Oil tries and fails on a break again WTI Crude oil finished the day down 24-cents to $41.95. It rose as high as $42.87 to break the July high of $42.40 for the second day but once again it couldn’t hang onto the level. I’m starting to get worried about OPEC. The last week has
Reserve Bank of Australia (RBA) Assistant Governor Ellis is once again on the wires now, via Reuters, responding to the Q&A session after her speech titled “The Economic Outlook”. Key quotes Recovery will be little stronger due to extension of job support packages. Employment will now not decline as much as forecast. Still a pretty
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By Shruti Srivastava and Swansy Afonso Demand for gold in India rebounded in July, with imports jumping by a quarter from a year earlier, as lockdowns to combat the coronavirus in the second-largest consumer of the metal were slowly eased. Overseas purchases rose to 25.5 tons in July from 20.4 tons a year earlier and
Sterling strengthens generally today after BoE stands pat. Even though investments remained weak, the central offered some optimism in the way that spending recovered significantly. At this point, Euro is the second strongest, followed by Yen. New Zealand Dollar and Canadian are the weaker ones. For the week, however, Dollar stays as the worst performing
Federal Reserve Vice Chairman Richard Clarida said he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021. In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast despite
2021 Toyota Sienna models Toyota Toyota Motor eked out its smallest quarterly profit in nine years as the coronavirus pandemic halved its car sales and nearly wiped out its bottom line. However, shares in Japan’s top automaker rose 2.3% in a weaker broader market as analysts had expected a loss, while comments from a company
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Countries all over the world are feeling the impact of COVID-19, as travel restrictions have virtually put an end to tourism for this year. To put this into perspective, recent statistics from Hawaii’s Maui News found that in June of this year, 1,929 visitors came to Maui, while the island welcomed 287,449 visitors the same
Run above the 1.1908 level fails. The EURUSD in the early European session ran above the previous highs at 1.19043 and 1.1908. The price reached 1.1916 but quickly reversed. Buyers quickly turned to sellers. The price over the last 6 hourly bars has been shopping between a low of 1.18308 and a high of 1.18697. We currently trade between those levels
Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that he doesn’t believe that the Fed’s future policy will include negative interest rates. Additional takeaways “This downturn is different than others because a substantial portion of the population was not working.” “It’s still my view that the US economy will grow at a healthy rate
Weekly jobless claims data Lowest since the pandemic started Prior was 1434K (revised to 1435K) Continuous claims 16107K vs 16900K PUA claims 655K vs 909K prior (lowest since the week the program was introduced) Better numbers on initial jobless claims but it’s still daunting how they’ve remained so high. For bank trade ideas, check out
Grapevine has it that residents who purchased gold and silver jewellery, and bars and coins at huge premiums post demonetisation on November 8, 2016 have got an exit with gold hitting record highs past Rs 55000 per 10 gm and silver spot at Rs 73617 a kilo Thursday, just shy of the record Rs 75020
Sterling remain remains the strongest one for today, as it’s maintaining post BoE gains. Nevertheless, there is no apparent follow through buying after the initial surge. On the other hand, Dollar appears to be stabilizing mildly, and it’s receiving some support from better than expected jobless claims. Though, the key for the greenback is still
The move to get displaced workers back to their jobs slowed sharply in July, with private payrolls increasing by just 167,000, ADP reported Wednesday. That total was well below the 1 million expected from economists surveyed by Dow Jones and represented a tumble from the 4.314 million created in June, according to the report, which
Travelers order food in automated self-ordering kiosk at fast-food Burger King restaurant chain. Bundrul Chukrut | LightRocket | Getty Images Restaurant Brands International on Thursday reported that its quarterly revenue plunged 25% as the coronavirus pandemic weighed on same-store sales at Burger King and Tim Hortons. But Popeyes, powered by its popular chicken sandwich, reported same-store