Prior 59.8 Composite PMI 55.4 Prior 58.3 Omicron worries are to blame as activity and new business expanded at lower rates. Meanwhile, business confidence slumped to an 11-month low while price pressures continued to persist. Put together, that is a noticeable hit on sentiment and the services sector last month. Markit notes that: “The Spanish
The forex markets turn quiet in Asian session today. While DOW surged to new record high overnight, S&P 500 and NASDAQ closed slower. Asian markets are also mixed. Investors are holding their bets for now, awaiting FOMC minutes and, more importantly, US non-farm payrolls later in the week. For now, Yen remains overwhelmingly the worst
The US major stock indices are closing mixed: The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022. The S&P index closed down -3.04 points or -0.06%
Gold was flat in early Asian trade on Wednesday, as traders weighed prospects of early interest rate increases by the U.S. Federal Reserve against surging COVID-19 infections globally. FUNDAMENTALS * Spot gold was little changed at $1,813.91 per ounce by 0133 GMT. U.S. gold futures were flat at $1,813.80. * Benchmark 10-year Treasury yields rose
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XAU/USD holds the recent advance amid easing Treasury yields. The price is in a consolidation area, with $1,808 on the downside in focus. Traders are awaiting key US data this week, while the stock market cheers a positive start. Update: Gold price has entered a phase of upside consolidation above $1,1810 in Wednesday’s Asian trading,
The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right
Global financial markets are in full risk-on mode today. Major European indexes are trading higher while US futures indicates that record run is continuing. In the currency markets, Yen’s steep selloff continues and looks unstoppable. Dollar is performing well as supported by rally in treasury yields. Euro, on the other hand, is rather weak, in
The late rally in the Canadian dollar vaulted it just ahead of the US dollar as the top performing G10 currency last year. The yen was at the bottom of the pack. The main thrust of the rally in the pair was the recovery from covid and the associated rally in commodities, along with the
US 10 year yield The US 10 year yield is up again today. It is currently at 1.675%, up 4.5 basis points. The high yield reach 1.681%. The low yield today was at 1.614%. Looking at the daily chart, connecting the high yield going back to March 30, 2021 to the higher yields in October
LONDON: Oil prices rose 2 per cent on Tuesday as OPEC+ producers agreed to stick with their planned increase for February based on indications that Omicron would have only a mild impact on demand. Brent crude was up $1.50, or almost 2 per cent, at $80.48 a barrel by 1450 GMT and U.S. West Texas
Commuters arrive from Metro North Railroad trains in Grand Central Station in New York. Timothy A. Clary | AFP | Getty Images Workers quit their jobs in record numbers in November while the total employment openings pulled back a bit, the Labor Department reported Tuesday. The so-called quits level surged to 4.53 million for the
EUR/USD is trading back under 1.13. In the view of economists at Scotiabank, Italian politics is set to weigh on the common currency. The 1.1275/85 zone to stand as intermediate support “The Italian lower house announced today that voting on a new Italian president will start on January 24th, with Draghi possibly pulled away from
Yen selloff is the main theme in the Asian markets today, in particular as USD/JPY breaks out on the upside with acceleration. The move was fueled by strong rally in US treasury yields overnight, as well as rally in Nikkei and benchmark JGB yield. Dollar is currently the strongest one for the, reversing much of
Prior -0.3% Retail sales -2.9% vs -4.9% y/y expected Prior -2.9% That’s a positive surprise and the details also reveal that in annual terms, retail turnover for 2021 as a whole (provisional estimate) is roughly 0.9% better than in 2020 in real terms – indicating a record high. That said, some areas of shop-based retail
Amid thinner market conditions last week, the pair managed to hold a weekly close above 115.00 and is running with that so far to start the new year. The latest jump is largely helped by the surge higher in Treasury yields yesterday, which saw 10-year yields climbing by over 10 bps to 1.63%. A stronger
NEW DELHI: Gold prices traded higher on Tuesday amid curbs to contain the spread of Omicron coronavirus cases, while a rise in US yields supported by inflation fears kept bullion’s gains in check. The Omicron variant of the coronavirus appears to be far more contagious than previous iterations, but data suggests it may be less
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