NASDAQ index leads the way The major indices clawed back some of the losses from Friday’s trade with the NASDAQ index taking back the most. The Dow industrial average lagged. The final numbers are showing: Dow industrial average +236.47 points or 0.68% at 35135.99 S&P index +60.61 points or 1.32% at 4655.25 NASDAQ index up 291.19 points
Which currency will be hit most in another wave? Credit Agricole CIB Research flags 2 headwind factors for the USD in the near-term. “The impact of the new virus variant omicron on individual G10 currencies will depend on two key factors in our view. The first is the advancement of their respective vaccination campaigns and
New Delhi: Gold in the national capital on Thursday rose by Rs 65 to Rs 46,012 per 10 gram in line with a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,947 per 10 gram. Silver also gained Rs 490 to Rs
GBP/USD slipped under 1.3300 in recent trade and is eyeing year-to-date lows. The pair has been weighed by concerns about an Omicron outbreak in the UK. Sterling has been under pressure during US trading hours, pulling back from earlier session highs above 1.3350 to fresh session lows under 1.3300. That leaves the pair only a
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Worries about Omicron remains a main theme in the markets. Nikkei takes a dive after Japan announced to close its borders to all foreigners as Prime Minister Fumio Kishida said he’s taking measures with a “strong sense of crisis”. The forex markets are relatively quiet for now, with Yen and Swiss Franc digesting some of
Oil up 5% on the day after the 13% plunge on Friday Oil prices are back up in trading today as the risk trades are bouncing back after having been beaten up quite badly at the end of last week. Of note, WTI suffered its worst performance of the year in a massive drop below
Dead cat bounce? Meow. It’s early in the day and the market is still digesting the drastic moves from Friday, where risk trades were beaten, battered and clobbered across the board. European futures are pointing to gains around 0.7% to 0.9% while S&P 500 futures are up 0.7% (Nasdaq futures up 1.0%, Dow futures up
Bitcoin (BTC) is back at $57,000 as a new week begins after a late surge produced a much better weekly close than many expected. Making up for last week’s Coronavirus-induced sell-off and associated price dip, Bitcoin passed $58,000 overnight before consolidating higher, still up around 5.7% on the day. The outlook could hold many a
Gold prices edged higher on Monday, as concerns over the impact of the possibly vaccine-resistant Omicron coronavirus variant supported the precious metal’s safe-haven appeal. Spot gold rose 0.1 per cent to $1,793.72 per ounce by 0201 GMT. U.S. gold futures advanced 0.4 per cent to $1,793.2. The Omicron coronavirus variant spread around the world on
GBP/USD witnessed a subdued/range-bound price action on the first day of a new week. Renewed USD buying acted as a headwind for the major amid Brexit-related uncertainties. Expectations for an imminent BoE rate hike extended some support and limit the downside. The GBP/USD pair lacked any firm directional bias on Monday and seesawed between tepid
A typical risk-off look in the market But just be mindful that thinner liquidity conditions may be exacerbating some of the moves, not to mention with the weekend approaching so that isn’t helping in the sense that investors may prefer to stay out until there is more clarity on the situation. The bond market is
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Rough diamond prices have risen about 10% owing to supply concerns amid a new Covid-19 variant, Omicron, spreading in South Africa and Botswana. These two nations have some of the biggest mines of De Beers, the largest diamond miner in the world. The surge in diamond prices coupled with a possible supply side constraint has
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Not since Americans came home from World War II has inflation percolated through the U.S. economy like it is now, and it could continue to do so for
EUR/GBP spiked towards 0.8500 on Friday as markets were rocked by the latest Covid-19 developments. The pair benefitted from a moderation of global central bank rate hikes. EUR/GBP saw sharp upside on the final trading day of the week, surging from close to the 0.8400 level to print session highs near 0.8500. As trade draws