Silver - Dec 21, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver and domestic silver were solidly higher this Monday morning and early afternoon trade in Asia supported by safe haven appeal for the metal.
Silver outperformed gold as the ratio continued to fall this Monday morning and early afternoon trade in Asia. Currently, the ratio is at 70.23 and was last seen at this level in the month of September.
Technically, LBMA Silver Spot is trading above $27.00 after giving a breakout of horizontal trend line and is trading above 100-DMA where further could see $27.06-$26.99 levels. Support at $25.40-$27.70 levels.
Crude Oil - Dec 21, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are down by over 3% this Monday morning and early afternoon trade in Asia after a new COVID-19 strain in the U.K. has seen new restrictive measures which in turn could stall an emerging recovery in fuel demand.
Reuters reported that countries including France, Germany, Italy, the Netherlands, Ireland, Canada, Argentina and Chile have banned travellers from the U.K., with some also banning freight. Other countries are considering similar bans.
The Dollar Index was also up on Monday morning and early afternoon trade in Asia supported by safe haven appeal for the greenback and also weighed on prices.
Rupee - Dec 21, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
The Indian Rupee ended weak against the U.S. Dollar as risk appetite in the region weakened after the U.K imposed lockdowns to curb the new strain of Covid-19, pushing investors to the safety of the dollar.
The variant, which officials say is up to 70% more transmissible than the original, prompted concerns about a wider spread which has prompted several European countries to take measures to prevent people arriving from Britain, including bans on flights and trains.
The Rupee ended at 73.78 to the dollar compared with 73.56 on Friday. The rupee fell 0.3% today, its biggest one-day decline since Nov. 12.
Rupee - Dec 18, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
The Indian Rupee ended on a very flat note this Friday against the U.S. currency.
Most of the Asian currencies were weak against the U.S. Dollar this Friday and capped gains.
However, for the week the Rupee appreciated against the U.S. Dollar supported by a weak dollar and persistent inflows into local equities.
The Rupee ended at 73.56 to the dollar on Friday compared with 73.60 in the previous session. For the week the local unit appreciated by 0.1%.
The one-year forward premium was at 3.24 rupees against 3.23 rupees in the previous session.
Crude Oil - Dec 18, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International Oil prices eased on Friday morning and early afternoon trade in Asia as soaring COVID-19 cases weigh on fuel demand.
However, hopes of U.S. lawmakers passage over a $900 billion economic stimulus package capped downside.
The next trigger for oil prices will be the OPEC+ meeting in 1st week of January. OPEC+ plans to add 500,000 barrels per day of supply to the market in January, in the first step toward returning 2 million bpd to the market.
Technically, WTI Crude Oil has given a breakout above $48.00 levels further upside rally could be seen up to $48.80-$49.60 levels. Support is at $47.90-$47.10 levels.