Euro weakens somewhat today after EU finally reached an agreement on the recovery fund. Traders seem to be taking some profits as expectations become news. Though, New Zealand Dollar is even weaker, partly thanks to cross selling, especially against Aussie. Canadian and Aussie are the strongest ones on risk-on sentiments. Asian markets are generally higher
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GlobalDairyTrade (GDT) auction begins at midday in London on Tuesday, the results will come out in the hours following Previous results: Preview via Westpac (in brief): We expect that whole milk powder prices will be unchanged dairy futures market is pointing to a price modest lift Over the remainder of the NZ winter, we anticipate
NEW YORK: Oil prices were little changed on Monday as coronavirus cases increased in many countries, though cautious investor optimism about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies hit by the pandemic curbed losses. Brent crude was down 6 cents, or 0.1%, at $43.08 per barrel by
PBOC has left the policy rate, the 1-year loan prime rate, at 3.85% in July. The 5-year loan prime rate also stays at 4.65%. The decision has been widely anticipated, as the medium lending facility (MLF) rate, the guidance rate for the LPR, was also kept unchanged at 2.95% earlier this month. The central bank
FOX News reporter, Chad Pergram, reaffirms the earlier story Senate majority leader, Mitch McConnell, and House GOP leader, Kevin McCarthy, will be headed to the White House later to discuss the next stimulus bill with Trump and Mnuchin. This adds to the story from earlier in the day here. For bank trade ideas, check out
New Delhi: Aluminium prices on Monday softened by 0.18 per cent to Rs 136.50 per kg in futures trade as speculators cut bets amid subdued demand in spot market. On the Multi Commodity Exchange, aluminium for delivery in July contracts eased by 25 paise, or 0.18 per cent, to Rs 136.50 per kg in a
Euro’s rally continues today as, despite some jitters, it appears that EU would agree on a compromised deal of recovery fund. It’s reported that after marathon negotiations, the Netherlands, Austria, Denmark and Sweden are satisfied with EUR 390B fund being made available as grants with the rest coming as low-interest loans. EU leaders are still in
BusinessNZ Performance of Services Index (PSI), back in expansion for the first time since February this year at 54.1 prior 37.2 Services PMIs pretty much everywhere have been slower to improve than manufacturing PMIs, which makes this NZ result impressive indeed. BusinessNZ chief executive Kirk Hope comments from respondents underlie the two broad effects COVID-19
LONDON: Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even as the crude producers in OPEC+ try to push oil prices higher. OPEC+ is anxious to see higher crude prices as soon as possible but its ambition is likely to
According to the CFTC Commitments of Traders report for the week ended July 14, NET LENGTH for crude oil futures gained +4 434 contracts to 539 751 for the week. Speculative long positions rise +5 715 contracts while shorts added +1 281 contracts. For refined oil products, NET LENGTH for gasoline increased +4 202 contracts
The latest data from Florida Yesterday’s report Cases for the day 10,292 vs. 11,446 yesterday Cases up 3.2% vs. 7 day average of 4.3% Total cases 337,569 vs. 327,241 yesterday Resident hospitalizations 20,632 vs. 20,191 yesterday Hospitalizations +441 vs +366 prior Median age of cases 41 vs. 41 yesterday Total deaths 90 vs. 128 yesterday positivity 12.17%
SINGAPORE: London copper fell on Friday, hit by worsening U.S.-China relations and rising coronavirus infections that could dampen global economic recovery and demand for metals. The Trump administration is considering a ban on travel to the United States for all members of the Chinese Communist Party and their families, a person familiar with the matter
Euro ended last week as the strongest one, as pushed up by hope of an agreement over EU’s post-pandemic recovery fund. The strength was particularly apparent against Swiss Franc and Sterling. Yet, up till the time of writing, there seems to be no consensus reached at the EU summit yet. Dutch Prime Minister Mark Rutte
What moved in the market last week It’s unusual to see this pair on the opposite end of the spectrum. The divergence in AUD and NZD is also odd given the virus outbreak in Victoria. Make sure to save your spot for the July 28 live event. [embedded content] For bank trade ideas, check out
New Delhi: Gold prices in the national capital fell by Rs 271 to Rs 49,729 per 10 grams on Friday amid a strengthening rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 50,000 per 10 grams. Silver also declined by Rs 512 to Rs 53,382 per kg from
As suggested in the CFTC Commitments of Traders report in the week ended July 14, NET SHORT for USD Index futures added +100 to 5 039 contracts. Speculative long positions slipped -13 contracts and short positions gained +87 contracts. Concerning European currencies, NET LENGTH in EUR futures soared +7 315 contracts to 110 912. NET
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BENGALURU/MUMBAI: Physical bullion remained out of favour this week among consumers in top hubs China and India in the grip of the coronavirus, while investors in Singapore and Japan bought gold and silver to safely park their wealth. Discounts in top buyer China deepened to $30-$25 an ounce versus global benchmark prices, from $20-$25 last