Gold prices extended their slide to five month lows on Monday as prospects of a vaccine-led boost to the economy cast a shadow over safe-haven assets and set bullion on course for its worst month in four years. Spot gold dipped 1% to $1,770.56 per ounce by 1337 GMT, and was down 5.7% so far
Month: November 2020
Overall, the markets are relative quite today, in month end trading. Stocks are struggling in tight range, indifferent to news of Modern’s plan to see US and EU clearance for their vaccine. In the currency markets, Sterling is currently the strongest one, awaiting news on Brexit trade talks. Canadian is the next strongest, then Kiwi.
Erin Scott/Bloomberg via Getty Images The Department of Labor has been both miscounting the amount of people receiving unemployment benefits and underpaying those under a special program instituted to address the coronavirus pandemic, according to a government watchdog report Monday. Issues dealing with the surge in those filing claims for the new programs aimed at
USD/CAD hit its lowest level since October 2018 below 1.2930 in recent trade, although has since recovered back around 1.2960 since. Broad USD weakness has buoyed CAD, with the loonie the best performer in the G10. Amid broad USD downside, USD/CAD recently printed fresh lows since March 2018 of 1.2926. The pair has since rebounded
EUR/USD touches 1.1983, at the highs for the day now For bank trade ideas, check out eFX Plus The pair is close to testing the key psychological handle once again, which helped to limit gains back at the start of September trading (the high then touched 1.2011). From a technical perspective, it has been tough
Moderna reaffirms that its vaccine is 94.1% effective in primary analysis Vaccine was 94.1% effective in analysis of Phase 3 study, after 196 virus cases Vaccine was 100% effective against severe virus cases in trial No new serious safety concerns identified since 16 November trial To apply for US emergency-use authorisation today To apply for
The ongoing Bitcoin (BTC) rally has primarily been driven by institutions, analysts say, with metrics such as CME’s open interest and Grayscale’s assets under management (AUM), supporting this narrative. At the same time, the gold market has seen large outflows in recent weeks. On Nov. 24, independent financial researcher Jan Nieuwenhuijs reported that gold saw
A surge in COVID-19 cases in the winter season will not derail the oil market rebalancing driven mainly by vaccine progress, Goldman Sachs said in a note, adding that it sees a further upside in Brent to $65 per barrel through 2021. The bank, however, said it expects the winter wave to hit global oil
After some big moves in November, we believe the RBA will stay put at this week’s meeting. Given the good news about vaccine and the steady decline in the country’s coronavirus cases and, we do not feel surprise if the members turn more upbeat this month. Economic data released since the last meeting suggested continued
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Gold Price Analysis: XAU/USD drops over 1% to fresh four-month lows near $1765 Following a weekly closing below the $1800 level, Gold (XAU/USD) resumes its downward momentum in Monday’s Asian trading, renewing four-month troughs below $1770. The precious metal came under fresh selling pressure over the last hour, as the upbeat Chinese official Manufacturing and
Flows into back into EUR today. The EURGBP has moved back above its 200 day MA at 0.89547 (green line in the chart below). The pair has been wandering higher over the last 4 days after bottoming in the 0.8860 to 0.88798 swing area and the 50% of the range since December 2018 low at
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Gold edged down on Friday, on path for its worst weekly decline in two months, as hopes for a virus vaccine and a rebound in economic growth dulled demand for the safe-haven asset. Spot gold fell 0.3% to $1,805.41 per ounce by 1233 GMT, down 3.5% on the week so far, which could be it’s
Here is what you need to know on Monday, November 30: The American dollar was the worst performer on Friday, falling against all of its major rivals, but the pound. The EUR/USD pair was the best performer, reaching a fresh 2-month high of 1.1963. The GBP/USD pair fell for a second consecutive day as the
UK FTSE recovers earlier declines. The European shares are closing higher on the day. The UK FTSE is closing higher after trading sharply lower earlier in the day (-0.95%). It is closing up 0.07%. A look at the closes shows: German Dax, 0.37% France CAC, 0.56% UK FTSE, up 0.07% Spain’s Ibex, +1.06% Italy’s FTSE
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