NEW DELHI: Gold and silver prices advanced on Friday, in-line with global markets as poor macro data weighed on sentiments. No sign of ease in tensions between the United States and China also helped the cause of safe haven assets. Data on Thursday showed the number of Americans filing a new claim for unemployment benefits
Dollar is back under pressure as rebound attempt faltered quickly again. Nevertheless, New Zealand Dollar remains the worst one. Canadian Dollar is currently the strongest one in Asian session, lifted as crude oil rebounded quickly after a spike lower overnight. As for the week, Sterling and Yen are currently the strongest while Dollar and Kiwi
The number of people filing for unemployment benefits last week was greater than expected, raising concern about the state of the economy as lawmakers struggle to move forward on a new coronavirus stimulus package. The Labor Department said initial jobless claims for the week ending Aug. 15 came in at 1.106 million. Economists polled by Dow
Exterior of Alibaba Group Beijing Headquarters on November 10, 2019 in Beijing, China. VCG | Visual China Group | Getty Images China’s Alibaba beat quarterly revenue estimates on Thursday as its core e-commerce business thrived due to people preferring to shop online for essentials, even as coronavirus-related restrictions eased. Revenue rose to 153.75 billion yuan
Data from a pseudonymous analyst compared the performance of Bitcoin (BTC) against global currencies since the start of 2020. The data shows that BTC has increased by anywhere between 50% to 128% against the world’s major currencies. The performance of Bitcoin against various global currencies. Source: DriftwoodPalace The analyst said: “Update on the bitcoin price
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Fall from 200 hour MA and back below 100 hour MA The USDCAD has moved down to test support ahead of the week’s lower extreme swing area. The 1.31689 to 1.31731 is home to swing lows and highs going back to Tuesday’s trade (see green numbered circles and lower yellow area). The low price just extended to the high of that
GBP/USD back on the bid as the US dollar failed to hold in the 93 areas. Brexit concerns could come back into play if there are no positive progress reports from this week’s talks. GBP USD is currently trading 1.3190 and travelling between a low of 1.3064 and a high of 1.3201. In recent trade, the
I know nothing Pres. Trump is distancing himself from the Steve Bannon and his go fund a project to raise money for building the US Mexican wall. The indictment said that the “We Build the Wall” project defrauded donors out of hundreds of thousands of dollars for their own profit. The project collected over $25 million from
By Ranjeetha PakiamGold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011. “When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the
Global financial markets seemed to have turned into risk-off mode today, after both Fed and ECB sounded very cautious regarding economic outlook in their minutes. Swiss Franc extended recent volatility trading and gains broadly, followed by Sterling and Yen. On the other hand, New Zealand Dollar completed this week’s recovery and resumed recent selloff. It’s
Small-business devastation during the coronavirus crisis presents risks to capitalism in the United States, Mohamed El-Erian told CNBC on Thursday. “If you want capitalism to be sustained, you need buy-in from a lot of people. You cannot get buy-in if it’s all about large corporations,” the chief economic advisor at Allianz said on “Squawk Box.” “Remember
An Estee Lauder cosmetics counter in Los Angeles, California, August 19, 2019. Lucy Nicholson | Reuters Estee Lauder forecast current-quarter profit below analysts’ estimates on Thursday after posting a bigger-than-expected quarterly loss, as travel restrictions and store closures put in place to contain the spread of coronavirus dampened demand for its premium makeup brands. The
The former governor of Reserve Bank of India, Raghuram Rajan, said that private cryptocurrencies like Bitcoin (BTC) and Facebook’s Libra may have a future even when central banks roll out their own digital currencies. Rajan, who was also the Chief Economist and Research Director at the International Monetary Fund from 2003–2006, said during a CNBC
The thing about key reversal days in FX is when is the close? Gotta pick a time and stick to it I guess, although the end of NY trade does make some sense. Anyway – AUD key reversal day (there are more in other currencies today also, feel free to post in the comments): Key
Traders scaled back their open interest positions in Gold futures markets by almost 4K contracts on Wednesday, according to preliminary figures from CME Group. Volume, in the same time, increased for the third session in a row, this time by around 87.5K contracts. Gold could drop below $1,880/oz Prices of the ounce troy of Gold