Gold rose by more than 1% on Friday and was on course for a second straight weekly gain as the dollar weakened and renewed negotiations for U.S. stimulus prompted investors to buy bullion as a hedge against inflation. Spot gold was up 1.2% to $1,915.36 per ounce by 1135 GMT, up 0.9% this week. U.S.
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week’s strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are back on risk on mode. As
The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren Keith Bedford | Reuters Years of low interest rates led to excessive risk taking in commercial real estate and will make the current economic downturn even more severe, Boston Federal Reserve President Eric Rosengren said Thursday. The central bank official said he expects
Previewing next week’s key events in the UK, TD Securities analysts noted that the UK wants to finalize the outline of a deal with the EU by October 15. Key quotes “There are high expectations for some high-level give & take to finally push negotiations over the line and into the infamous “tunnel.” However, we
Gold can’t be pinned down There are two lines of thinking on the easy-money trade (low rates & high government spending): Bet on it now because Democrats are way ahead in the polls Wait and see what the election brings I lean to option #2 but maybe I’m being overly cautious. In the past two
UK monthly GDP data for August shows that the economy grew at a pace of less than half compared to estimates It looks like the UK economic recovery has peaked in the summer and things are looking less rosy as we head towards the tail-end of Q3 and going into Q4. Although the report earlier
Little change observed in early trades German DAX futures flat UK FTSE futures +0.1% Spanish IBEX futures +0.1% After yesterday’s gains, the mood in Europe is more muted to start the new day. US futures may still be riding some of the stimulus high but sentiment in Europe is still looking more mixed with the
Latest data released by INSEE – 9 October 2020 Prior +3.8% Industrial production -6.2% vs -5.7% y/y expected Prior -8.3% Manufacturing production +1.0% vs +2.4% m/m expected Prior +4.5% Manufacturing production -7.0% vs -5.5% y/y expected Prior -8.5% French factory activity is seen improving still in August, though less than estimated, but there isn’t anything
TOKYO: Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%. Brent was down by 9 cents at $43.25 a
NEW DELHI: Gold and silver prices were trading with gains on Friday following the trend in international markets as dollar skidded and hopes of an economic stimulus grew. In an interview, US President Donald Trump said there was a good chance a deal over COVID-19 relief could be reached, but gave no other details about
The message sent from the ECB minutes came in more dovish that the meeting statement released a few weeks ago. Policymakers were concerned about the inflation outlook more than previously expected. Despite upward revisions to the economic projections, the members stressed that there were “key downside risks to the medium-term outlook for price stability, mainly
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the next move. Yen remains the weakest
A pedestrian wearing a protective mask carries a Converse Inc. shopping bag while waiting to cross a street in the Soho neighborhood of New York, on Thursday, Aug. 6, 2020. Nina Westervelt | Bloomberg | Getty Images Americans are saving more than ever during the pandemic, and Morgan Stanley says it may be enough to
First-time claims for unemployment benefits totaled 840,000 last week, higher than expected in another sign that the spike in job growth over the summer has cooled heading into the final part of the year. Economists surveyed by Dow Jones had been expecting 825,000 new claims. Though the total was a bit worse than Wall Street
A employee moves pizza boxes before a delivery at a Domino’s Pizza Inc. restaurant in Chantilly, Virginia. Andrew Harrer | Bloomberg | Getty Images Domino’s Pizza on Thursday reported that its quarterly revenue rose 17.9%, led by more U.S. customers ordering pizza delivery during the coronavirus pandemic. But earnings fell short of expectations, hurt by higher
The UK Finance Minister Rishi Sunak said that the September GDP data showed that the economy has grown for four consecutive months. Key quotes “Today’s figures show our economy has grown for 4 consecutive months.” “But I know that many people are worried about the coming winter months.” These comments come after the September month
Economists at Westpac have lifted Australian 2021 growth forecast to 2.8% from 2.5% and 2022 from 2.7% to 3.5% following the 2020/2021 Budget. The AUD/USD pair is holding a tough battle with key resistance below the 0.7200 level. Key quotes “The Budget provides two major sources of policy to boost the economy around household incomes
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