Highlights of the Markit US PMIs Prior was 64.6 In services “some firms noted customer hesitancy amid significant hikes in selling prices” Firms noted the lowest degree of optimism since February New export orders eased Manufacturing 63.1 vs 62.1 expected Composite PMI 59.7 vs 63.7 prior Full report This is a five-month low for the
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NEW DELHI: Coriander prices on Friday rose Rs 64 to Rs 6,932 per quintal in futures trade as speculators widened their holdings tracking a firm trend at the spot market. On the National Commodity and Derivatives Exchange, coriander for August delivery went up by Rs 64, or 0.93 per cent, to Rs 6,932 per quintal
Trading in Asian session is relatively subdued today, as some participants are already looking forward to the weekend, after a roller coaster ride. Canadian Dollar is currently the strongest one for the week, helped by rebound in WTI oil price, which is back above 71. However, New Zealand and Australian Dollars are the worst performing
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New Delhi: Gold in the national capital on Thursday dipped Rs 264 to Rs 46,452 per 10 gram with decline in global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade on Tuesday the precious metal had closed at Rs 46,716 per 10 gram. In contrast, silver gained marginally by
The ECB has updated the forward guidance on the policy rate, reflecting the new inflation target concluded in the strategic review. All monetary policy measures stay unchanged as it strives to achieve the symmetric 2% inflation target: The deposit rate stays at -0.5%, the total Pandemic Emergency Purchase Program (PEPP) envelope remains at 1.85 trillion
D.R. Horton said orders fell by 16.5% D.R. Horton, the largest US homebuilder, reported strong earnings today but shares are down 5% after it said sales orders fell by 16.5% in the quarter. Volatility in lumber prices, labor shortages and buyer skittishness are likely behind the dip. I tend to think the market is overreacting.
NEW DELHI: Gold prices slipped on Thursday as the risk appetite of the investors improved. They looked to bet on riskier assets after a sharp fall earlier this week. However, the fall in precious metals was capped on . The dollar remained stronger and investors looked past economic threats from rising cases of the Delta
Dollar and Yen lost their position as the strongest ones as US stocks staged another day of massive rebound overnight, together with treasury yields. On the other hand, Canadian Dollar is currently the best performer for the week, helped by WTI crude oil’s reclaim of 70 handle. But Aussie and Kiwi remain the weakest at
124 new cases today – the highest in this wave. 48 of these were circulating in the community for all of thier infectious period 39 for part of their infectious period more to come The news from the state to the south of NSW (Victoria, also in lockdown) was also worse today: Invest in yourself.
LONDON: Oil prices rose on Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories last week and a weaker demand outlook due to rising COVID-19 infections. Brent crude futures gained 97 cents, or 1.4%, to $70.32 a barrel at 1136 GMT,
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +4.42 mmb to 1275.28 mmb in the week ended June 16. Crude oil inventory increased, for the first time since mid-April, by +2.11 mmb (consensus: -4.47 mmb) to 439.69 mmb. Stockpile increased in 3
Back to the 1.25% area The big question is whether yesterday’s drop and reversal is the bottom in yields or a bounce. Today’s follow through is positive for risk trades and you can see that unfolding in GBP and CAD at the moment; two currencies that have been tightly aligned with risk trades and are
London copper prices fell on Wednesday, dented by a stronger dollar which rose on worries about climbing COVID-19 cases worldwide. Three-month copper on the London Metal Exchange fell 0.5% to $9,2792 a tonne by 0732 GMT. The most-traded August copper contract on the Shanghai Futures Exchange tracked overnight gains in London to close up 0.2%
While US stocks staged a strong rebound overnight, the moves didn’t follow through in mixed Asia. There is also little reaction in the currency markets. Yen and Dollar remain the strongest ones for the week, despite retreating mildly. New Zealand Dollar is the worst performer, followed by Aussie and then Sterling. Euro is not performing
Flash reading for June retail sales come in much, much lower than expected -1.8 % m/m State of Victoria the worst at -3.5%, lockdown impact. NSW will be worse in July as its lockdown weighs, but in June wasn’t great at -2% — Background to this is here: Invest in yourself. See our forex education
New Delhi: Gold in the national capital on Tuesday gained Rs 253 to Rs 47,100 per 10 gram amid supportive global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,847 per 10 grams. Silver slipped Rs 61 to Rs 65,730 per kilogram from Rs 65,791 per kilogram
ECB’s conclusion of the strategy review on July 8 has made this week’s meeting very important. Policymakers adjusted the inflation target to a symmetric 2%, allowing a temporary overshoot. Despite the significant change, no monetary policy is expected to change in July. We only expect some changes in the forward guidance, in reflection of the