Dollar’s selloff extended last week, after rather uneventful Fed meeting. The decline was particularly serious against generally strong European majors. Sterling ended as the strongest one this time, followed by Euro and Swiss Franc. While the greenback was weak, New Zealand and Canadian Dollar were even worse, with the latter weighed down by pull back
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Forex news for North American trading on July 31, 2020: Markets: Gold up $16 to $1972 WTI crude oil up 44-cents to $40.35 US 10-year yields down 1 bps to 0.5347% CAD leads, NZD lags The big story was the move in USD/JPY. It came after some serious jawboning and threats from top Japanese officials
LONDON: Oil prices rose on Friday and were on track for monthly gains, boosted by a weaker dollar in the face of continuing concerns over the recovery of the U.S. economy as the coronavirus ravages the world’s biggest economy and oil consumer. Brent crude was up 31 cents, or 0.7%, at $43.25 a barrel by
The Fed sent a more dovish message at the July meeting, although the monetary policy, as well as the accompanying statement, stayed largely unchanged. Despite improvement of data flow, the members warned that the pace of recovery is depending on the developments of coronavirus pandemic. Fed Chair Jerome Powell at the press conference also reiterated
Dow, S&P, NASDAQ close higher for the 4th consecutive month the month of July is over and all the major indices closed higher for the 4th consecutive month. The S&P index had its second-best July performance since 2010. Apple, Amazon, Facebook all of the way after their earnings release last night. Apple rose up 10.47%.
NEW DELHI: There was a sea of green in the commodities market bullion, base metals and bullion futures rose in tandem as central banks backed the falling economy. Gold rose 0.85 per cent while silver gained 1.72 per cent. Base metal counters climbed up to a per cent. Meanwhile, crude oil added 0.43 per cent
Dollar’s broad based selloff continues in Asian session today. There are increasing concerns that momentum of US economic recovery is starting to falter. The pessimism is somewhat reflected in persistent decline in treasury yields too. Though, Canadian Dollar is even worse as pressured by sharp decline in oil prices. Euro and Sterling continue to stay
Bold move by the rating agency The rating was affirmed at AAA but lowered to negative from stable. That’s how you get yourself a lawsuit. Cites ongoing deterioration in public finances Sees general debt to GDP above 130% by 2021 Expects deficit to narrow to 11% of GDP in 2021 Expects US economy to contract
Pune: The Solvent Extractors Association (SEA), which represents the entire edible oil industry, has opposed the proposal of Soyabean Processors’ Association (SOPA) to put quantitative restrictions on import of soyabean and sunflower oil. SEA has claimed that putting quantitative restrictions will lead to flooding of the palm oil imports into the country. “We understand from
Dollar recovers mildly as markets turned mixed ahead of monthly close, but remains the second weakest for the week. Canadian Dollar is currently still the worst performing, as dragged by oil selloff. But we’ll see if better than expected GDP data could give the Loonie a lift before the final hours. Euro is paring some
Politico has some of the details Democrats blocked a week-long extension Republicans hinted at a four-month extension Pelosi said an extension need to go to Q1 or at least through January Debate for money for state and local governments was ‘contentious’ Democrats looking for nearly $1 trillion for state/local governments There was common ground on
Gold rose on Friday and headed for its biggest monthly gain in 8-1/2 years as the impact of the worsening coronavirus pandemic on the U.S. economy hammered the dollar, prompting investors to seek refuge in bullion. Spot gold was up 0.8% at $1,975.30 an ounce by 0927 GMT, while U.S. gold futures rose 1.5% to
China’s official PMI report reveals that economic activities continued to expand in July. However, the pace of recovery varied across sectors. Manufacturing and construction activities improved faster than expected, thanks to better overseas demand government’s stimulus measures. However, the services sector was dragged as household demand remained weak. Although PBOC has left the policy rate
Yes, really. Key takeaway is that these sorts of comments are made when Japanese authorities are getting concerned about a strengthening yen Senior Ministry of Finance official no comment on forex levels forex stability is important continue to watch forex markets with a sense of urgency That ‘stability’ word – what the official means is
Gold prices fell sharply on Thursday, drifting away from a record peak hit earlier this week, as a slump in US GDP and President Donald Trump’s tweet about delaying the upcoming US elections triggered a sell-off in financial markets. Spot gold dipped 1.2% to $1,947.28 per ounce by 11:54 a.m. EDT (1554 GMT), while US
Commodity currencies are general under pressure today, following global stock markets lower. Record Q2 GDP contraction in Germany and US are weighing on sentiments. Rebound in jobless claims add to concern of double dip recession. US futures also tumble after President Donald Trump floats the idea of delaying 2020 presidential election. Oil appears to be
That’s a big change For all the people who were worried about Trump calling off the election, this is some hard evidence. With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election
Gold fell more than 1% on Thursday as the dollar stalled its slide, with analysts saying bullion may face more resistance in its bid to breach the $2,000 level. Spot gold was down 1% at $1,951.38 per ounce by 1014 GMT. U.S. gold futures eased 0.5% to $1,943.50. The dollar found some support after the