Philadelphia-area service sector data Prior was 53.8 Firm-level activity 37.2 vs 44.8 prior New orders 27.4 vs 31.8 prior Wage and benefit cost index 43.0 vs 50.2 prior Full time employment index 8.2 vs 24.8 prior This is a low-tier indicator. Here was the special question, which relates back to inflation expectations — something the
News
New Delhi: Gold in the national capital on Tuesday jumped Rs 170 to Rs 46,544 per 10 grams despite rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,374 per 10 grams. Silver also gained Rs 172 to Rs 61,584 per kg, from Rs 61,412 per kg
New Zealand Dollar rises broadly today after a top RBNZ official indicated that the decision to refrain from rate hike was mainly due to communication difficulty. Instead, the central bank is actively considering a 50bps hike. Strong rebound in Asian stocks also supported other commodity currencies, but positive sentiment is not much carried through to
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 of your initial investment; do
NEW DELHI: After a sharp correction, if you are looking to buy gold and silver at the current levels then it may be better to wait as analysts believe precious metals will remain under pressure. Silver prices have seen a sharp plunge from Rs 69,000 a kg to Rs 62,000 in the last one month.
Following the FOMC minutes, the attention turns to the Jackson Hole symposium later this week. We expect that the Fed would make formal announcement of QE tapering at the November meeting. With a tapering size of US15B at each meeting, the entire QE program would be complete by September 2022. As the big picture of
Composite reading from the Chicago Fed Prior was +0.09 (revised to -0.01) Was +0.26 in May (revised to +0.15) This report is a composite reading of 85 already-released economic indicators. Anything above zero is positive and is broken into four broad categories: production and income; employment, unemployment, and hours; personal consumption and housing; sales, orders,
NEW DELHI: After seven straight months of net inflows, gold exchange traded funds witnessed a pullout of over Rs 61 crore in July as investors diverted their money to equity and debt funds that generated attractive returns. Despite the negative flows in the category, the number of folios went up to 19.13 lakh in July
Markets continue to reverse some of last week’s move, as seen in the rebound in European and Asian equities. Dollar, Yen and Swiss Franc all turned weaker while commodity currencies strengthened. PMIs from Eurozone and UK are all solid, despite mild pull back. Yet, both are outshone by commodity currencies. Sterling is currently having a
Jibun / Markit flash manufacturing PMI for August, wilting from July but still in expansion. Services: 43.5 (vs. July’s 47.4) Composite: 45.9 (July 48.8) Commentary from the report, in brief: weaker demand to ongoing COVID-19 restrictions, coupled with sustained supply chain pressures decline in overall private sector activity was led by the larger services sector,
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact us: contact@actionforex.com
Feds Powell to speak at 10 AM ET on Friday August 27 Next week’s key events and releases will be highlighted by the Jackson Hole symposium which will take place from August 26 through August 28. The main speech made by Fed chair Powell, will take place on August 27 at 10 AM ET/1400 GMT. The market will be
Total cases now at 51 Optimism that New Zealand can contain its covid outbreak is fading after details of 21 new cases were reported. PM Jacinda Ardern said it was “very likely” the nationwide lockdown would be extended beyond Tuesday. Because of extensive contact tracing and transparency, we’re also getting details of the people who
Gold prices were flat on Friday, as a firmer eclipsed support from rising anxiety over increasing cases of coronavirus’ Delta variant that could delay economic recovery. FUNDAMENTALSSpot gold was flat at $1,780.43 per ounce by 0056 GMT, while US gold futures was little changed at $1,782.40. The dollar index held near a more than a
PBOC left the loan prime rate (LPR) unchanged at 3.85% in July. The inaction does not suggest that the current monetary policy is appropriate. Weakness in economic activities is expected to exacerbate in the second half of the year, thanks to the resurgence of the pandemic and the lingering consequences of the flood. Speculations of
Full approval could aid with vaccine hesitancy A common refrain for US anti-vaxxers is that they want full FDA approval before getting the vaccine. Whether that’s a real reason or flimsy excuse will be put to the test in the near future as the New York Times reports the agency is planning to give full
NEW YORK: prices closed out their biggest week of losses in more than nine months with another down day on Friday, as investors sold futures in anticipation of weakened fuel demand worldwide due to a surge in COVID-19 cases. The crude market has now posted seven consecutive days of losses. Numerous nations worldwide are responding