Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Scott Olson | Getty Images Under normal circumstances, the recent spate of high inflation numbers would be cause for high alarm. But in the present Covid-era context, they were confirmation in some quarters that the inflation picture is doing little more
Month: June 2021
Thomas Barkin, President of the Richmond Federal Reserve Bank, said on Monday that he is pretty optimistic about the labor market and added that he expects to see progress “in relatively short order,” as reported by Reuters. “The Fed has had substantial further progress against the inflation goal,” Barkin further noted and said he wants to
BTCChina, the operator of China’s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports. The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese news agency The 21st Century Business Herald recently reported. According to the report, ZG.com is a completely independent
Latest data released by the SNB – 28 June 2021 Domestic sight deposits CHF 631.0 bn vs CHF 631.4 bn prior Invest in yourself. See our forex education hub. Prior week’s release can be found here. Not much change in terms of overall sight deposits, hinting that the SNB isn’t being overly active in intervening
France’s CAC down modestly The major European indices are ending the week mostly higher on the day. The provisional closes are showing: German DAX, +0.1% France’s CAC, -0.1% UK’s FTSE 100, +0.4% Spain’s Ibex, +0.25% Italy’s FTSE MIB, +0.35% For the week, the major indices are also higher: German DAX, +1.0% France’s CAC, +0.85% UK’s
NEW DELHI: Gold prices inched higher on Monday as the US dollar eased and tamer-than-expected US inflation data allayed fears of an early monetary policy tightening by the Federal Reserve. The yellow metal remained firm with mild gains in the domestic market. US consumer spending paused in May, while the personal consumption expenditures price index,
Yen trades mildly higher in quiet Asia today, while trading is also subdued in other markets. Sterling is trying to recover some of last week’s losses, but momentum is relatively limited. On the other hand, Swiss Franc and Euro are turning softer, partly due to retreat in crosses against the Pound. Overall, the economic calendar
Investors trimmed their open interest positions by around 3.3K contracts at the end of last week, as per advanced prints from CME Group. On the flip side, volume reversed three consecutive daily drops and increased by nearly 122K contracts. WTI clinches new 2021 highs The rally in the West Texas Intermediate remains well and sound
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Comparisons with 2020 are, of course, showing large base effects due to pandemic impacts a year ago. Nevertheless – the surging price of raw materials is acting as a bit of a brake on magins and thus reported profitability. Later this week we begin to get more recent data for the sector with PMIs from
Price dipped below the March low at $776 The price of lumber has moved to the downside today and in the process is moving away from its 200 day moving average at $867.67 (green line in the chart below). It is also falling below the 61.8% retracement of the move up from the April 1 low at $817.60.
Gold imports, which have a bearing on the current account deficit, zoomed to USD 6.91 billion (Rs 51,438.82 crore) during April-May 2021 due to low base effect in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal had plunged to USD 79.14 million (Rs 599 crore)
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What you need to know on Monday, June 27: The dollar advanced on Friday on the back of higher US PCE inflation, which rose in May 3.4% YoY, its highest reading in almost three decades. Gains however were modest and the dollar ended the week with modest losses. US stocks soared, with the Nasdaq and
You might have heard the term “smart city” before — a futuristic, utopian idea that we might see implemented in the foreseeable future. Indeed, some metropolises — like Singapore, Seoul, Amsterdam, Oslo and Tokyo — are already on their way to becoming “smart.” So, what makes a city smart? That label is still quite abstract
Canadian election coming Trudeau is riding high with Canada’s vaccine rollout amongst the best in the world. The country leads the world in first doses delivered and cases have fallen dramatically in the last month or so. Trudeau is aiming to parlay that result into a majority government. He currently governs with a loose minority
The low today was lower than yesterday’s but above the low on Wednesday The USDCAD reached its high this week on Monday at 1.24863. That high was also the highest level since April 26, and took out the high from last week at 1.24801. However, that new high was only 6 pips above the April
Gold prices held steady on Friday as investors awaited US inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. FUNDAMENTALSSpot gold was flat at $1,773.52 per ounce by 0104 GMT. Prices have risen 0.6% so far this week. US gold futures eased 0.2% to
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