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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
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
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