While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and Australian Dollars are the strongest ones for the week. Canadian Dollar is lagging far behind
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An official at China’s Ministry of Industry and Information Technology warned of risks posed by network security issues such as network attacks and network intrusions. Flagged increased regulation to protect on issues such as the collection of personal information. The report comes via Bloomberg, link (may be gated) and needs to be read in light of the
PERAK, MALAYSIA/SINGAPORE: In a sprawling oil palm plantation in the Malaysian state of Perak, watermelon seedlings are sprouting from freshly ploughed earth between palm saplings while rented cows graze in overgrown areas of the estate. A coronavirus pandemic-induced labour crunch has forced managers of the 2,000-hectare estate in Slim River to find creative ways to
China and Hong Kong buy over 50% of Brazilian beef exports. Brazil discovered two cases of “atypical” mad cow disease in two separate domestic meat plants ( ”atypical” means the disease develops spontaneously, not related to eating contaminated foods) only the 4th and 5th cases of atypical mad cow disease detected in Brazil in 23 years
NEW YORK: Oil prices fell on Friday after a weaker than expected US jobs report indicated a patchy economic recovery that could mean slower fuel demand during a resurgent pandemic. Losses were capped by concerns that US supply would remain limited in the wake of Hurricane Ida, which cut production from the US Gulf of
Texas in the winter of 2020 might be just a preview I have been writing lately about natural gas, warning that it’s the next commodity story to go mainstream. Now, it’s happening. The coming winter may give the world a painful lesson in just how pervasive and vital gas has become for the economy. Bloomberg
The most acceptable metal of the world since ancient times, gold, started its bull run in 2016 and saw continuous rise for five years till 2020. That followed a brief consolidation of 2-3 years. Prices rose from Rs 25,000 to Rs 56,000 level during this period. However, it has given up some of those gains
Dollar was under pressure most of the week and selling accelerated again after the big disappointment in employment data. The non-farm payroll report could show that job market recovery had made a “substantial setback” rather than “substantial further progress”. A tapering announcement from Fed in September is basically off the table. Overall development in US
NEW DELHI: Gold eked out decent gains in India on Friday, following global trends. The yellow metal saw buying on the back of a weaker dollar. Investors are waiting for the US jobs data to gauge the Federal Reserve’s plans to start tapering asset purchases. Gold futures on MCX were higher 0.25 per cent, or
Forex news for September 3, 2021: Markets: US 10-year yields up 3 bps to 1.324% Gold up $19 to $1828 WTI crude oil down 72-cents to $69.28 S&P 500 flat at 4536 AUD leads, USD lags If you bet on ADP enough times, eventually you’ll get it right. Not that ther ewas a big dollar
Overall developments in the markets are unchanged for the week. US stocks continued with recent up trend overnight. Dollar, Yen and Swiss Franc extended near term decline. New Zealand and Australian Dollars are the strongest one, followed by Euro and then Sterling. Main focus will now turn to US non-farm payroll report. High volatility is
It’s Labor day (and next Tuesday will be a slow one as well) Look for trading to thin out early today with the US and Canada headed for a long weekend. The New York Stock Exchange is closed Monday while here’s a look at the CME schedule: In the bond market, SIFMA didn’t recommend an
BSE on Friday announced that it has completed one month since launch of SUFI Steel futures contracts on the exchange platform, and has facilitated the delivery to the tune of 90 MT in the first full expiry cycle at the exchange designated delivery centre in Raipur. Mr Sameer Patil, chief business officer of BSE said
Dollar spikes lower in early US session after huge NFP miss. But the selloff is only firm against commodity currencies at the time of writing. In particular, the greenback is trying to recovery against European majors, as well as Sterling. Traders might need a bit more time to make up their mind. While a September
Russian gas giant Gazprom has started to move away from the US dollar to China’s yuan Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Gazprom Neft is the oil arm of Russia’s Gazprom, its CEO has said its begun to move away from the U.S. dollar to China’s
MELBOURNE: Oil prices dipped on Friday after posting strong overnight gains on a weaker dollar and a bigger-than-expected fall in US crude stocks and were headed for small gains on the week ahead of a highly anticipated US monthly jobs report. US West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $69.75