According to the CFTC Commitments of Traders report for the week ended September 8, NET LENGTH for crude oil futures slumped -41 549 contracts to 449 366 for the week. Speculative long position declined -28 235 contracts, but shorts rose +13 314 contracts. Crude oil prices sank over -6% last week on higher inventory and
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What’s the election trade? Bank of America Global Research maintains a bullish bias on the USD, expecting a broad rally to unfold into the November elections. “We expect a USD rally to unfold into the November election and have recommended long exposure against the more cyclical, higher beta parts of the G10 FX spectrum vulnerable to
By Grant SmithIt was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Organization of Petroleum Exporting Countries and its allies will convene online, and reflect on whether the coranavirus has thwarted their best efforts to keep
As suggested in the CFTC Commitments of Traders report in the week ended September 8, NET SHORT for USD Index futures dropped – 988 to 5 758 contracts. Speculative long positions slipped -895 contracts and short positions fell -1 883 contracts. Concerning European currencies, NET LENGTH in EUR futures added +67 contracts, to 196 814.
You’ll recall last week that clinical trials of the COVID-19 vaccine candidate from Oxford / AstraZeneca were paused: News now that AstraZeneca said it received notification from the UK’s Medicines Health Regulatory Authority that it was safe to resume clinical trials. While trials can now resume in the UK, elsewhere remains unclear; says AstraZeneca in a
NEW DELHI: Chana prices have fallen by 2.3 per cent in the past 10 days after rising 23 per cent since July as the government auctioned over 3 lakh tonnes of the pulse from its stock in the open market, but analysts were divided about the outlook in the futures market.. The September contract for
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
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),