The latest PMIs reveal that China’s economic activities eased in May. The Caixin services PMI eased to 55.1 in May from 56.3 a month ago, while the manufacturing PMI increased marginally, by -0.1 point, to 52.The detailed report suggests that new business slowed which price pressures intensified. The situation applies not only to the services
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Wrapping up the PMIs from China for last month. Services 55.1Composite 53.8 prior 54.7 Falls for both and both still in expansion. From the report: fall in overseas demand gauge of export orders into contraction rrowth in total new orders slipped services firms increased their staffing levels for the third straight month inflation pressures –
NEW DELHI: Aluminium prices on Wednesday fell 70 paise to Rs 195.35 per kg in the futures market as participants trimmed their positions on a low trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in June declined by 70 paise, or 0.36 per cent, to Rs 195.35 per kg in
The financial markets continue to be range bound today, as traders seem to be holding their bets before Friday’s US job report. Dollar is recovering mildly but it’s held below next term resistance levels. Sterling is currently the stronger one, while Swiss France is the weakest. Technically, we’re still staying near term bearish on the
Canada building permits for April -0.5% versus -5.0% estimate Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT April Canada building permits Canada building permits for April came in at -0.5% versus -5.0% estimate. Prior month 5.7% Total value of building permits $11.1 billion The permits remain near historic high levels.
NEW DELHI: Gold slipped by Rs 116 to Rs 48,772 per 10 grams in the national capital on Wednesday in line with a fall in global precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,888 per 10 grams. Silver also tumbled Rs 1,291 to Rs 70,836 per
Trading continued to be rather subdued in Asian session. Major pairs and crosses are staying inside yesterday’s range, as well as last week’s range. Sterling is currently the weakest one, after failing to follow through the rally attempt earlier this week. Dollar is the next weakest for now. On the other hand, Aussie and Swiss
Australian January – March economic growth data show a solid beat. 1.8 % q/q 1.1 % y/y AUD marked up above 0.7770 on the release, as I update not by much though. More: Q1 household spending +1.2% q/q household savings ratio 11.6% (down from 22% or so during the pandemic but well higher than the 4
NEW DELHI: Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,607 per 10 gram. Silver also jumped Rs 952 to Rs 71,850 per
Canadian Dollar jumps broadly today, following upside breakout in oil price, and partly supported by solid GDP growth data. Australian Dollar is following as the second strongest, while Dollar is also rebounding. On the other hand, Sterling reversed earlier rallies after failing to sustain above a key resistance against Dollar. Subsequent selloff sends the Pound
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NEW DELHI: Gold prices on Tuesday traded near a five-month high scaled last week, supported by a softer dollar and growing inflationary pressures. The precious metals extended gains in domestic markets on the back of mixed cues. Investors awaited key US data that will provide a clearer picture on the global economy’s recovery path. Market
As expected, the RBA left all monetary policy measures unchanged in June. Policymakers maintained a dovish tone, suggesting no rate hike at least until 2024. They also affirmed that some adjustments to the monetary policy would be made in July. On economic developments, while reiterating the “strong” growth outlook in 2021 and 2022, the central
China – Caixin/Markit Manufacturing PMI for May in line at 52.0 Key findings cited in the report: Total new business rises solidly, supported by stronger export sales Production growth softens slightly due to supply chain strain Staffing levels broadly stable as companies face steep rise in costs
NEW DELHI: Gold rose by Rs 195 to Rs 48,608 per 10 gram in the national capital on Monday following a gain in the precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,413 per 10 gram. Silver dipped marginally by Rs 15 to Rs 70,521 per kilogram
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance
Canada Q1 current account balance +$1.18B vs +$2.50B expected Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Canada current account data Prior was -$7.26B This was the first surplus since the third quarter of 2008 Trade in goods and services balance recorded a $2.1 billion surplus in the first quarter,
NEW DELHI: Zinc prices on Monday rose 0.15 per cent to Rs 238.20 per kg in the futures trade on a firm spot demand. On the Multi Commodity Exchange, zinc contracts for the June delivery rose 35 paise, or 0.15 per cent, to Rs 238.20 per kg in 2,275 lots. Analysts said fresh positions created