Sterling remains generally weaker today, on Brexit concerns. But Swiss Franc is apparently worse for now, dropping through a near term support level against the greenback. On the other hand, Yen and Dollar stay firm in mixed Asian markets. Yen is not too troubled by data that showed deeper than estimated economic contraction in Q2.
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LONDON: Oil prices fell on Monday after Saudi Arabia made its deepest monthly price cuts to supply for Asia in five months and as uncertainty over Chinese demand clouds the market’s recovery. Brent crude was trading at $42.03 a barrel, down 63 cents or 1.5%, by 1555 GMT, after earlier sliding to $41.51, its lowest
Sterling’s decline gathers some momentum on resurfacing no-deal Brexit risk. The Pound is currently followed by New Zealand Dollar as the second weakest. Canadian Dollar is the third worst performing so far, follow oil price lower. On the other hand, Yen and Dollar and trading firmer today, despite rebound in European stocks. Overall, though, trading
A better start after the Friday turnaround Eurostoxx +0.3% Germany DAX +0.6% France CAC 40 +0.3% UK FTSE +0.6% Spain IBEX +0.5% This follows the larger softer mood in Asia, but European equities are taking heart in a weakening currency from last week as they kick start the day a little higher. But the overall
NEW DELHI: Commodity futures were trading mixed on Monday on MCX as bullion rose but crude oil slipped amid slowing employment generations and fast rising Covid-19 cases in India. Gold gained 0.22 per cent while silver added 1.34 per cent. In the base metal block, all commodities were trading with cuts with mickel falling the
Gold price slashed more than 1.8% last week. Reasons for the selloff include better-than-expected US employment report, recovery in US dollar and rebound in Treasury yields. Gold’s correction from the peak has lasted for a month with over 6% of loss. More optimistic news about economic recovery and the coronavirus pandemic (e.g. vaccine) could raise
SoftBank up $4B All the talk Friday was about SoftBank’s huge position in equity options and how it may have contributed to the blow-off moves we saw in the tech sector last week. The FT reports that the trade is sitting on a $4 billion trade. For all the attention it has gotten, that strikes
Mumbai: Lured by 14-18% annual risk free return, financial investors have played a key role in record silver delivery worth around Rs 800 crore on commodity bourse MCX. The figure for the September 4 expiry, 30 kilo silver futures contract excludes Friday’s delivery, which will take the value even higher. Financial investors spotted around 2-3%
As suggested in the CFTC Commitments of Traders report in the week ended September 1, NET SHORT for USD Index futures dropped – 1 027 to 6 746 contracts. Speculative long positions added +766 contracts and short positions slipped -261 contracts. NET SHORT could shrink further in the coming week as the greenback rebounded to
The UK Times has the report, saying the European Union is demanding the potential veto. The Times cites senior government officials in the article saying the EU’s chief negotiator, Michel Barnier, is said to be insisting that London must agree not to implement any change to UK legislation that could distort trade with the bloc without
By Anthony Di Paola and Salma El Wardany Saudi Arabia cut pricing for oil sales to Asia and the U.S. for October shipments, a sign that the world’s biggest exporter may see fuel demand wavering amid flare-ups in the coronavirus. State oil producer Saudi Aramco is cutting its benchmark Arab Light crude more than expected
According to the CFTC Commitments of Traders report for the week ended September 1, NET LENGTH for crude oil futures declined further, by -9 784 contracts to, 490 915 for the week. Speculative long position fell -6 429 contracts, but shorts rose +3 355 contracts. NET Length is expected to shrink further with selloff of
Options fever in the equity market The FT report that SoftBank had been buying massive volumes of equity options grabbed all the attention in markets on Friday. Now there are more details of the trade, which is still largely mysterious. From the WSJ: Regulatory filings show SoftBank bought nearly $4 billion of shares in tech
By Prathamesh MallyaIn the past three months (June to August), crude oil prices consolidated with the brent trading in the price range of $37 and $46 range. WTI traded in the range of $34-$44, while the MCX crude oil prices traded in the range Rs 2,800-3,250/bbl in the same time frame. This conundrum has been
Dollar stays firm as recovery continues while Yen is following as the second strongest. While US stocks continued their record run overnight, Asian markets are generally in red outside of Japan. As for today, Euro is currently the worst performing, followed by Sterling, and then Australian Dollar. Focuses will turn to ISM non-manufacturing from US
COVID-19 – The US Food and Drug Administration is getting political heat to approve vaccines prior to the US election. Bloomberg report firms are planning to band together to issue a pledge to not send any Covid-19 vaccine to the FDA for review without extensive safety and efficacy data Bloomberg citing unnamed people familiar with the
KOLKATA: After months of depressed sales due to the lockdown, India’s gold jewellery trade is showing early signs of recovery, with the metal’s restocking reducing the discount by a quarter to $30 per ounce toward the latter half of the week. Bullion dealers were offering a discount of $40 per ounce over the official domestic