The idea that Sam Bankman-Fried was some sort of MIT trading savant is coming undone. The WSJ now reports that FTX lent billions of dollars worth of customer assets to fund risky bets at Alameda, his trading firm. Now Alameda owes FTX about $10 billion. That makes it likely that Alameda is now unwinding positions
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Gold rallied by Rs 135 to Rs 51,898 per 10 gram in the national capital on Thursday amid a rise in price of the metal in international market, according to Securities. In the previous trade, the yellow metal had settled at Rs 51,763 per 10 gram. Silver, however, dropped by Rs 250 to Rs 61,618
Dollar dives sharply in early US session after lower than expected CPI readings. CPI might have really started to turn around, and that would support Fed to start slowing the pace of tightening. For now, Sterling, Aussie and Yen are the strongest ones while Swiss Franc and Euro are lagging behind. But it will take
US October inflation data, CPI, is due at 1330 GMT. This snapshot below is from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to
Oil prices fell for a fourth day on Thursday on concerns that new COVID curbs in China, the world’s biggest crude importer, will impact fuel demand. Brent crude futures fell 34 cents, or 0.4%, to $92.31 a barrel at 0115 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents at $85.52 a
Dollar was sold off broadly overnight, following risk-on sentiments. Investors appeared to welcome the results of US mid-term election so far. But the decline in the greenback is not too committed so far. Dollar is still holding on to near term support levels against European majors, and even Aussie. The skepticism about risk sentiment is
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, Gold price in the national capital fell Rs 141 to Rs 51,747 per 10 grams on Wednesday amid rupee appreciation, according to Securities. In the previous trade, the yellow metal had settled at Rs 51,888 per 10 grams. Silver, however, climbed Rs 132 to Rs 62,400 per kilogram. The rupee appreciated 50 paise to
Swiss Franc rises broadly today as yesterday’s risk-on sentiment quickly faded. Dollar is also recovering together with Canadian while Yen is also slightly higher. On the other hand, Sterling is under some pressure, in particular against European majors. Australian and New Zealand Dollar are not far behind. In other markets, Gold lacks follow through buying
Markets aren’t doing a whole lot so far today as most investors are focusing their attention on the US midterms. Most projections heading into this week showed that Republicans were likely to easily take control of the House and arguably wrestle back control for the Senate as well. That hasn’t quite panned out in the
NEW DELHI: Gold prices retreated on Wednesday from a one-month peak scaled in the previous session, although prices flitted in a tight range as cautious investors stayed on the sidelines ahead of US inflation data due later this week. Investors’ focus remains on the US consumer price index report due on Thursday. The data is
The currency markets are generally quiet, without committed directions. Dollar is recovering broadly, ahead of near term support against European majors. Commodity currencies are softening while Yen is mixed. Some focuses be on US mid-term elections, as well as a Bundesbank symposium. But overall trading activities might remain subdued until US CPI release on Thursday.
I’ve been questioning the EIA estimates of US oil production all year long. If you listened to the companies in oilfield services, there are no rigs, no pipe and no workers. Meanwhile, companies are being hit by inflation and pressure to remain disciplined. The ability to tap DUCs is basically done. Since then, there has
Copper prices edged up on Tuesday, supported by low inventories level, but China‘s determination to maintain a strict zero-COVID policy capped gains. The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) was up 0.3% at 65,780 yuan ($9,061.11) a tonne, as of 0755 GMT, while three-month copper on the London Metal Exchange (LME)
Markets continue to tread water today, having basically no reaction to economic data and comments from central bankers. For now, European majors are the slightly stronger ones, as led by Sterling. Commodity currencies are the weaker ones, with the Loonie being the softest. Dollar and Yen are mixed for now. But still, most pair and
If there is one thing you can count on, it is to be prepared for a long day/night in the US. Pollsters haven’t had a good track record in general when calling the outcome but they are still the best guide you can go with in approaching these things. But for a bit of context,
Gold prices were listless on Tuesday as investors held to the sidelines ahead of key U.S. inflation figures, which are likely to influence the Federal Reserve’s rate-hike narrative. FUNDAMENTALS * Spot gold was flat at $1,675.29 per ounce, as of 0034 GMT. Bullion prices hit a three-week peak in the previous session, buoyed by a
It’s a bad idea to trust polls or prediction markets after what we’ve seen for the past decade but there’s still nothing better. Nate Silver gives the Democrats a 16% chance of holding the House but betting markets put it lower than that with Predictit at 10%. The only real drama is whether the Dems