Preview comments via Scotia: As some restrictions eased in parts of the country, most expect a slight improvement perhaps back into the black on the manufacturing and non-manufacturing PMIs. The prior month’s reading had already begun to show a lessening contraction. No longer forcing people to be confined to their homes while basically under house
News
TOKYO, – Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production. U.S. West Texas Intermediate (WTI) crude futures slid 44 cents, or 0.4%, to
Canadian Dollar and Swiss Franc continue to be the stronger ones in subdued trading. Euro and Dollar and trailing for now. On the other hand, Aussie and Kiwi are still the underperformer, despite recovery attempt in Asian session. Stock markets are also sluggish while gold and oil are range bound. Focuses will turn to ECB
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold price in the national capital rose by Rs 52 to Rs 50,770 per 10 grams on Tuesday, according to Securities. In the previous trade, the yellow metal settled at Rs 50,718 per 10 grams. Silver, however, slipped by Rs 60 to Rs 60,128 per kg from Rs 60,188 per kg in the previous trade.
Yen is back as the worst performer on improving risk sentiment and rising yields. Dollar is trying to rally in early US session following rise in treasury yields. But strength is mainly seen against European majors and Yen only. Canadian and Australian Dollars are resilient so far. In other markets, Gold is largely staying in
Australian business confidence from the monthly survey (Roy Morgan Business Confidence index) fell by 2.9 points (-2.9%) to 97.3 this is its second straight monthly decline its now at its lowest since September 2020 Commentary from the report makes for grim reading if you are interested: The biggest issues during the month were related to
June 28: Gold prices were nearly flat on Tuesday, as recent gains in Treasury yields prevented any significant interest in bullion. FUNDAMENTALS * Spot gold was last up 0.1% at $1,824.65 per ounce by 0056 GMT. U.S. gold futures were flat at $1,824.70. * A move by Britain, the United States, Japan and Canada to
The forex markets are rather quiet in Asian session today, even though risk sentiment is positive. Most major pairs and crosses are staying inside Friday’s range, even though Yen is slightly stronger with Swiss Franc and Euro. Commodity currencies are generally soft, except Canadian, which is indeed trading notably higher against Aussie and Kiwi. Technically,
Prior was -3.9% Year-over-year -12.0% vs -11.5% prior Index 99.9 vs 99.3 prior First rise in six months This is a lagging indicator but it was notably strong. Last week, US new home sales were also strong and home builders had a good week. There is an extreme amount of bearish commentary around US housing
Gold traded well within the range seen for the last few days but ended lower marking its second weekly decline. Gold traded in a narrow range above $1800/oz and ended last week with a modest 0.6 per cent decline. Gold has been stuck in a range as the central banks’ emphasis on monetary tightening has
Price actions in forex markets are indecisive today. Dollar is trying to rise after better than expected durable goods orders. It’s also support by recovery in treasury yields. But there is no follow through buying. Canadian Dollar is still the relatively firmer one while Euro is also up slightly. Yen and Aussie are the weakest
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
London copper prices dropped to a 16-month low on Thursday, as worried mounted that a rise in COVID-19 cases in key consumer China and aggressive U.S. interest rate hikes would tip the global economy into recession and slow metals demand. Three-month copper on the London Metal Exchange was down 1.7% at $8,628.50 a tonne, as
European energy policy today is a clash of idealism with reality. The energy crisis last winter with another one set to come this year is a sign of a political class that’s experienced in sloganeering and little else. Some countries are now trying to plan more-constructively for the next phase, which is the transition from
New Delhi: Oil marketing companies (OMCs) have lost an estimated ₹10-12 on the sale of a litre of petrol and diesel in the current quarter, which can be only partly offset by increased refining margins, brokerage ICICI Securities said in a note on Thursday. “Despite the strength seen in refining, overall earnings for OMCs will
Beijing will reopen primary and secondary schools for in-person classes. Senior and middle high schools were allowed to return to classrooms from June 2, now all are reopening. Beijing shut its schools in early May and moved to online learning. It’s a mixed bag still in Shanghai. The city’s Communist Party chief spoke on Saturday,
Oil prices rose slightly in early Asian trade on Friday as nations seek to address global crude oil and fuel supply tightness. Brent crude futures rose 39 cents, or 0.4%, to $110.44 a barrel at 0012 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 37 cents, or 0.4%, to $104.31 a barrel. The