The high for the week is within sight The EURUSD has traded to a new intraday session high for the day. The pair moved above the 61.8% of the move down from the August 6th high at 1.1837 after stalling at the level earlier today. The pair next targets the high for the week at
Gold erased more than 4% last week and closed below $1,950. Correction could extend to $1,850 area if bearish pressure remains intact. $2,000 psychological resistance will be a key level to watch. After closing the previous nine weeks in the positive territory, the troy ounce of precious metal finally staged a deep correction and lost
Buffett bought a stake in miner Barrick Gold Warren Buffett has famously disparaged gold but evidently he’s had a change of heart. According to a Q2 13F filed today, The Oracle of Omaha added 20.9 million shares of Barrick Gold, which is the world’s second largest gold miner. He paid $563.5 million for the stake,
BENGALURU/MUMBAI: Chinese discounts for physical gold scaled yet another record peak versus global spot rates this week as the Covid-19 pandemic continued to choke retail appetite, with even a price dip failing to lure consumers in India. Gold has been sold at discounts in China, usually the world’s top bullion consumer, since February. Discounts widened
It was a rather mixed week where there were conditions for a Dollar rebound, with surging treasury yield and correction in Gold. Yet, no apparent rally was seen. Yen was sold off generally, partly on coronavirus and recovery optimism. But the Swiss Franc was firm together with Euro. Strong rally in iron ore prices and
Interest in cannabidiol-based products has been on the rise, as recent statistics show that the global cannabis market is expected to have reached $42.7 billion in the next four years. Yet as hemp-derived cannabidiol, or CBD, products gain popularity, federal agencies are proceeding with caution around regulatory measures for cannabis products. In order to address
Major indices close mixed A quiet trading session for US stocks. The major indices close mixed. The NASDAQ closed lower for the 1st time in 3 sessions. The S&P index was unchanged. The Dow is up. For the week, the major indices closed higher, but the NASDAQ was just barely higher. The final numbers are showing: S&P index -0.55 points or
Previewing next week’s key macroeconomic events in the US, which includes the FOMC’s July meeting minutes, “at the July FOMC meeting the Committee did not initiate any new policy actions and changes to the statement were minor,” TD Securities analysts noted. Key quotes “While the Fed chairman did not provide any major details on the review
Forex news for North American trading on August 14, 2020. In other markets: Spot gold is down $8.90 or 0.46% $1944.86 Spot silver is down $1.02 or 3.73% $26.48 WTI crude oil futures are down $0.03 or -0.07% at $42.21 In the US debt market today, yields are ending the day mixed. The 30 year bond still has
NEW YORK: Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil
Markets are relatively steady in Asia today. Sentiment was somewhat weighed down by mixed data from China, but there is no apparently follow through selling. New Zealand Dollar continues to be pressured as the country extends coronavirus lockdown by 12 days. Australian Dollar seems to be benefiting from the selloff in Kiwi and it’s trading
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Grayscale Investments had its best fundraising week in history following an ad blitz on a number of major television networks. According to the company’s CEO Barry Silbert, Grayscale netted $217 million in investments in the days following the campaign. The firm’s Bitcoin Trust Fund was the biggest contributor to the success, adding 14,422.01411512 Bitcoin (BTC)
Up and down trading today The USDCHF this week has been trading up and down. On Monday, the USDCHF moved higher and moved down and up on Tuesday. On Wednesday, the price moved to the high for the week at 0.91972 but tumbled lower and traded to new week lows on the same day. Thursday
On Friday, key economic data was released in China. Economic activity indicators of July including industrial production, fixed asset investment and retail sales all pointed that growth recovery extended in the second half of the year, noted analysts at BBVA. However, they warn the demand side still lagged behind the supply side. Key Quotes: “Economic
Rising daily tally in the UK Cases up 570 compared to a week ago Deaths 11 vs 18 a day ago The UK is getting some attention today for requiring 14-day quarantines for visits to France. The takeaway is that people may spend more money at home. However if cases continue to rise, they may