Cable falls to a session low of 1.3175, testing the low on Friday For bank trade ideas, check out eFX Plus The pressure is starting to build for the pound now as sellers are threatening a further move to the downside, in search of a firm break under the 1.3200 handle. The Friday low @
Growing fears of a no-deal Brexit prompted some fresh selling around GBP/USD on Monday. A goodish pickup in the USD demand further contributed to the slide below the 1.3200 mark. The GBP/USD pair failed to capitalize on Friday’s goodish rebound of around 100 pips, instead met with some fresh supply on the first day of
A better start after the Friday turnaround Eurostoxx +0.3% Germany DAX +0.6% France CAC 40 +0.3% UK FTSE +0.6% Spain IBEX +0.5% This follows the larger softer mood in Asia, but European equities are taking heart in a weakening currency from last week as they kick start the day a little higher. But the overall
NEW DELHI: Commodity futures were trading mixed on Monday on MCX as bullion rose but crude oil slipped amid slowing employment generations and fast rising Covid-19 cases in India. Gold gained 0.22 per cent while silver added 1.34 per cent. In the base metal block, all commodities were trading with cuts with mickel falling the
Gold price slashed more than 1.8% last week. Reasons for the selloff include better-than-expected US employment report, recovery in US dollar and rebound in Treasury yields. Gold’s correction from the peak has lasted for a month with over 6% of loss. More optimistic news about economic recovery and the coronavirus pandemic (e.g. vaccine) could raise
The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said. The spike in the deficit means that federal debt will exceed annual gross domestic
Crypto YouTuber Sunny Decree recently saw his livestream cut short by YouTube, with the platform stating the video had violated its ‘harmful and dangerous policy.’ According to a Sept. 5 tweet from Sunny Decree, the video-sharing platform halted his most recent livestream on his English language channel — based in Switzerland, the content creator also
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Out of synch with oil The price of the USDCAD has moved down to test the 100 hour MA at 1.30703. The run lower (higher CAD) is running counter to the price of oil which has slumped in trading today. The price of crude is currently down -$1.57 ro -3.8% at $39.79. Watch the level
Weekend politics is to dominate the open today, starting with a number of headlines pertaining to the knife-edge Brexit negotiations. Bloomberg reports that the UK has warned the EU that talks this week are ‘moment of reckoning’ for a deal. The Sunday Express reports that the UK threatens to starve the EU of cash as Brexit fury reaches boiling
SoftBank up $4B All the talk Friday was about SoftBank’s huge position in equity options and how it may have contributed to the blow-off moves we saw in the tech sector last week. The FT reports that the trade is sitting on a $4 billion trade. For all the attention it has gotten, that strikes
Mumbai: Lured by 14-18% annual risk free return, financial investors have played a key role in record silver delivery worth around Rs 800 crore on commodity bourse MCX. The figure for the September 4 expiry, 30 kilo silver futures contract excludes Friday’s delivery, which will take the value even higher. Financial investors spotted around 2-3%
As suggested in the CFTC Commitments of Traders report in the week ended September 1, NET SHORT for USD Index futures dropped – 1 027 to 6 746 contracts. Speculative long positions added +766 contracts and short positions slipped -261 contracts. NET SHORT could shrink further in the coming week as the greenback rebounded to
A woman takes photos of the container ship Ever Legacy being offloaded after arriving from Taipei at the Port of Los Angeles, which is the nation’s busiest container port, on March 6, 2020 in Terminal Island, California. Mario Tama | Getty Images The U.S. trade deficit surged to its highest level since 2008 in July
Rotation lower after spike higher stalls ahead of the week’s high The USDJPY spiked higher in the early NY session on the dollar buying trend, but after the pair could not extend above the high from Thursday and USD selling returned, the price of the pair followed the leaders (or others) and moved back lower
The UK Times has the report, saying the European Union is demanding the potential veto. The Times cites senior government officials in the article saying the EU’s chief negotiator, Michel Barnier, is said to be insisting that London must agree not to implement any change to UK legislation that could distort trade with the bloc without