Prices of copper, often used as a gauge of global economic health, advanced on Monday on hopes of stronger demand for metals and amid a sustained US economic recovery after data showed an acceleration in hiring in the world’s biggest economy. Three-month copper on the London Metal Exchange was up 0.5% at $9,427.50 a tonne,
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Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lamarque | Reuters Halfway through 2021, and about six months into the Biden administration, the U.S. economy has by many metrics made a full recovery from the
Gold price takes a breather after the recent rally, as focus shifts to Fed minutes. In the view of FXStreet’s Dhwani Mehta, XAU/USD is set to eye further upside above the $1795-$1797 region. Investors reassess Fed’s hawkish moves “Gold price is struggling below the 100-DMA barrier at $1790 this Monday, partly lagged by the broad-based
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A Vitol executive speaking over the weekend, said that the 400K barrel per month (through to the end of this year) increase in supply being proposed by OPEC+ is insufficient to hold prices from rising. “There is very little doubt, that whatever OPEC agrees by way of lessening of the cutbacks it will surely ….
New highs for the EURUSD The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of 1.18602, taking out the earlier high at 1.18588. The next targets comes against the 38.2% retracement of the move
Petrol neared Rs 100 mark in the national capital as prices were hiked by 35 paise on Sunday. Oil Marketing Companies hiked prices on Sunday after keeping them unchanged for a day. Petrol is selling at Rs 99.51 per litre in Delhi while diesel is priced at Rs 89.36. In the other key cities too
Initial filings for unemployment insurance fell sharply last week, indicating continued improvement in the U.S. jobs market, the Labor Department reported Thursday. First-time jobless claims totaled 364,000 for the week ended June 26, compared with the 390,000 Dow Jones estimate. That marked a new pandemic-era low and a decline of 51,000 from the previous week.
CareDx, CrowdStrike, Fate, Therapeutics, HDFC Bank, Spotify Elliott Wave Technical Analysis: Elliottician is Alessio Barretta TradingLounge CareDx Inc.,CDNA: Daily Chart, We were expecting an incoming wave 4. CrowdStrike Inc.,CRWD: Daily Chart, we were expecting further upside to continue wave iii) Fate Therapeutics IncFATE: Daily Chart, We were expecting a resumption of the trend to start wave iii) HDFC
Europe knows it will have to embrace a digital euro soon. To become a global digital leader and avoid dependence on American and Asian technological infrastructures, European policymakers and regulators have to make progressive decisions. A critical stumbling block for Europe’s digital economic thinking is so-called stablecoins. Stablecoins can be privately issued and have the
The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday. The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the
The bias tilts more to the upside The NZDUSD is trading above its 200 hour moving average and 50% retracement of the move down from last week’s high. Both those levels come in at 0.70200. The price just moved above that level and currently trades at 0.7032. The next target comes in at the 200 day moving average
Sales volume of real-time power market (RTM), which allows consumers to buy power just one hour before delivery, jumped over three-fold to 1,726 million units in June compared to the year-ago month at (IEX). The RTM was launched last year on June 1, and had witnessed sales of 515 MU in the first month of
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -4.58 mmb to 1278.28 mmb in the week ended June 25. Crude oil inventory slumped -6.72 mmb (consensus: -4.69 mmb) to 452.34 mmb. Stockpile decreased in 4 out of 5 PADDs. PADD 3 (Gulf
The federal government will be swimming in $3 trillion of red ink by the end of fiscal 2021, according to a Congressional Budget Office estimate released Thursday that swelled 33% from the last forecast. As a result of multiple stimulus measures aimed at combating the pandemic’s economic impact, Congress will run a budgetary shortfall this