Return of risk-appetite pushed DOW to new record overnight while Asian markets also firm up. Dollar was under some selling pressure, but it’s still kept in range against except versus Swiss Franc and Canadian Dollar. Focus will turn to non-farm payroll report from today. A strong set of data would prompt more risk-on sentiments and
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Consumer credit for March 2021 prior month revised to $26.13 billion from $27.57 billion. Last month surged by the most since late 2017 revolving credit +$6.4 billion to $0.980 trillion up 7.9% year on year nurses 10.0% last month nonrevolving credit $19.45 billion to $3.261 trillion up 7.2% year on year versus 6.7% last month Revolving credit
NEW DELHI: Copper prices on Friday traded up by 0.77 per cent at Rs 776.55 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 May traded higher by Rs 5.90, or 0.77 per cent, at Rs 776.55 per
BBC reports that SNP and allies will have a majority Sterling could come under pressure when markets reopen with Scottish pro-independence parties taking a majority. It’s close, but the BBC now forecasts that they have enough votes. The Scottish National Party itself is seen falling just short but with the support of the pro-independence Green
Copper soared this week to an all-time high, continuing a sizzling rally that’s seen prices double in the past year. The previous copper record was set in 2011, around the peak of the commodities supercycle sparked by China’s rise to economic heavyweight status — fueled by massive amounts of raw materials. This time, investors are
Dollar dropped broadly last week and ended sharply lower, as the huge non-farm payroll miss gave a strong node to Fed’s patient approach. Progress could only be consider substantial as seen in realized economic data, rather than projected outlook. It’s right that Fed is not even in a position to consider tapering. The expectation that
A number of newer issues will be reporting next week as a number of newer issues reporting. Along with some old standbys including Marriott, Toyota, Wendy’s, Disney, and Honda. Below is a day by day summary of the major releases: Monday: Marriott Tyson Foods Roblox Tuesday EA Nissan Lemonade Palantir Wednesday Toyota Softbank Wendy’s Bumble Thursday Disney
Domestic gold futures swung between gains and losses with a positive bias on Friday as spot gold hit a more than two-month high above the $1,800 per ounce mark amid weakness in the dollar. With a weekly gain of almost 3 per cent so far, bullion was on track to clock its best week since
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Forex news for New York trade on May 7, 2021: Markets: Gold up $16 to $1832 US 10-year yields up 1 bps to 1.58% WTI crude flat at $64.67 S&P 500 hits record 4328 EUR and AUD lead, USD lags The non-farm payrolls report certainly made for an interesting trading day and the repercussions of
Gold jumped more than 1% en route to its best week since November last year after an unexpected drop in US jobs growth in April hastened a retreat in the dollar and Treasury yields. Spot gold rose 0.9% to $1,832.07 per ounce by 12:09 p.m. EDT (1609 GMT), after hitting its highest since Feb. 11,
Dollar dives sharply in early US session after huge employment data miss. Canadian Dollar is slightly weaker, also on job data disappointment. Euro and Swiss Franc are quick to jump on assaulting the greenback. But Yen is not too far behind, as stocks could be under some pressure after the data. As for the week,
BofA notes that gold funds attracted its largest inflow in three months in the week to Wednesday but warns of the outlook Citing EPFR data, BofA highlights that gold funds garnered $1.6 billion in the week to Wednesday, the largest inflow in three months. However, the firm warns that “the bad news is global tapering
NEW DELHI: Gold prices on Friday hovered near its 2-1/2-month high, aided by a pullback in the dollar and Treasury yields as investors cautiously await US non-farm payrolls data for further cues on the health of the world’s biggest economy. Despite the economic optimism, Federal Reserve policymakers seem unlikely to budge on their accommodative stance
The latest data suggests that China’s economy continues to improve in the second quarter. The Markit/Caixin services PMI increased to 56.3 in April, highest since December 2020. The reading also beat consensus of 54.2 and March’s 54.3. Separately, China’s trade surplus tripled in April, compared with a month ago. Markit/Caixin services PMI Besides the strong
What’s expected for the April 2021 non-farm payrolls report Consensus estimate +1000K Private +938K March +916K Highest estimate +2100K (Jefferies) Lowest estimate +700K (Prestige Economics) Average estimate +1035K Standard deviation +203K Unemployment rate consensus estimate: 5.8% vs 6.0% prior Participation rate consensus +61.6% vs 61.5% prior Prior underemployment U6 prior 10.7% Avg hourly earnings y/y
Domestic gold prices registered mild gains on Thursday as a weakening dollar overseas made the yellow metal more attractive for holders of other currencies. MCX gold futures (delivery on June 4) traded 0.18 per cent higher at Rs 47,086 per 10 grams at the last count, having risen to as high as Rs 47,263 during