Yen ended up broadly as the strongest one last week, extending this month’s rebound. Domestically, political uncertainty was cleared with Yoshihide Suga took up the job of Prime Minister, ensuring continuity of Abenomics. Externally, geopolitical risks at the South China Sea and Taiwan Strait heightened while US-China relations deteriorated further. Coronavirus infections came back with
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S&P leads the way to the downside today The major US indices are closing the red. The S&P and NASDAQ are down for the 2nd straight day and for the 3rd week in a row. All 11 sectors of the S&P closed lower. The S&P was the weakest of the majors. The final numbers are
NEW YORK: Oil prices were unchanged on Friday, weighed after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while supportive signals from an OPEC+ meeting lifted futures. Both the U.S. and Brent crude benchmarks posted weekly gains after Saudi Arabia pressed allies to stick to production
BOE voted unanimously to leave the Bank rate unchanged at 0.1%. The asset purchase program also stayed at 745B pound in September. At the meeting, policymakers acknowledged stronger-than-expected recovery in the UK. Yet, they reiterated that the outlook remained highly uncertain as mainly brought about by the coronavirus pandemic. The members only noted that British
Forex news for North American trading on September 18, 2020: Markets: Gold up $6 to $1950 WTI crude oil down 4 cents to $40.93 US 10-year yields up 0.6 bps to 0.695% S&P 500 up 36 points to 3221 NZD leads, GBP lags Quadruple witching was the buzz on Friday and selling equities was the
Gold prices gained on Friday buoyed by a weaker dollar and lingering concerns over an economic recovery from the damage inflicted by the coronavirus pandemic that were underscored by elevated weekly U.S. jobless claims data. Spot gold climbed 0.6% to $1,953.80 per ounce by 0934 GMT and was on track for a second straight week
Yen picks up some upside momentum again today while the forex markets continue to flip-flop elsewhere. Australian Dollar turn softer, followed by Canadian and Swiss Franc. Kiwi is the second strongest next to Yen, followed by Sterling and Dollar. For the week, Yen remains the strongest one. There is potential for further rally should stocks
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NEW DELHI: Barring energy counters, all commodities were trading with gains on Friday as the amir rising worries over slump in the economy across the world. Gold was up 0.11 per cent while silver gained 0.22 per cent. In the base metal block, all counters were up with zinc rising the most at 0.79 per
Dollar is back trading as the weakest one for the week as it’s earlier rally attempt faded quickly. Though, Euro and Swiss Franc are not too far behind as the next weakest. Yen is also paring some of this week’s gain but remains generally firm. New Zealand Dollar is surprisingly the strongest one for the
The groups advising the UK Prime Minister Boris Johnson and his government recommend another two weeks national lockdown. In October. The government’s Scientific Advisory Group for Emergencies (Sage) and the Scientific Pandemic Influenza Group on Modelling (Spi-m) As recently as yesterday UK PM Johnson said again he wanted to avoid national lockdown (limiting restrictions to
Gold slipped as much as 1% on Thursday after the U.S. Federal Reserve disappointed expectations for further stimulus to spur inflation and support the economy, battered by the coronavirus crisis. Spot gold dropped 0.9% to $1,940.96 per ounce by 0951 GMT. U.S. gold futures slipped 1.2% to $1,947.40. “The gold market was somewhat disappointed by
Sterling drops broadly today as BoE minutes indicated that the central bank is already discussing implementation negative interest rates. On the other hand, Yen is currently the strongest one, extending this week’s strong rally. Risk aversion and falling treasury yields are both helping the Yen higher. Dollar lost some momentum after initial post-FOMC rise, but
large number of UK job redundancies ahead? Sobering stuff. Britain’s employers planning twice the number of redundancies as they did in 2009: 380,000 redundancies planned from May to July this year That number could rise to 735,000 according to researchers cited in the article Only 180,000 job cuts were planned from January to March 2009
New Delhi: Emerging markets are going on for a ride and India could be one of the hottest pieces of the pie to have right now, says US-born investment guru Jim Rogers. Indian blue chip indices have surged over 50 per cent from their March lows, and midcap and smallcap indices have seen an even
The Fed left the policy rate unchanged at 0-0.25% and the asset purchases program unchanged in September. There are substantial changes in the policy statement, reflecting the formal adoption of average inflation targeting. Updated economic projections revealed a more optimistic outlook for this year through to 2022. The Fed also has also introduced economic forecast
Trump speaking at a campaign event from the White House Says the thinks distribution of a vaccine could start in October or a little later Says the US could distribute at least 100m doses by the end of 2020 Markets have been lapping up positive vaccine stories even from such very unreliable sources. Treat with
NEW YORK: Oil prices jumped more than 4% on Wednesday, following a drawdown in US crude and gasoline inventories and as Hurricane Sally forced a swath of US offshore production to shut. Brent crude rose $1.64, or 4.1%, to $42.17 a barrel by 12:51 p.m. EDT (1651 GMT), while US crude gained $1.85, or 4.8%,