At today’s meeting, the BOE voted unanimously to leave the Bank rate unchanged at a record low of 0.1%. Meanwhile, the central bank voted 8-1 to keep the asset purchase program at 895B pound, of which 875B pound is government bonds. Policymakers also announced to slow the pace of asset purchases so that the program
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Latest data released by Markit – 6 May 2021 The downturn in construction activity continues in April but the thing to note from the report is unprecedented levels of supply disruption, which has caused input price inflation to climb to its highest since survey records began in 1999. Looking at the details, commercial activity continues
NEW DELHI: Gold prices inched higher on Thursday due to a weaker dollar, while investors awaited the release of US non-farm payrolls data for April due later this week. The US economy may be growing more quickly and unemployment falling faster than the core of Federal Reserve policymakers projected in March, Fed Governor Michelle Bowman
Australian Dollar trades generally lower today, after China announced to “indefinitely” suspended all activities under the China-Australia Strategic Economic Dialogue. But the spike on Aussie was relatively shallow and short-lived. Traders are quick to remember that the tariffs by China on some Aussie products didn’t had much material impacts on the latter’s export performance. Additionally,
There are too many people who want to gamble The line between gambling, trading and investing has always been finer than anyone in this industry admits. All investments are essentially a bet on the future. What’s changed lately is that traders don’t seem to care about anything but price. When crypto first boomed there were
Domestic gold prices held steady near Rs 46,900 per 10 grams on Wednesday as a rising dollar made the yellow metal less appealing for holders of other currencies. MCX gold futures for June 4 delivery traded nearly unchanged at Rs 46,879 per 10 grams at the last count, down by Rs 8 on the day,
Commodity currencies continue to trade as the stronger ones entering into US session. In particular, Canadian is helped by extended rally in oil prices. New Zealand Dollar continues to receive support from better than expected job data. Overall sentiments are positive with European stocks staging a rebound, while US futures point to recovery. Euro is
Latest data released by Markit – 5 May 2021 Prior 48.1 Composite PMI 55.2 vs 52.2 expected Prior 50.1 Invest in yourself. See our forex education hub. The Spanish services sector returns to growth as an improving virus situation bolsters activity and new business in general. This provides some confidence towards the outlook in 2H
NEW DELHI: Gold prices were almost flat on Wednesday, as concerns over possibility of a higher US interest rates countered a subdued dollar, while palladium held firm after scaling a record high in the previous session. The gain in US treasury yields over the comments of rate hikes from Treasury secretary Jennet Yellen pressured gold
Trading continues to be relatively subdued in the forex markets. US Treasury Janet Yellen’s comments prompted selloff in stocks overnight. But reactions in currencies were just mild, with most pairs and crosses range bound. Strong job data from New Zealand is giving the Kiwi a lift, while Aussie is supported by strong construction data. Yen
Positive day for crude It has been a great day for risk trades but oil has managed its third-best close of the year — finishing narrowly below the March highs. It settled up $1.20 to $65.69, which was just off the session high of $65.84. There was a 30-cent pop in the final minutes of
Prices of rubber, an industrial commodity, jumped on Tuesday to the highest level in nearly a month amid supply shortage, adding to a rebound that began last week as firm demand along with positive cues in the international market boosted sentiments of market participants. rubber futures due for delivery on May 31 traded 1.52 per
Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed by Sterling. Technically, we’d maintain the
UK stocks gain in catch-up play after the long weekend Eurostoxx +0.1% Germany DAX flat France CAC 40 +0.1% UK FTSE +0.8% Spain IBEX +0.1% The overall risk mood is more tepid in general with US futures also keeping little changed. S&P 500 futures are down 0.1%, Nasdaq futures down 0.1%, Dow futures flat. In
NEW DELHI: Gold and silver futures prices dropped lower up on Tuesday, as a stronger dollar and optimistic comments from US Federal Reserve Chairman Jerome Powell on the economy weighed on the metal’s safe-haven appeal. The dollar index was up 0.1 per cent against its rivals, making gold more expensive for other currency holders. The
The forex markets are staying in consolidative mode this week so far. Aussie is steady in tight range after RBA stood pat as widely expected, even though GDP forecast was upgraded. Dollar is recovering again as the retreat overnight didn’t last long. Canadian Dollar and Yen also trade with a slightly firmer tone. On the
U.S. Treasury debt issuance estimates U.S. Treasury expects to issue $463 billion of net marketable debt in April to June 2021. That is much higher than the February estimate of $95 billion increasing in the borrowing estimate is due to additional spending due to covert 19 in January – March 2020, it issued $401 billion in
Gold prices jumped more than 1% on Monday, with the rally spilling over into other precious metals as well, driven by a retreat in the and US Treasury yields. Spot gold was up 1.4% at $1,792.41 per ounce by 12:13 p.m. EDT (1613 GMT), after hitting its highest since April 22 at $1,797.75. US gold