BusinessNZ Performance of Services Index (PSI), back in expansion for the first time since February this year at 54.1 prior 37.2 Services PMIs pretty much everywhere have been slower to improve than manufacturing PMIs, which makes this NZ result impressive indeed. BusinessNZ chief executive Kirk Hope comments from respondents underlie the two broad effects COVID-19
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LONDON: Fuel traders and refiners are becoming more pessimistic about the outlook for the global economy and transportation for the rest of this year, even as the crude producers in OPEC+ try to push oil prices higher. OPEC+ is anxious to see higher crude prices as soon as possible but its ambition is likely to
According to the CFTC Commitments of Traders report for the week ended July 14, NET LENGTH for crude oil futures gained +4 434 contracts to 539 751 for the week. Speculative long positions rise +5 715 contracts while shorts added +1 281 contracts. For refined oil products, NET LENGTH for gasoline increased +4 202 contracts
The latest data from Florida Yesterday’s report Cases for the day 10,292 vs. 11,446 yesterday Cases up 3.2% vs. 7 day average of 4.3% Total cases 337,569 vs. 327,241 yesterday Resident hospitalizations 20,632 vs. 20,191 yesterday Hospitalizations +441 vs +366 prior Median age of cases 41 vs. 41 yesterday Total deaths 90 vs. 128 yesterday positivity 12.17%
SINGAPORE: London copper fell on Friday, hit by worsening U.S.-China relations and rising coronavirus infections that could dampen global economic recovery and demand for metals. The Trump administration is considering a ban on travel to the United States for all members of the Chinese Communist Party and their families, a person familiar with the matter
Euro ended last week as the strongest one, as pushed up by hope of an agreement over EU’s post-pandemic recovery fund. The strength was particularly apparent against Swiss Franc and Sterling. Yet, up till the time of writing, there seems to be no consensus reached at the EU summit yet. Dutch Prime Minister Mark Rutte
What moved in the market last week It’s unusual to see this pair on the opposite end of the spectrum. The divergence in AUD and NZD is also odd given the virus outbreak in Victoria. Make sure to save your spot for the July 28 live event. [embedded content] For bank trade ideas, check out
New Delhi: Gold prices in the national capital fell by Rs 271 to Rs 49,729 per 10 grams on Friday amid a strengthening rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 50,000 per 10 grams. Silver also declined by Rs 512 to Rs 53,382 per kg from
As suggested in the CFTC Commitments of Traders report in the week ended July 14, NET SHORT for USD Index futures added +100 to 5 039 contracts. Speculative long positions slipped -13 contracts and short positions gained +87 contracts. Concerning European currencies, NET LENGTH in EUR futures soared +7 315 contracts to 110 912. NET
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BENGALURU/MUMBAI: Physical bullion remained out of favour this week among consumers in top hubs China and India in the grip of the coronavirus, while investors in Singapore and Japan bought gold and silver to safely park their wealth. Discounts in top buyer China deepened to $30-$25 an ounce versus global benchmark prices, from $20-$25 last
ECB at the July meeting maintained all the monetary policy measures unchanged. President Christine Lagarde acknowledged the encouraging economic recovery in May and June. She also suggested that the rebound will continue into 3Q20, as supported by monetary and fiscal stimulus. Yet, Lagarde also warned of the high uncertainty ahead. On the monetary policy, ECB
Forex news for NY trading on July 17, 2020 In other markets: Spot gold is closing the week above the $1800 in what was an up and down week for the precious metal. The high for the week was on Wednesday at $1814.90. The low for the week was on Tueday at $1790.79. The price
NEW YORK: Oil prices were broadly stable on Friday in early U.S. trading, as expectations of more economic stimulus programmes balanced concerns about the recovery in fuel demand as coronavirus cases surge and major crude-producing nations ready increases in output. Brent crude futures fell 15 cents to $43.22 a barrel by 12:10 EDT (1610 GMT).
Euro and Swiss Franc rise broadly today but upside is so far limited. Traders are still cautiously awaiting EU leaders’s decision on the EUR 750B recovery fund. On the other hand, Sterling suffers notable selling for today, thanks to selling in cross against Euro. Canadian Dollar is following as the second weakest and then Dollar.
Boris Johnson says that the government is aiming to review the remaining restrictions in November From October, we intend to bring audiences back into stadiums We will look to allow more close contact between friends and family where possible Hopes that by November it may be possible to drop social distancing rules The part on
LONDON: Oil prices slipped on Friday amid growing uncertainty about the global recovery in fuel demand as coronavirus cases surged in several countries, while major producers were set to ease output curbs. Brent crude futures fell 26 cents to $43.11 a barrel by 0822 GMT. US West Texas Intermediate (WTI) crude dropped 23 cents to
The forex markets are generally stuck inside yesterday’s range in subdued trading today. Chinese stocks attempted a recovery at the start of the session, but quickly turned into red again, continuing with Thursday’s mini-crash. Other Asian markets are mixed though, with not much reactions to weaker US close overnight. As for the week, Euro is