Major indices lower on the week as well The major European indices are closing the week with sharp declines of over 1%. For the week, today’s price action has also increased the declines with the FTSE 100 and Spain’s Ibex the biggest decliners. The provisional closes are showing: German DAX, -1.4% France’s CAC, -1.2% UK’s
Comments by UK vaccine deployment minister, Nadhim Zahawi Vaccine rollout is going well We are vaccinating 140 people per minute on average Letters are going out to those over 70s today For bank trade ideas, check out eFX Plus That’s some encouraging news but we’ll see how things go in the coming weeks/months to be
NEW DELHI: Gold futures prices in the domestic market continued to slide in the morning trade for another day on Monday as a stronger US dollar made bullion expensive for other currency holders, despite expectations of a large Covid-19 relief package in the United States. US President-elect Joe Biden said on Friday that he wants
Dollar opens the week generally higher, as supported by comments from former Fed chair Janet Yellen. Though, at this point, Yen mildly stronger while Swiss Franc is also firm. The triple argues that there is some underlying cautiousness in investor sentiments, despite solid Q4 China data. That’s also reflected in the general weakness in commodity
In recent trade today, the People’s Bank of China (PBOC) set the yuan mid-point against the dollar at 6.4845 vs the last close of 6.4817. About the fix China maintains strict control of the yuan’s rate on the mainland, the current known as CNY which differs from its offshore yuan, or CNH, which not as tightly controlled as
Support at 0.88603 to 0.8878. Low in EURUSD moved to 0.88649 today. The EURGBP bounced off key support for the 2nd consecutive day. Looking at the daily chart, the 0.88603 to 0.8878 area is home to a number of swing levels going back to April 2020. Yesterday, the low price reached 0.88688 and bounced. Today the low price reached 0.88649 and
What the turn lower in UK cases means The UK reported 38,598 new coronavirus cases on Sunday, which is the lowest since December 27 and the clearest sign yet that the UK has gotten the upper hand on the worrisome variant that caused the latest round of lockdowns. It’s a sign that either the variant
Bitcoin (BTC) price has yet to recapture the $40,000 level and traders who were expecting a quick resumption of the uptrend may have been caught off guard by the recent pullback. This could have led to the liquidation of about $500 million worth of cryptocurrency futures positions in the past 24 hours. Over leveraged positions
BOC is widely expected to leave its overnight rate at the effective lower bound of 0.25% in January. The size of asset purchases will also stay unchanged at CAD4B/week. Over the past month, there has been market speculations about the possibility of a micro rate cut since November. While such a move is unlikely at
EUR/GBP is a little higher on the final trading day of the week, amid what appears to be mild profit-taking. The pair rebounded from significant support just above 0.8850. Both EUR and GBP much more focused on global risk appetite and US dollar dynamics as opposed to domestic themes. EUR/GBP is a little higher on
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As suggested in the CFTC Commitments of Traders report in the week ended January 12, NET SHORT of USD Index futures fell -1 045 contracts to 14 952. Speculative long positions dropped -941 contracts, and short positions decreased -1 986 contracts. USD rebounded as talks about Fed’s balance sheet tapering rekindled. However, we do not
Down $1.21 or -2.26% The price of the February WTI crude oil futures is settling at $52.36. That is down -$1.21 or -2.26%. The high price reached $53.83 the low price extended to $51.83. Looking at the hourly chart, the fall today took the price back below its 100 hour moving average of $52.91, and closer
CFTC commitments of traders: EUR longs move back up to December highs Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Weekly forex futures positioning data from the CFTC EUR long 156K vs 143K long last week. Long increased by 13K GBP long 13K vs 4K long last week. Longs
Gold futures market suffered for another week as the US dollar gained. XAU/USD might revisit $1,800 if the short term support at $1,820 fails to hold in the coming week. Gold experienced intense selling pressure in the concluded trading week. The precious metal was not able to pick up momentum following the consistent growth of
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