Month: July 2023

Gold prices pulled back on Wednesday from a 1-1/2-month high scaled in the previous session even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve‘s interest rate-hike stance. * Spot gold was down 0.1% at $1,978.09 per ounce by 0043 GMT, after hitting its highest since

The headline: Westpac Leading Index for June +0.11% m/m (prior -0.26%). More attention is paid to the Leading Index growth rate, as below: Westpac’s summary from their report: The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of Australian economic activity relative to trend three to nine months

Asian markets presented a subdued trading environment today, despite overnight rallies in their US counterparts. A notable exception is that Hong Kong’s stock market underwent a significant tumble, taking a step back after a day off. Elsewhere, indices generally hovered around flat levels within a tight range. In the realm of currencies, most major pairs

Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts had fallen more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the partial restart of some Libyan oilfields. Brent crude

> US business inventories for May +0.2% versus 0.2% expected US business inventories for May 2023 Prior month 0.2% revised to 0.1% Business inventories 0.2% versus 0.2% expected Retail inventories ex autos -0.1% versus -0.3% last month In May, the combined value of distributive trade sales and manufacturers’ shipments reached an estimated $1,822.1 billion. This

Canadian Dollar is having a mild slump in early US session following lower-than-expected headline CPI reading. However, the currency’s slide was largely restrained, primarily due to the base-year effects of gasoline prices contributing to the deceleration in consumer inflation. Concurrently, Australian and New Zealand Dollars also experienced a slight dip amid mixed risk sentiment. Euro,