Gold’s hourly chart shows a bearish reversal pattern. The breakdown has exposed the recent low of $1,948. Gold is currently trading at $1,893 per ounce, representing a 0.65% drop on the day. The decline has confirmed a rising wedge breakdown on the hourly chart. The bearish reversal pattern indicates that the recovery rally from the
The GBP pairs had their spat of Brexit headline volatility, but other pairs not, not so much. The major indices vs. the US dollar open the day with ranges less than 54 points with the exception of the GBPUSD, and that’s where the ranges have remained. In fact, looking at the major pairs at the start
The stimulus is flowing We’re into another round of stimulus in most developed countries as the pandemic drags on. The exception is looking to be the United States. Today looks like it’s the make-or-break day for an agreement but it doesn’t look like it’s going in that direction We will know soon; Mnuchin and Pelosi
New Delhi: Refined soya oil prices on Thursday rose by Rs 8.3 to Rs 912.4 per 10 kg in futures trade as speculators raised their bets. On the National Commodity and Derivatives Exchange, refined soya oil for October delivery gained Rs 8.3, or 0.99 per cent, to Rs 912.4 per 10 kg in 22,070 lots.
The latest economic indicators show that China’s economy continued to recovery in September. NBS’ official manufacturing PMI climbed +0.5 point higher to 51.5 in September, beating consensus of 51.3. The non-manufacturing PMI also increased to 55.9 from 55.2 in August. The composite index gained +0.6 point to 55.1 last month. Focusing of SMEs, Caixin’s manufacturing
The U.S. economy needs more help from the fiscal side to recover from the ongoing impact of the coronavirus pandemic, San Francisco Federal Reserve President Mary Daly said Wednesday. With the White House and congressional leadership still trying to work out details of an aid package, Daly likened the rescue funding so far to a
Bed Bath & Beyond on Thursday reported its first same-store sales increase in nearly four years, as its online business surged more than 80% during the quarter, as shoppers stocked up on disposable face masks, college dorm decor and patio furniture. Its shares surged more than 16% in premarket trading. The company said it saw 2
Challenger Job Cuts in the US rose modestly in September. S&P 500 futures are clinging to strong gains after the data. Planned job cuts in the US-based employers increased by 2.6% from 115,762 in August to 118,762 in September, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. Commenting on the report, “The
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Month results are negative The month of September is now over and the major indices closed lower for the 1st time since March. Moreover the stocks posted the worst September performance since 2011. The good news is that the major indices close higher for the 2nd consecutive quarter and they also closed higher for the day
Trump signed the Executive Order on Wednesday in the US, so this is overnight news ICYMI. Trump to allow state-backed investments in critical minerals projects in Australia as part of a push to eliminate American industry’s reliance on Chinese suppliers Critical minerals, aka rare earths – China maintains control of about 80 per cent of
BitPay recently released a study highlighting four merchants from different businesses that have implemented Bitcoin as a payment method. The parties selected to participate included a gold broker, an online gift card marketplace, a domain registrar that also serves as a hosting service, and an electronics retailer. In the report, the unnamed merchants praised crypto’s
NEW DELHI: India has cut the price of locally produced gas for October 2020-March 2021 by about a quarter to a multi-year low of $1.79 per million metric British thermal units (mmBtu), the government said on Wednesday. This would be the lowest price since 2014, when the nation began linking local rates to a formula
The forex markets are generally staying in tight range today, without much reaction to better than expected job data from US and GDP from Canada. Nor was there much movements after comments from ECB President and BoE Chief Economist. Subdued month-end trading is keeping volatility very low. Nevertheless, it’s hopeful that October would start with
Companies added jobs at a faster-than-expected pace in September due in good part to a surge in manufacturing hires, according to a report Wednesday from ADP. The firm’s monthly private-sector jobs count showed growth of 749,000, ahead of the 600,000 expected from a Dow Jones economist survey. The report, done in conjunction with Moody’s Analytics,
In a CNBC interview, the Fed’eral Reserve’s Daly said the US economy is not out of the woods, needs more fiscal support. Daly adds that the unemployment rate is an ‘overused’ measure, in a very ‘big ditch’ on the labour market. Daly says epidemiologists tell her to expect vaccine or therapeutics by middle of 2021, that’s factored into