Dollar’s selloff intensifies in early US session after ADP job report hugely missed expectations. The strong upward revision in prior month’s figure just make the picture looks worse, exaggeration the steep slowdown in labor market rebound. At this point, Yen is following the greenback as then second weakest, then New Zealand Dollar. On the other
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Investor loans up 8.1% m/m vs. 2% expected and prior of -15.6% Owner occupier +5.5% m/m vs. expected +3.5% and prior -10.2% The ‘prior’ figures (May) were a shocker, of course. June showing some improvement as the country exited lockdowns (Vic going back in in in July will impact next month) For bank trade ideas,
Mumbai: Gold futures October contract hit a record high of Rs 54,480 per 10 gm , before dipping a tad to Rs 54392 late night India time. The rise reflected the jump in overseas gold to $2002.5 an ounce. The August contract, which expires tomorrow, traded at.a premium of Rs 54,560, indicating that sellers could
Dollar turns soft again after momentum for rebound faded quickly. Euro and Swiss Franc are back in control even though they’re still generally range bound. Australian Dollar is following closely after RBA stands pat as widely expected. Recovery is still expected and the central didn’t sound concerned with recent surge in Aussie’s exchange rate. The
Dollar strength is the story today US dollar obituaries were written last week in a bizarre flurry of speculation after a relatively standard drop in the US dollar. There was far too much conflating the ultra long-term with the short term. In any case, cable was always going to be most-vulnerable to a correction because
Mumbai: India’s gold imports in July fell 24 per cent from a year earlier as a rally in local prices to a record high curtailed retail purchases amid lockdown in many towns to curb the spread of the coronavirus, a government source said on Tuesday. The world’s second-biggest consumer of the precious metal imported around
Dollar is having another rally attempt today and appears to be making some progress, at least against the relatively weaker Sterling. At this point, Swiss Franc is the strongest one, followed by the greenback. Australian Dollar is also firm after a non-eventful RBA rate decision. On the other hand, the Pound is the weakest one.
Editor-in-chief of the Global Times Hu Xijin with the tweet: From what I know, given that the US side hasn’t renewed visa of Chinese journalists, Chinese side has prepared for the worst scenario that all Chinese journalists have to leave the US. If that’s the case, Chinese side will retaliate, including targeting US journalists based in
Gold prices retreated from a record high on Monday after the dollar strengthened and investors booked some profits, with the focus now on proposals for new US coronavirus aid to extend relief benefits to jobless Americans. Spot gold fell 0.3% to $1,969.74 per ounce at 12:33 p.m. EDT (1633 GMT), having earlier hit a record
Trading in forex markets is rather subdued today in overall mixed mood. Better than expected manufacturing data provides little lift to sentiments. Coronavirus curfew in Australia’s Victoria state is also shrugged off. Instead, traders are generally cautious ahead of a very busy week. RBA and BoE will meeting while tons of heavy weight data like
Rise in virus cases isn’t helping the mood The Australian dollar is down a half-cent to start the week as concerns grew about a local outbreak. The Melbourne area has been put on stage four lockdown with an 8 pm curfew and no leaving the home except for essentials. That has combined with a broad
Bullion and agricultural commodities were traded higher in Monday’s morning trade, while base metal and energy pack were mixed following global cues. MCX Gold and MCX Silver were up 0.35 per cent and 1.27 per cent, respectively. Meanwhile, crude oil was down 0.32 per cent in the international market. NCDEX Agridex, an agricultural futures index
Dollar starts the month with a much firmer footing, trading broadly higher as the strongest one so far. The rally is particular against Swiss Franc, which is currently the weakest one. Yet the greenback will firstly need to overcome some near term technical levels to convince traders about its underlying strength. Secondly, Dollar will face
Jibun/Markit Manufacturing PMI for July, out earlier Still showing contraction for the sector. Comments from Markit: “Japan’s manufacturing sector remained severely impacted by the COVID-19 pandemic and subsequent downturn in worldwide economic conditions. However, the headline PMI recovered some of the ground lost in the second quarter, helped by the smallest declines in output and
By James Attwood and Jackie Davalos Authorities in Chile are cracking down on water use by mines in the driest desert on earth, threatening future supply in the top copper-producing nation. On Friday, Chile’s environmental agency SMA charged BHP Group’s Escondida for allegedly drawing more water than allowed for almost 15 years in a move
According to the CFTC Commitments of Traders report for the week ended July 28, NET LENGTH for crude oil futures plunged -16 307 contracts to 532 569 for the week. Speculative long position slumped -11 088 contracts, while shorts gained +5 219. For refined oil products, NET LENGTH for gasoline decreased -1 628 contracts to
Weekly FX speculative positioning data from the CFTC EUR long 157K vs 125K long last week. Longs increased by 32K GBP short 25K vs 15K short last week. Shorts increased by 10K JPY long 29K vs 19K long last week. Longs increased by 10K CHF long 8K vs 7K long last week. Longs increase by
NEW YORK: Oil prices rose on Friday and were on track for monthly gains, benefiting from news that U.S. oil output cuts in May were the largest on record. Brent crude LCOc1 settled up 37 cents, or 0.9%, at $43.31 a barrel. US. crude CLc1 was up 35 cents, or 0.9%, at $40.27 after dropping