National Commodity and Derivatives Exchange Limited (NCDEX) on Tuesday launched the futures contract on the index NCDEX SOYDEX for September and October expiries. Today’s launch is the second successive offering in the sectoral indices in agri-commodities basket, the first being the NCDEX GUAREX, which was launched on August 16 of this month. NCDEX SOYDEX is
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Slips into contraction The commentary on the results from Markit is extensive, reproduced below. Bolding is mine: “The Caixin China General Manufacturing PMI came in at 49.2 in August, down from 50.3 the previous month and falling into contractionary territory for the first time since April 2020. The reappearance of Covid-19 clusters in several regions
Euro jumps notably today, as supported by highest inflation reading in a decade, and hawkish comments from an ECB official, as well as rise in German yields. Though, it’s slightly outshone by Kiwi, Aussie and Swiss Franc for now. On the other hand, Dollar’s selloff continues to pick up momentum and even dips against Yen.
US August consumer confidence 113.8 vs 124.0 expected Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT US August consumer confidence data from The Conference Board Prior was 129.1 (highest since the start of the pandemic) This is the lowest since Feb Estimates ranged from 110.0 to 131.0 Details:
The latest data revealed that China’s economy continued to lose momentum. The PMI report from the National Bureau of Statistics (NBS) showed disappointment in both manufacturing and services activities. Stability of the renminbi (a.k.a. Yuan, CNY) is mainly due to government’s control and is not reflective of the headwind the economy is facing. We expect
New Delhi: Gold in the national capital on Tuesday dipped Rs 100 to Rs 46,272 per 10 gram amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,372 per 10 gram. Silver also dipped Rs 134 to Rs 62,639 per kilogram from Rs 62,773 per kilogram
Premier Dan Andrews says Victoria will remain in lockdown, surprising no-one. Andrews has been intent on pursuing Covid-zero from day one of the outbreak and he isn’t changing that goal any time soon. Says restrictions will ease as numbers come down. He will relax a little as vaccination rates rise, look for around 70% and
NEW DELHI: Copper prices on Monday traded up by 0.59 per cent at Rs 723.25 per kg in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in September traded higher by Rs 4.25, or 0.59 per cent, to Rs 723.25 per
Trading is relatively subdued in Asian session today with most major pairs and crosses staying inside Friday’s range. Some additional pressure is seen in USD/JPY but loss is so far limited. Markets seemed to have well digested Fed Chair Jerome Powell’s balanced message on tapering already. Attention will turn to this week’s heavy-weight data like
Trudeau’s decision to call an election looks like a disaster Canadian Prime Minister Justin Trudeau called an election two-years early hoping to ride Canada’s early vaccination success along with a solid overall handing of the pandemic and NAFTA to a majority government. That decision looks to have backfired in a big way. Polls showed he
New Delhi: Gold in the national capital on Monday dipped Rs 199 to Rs 46,389 per 10 gram amid a correction in global precious metal prices along with rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,588 per 10 grams. Silver also dipped Rs 250 to
Selling of Swiss Franc is somewhat the biggest theme in a very quiet day so far, with UK on holiday. On the other hand, some buying is picking up in Canadian Dollar. But overall, markets are mixed without a clear direction yet. Main focus will firstly be on whether US stocks could extend last week’s
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The closely-awaited Jackson Hole speech by Fed chair Powell reaffirmed that QE tapering would begin later this year. While being more upbeat about the progress of employment and inflation, Powell warned of the downside risks posed by the rapid spread of the delta variant. He also attempted to de-link taper and rate hike, causing instant
Singapore has hit its 80% fully inoculated target (the population of Singapore is 5.7 million people). Singaporean authorities have previously said they’ll be further easing COVID-19 restrictions after hitting the 80% milestone. Great work SG. Meanwhile in Australia: Sydney (NSW state as a whole, but most is Sydney) reported 1026 on Saturday and reported 1218
The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the previously agreed increase of 400,000
The Cyberspace Administration of China (CAC) is the country’s cyberspace regulator. Says it’ll be examining accounts on social media (China describes ‘self media’ as accounts posting news that are not officially registered with authorities) posting economic and financial information, on the lookout for (example): financial news released illegally distorted economic policy interpretation badmouthed financial markets spread