A Saturday vote in the US Senate, 67-27 vote in favour of a move to limit debate on the legislation 18 of the 50 Senate Republicans voted in favour this is a procedural agreement, not approval of the actual bill Negotiations continue on amendments and there are some pundits suggesting work on the legislation could be
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The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of
In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7% China’s trade surplus with the United States ( Reuters calculation) $35.4
NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came under pressure as the dollar strengthened after monthly US job growth
Despite recovery, crude oil prices are prone to record the first decline in 3 weeks. The sharp selloff earlier in the week is a result of a confluence of factors including resurgence of the pandemic in the US and China, China’s economic slowdown and OPEC+’s plan to increase output. The rapid spread of the delta
The Chinese trade data for July 2021 will be released on Saturday (China time). I was expecting it on Friday (yesterday), nope. In USD terms: Trade balance: expected $51.54bn, prior was $51.5bn Exports: expected +20.8% y/y, prior +32.2% (global demand outweighed shipping delays in June for a strong result) Imports: expected +33.0% y/y, prior was
Dollar jumps sharply in early US session after stronger than expected non-farm payroll data. If job growth could sustain at current page in August, more FOMC members would be ready to call for tapering in Q4. Euro, Swiss Franc and Yen are the most responsive to Dollar buying so far. Sterling is staying resilient. Meanwhile,
Pres. Biden: New Delta wave of Covid 19 will be very different to deal w/ given vaccinations Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Pres. Biden speaking Jobs data proves that his approach to the economy is working Says his comments are not one of celebration. There is
NEW DELHI: Gold prices slipped lower on Friday in domestic markets, following the global footsteps. The US dollar held firm as more Federal Reserve officials signalled the possibility of a sooner-than-expected policy tightening. Gold futures on were down 0.22 per cent or Rs 105 at Rs 47,498 per 10 grams. Silver futures traded 0.39 per
Dollar is trying to extend this week’s recovery in Asian session, as focus turns to non-farm payrolls reports. Whether Fed would start tapering asset purchases by the end of the year, or earlier, would very much depend on the job data in Q3. Elsewhere, Aussie is trading a touch softer after dovish comments from RBA
The dollar is keeping steadier ahead of European morning trade It is all about the US non-farm payrolls report later today as the market will be looking forward to that in order to gather more clues on any “substantial further progress” in labour market conditions, which the Fed is looking for. USD/JPY saw a solid
NEW DELHI: Gold prices edged lower on Thursday in domestic markets, tracking global cues as the dollar held firm. A top US Federal Reserve official signalled the possibility of bringing forward policy tightening. Gold futures on were down 0.09 per cent, or Rs 45, at Rs 47,847 per 10 grams. Silver futures traded 0.25 per
The BOE voted unanimously to keep Bank rate at 0.1%, and 7-1 to leave purchases of government bond at 875B pound. While the latter decision came less hawkish than we had anticipated (we expected 2 dissents), British pound got a boost as policymakers hinted about “modest tightening”. Upgrading Inflation Forecast The staff revised higher 2Q21
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New Delhi: Gold in the national capital on Thursday tumbled Rs 312 to Rs 46,907 per 10 gram amid weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,219 per 10 gram. Silver also plunged Rs 1,037 to Rs 66,128 per kilogram from Rs 67,165 per
Overall markets were rather mixed for the moment. Dollar’s selloff was quickly choked off by strong ISM services overnight, even though there is no clear follow through buying. Traders are holding off the bets for now, awaiting tomorrow’s non-farm payroll figures. Sterling will come to the center of the stage today first, with BoE super