The overall markets are relatively steady today. Dollar attempted for a brief rally in early European session. But it quickly retreated together with mild recovery in stocks. Though, there seems to be no committed buying in the equities market yet, while US futures also point to lower open, risk aversion could come back any time.
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Latest data released by CBI – 22 September 2020 Prior -44 Trends selling prices -1 vs -4 expected Prior -5 The slight setback here underscores that any recovery momentum among UK manufacturers remains tepid at best, and the situation may yet get worse once government stimulus starts to run its course ahead of the closing
New Delhi: Silver futures on Tuesday dropped by Rs 916 to Rs 60,400 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for December delivery tumbled by Rs 916, or 1.49 per cent, to Rs 60,400 per kg in a business turnover of 16,360 lots. Silver traded
Asian markets are trading mildly lower today, following the weakness in US overnight. While DOW dropped more than -900 pts during the session, it managed to pare back half of the losses to close down -509.72 pts only. Following that, Dollar and Yen retreated some gains while Gold also recovered. Trading also turned a bit
US Secretary of State Pompeo tweeting: Pompeo is winning over allies to his more aggressive stance on China’s actions. If Biden wins in November I suspect moves against China from the US and allies will not be would back. I’m not the only one thinking this, a post from last week: And, from even earlier
Mumbai: The Multi Commodity Exchange of India (MCX) on Monday said it has witnessed a total delivery of 1,06,814 tonnes in five base metal contracts since January 2019. These five base metals – aluminium, copper, lead, nickel and zinc – were converted into compulsory delivery contracts in a phased manner since January last year, the
Risk aversion builds up momentum in European session and carries forward to the US, with DOW opening down more than -400 pts. New Zealand and Australian Dollars are trading broadly lower, while Sterling is also among the weakest on fear of return to coronavirus lockdown. On the other hand, the safe-have triple of Dollar, Yen
Norway publishes the white paper on its sovereign wealth fund proposals The proposition suggests that the sovereign wealth fund should change its “geographical composition” and should reduce its share holdings of developed markets in Europe, instead increasing its share of US and Canadian stocks. In the bigger picture and long-term horizon, this is something to
Barclays Commodities Research on Monday raised its oil price forecasts for 2020, citing limited potential downside to its demand outlook. The bank raised its 2020 Brent and U.S. West Texas Intermediate (WTI) price forecasts by $2 to $43 per barrel and $39, respectively. For 2021, the bank expects Brent and WTI prices to average $53
The markets are rather quiet in Asian session with Japan on holiday. Some selloff is seen in Hong Kong stocks but others simply ignored. The forex markets are generally stuck inside Friday’s range, with Dollar and Swiss Franc trading with a soft tone. On the other hand, Aussie and Sterling are so far the firmer
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New Delhi: Aluminium prices on Friday edged up 0.28 per cent to Rs 144.65 per kg in the futures trade as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the September delivery gained 40 paise, or 0.28 per cent, to Rs 144.65
According to the CFTC Commitments of Traders report for the week ended September 15, NET LENGTH for crude oil futures added +378 contracts to 449 744 for the week. Speculative long position rose +11 868 contracts, while shorts also gained +11 490 contracts. For refined oil products, NET LENGTH for gasoline decreased -1 918 contracts
Storm set to strengthen Tropical storm Beta has formed in the gulf of Mexico and threatens heavy rains and a storm surge along the coast in the days ahead. The NHC expects some strengthening later today and hurricane-force winds within 36 hours. “The tropical storm is still feeling some effects of southwesterly wind shear, but
New Delhi: Soybean prices on Friday traded flat at Rs 3,880 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for September delivery traded flat at Rs 3,880 per quintal with an open interest of 1,500 lots. Soybean for October delivery went
As suggested in the CFTC Commitments of Traders report in the week ended September 15, NET SHORT for USD Index futures increased +2 482 to 8 240 contracts. Speculative long positions slipped -97 contracts and short positions gained +2 385 contracts. Concerning European currencies, NET LENGTH in EUR futures declined -18 238 contracts, to 178
The effect will be felt through Presidential polls 87-year-old US Supreme Court Justice Ruth Bader Ginsburg died from cancer on Friday. It was well-known she was receiving treatment for pancreatic cancer but there were no recent indications she was near death. Her death gives Trump and the Republican-controlled Senate an opportunity to replace her with
Gold jewelers in India pinned hopes on an upcoming festival season, with dealers offering discounts for a fifth straight week to lure customers back to shops, as activity remained muted in Asian bullion hubs. In India, discounts eased to $23 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from