BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week’s range, except versus Kiwi. Euro, and Swiss Franc are the next weakest.
Kohl’s shares rose more than 5% Tuesday, after Chief Executive Michelle Gass laid out the retailer’s plans to expand in activewear and personal care in 2021, two hot pockets of growth that have accelerated during the coronavirus pandemic. Kohl’s reported a 13.3% decline in quarterly net sales during its third quarter, as the pandemic limited
NZD/USD appreciates for the third consecutive week to reach a 23-month high at 0.6950. The kiwi trades higher as risk appetite returns. NZD/USD is biased higher and might break above 0.6945 – Credit Suisse. The New Zealand dollar is pulling back on Friday’s late trading after having posted a fresh 23-month high at 0.6950. The pair
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Tests swing area over the last few days The EURUSD trades to new lows into the London fix and in the process has moved to test a swing area at 1.18487 to 1.18515. On Wednesday, the low based twice in that area. On Thursday, the price fell below and found intraday sellers against the area
Forex news for New York trading on November 20, 2020: Markets: Gold up $4 to $1870 US 10-year yields down 0.5 bps to 0.82% WTI crude oil up 41-cents to $42.15 S&P 500 down 24 points to 3557 NZD leads, CAD lags The tone overnight was poor on the Fed-Treasury fight over emergency money, along
Holding Bitcoin (BTC) in treasury will soon become a corporate standard. Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already. MicroStrategy stock rallied
Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are growing on more new cases and
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors. The NAR’s chief economist, Lawrence Yun, called the annual increase “a spectacular gain.” The annualized sales rate is the highest
A shopper visits a Lowe’s hardware store in Philadelphia, Pennsylvania, November 4, 2020. Mark Makela | Reuters Lowe’s shares fell Wednesday after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates, weighed down by higher labor costs and investments in its e-commerce business. Its same-store sales surged more than
The S&P 500 sold off in the final hour of trade and S&P 500 futures ended the week close to lows. Uncertainties regarding US politics and the Fed’s emergency lending facilities, coupled with further lockdown concerns weighed. Following a choppy session, the S&P 500 sold off in the final hour of trade, ultimately ending the
Kiwi dollar continues the comeback The US dollar was among the top performers last week but it’s back in the basement this week. At the other end of the spectrum is the New Zealand dollar, which was easily the top performer this week. Looking at NZD/USD, it’s had a nice two-week breakout from the 2020
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Gold was headed for a second weekly decline on Friday on growing optimism about COVID-19 vaccines, with the U.S. Treasury’s call to end emergency loan programmes also limiting bullion’s safe-haven appeal. Spot gold eased 0.1% at $1,866.38 per ounce by 1227 GMT and was down 1.2% for the week. U.S. gold futures were up 0.1%