Oil down by nearly 6% and briefly clips below $74 Invest in yourself. See our forex education hub. US president Biden may get his wish of lower oil prices but it isn’t exactly how one might expect it to come about in trading this week. The SPR release news was underwhelming but oil is now
Daily thread to exchange ideas and to share your thoughts Risk trades are battered as markets are cowering in fear amid news of a new COVID-19 variant stemming from South Africa. The ‘Nu’ variant is compounding concerns in a time where thinner liquidity conditions are prevailing amid the Thanksgiving holiday. US stocks and bonds will be up
The new German government has cited crypto in its coalition agreement, advocating for an equal playing field between traditional finance and “innovative business models.” Three German political parties agreed to a coalition deal this week that will see left-leaning Social Democrats (SDP), the Green Party and the right-friendly Free Democrats (FDP) take the reins from
NEW DELHI: Risk of another wave of Covid pandemic, thanks to a mutation detected in South Africa, increased the appeal of bullion counters on Friday as investors took a flight from risky assets. Indian authorities alerted all states about the new variant and asked them to rigorously screen and test travellers coming from or transiting
The Pie Shop in Washington, D.C. CNBC As Americans sit down at their Thanksgiving tables, many of the items in front of them will be more expensive than they were last year. Pies in particular. And climate change is a contributing factor. Inflation is hitting every sector of the economy, and food products are not
EUR/USD prints mild gains but struggles to lure bulls around 16-month low. Germany’s virus-led death toll crosses 100,000 mark, fears of virus variant spread. DXY tracks yields to the south as Fed rate hike odds dwindle amid covid resurgence. ECB’s Lagarde, Panetta eyed for fresh impulse, US traders’ reaction after holiday and yields will be
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -5.98 mmb to 1217.89 mmb in the week ended November 19. Crude oil inventory added +1.02 mmb to 434 mmb, compared with consensus of a -0.48 mmb increase. Inventory increased in 3 out of
Dollar bulls still in charge of proceedings this week EUR/USD is down a touch and lingering at its lowest levels since July last year, seen around 1.1220-30 levels at the moment with little reprieve so far this week. Sellers are still aiming for a push towards 1.1200 and dollar sentiment as a whole is helping
Gold Gold is actually really simple to trade at the moment as it is being driven by the US yield story. The expectations of the Fed having to move on hiking rates more quickly at is sending real yields higher. Remember that falling real yields is good for gold, and rising real yields is bad
New Delhi: Gold rallied Rs 195 to Rs 46,625 per 10 gram in the national capital on Thursday in line with gain in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,430 per 10 gram. Silver also jumped Rs 569 to
Customers stand in line to check out at a grocery store in San Francisco, California, U.S., on Thursday, Nov. 11, 2021. David Paul Morris | Bloomberg | Getty Images After lying dormant for years, inflation is once again chipping away at American wallets, and it has become a chief concern for the White House. In
XAU/EUR recovers some of its weekly losses, barely up 0.01.%. Falling German 10-year bunds and German Real Yields keep the EUR pressured to the downside. XAU/EUR: Tilted to the upside, as long as it remains above €1,575. Gold (XAU/EUR) vs. the euro trims some of its weekly losses, advances 0.01%, trading at €1,596 during the
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The forex markets are rather quiet in Asian session today. Trading will probably remain subdued with US on holiday. The greenback remains the strongest one for the week on speculation that the “transitory” yet persistent strong inflation would eventually force Fed to raise interest rate earlier. Canadian Dollar is currently the second strongest for the
The dollar continues to keep in a good spot technically The greenback is trading more mixed and a touch lower on the day but it isn’t anything that is too significant as compared to the changes in the past week, or even yesterday. EUR/USD dipped below 1.1200 for the first time since June 2020 in
Daily thread to exchange ideas and to share your thoughts Another reminder that it will be Thanksgiving in the US so holiday-thin trading conditions are going to be part of the consideration in the next two days. I’ve never been a fan of holiday trading but just bear in mind that we could get some exacerbated moves