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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Blockchain is undergoing a critical turning point, shifting from an emerging technology into a useful business tool that enterprises want to incorporate into existing IT stacks. As more companies continue to explore how blockchain can help achieve digital transformation, major cloud service providers are showing increased interest. For example, Google Cloud recently became a network
A look at bond rates The battle for the election, the battle for economic stimulus and the battle for the economy are captured best right now by the US long bond. 30-year yields are at a pivotal spot, fighting to break the 200-day moving average for the first time since 2018 and fighting to break
S&P 500 futures up by ~0.7% For bank trade ideas, check out eFX Plus Risk is looking in a better spot once again to start the session, with the market carrying the more positive mood from yesterday into trading today. I don’t see any notable headlines that might have led to the mini-spike in US
NEW DELHI: Gold and silver prices were trading with minor cuts in Thursday’s session bucking the trend in international markets amid renewed hopes of a stimulus package, albeit smaller than previously talked about. After having shut down the deal’s negotiations on Tuesday, Donald Trump wrote on Twitter that Congress should pass money for airlines, small
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is actively working on negative rates. Euro
Federal Reserve officials worried that a lack of further fiscal stimulus would jeopardize and economy recovery that was moving faster than expected, according to minutes released Wednesday from the central bank’s September meeting. The Federal Open Market Committee on Wednesday released minutes from its Sept. 15-16 meeting. The Fed’s policymaking arm held interest rates steady
WTI Oil has been flirting with the $40 level after Crude Oil Inventories showed a minor increase of 0.5 million barrels, worse than expected. Bart Melek, Head of Commodity Strategy at TD Securities, notes that tough support is seen at $37 while stubborn resistance awaits at $42. Key quotes “Following an upbeat week, crude oil