Storm set to strengthen Tropical storm Beta has formed in the gulf of Mexico and threatens heavy rains and a storm surge along the coast in the days ahead. The NHC expects some strengthening later today and hurricane-force winds within 36 hours. “The tropical storm is still feeling some effects of southwesterly wind shear, but
New Delhi: Soybean prices on Friday traded flat at Rs 3,880 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for September delivery traded flat at Rs 3,880 per quintal with an open interest of 1,500 lots. Soybean for October delivery went
As suggested in the CFTC Commitments of Traders report in the week ended September 15, NET SHORT for USD Index futures increased +2 482 to 8 240 contracts. Speculative long positions slipped -97 contracts and short positions gained +2 385 contracts. Concerning European currencies, NET LENGTH in EUR futures declined -18 238 contracts, to 178
The Fed left rates unchanged in its last meeting before the 2020 presidential election in November. It also indicated rates were unlikely to rise until at least 2023. Three experts weigh in on what the Fed decision means. David Kelly, chief global strategist at JPMorgan Asset Management, said this is unprecedented stimulus. “I don’t think
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A week full of ups and downs The AUDUSD is moving back lower in what is a continuation of the choppy ups and downs seen in trading this week (and going back to September 9). The highs for the week were on Tuesday and Wednesday between 0.7337 and 0.7344. The low for the week was
EU rejects the UK Internal Market Bill – of course! On Thursday Boris Johnson’s Conservative government published their proposed changes to the internal market bill. The bill has received parliamentary approval (House of Commons) but is set to go to the House of Lords to see if the bill is passed into law. The bill would
The effect will be felt through Presidential polls 87-year-old US Supreme Court Justice Ruth Bader Ginsburg died from cancer on Friday. It was well-known she was receiving treatment for pancreatic cancer but there were no recent indications she was near death. Her death gives Trump and the Republican-controlled Senate an opportunity to replace her with
Gold jewelers in India pinned hopes on an upcoming festival season, with dealers offering discounts for a fifth straight week to lure customers back to shops, as activity remained muted in Asian bullion hubs. In India, discounts eased to $23 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from
Yen ended up broadly as the strongest one last week, extending this month’s rebound. Domestically, political uncertainty was cleared with Yoshihide Suga took up the job of Prime Minister, ensuring continuity of Abenomics. Externally, geopolitical risks at the South China Sea and Taiwan Strait heightened while US-China relations deteriorated further. Coronavirus infections came back with
The Federal Reserve kept its pledge to keep interest rates anchored near zero and promised to keep rates there until inflation rises consistently. As the central bank concluded its two-day policy meeting Wednesday, it said short-term rates would remain targeted at 0%-0.25%. Officials also changed their economic forecasts to reflect a smaller decline in GDP
The cryptocurrency market is still in its infancy, and the overpowering sense of possibility is strong. The range of attitudes toward crypto is generally broad, but recent surveys shed light on certain inclinations one way or another. On one hand, we see beginners who venture into projects they fail to fully grasp, and on the
The 0.6780-0.6790 ceiling area was broken but only barely. The NZDUSD traded to its highest level since April 3, 2019, getting above a ceiling area between 0.67803 and 0.6790. That’s the good news for the buyers. The not so good news is that the price can only extend to 0.67969 before rotating back to the
XAU/USD failed to make a decisive move in either direction this week. $1,925 aligns as a critical support for gold. The descending triangle on the daily chart points out to a bearish outlook. The troy ounce of the precious metal fluctuated in a relatively tight range throughout the week and closed with a gain of
S&P leads the way to the downside today The major US indices are closing the red. The S&P and NASDAQ are down for the 2nd straight day and for the 3rd week in a row. All 11 sectors of the S&P closed lower. The S&P was the weakest of the majors. The final numbers are
NEW YORK: Oil prices were unchanged on Friday, weighed after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while supportive signals from an OPEC+ meeting lifted futures. Both the U.S. and Brent crude benchmarks posted weekly gains after Saudi Arabia pressed allies to stick to production