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G7 strikes deal G7 finance ministers in London agreed on the outline of a global deal on taxation that would set a floor for corporate rates around the world. The group will now take the deal to the G20, where an agreement could come as soon as next month. The agreement is no surprise. Leaders
By Navneet Damani Gold prices rose nearly 7 per cent in May, marking the second green candle for the year so far. The yellow metal traded with high volatility in the range of $1,765 to $1,913, and marked the highest level in four and half months. Similarly, silver also traded with high volatility and ranged
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out of 5 PADDs. PADD 3 (Gulf
Video released from the start of the fire An enormous fire at the storage facilities of a Tehran refinery on the same day as a fire sank an Iran navy ship sparked speculation about sabotage. It was heightened because Iran is deep in nuclear negotiations. Yet video today of the start of the fire shows
Gold rebounded from a more than two-week low on Friday after U.S. nonfarm payrolls did not rise as much as expected, although bullion was still on course to register its biggest weekly decline since March. Spot gold jumped 1% to $1,889.27 per ounce by 1:46 p.m. EDT (1746 GMT), having earlier in the day hit
Dollar was in a pole position to end as the strong one but was the unfortunately knocked down by solid, but disappointing non-farm payroll report. The data did nothing to alter the base position of Fed officials that, it’s only time to talk about talking about tapering for now. Some more time is still needed
Forex news for North American trading on June 4, 2021 The US employment report showed a gain of 559K (with revisions of +27K) but that was not enough to satisfy those looking for tapering sooner rather than later. The expectations was for 675K (with the whisper levels likely higher than that given the tepid 266K – revised to 278K – last
NEW DELHI: Copper prices on Friday traded up by 0.07 per cent at Rs 734.70 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 June traded higher by 55 paise, or 0.07 per cent, at Rs 734.70 per
Dollar drops notably in early US session after another NFP miss. It has now reversed all of yesterday’s late gains. Canadian Dollar also turns softer after weaker than expectation job data. On the other hand, other commodity currencies strengthen mildly. In other markets, US future turn up on expectation Fed is not closer to tapering.
US April factory orders -0.6% vs -0.2% expected Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT April US factory orders and durable goods orders revisions: Prior was +1.1% (revised to +1.4%) Ex transport +1.0% vs +1.7% prior Revisions to durable goods: US durable goods orders -1.3% vs -1.3%
NEW DELHI: Gold in the national capital declined by Rs 388 to Rs 47,917 per 10 gram on Friday amid muted global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,305 per 10 gram. Silver also tumbled Rs 920 to Rs 69,369 per kilogram from Rs 70,289
Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today’s non-farm payroll report. As of now, Yen is the second strongest for the week, following the green back. Canadian Dollar is the third strongest, and will face the test of its own
Reuters with a snippet via Nippon TV, the broadcaster having obtained a draft of the country’s ‘fiscal beluepritn’. Japan’s government will say the country must “aim to” achieve its fiscal target bearing in mind that its fiscal state is in dire straits from spending to combat the coronavirus pandemic government must lay the groundwork towards
Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve. Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led
All eyes on employment The numbers today emphasized just how important non-farm payrolls are tomorrow. The turn we’re seeing in markets is all about the employment component of ISM services. It’s often a better predictor of the jobs report than ADP. It fell to 55.3 from 58.8 in April. With that, the US dollar has
NEW DELHI: Gold in the national capital on Thursday dipped Rs 339 to Rs 48,530 per 10 gram following decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,869 per 10 gram. Silver also tumbled Rs 475 to Rs 70,772 per kilogram from