Comments by German chancellery chief, Helge Braun At the end of September, there were 355 coronavirus patients in intensive care beds reported by RKI. That number has jumped to 1,569 as of yesterday with 26% beds i.e. 7,546 reported to still be available based on the DIVI registry. The spare capacity in hospitals hasn’t dramatically
Gold was little changed on Thursday, trading near a one-month low hit in the previous session, as fears of the economic impact from a fresh wave of the novel coronavirus in Europe kept the dollar around a one-week high it hit on Wednesday. FUNDAMENTALS Spot gold was little changed at $1,877.83 per ounce by 0050
European majors are all trading broadly lower today on worsening coronavirus spread and return to lockdowns. Mild risk aversion keeps the Japanese Yen afloat but it’s outperformed slightly by Aussie, after slightly stronger than expected Australian CPI reading. Dollar is mixed for the moment, benefitting little from risk aversion. Traders remain cautious ahead of US
Comments from Macron Virus circulating more quickly than forecast We have taken difficult steps but these aren’t enough If we don’t take drastic action then our doctors will be overwhelmed 2nd wave likely to be worse than first wave France will have 9000 patients in ICU by mid-November More to come, with virus curbs almost
NEW YORK: Oil prices dropped 5% to a three-week low on Wednesday as surging coronavirus infections in the United States and Europe is leading to renewed lockdowns, fanning fears that the unsteady economic recovery will deteriorate. Brent futures fell $2.07, or 5.0%, to $39.13 a barrel by 10:13 a.m. EDT (1413 GMT), while U.S. West
Intensifying worries over out-of-control coronavirus spread in Europe push European stocks to 5-month low today. US futures also point to sharply lower open as this week’s decline would likely extend. Dollar and Yen jump on risk aversion, followed by Swiss Franc to a slightly smaller extend. Australian Dollar and New Zealand Dollar are the worst
Via Reuters Hedge fund are reported to have purchased crude futures and options at the fastest rate for six months as portfolio managers grow in confidence that OPEC+ will delay their scheduled output increases until demand is stronger. Net position on crude has increased over the two most recent weeks to 464 million barrels rising
Gold prices were subdued on Wednesday, as the dollar strengthened, after hopes of U.S. stimulus faded following President Donald Trump’s comment that a deal would likely come after the November election. FUNDAMENTALS Spot gold fell 0.1% to $1,905.51 per ounce by 0103 GMT. U.S. gold futures were down 0.2% at $1,908.70. The dollar index was
Movements in the forex markets remain relatively limited and indecisive. There were little reaction to the steep decline in US stocks overnight, which is followed by broad based weakness in Asia. For now, Dollar, Yen and Kiwi are the firmer ones for the week. Canadian Dollar remains the worst performing as dragged down by oil
New virus curbs coming? The topic of the address is new measures on COVID-19. The question is how far he is willing to go. A few weeks ago, Macron took a regional approach with curfews. Needless to say, it hasn’t exactly been a success. The consensus Q4 forecast in France is +1.5% q/q. Needless to
Pune: China plans to import large quantities of castor seed from India, which can create a scarcity of raw material for the local edible oils industry, a leading trade body said. “During the last few months, China has been aggressively buying Commodities to bolster their State Reserves. We understand they are also targeting to buy
Dollar weakens again today but stay in very tight range as indecisive trading continues. The stronger than expected durable goods orders were are ignored by the markets. White House’s comment that stimulus deal will be there in “coming weeks” is also shrugged off. Swiss Franc is following Dollar is the weaker one. On the other
Commodities set to gain on green car shift The rise of electric vehicles is gaining pace with more and more vehicles available and a growing infrastructure to support them. According to Morgan Stanley electric-car sales are seen to boost Nickel the most of all the commodities used in producing an electric vehicle. Here is a
Gold prices gained in early Asia trade on Tuesday, supported by a weaker dollar and concerns stemming from the surging coronavirus spread globally and its economic fallout. FUNDAMENTALS Spot gold rose 0.3% to $1,907.77 per ounce by 0116 GMT. U.S. gold futures were up 0.2% at $1,909.20. The dollar index slipped 0.1% against a basket
Economic data released since the September signaled that the recovery might have lost momentum. This is a worrying signs as renewed lockdown measures in light of the second wave are expected to damage the recovery further. As a preparatory meeting for more stimulus in December, ECB will turn more dovish this month. Stimulus measures to
Covid statistics for France Covid cases rise by 26,771 vs. 52,010 on Sunday 257 new deaths is up from 116 on Sunday The case count started to spike higher last week surpassing the previous high at around 32,000. The dip today is typical for the early week, but above the 19,000 seen a week ago today.
Gold fell below the key psychological level of $1,900 on Monday to its lowest in more than a week, pressured by a firmer dollar and stalled progress in talks for a new U.S. coronavirus aid package. Spot gold fell 0.2% to $1,897.71 per ounce by 0908 GMT, after hitting $1,890.19, its lowest since Oct. 15.
Movements in the forex markets are rather limited in European session, with some firmness seen in Dollar and Sterling. One focus is on the selloff in Canadian Dollar, which is dragged down by the steep decline in oil prices. Euro’s mild weakness is also worth a note, as partly weighed down by German sentiment data.