While US stocks hit another record high overnight, the path reversed with the three major indexes closing lower, with particular heavy selling in NASDAQ. Bearish sentiment continues in Asia session today, with Nikkei and Hong Kong HSI in deep red. Reactions in currency markets are mild, however, with commodity currencies just in shallow retreat. Yen
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Coming up at 0130 GMT, China inflation figures for April Quite the divergence in expectations. The PPI is ramping higher on the back of the surging prices of commodities copper, tin, iron ore, plastics prices to producers in China (and elsewhere of course) have risen to the highest in a decade supply constraints are a
LONDON: Hedge funds boosted their position in petroleum for the fourth week running, as bullishness about oil consumption and prices rebounded after the setback in March. Hedge funds and other money managers purchased the equivalent of 40 million barrels in the six most important petroleum futures and options contracts in the week to May 4.
Sterling rises strongly today, and overpowers Australia and New Zealand Dollar. On the other hand, Yen’s selloff continues while Dollar is following closely behind. Despite strong investor confidence data, Euro is indeed under heavy selling pressure against the Pound and Aussie. Comments from ECB chief economist Philip Lane suggests that the central bank is still
Latest data released by Sentix – 10 May 2021 That’s a solid beat and the jump in investor confidence highlights the optimism surrounding the euro area and global economic recovery going into 2H 2021. The reading is the highest since March 2018 with Sentix highlighting that there are clear signs that the global economy is
TOKYO: Crude prices rose on Monday after a major cyberattack forced the shutdown of critical fuel supply pipelines in the United States and highlighted the fragility of its oil infrastructure. Brent crude was up by 57 cents, or 0.8 per cent, at $68.85 a barrel by 0645 GMT, having risen by l.5 per cent last
The recent rally in copper price has been driven by potential supply deficit in coming years. Stimulus measures rolled by major economies, such as the US, the UK and China, have put strong focus on green energy. Developments of which are expected to significantly raise demand for copper. Meanwhile, issues in major copper producers, especially
The data agenda ahead has a few items of note from Australia. 0110 GMT Bank of Japan Japanese Government Bond purchase operation part of the Bank’s QQE program today the buying is of 1-3 and 3-5 year JGBs (time left until maturity) 0130 GMT Australia NAB business confidence and business conditions for April 0130 GMT
NEW DELHI: Aluminium prices rose 0.6 per cent to Rs 201 per kg in the futures trade on Friday as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the May delivery gained Rs 1.20, or 0.6 per cent, to Rs 201 per
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
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