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Stocks hover near record highs, data impacted on COVID, EV demand, US Politics, OPEC+ on tap

US stocks are rocking in the new year, with all the major indexes hovering near record-high territory. It is hard not to like equities as the economic outlook seems to be inching towards pre-pandemic life. The COVID situation is still bleak as the holiday surge will likely deliver one last peak in b

BTCUSD Bounces Back

Bitcoin has staged a strong bounce back on the cryptocurrency market after the BTCUSD pair suffered a twenty percent correction on Monday. Traders that are bullish towards the BTCUSD pair may have bought the dip in expectation of a coming rally towards the $36,000 area. The upcoming Georgia state ru

WTI Price Analysis: Bulls eye $48.00, recovery moves need validation from 200-HMA

WTI keeps bounce off $47.25, regains 61.8% above Fibonacci retracement. Recovering RSI, break of immediate resistance favor oil buyers. WTI recovers Monday’s losses while picking up the bids around $47.85, up 0.86% intraday, during Tuesday’s Asian session. In doing so, the oil benchmark bounces back

WTI under immense pressure on risk-off Wall Street

Oil prices under pressure despite hopes of the covid vaccine. Oil ministers give opposition to increasing oil output from February. US stocks plummet in anticipation of the Senate runoffs. WTI is trading at $47.71 between a range of $47.28 and $49.80 bbls, losing 0.84% at the time of writing. The pr

Silver prices surge above $27.50 as traders bet on higher inflation ahead

US 10-year breakeven inflation expectations hit more than 2-year highs, boosting precious metal markets. Spot silver prices crossed above the $27.50 mark for the first time since September. Spot silver prices (XAG/USD) have put in a solid performance thus far on the first trading day of 2021, with s

January monthly

It might not feel like a New Year, as the pandemic continues to ravage most countries. On top of the human toll, the economic fallout will continue to depress activity in the first part of 2021. However, policymakers throughout the G7 provided more stimulus in late 2020 and extended many emergency f

UK Manufacturing Growth At 3-Year High

The UK manufacturing activity grew at the fastest pace in three years in December, final survey results from IHS Markit showed Monday. The Chartered Institute of Procurement & Supply/IHS Markit factory Purchasing Managers' Index advanced to a 37-month high of 57.5 from 55.6 in November. The scor

Why copper's stall is ominous

Copper prices are up 75% since cratering in March at $1.97 a pound. Since ‘doctor’ copper, with a supposed PhD. in economics, has a reputation for accurately predicting growth trends, does this mean a global boom is at hand? This seems most unlikely, given the vast expansion of public debt used to t

Shenzhen Announces 20 Million Digital Yuan Giveaway

Photo: China Shenzhen, one of the most populous cities in China announced that its residents will be able to receive 20 million digital yuan, worth nearly $3 million as a gift. Shenzhen joins Suzhou to test the real-life use of China’s central bank digital currency. According to an official announce

USD/JPY Melihat Support Kuat Di Sekitar 102,60 – UOB

Pandangan 24 jam: “USD ditutup tak banyak berubah pada Kamis lalu (31 Des) tetapi melemah setelah dibuka pagi ini. Momentum penurunan menunjukkan tanda perbaikan dan bias miring ke sisi bawah. Meskipun demikian, 102,85 adalah support yang solid dan level ini kemungkinan tidak akan ditembus

Natural Gas Futures: Upside momentum looks firm

Open interest in Natural Gas futures markets rose by nearly 11.7K contracts on December 31st following seven consecutive daily pullbacks, according to advanced figures for CME Group. Volume followed suit and increased by nearly 115.7K contracts after two drops in a row. Natural Gas shifts the focus

EUR/USD dips likely to remain supported above 1.2100

Key Highlights EUR/USD started a downside correction from the 1.2310 high. There was a break below a major bullish trend line at 1.2240 on the 4-hours chart. A few important supports on the downside are near 1.2180 and 1.2150. EUR/USD Technical Analysis Looking at the 4-hours chart, the pair correct

S&P 500 Futures print mild losses as virus woes, US-China tension probe bulls near record top

S&P 500 Futures recede from all-time high while keeping 3,700. Japanese government mulls emergency, US-China jostles over NYSE delisting. US paycheck discussions, early-month activity numbers are in focus. Having refreshed the all-time high to 3,753 during the last week, S&P 500 Futures drop

US STOCKS-Wall Street closes out wild pandemic year with Dow, S&P at records

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * S&P 500 notches annual gain of around 16% * Nasdaq gains more than 43% on the year * Weekly jobless claims fall for second straight week (Updates to market close) NEW YORK, Dec 31 (Reu

Asia Gold-Demand slows in top hubs as holiday mood dulls activity

* India switches to premium of $2.5/oz vs last week’s $2 discount * China discounts unchanged at $15-$20/oz * Dealers concerned about new coronavirus variant * Spot gold prices set for 1% gain this week BENGALURU/MUMBAI, Dec 31 (Reuters) - Physical gold demand remained largely muted across top Asian

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