Silver price’s rally has accelerated over the past weeks. Currently trading at US$ 22.65/oz, price has jumped +27% ytd. Yet, much of the gains (22% out of 27%) was made in the first three weeks of July. With its dual properties, as both industrial and precious metals, silver will continue to benefit from global economic
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Credit Agricole EUR/CHF outlook, maintains a bullish bias targeting a move towards 1.15 “EUR/CHF has been advancing of late hand in hand with outperforming EUR-denominated risk assets, a development that may continue going forward should it be indicative of an improving risk asset related capital flow situation. Historically speaking, the capital flow situation has been
LONDON: Oil rose on Tuesday, helped by positive news about vaccine trials and an EU stimulus deal, taking prices to levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia. Benchmark Brent crude was up $1.24 cents at $44.52 by 1337 GMT, on track for its biggest daily
Global stock markets are lifted by the agreement on the EUR 750B Next Generation EU recovery package. Commodity currencies surge broadly with Australian Dollar leading the way. RBA Governor indicated that the current exchange rate is inline with Australia’s fundamentals. On the other hand, Dollar, Yen and Swiss Franc are under broad based pressure due
Comments by German economy minister, Peter Altmaier The likelihood of a gradual economic recovery has “enormously increased” Expects a sustainable recovery in 2021 and 2022 Expects all European countries to return to growth in 2021 For bank trade ideas, check out eFX Plus The extra funds to provide aid to the economy is no doubt
Gold rose to a nine-year high on Tuesday as expectation of higher inflation from increased stimulus overshadowed the resultant gain in risk appetite, while silver breached the $20 level for the first time since September 2016. Spot gold was up 0.4 per cent at $1,822.11 per ounce by 0730 GMT after hitting its highest since
Euro weakens somewhat today after EU finally reached an agreement on the recovery fund. Traders seem to be taking some profits as expectations become news. Though, New Zealand Dollar is even weaker, partly thanks to cross selling, especially against Aussie. Canadian and Aussie are the strongest ones on risk-on sentiments. Asian markets are generally higher
GlobalDairyTrade (GDT) auction begins at midday in London on Tuesday, the results will come out in the hours following Previous results: Preview via Westpac (in brief): We expect that whole milk powder prices will be unchanged dairy futures market is pointing to a price modest lift Over the remainder of the NZ winter, we anticipate
NEW YORK: Oil prices were little changed on Monday as coronavirus cases increased in many countries, though cautious investor optimism about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies hit by the pandemic curbed losses. Brent crude was down 6 cents, or 0.1%, at $43.08 per barrel by
PBOC has left the policy rate, the 1-year loan prime rate, at 3.85% in July. The 5-year loan prime rate also stays at 4.65%. The decision has been widely anticipated, as the medium lending facility (MLF) rate, the guidance rate for the LPR, was also kept unchanged at 2.95% earlier this month. The central bank
FOX News reporter, Chad Pergram, reaffirms the earlier story Senate majority leader, Mitch McConnell, and House GOP leader, Kevin McCarthy, will be headed to the White House later to discuss the next stimulus bill with Trump and Mnuchin. This adds to the story from earlier in the day here. For bank trade ideas, check out
New Delhi: Aluminium prices on Monday softened by 0.18 per cent to Rs 136.50 per kg in futures trade as speculators cut bets amid subdued demand in spot market. On the Multi Commodity Exchange, aluminium for delivery in July contracts eased by 25 paise, or 0.18 per cent, to Rs 136.50 per kg in a
Euro’s rally continues today as, despite some jitters, it appears that EU would agree on a compromised deal of recovery fund. It’s reported that after marathon negotiations, the Netherlands, Austria, Denmark and Sweden are satisfied with EUR 390B fund being made available as grants with the rest coming as low-interest loans. EU leaders are still in
BusinessNZ Performance of Services Index (PSI), back in expansion for the first time since February this year at 54.1 prior 37.2 Services PMIs pretty much everywhere have been slower to improve than manufacturing PMIs, which makes this NZ result impressive indeed. BusinessNZ chief executive Kirk Hope comments from respondents underlie the two broad effects COVID-19
LONDON: Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even as the crude producers in OPEC+ try to push oil prices higher. OPEC+ is anxious to see higher crude prices as soon as possible but its ambition is likely to
According to the CFTC Commitments of Traders report for the week ended July 14, NET LENGTH for crude oil futures gained +4 434 contracts to 539 751 for the week. Speculative long positions rise +5 715 contracts while shorts added +1 281 contracts. For refined oil products, NET LENGTH for gasoline increased +4 202 contracts
The latest data from Florida Yesterday’s report Cases for the day 10,292 vs. 11,446 yesterday Cases up 3.2% vs. 7 day average of 4.3% Total cases 337,569 vs. 327,241 yesterday Resident hospitalizations 20,632 vs. 20,191 yesterday Hospitalizations +441 vs +366 prior Median age of cases 41 vs. 41 yesterday Total deaths 90 vs. 128 yesterday positivity 12.17%
SINGAPORE: London copper fell on Friday, hit by worsening U.S.-China relations and rising coronavirus infections that could dampen global economic recovery and demand for metals. The Trump administration is considering a ban on travel to the United States for all members of the Chinese Communist Party and their families, a person familiar with the matter