Soybean closes higher on rising US exports
Soybean prices rose on Monday, despite the dollar’s rise against its peers, lifted by the recovery of US exports and positive news about Pfizer's Covid-19 vaccine.
The American company Pfizer announced that the vaccine candidate developed in cooperation with BioNTech was found to be more than 90% effective in preventing COVID-19.
The US Department of Agriculture reported that US exporters have sold around 130,000 tonnes of soybean to various destinations.
The dollar index rose against a basket of major currencies by 0.6% to 92.8 points as of 22:07 GMT, after hitting a high of 92.9 points and a low of 92.1 points.
Soybean December futures rose 0.8%, and closed at $11.10 per bushel, after hitting a high of $11.19, and a low of $10.99.
Do you need help in trading decisions? Do you want to learn how to start trading?
Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:
- Full coverage of commodities such as gold, oil, silver, and more
- Full coverage of all major forex currency pairs
- Full coverage of key global indices and stocks
- Full coverage of major cryptocurrencies and meme coins
- Accurate analysis and daily updated price forecasts
- Exclusive and breaking news
- Reliable trading ranges for effective risk management
- Comprehensive educational materials, competitions and prizes!
- Innovative tools to enhance your trading performance
Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.
Silver drops over 7% on firm dollar, after Covid-19 vaccine news
Silver prices fell on Monday, after the US dollar rose against its peers, following positive news about Pfizer's Covid-19 vaccine.
The American company Pfizer announced that the vaccine candidate developed in cooperation with BioNTech was found to be more than 90% effective in preventing COVID-19.
The dollar index rose against a basket of major currencies by 0.6% to 92.8 points as of 21:41 GMT, after hitting a high of 92.9 points and a low of 92.1 points.
The Democratic candidate Joe Biden declared himself the winner in the US presidential election last Saturday, and was met by accusations of fraud by the Republican candidate, Donald Trump.
Silver December futures fell 7.6% or $1.96, and closed at $23.701 an ounce, after gaining 8.5% last week, with a day high of $26.1 and a low of $23.6.
Do you need help in trading decisions? Do you want to learn how to start trading?
Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:
- Full coverage of commodities such as gold, oil, silver, and more
- Full coverage of all major forex currency pairs
- Full coverage of key global indices and stocks
- Full coverage of major cryptocurrencies and meme coins
- Accurate analysis and daily updated price forecasts
- Exclusive and breaking news
- Reliable trading ranges for effective risk management
- Comprehensive educational materials, competitions and prizes!
- Innovative tools to enhance your trading performance
Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.
US crude surges more than 9%, Brent jumps above $42
Oil prices surged on Monday, following positive news about Pfizer's Covid-19 vaccine.
The American pharmaceutical giant Pfizer announced that the vaccine candidate developed in cooperation with the German biotech firm BioNTech was found to be more than 90% effective in preventing COVID-19.
The US President-elect Joe Biden praised the results and stated that he has formed a crisis team, while his Vice President Kamala Harris said that the coronavirus crisis must be eliminated and the economy built.
The dollar index rose against a basket of major currencies by 0.6% to 92.8 points as of 17:36 GMT, after hitting a high of 92.9 points and a low of 92.1 points.
As of 17:28 GMT, WTI crude December futures jumped 9.1% to $40.5 a barrel, after hitting a high of $41.3 and a low of $37.1.
Brent January futures rose 8.1% to $42.6 a barrel, after hitting a high of $43.4 and a low of $39.4.
Do you need help in trading decisions? Do you want to learn how to start trading?
Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:
- Full coverage of commodities such as gold, oil, silver, and more
- Full coverage of all major forex currency pairs
- Full coverage of key global indices and stocks
- Full coverage of major cryptocurrencies and meme coins
- Accurate analysis and daily updated price forecasts
- Exclusive and breaking news
- Reliable trading ranges for effective risk management
- Comprehensive educational materials, competitions and prizes!
- Innovative tools to enhance your trading performance
Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.
Yen drops 2% amid improved risk appetite
The Japanese yen fell against most major currencies on Monday, as investors eschewed safe havens such as the yen and precious metals, while the US dollar strengthened.
The Japanese yen suffered large losses today after the US pharmaceutical giant Pfizer announced that the vaccine candidate developed in cooperation with the German biotech firm BioNTech was found to be more than 90% effective in preventing COVID-19.
Uncertainty faded after the Democratic candidate Joe Biden declared himself the winner in the US presidential election.
However, the outgoing incumbent President, Donald Trump, claimed fraud and pledged to take it to the court, especially in the votes counting in the state of Pennsylvania.
As of 21:02 GMT, USD/JPY rose 2%, to 105.3, after hitting a high of 105.6, and a low of 103.2.
Do you need help in trading decisions? Do you want to learn how to start trading?
Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:
- Full coverage of commodities such as gold, oil, silver, and more
- Full coverage of all major forex currency pairs
- Full coverage of key global indices and stocks
- Full coverage of major cryptocurrencies and meme coins
- Accurate analysis and daily updated price forecasts
- Exclusive and breaking news
- Reliable trading ranges for effective risk management
- Comprehensive educational materials, competitions and prizes!
- Innovative tools to enhance your trading performance
Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.