Expectations were for a $23 billion auction As the treasury auctions continue at an increasing pace, the US treasury has a announced that they will auction off $25 billion of 20 year bonds next week. That was higher than the 23 billion expected. Later today the treasury will complete their refunding for the week with the
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By Swansy AfonsoThe biggest drop in gold prices in nearly seven years wasn’t enough to pull Indian buyers back to stores and they are likely to stay on the sidelines as volatility increases. Domestic gold prices fell by the most since October 2013 on Tuesday, capping this year’s rally at 33%. Gold has recouped some
Dollar continues to trade with a soft tone despite better than expected jobless claims data. The decline in claims data is seen more as a result of expiration USD 600 a week supplemental federal benefits, rather than the improvement in the labor market conditions. For now, though, New Zealand Dollar and Yen are the worst
Forex news for Asia trading Thursday 13 August 2020 Sellers of US dollars prevailed during the session here as currencies gained pretty much across the board. Even gold managed to head back up towards its US-time high. News flow was light, we did get comments from US Treasury Secretary Mnuchin that strongly indicated the two
Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker US dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal. FUNDAMENTALS Spot gold was up 0.7% at $1,930.78 per ounce by 0034 GMT. US gold futures eased 0.5%
New Zealand Dollar tumbles broadly today as weighed down by double-whammy of RBNZ QE expansion and return to lockdown. The selloff in Kiwi is somewhat dragging down Aussie and Canadian too. On the other hand, Dollar is staging a strong rebound, with help from much steeper than expected correction in Gold price. The strong rebound
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By David Fickling Has gold’s bubble just burst? The spot metal fell 5.7 per cent Tuesday, the sharpest drop in seven years and a remarkable slump for an asset that rarely shifts more than a percentage point in a day. It fell further Wednesday, as low as $1,863 an ounce, breaking the back of an
Yen is trading as the worst performing today so far, as pressured by surge in US treasury yields. In particular, 10-year yield is above 0.68 handle in pre-markets and could even challenge 0.7% today. US futures also point to higher open with S&P 500 could finally challenge record high. New Zealand Dollar remains one of
Forex news for Asia trading Wednesday 12 August 2020 Overnight moves continued in Asia today, most notably for precious metals with gold dropping further, under USD1,900, as did silver, under $23.50 at one point. Late US announcement of margin hikes weighed on less well funded traders and contributed to the further declines here in Asia
(This story originally appeared in on Aug 12, 2020) Chennai: Gold and silver prices fell for the third day in a row, amid the dollar holding on to gains and Russia’s announcement of a Covid-19 vaccine. Spot price for 24 carat gold in India fell over 5% to Rs 52,440 per 10 gram, while the
Crude oil prices remained firm, after the rally in July. The front-month WTI crude oil contract gained +2.36% in the first week of August, after gaining +2.55% in the month of July. The Brent contract rose +2.54%, following a +5.22% rally in July. Profit-taking might be seen in coming weeks, in particular concerns over the
The outlook from NAB Research NAB Research discusses AUD/USD technical outlook and sees a scope for short-term correction towards 0.7032/82 in the next 1-2 weeks. “Friday produced a new 2020 high at 0.7243 before closing at 0.7157 and completing a bearish ST (daily) reversal pattern. Such a trigger implies that the uptrend has reached a
Sales of cooking oils have recovered significantly and are likely to reach pre-Covid levels in four to six months, industry executives said. Average monthly sales had fallen sharply from 1.9 to 2 million tonnes before the pandemic. The market improved in July, said BV Mehta, executive director of Solvent Extractors’ Association of India. “The market
The global financial markets continue to trade in full risk-on mode today. In particular, US futures point to sharply higher open as S&P 500 would likely take on new record high. Canadian Dollar is currently the strongest one for today, as lifted by mildly higher oil price. Australian Dollar follows as the second strongest. Euro
There was plenty of news of this on Monday and its continuing again today. one person is reported dead so far people in cars are running down police (see the tweet accompanying this post for video of police being run down … ugly scenes) For bank trade ideas, check out eFX Plus
Gold bugs – investors perpetually bullish on gold – have long been seen as a paranoid fringe of the financial world, holding the shiny asset as a hedge against a disaster they always think is near. But lately they appear to be on to something. This year gold is the best performing traditional asset in
The week starts with a rather subdued tone without much activity. It’s National Day of Singapore while Japan is also on Mountain Day holiday. There is also no further price movements on US-China tensions. Major forex pairs and crosses are stuck inside Friday’s range, with Dollar and Swiss Franc slightly softer. New Zealand Dollar is