wednesday’s session as investors became more hopeful of the US stimulus bill after comments from the Washington lawmakers. US House Speaker Nancy Pelosi said on Tuesday she hoped to have a coronavirus aid deal with the White House this week, after speaking with Treasury Secretary Steve Mnuchin.
Dollar and Yen recover some ground in Asian session but it’s unsure if this week’s pull back is completed yet. There were little reactions to the President debate of Donald Trump and Joe Biden. Asian markets are mixed despite some solid data out of China. DOW future is currently down around -200 pts but it’s
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New Delhi: Silver prices on Tuesday rose by Rs 330 to Rs 60,726 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for December gained Rs 330, or 0.55 per cent, to Rs 60,726 per kg in 16,371 lots. Analysts said the rise
Dollar drops broadly today, partly due to month-end flows, and partly as position adjustment ahead of the first one-on-one Presidential debate between Donald Trump and Joe Biden. Nevertheless, Yen and Canadian Dollar are slightly weaker. On the other hand, Aussie and Kiwi are picking up some steam for a strong rebound. Trading in the stock
Currencies and index futures have both added to their gains in the Asian morning S&P500 eminis are +0.3% or thereabouts News flow is barely existent. Stocks adding to their US timezone gains. Currencies to their Europe time gains (NY time was a bit of a retrace/sidenways). For bank trade ideas, check out eFX Plus