GBP/USD remained depressed for the sixth consecutive session on Wednesday. Rising fears of a no-deal Brexit, sustained USD buying continued exerting pressure. Bearish traders now await the UK internal market bill for some meaningful impetus. The GBP/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a range near
European equities keep higher, US futures gain to start the session For bank trade ideas, check out eFX Plus European indices are pushing higher in the opening hour, with the DAX now up by 0.9% as we also see US futures recover some poise after a bit of a warning shot earlier today. S&P 500
NEW DELHI: Gold and silver prices fell further in Wednesday’s session in another bout of profit booking even as equities tumbled across the world and tensions between US and China rose. US Customs and Border Protection officials have prepared orders to block imports of cotton and tomato products from western China’s Xinjiang region over allegations
Headline CPI moderated to +2.4% y/y in August, from +2.7% a month ago. High base and softened growth in food inflation was the key reason for the slowdown. Food price rose +11.2% y/y, decelerated from +13.2% in July. This was mainly driven by the sharp moderation of pork inflation which eased to +52.6% from July’s
Research by on-chain analytics provider, Glassnode, has taken a deep dive into the economics and value of the SUSHI token, revealing that it may be worth far less than its current price. And that’s after the token’s price took a massive 70% dive over the past week to $2.36. Glassnode analyst Liesl Eichholz broke down
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Time for a retracement USD/CAD is the most interesting chart out there right now. The pair retraced the entire year-to-date move in a 1600 pip round trip that briefly broke 1.30 last week. However that level may be setting up a double bottom on the chart. In addition, the downtrend that started March 19 has
The Dow Jones Industrial Average fell 632.42 points, or 2.25% The S&P 500 lost 95.12 points, or 2.78%, to 3,331.84. The Nasdaq Composite dropped 465.44 points, or 4.11%. US benchmarks ended lower for a third straight session on Tuesday, with Nasdaq falling 4.1% and officially confirming a correction. Technology dragged down the market as it extended
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NEW YORK: Oil futures tumbled on Tuesday, with Brent dropping below $40 a barrel for the first time since June and US crude off more than 8%, after Saudi Arabia cut its October selling prices amid a flare-up of coronavirus cases around the world. Coronavirus infections are rising in India, Great Britain, Spain and several
Risk aversion is back in the markets today. On the one hand, US stocks are set to open sharply lower as they return from holiday. Tech rout is continuing with NASAQ futures down more than -3% at the time of writing. On the other hand, no-deal Brexit worries intensify as UK continues with its hard-line
People walk by a store going out of business along 125th street in the Harlem neighborhood of New York City, August 7, 2020. Shannon Stapleton | Reuters The story for much of the past generation has been a familiar one for the U.S. economy, where the benefits of expansion flow mostly to the top and
Oil down by a little over 3% to its lowest level since 29 June For bank trade ideas, check out eFX Plus The technical story in oil has been a really interesting one throughout August trading until now. Buyers kept a break above $40 but have been unable to firmly break above the 5 August
In its latest report, the US-based Fitch Ratings reduced its long-term price forecasts for both Brent and West Texas Intermediate (WTI) oil. Key points “The cut in the price forecast is to reflect large underutilized production capacities, the extended period of high oil inventory caused by the coronavirus pandemic, falling upstream unit costs and the long-term
Equities keep slightly more optimistic to start the session Eurostoxx +0.2% Germany DAX +0.3% France CAC 40 +0.1% UK FTSE +0.4% Spain IBEX +0.3% Meanwhile, S&P 500 futures are up by ~0.6% as we get things underway. The risk mood points to some hints of optimism, though there is a sense that market participants remain
NEW DELHI: Gold and silver saw profit booking by traders on Tuesday, in line with global cues, but losses were capped by worries over economic recovery. Japan’s economy shrank more than initially estimated in the second quarter, while German industrial output rose far less than expected in July, suggesting Europe’s largest economy faces a slow