Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve. Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Month: June 2021
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led
Initial jobless claims fell below 400,000 for the first time since the early days of the Covid-19 pandemic, the Labor Department reported Thursday. First-time filings for unemployment benefits totaled 385,000 for the week ended May 29, a decline from the previous week’s 405,000 and below the Dow Jones estimate of 393,000. Zoom In IconArrows pointing
In this article LULU Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon on Thursday reported fiscal first-quarter revenue that soared 88%, topping analysts’ estimates, as shopper traffic steadily rebounded to its stores. The leggings maker also
While market players are more interested in the US Nonfarm Payrolls (NFP), National Australia Bank (NAB) came out with its forecast for the Reserve Bank of Australia (RBA) monetary policy moves during the much-awaited July meeting. The Aussie bank signals the RBA extending Quantitative Easing (QE) but reducing the quantity purchased from the current $100
Is tokenization of securities the way of the future? In an interview with Raiffeisen Bank International, the bankers leading its blockchain research hub stated that indeed, by 2030, most securities will have been tokenized. To gain a deeper understanding of how blockchain technology can transform traditional stock exchanges, Cointelegraph Research compiled a dataset of all
All eyes on employment The numbers today emphasized just how important non-farm payrolls are tomorrow. The turn we’re seeing in markets is all about the employment component of ISM services. It’s often a better predictor of the jobs report than ADP. It fell to 55.3 from 58.8 in April. With that, the US dollar has
The USD is higher ahead of ADP, weekly claims, ISM services and Non farm productivity As North American traders enter for the day, the GBP is the strongest and the AUD is the weakest of the majors. The USD is stronger (sans the GBP) as traders await the ADP employment report at 8:15 AM ET (650K estimate versus 742K
NEW DELHI: Gold in the national capital on Thursday dipped Rs 339 to Rs 48,530 per 10 gram following decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,869 per 10 gram. Silver also tumbled Rs 475 to Rs 70,772 per kilogram from
The latest PMIs reveal that China’s economic activities eased in May. The Caixin services PMI eased to 55.1 in May from 56.3 a month ago, while the manufacturing PMI increased marginally, by -0.1 point, to 52.The detailed report suggests that new business slowed which price pressures intensified. The situation applies not only to the services
A Wingets restaurant displays a “Now Hiring” sign in Tampa, Florida, U.S., June 1, 2021. Octavio Jones | Reuters Private job growth for May accelerated at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP. Total hires came to 978,000
Employment in the US’ private sector increased by 978,000 in May, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Thursday. This reading followed April’s print of 654,000 (revised from 742,000) and came in better than the market expectation of 650,000. Commenting on the data, “private payrolls showed a marked
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Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, have filed a motion requesting the U.S. Securities and Exchange Commission investigate Bitfinex’s parent company, iFinex, and 14 other international crypto exchanges. The June 2 motion requests documents from exchanges including iFinex, Bitforex, Bithumb, Bitlish, BitMart, AscendEX (formerly Bitmax), Bitrue Singapore, Bitstamp, Coinbene, HitBTC, Huobi Global, Korbit,
Wrapping up the PMIs from China for last month. Services 55.1Composite 53.8 prior 54.7 Falls for both and both still in expansion. From the report: fall in overseas demand gauge of export orders into contraction rrowth in total new orders slipped services firms increased their staffing levels for the third straight month inflation pressures –
Major indices little changed The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day. The Dow industrial average has extended its winning streak to 5 trading days. The Dow is 2% from its all-time high The S&P is up 4 of the last 5 trading days. The S&P
NEW DELHI: Aluminium prices on Wednesday fell 70 paise to Rs 195.35 per kg in the futures market as participants trimmed their positions on a low trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in June declined by 70 paise, or 0.36 per cent, to Rs 195.35 per kg in