German Retail Sales fell by 5.1% MoM in July vs. -0.9% expected. Retail Sales came in at -0.3% YoY in July vs. 3.7% expected. According to the latest data reported by Germany’s Destatis on Monday, the country’s Retail Sales dropped by 5.1% MoM in July versus -0.9% expected and 4.2% last. On an annualized basis, the German
S&P up for the seventh consecutive months highlights Dow down for the second consecutive day S&P 500 close higher for the seventh consecutive month No record closes Major indices post gains for the month of August S&P and NASDAQ closes lower for the first time in three sessions Four S&P sectors were higher wall seven were lower
Slips into contraction The commentary on the results from Markit is extensive, reproduced below. Bolding is mine: “The Caixin China General Manufacturing PMI came in at 49.2 in August, down from 50.3 the previous month and falling into contractionary territory for the first time since April 2020. The reappearance of Covid-19 clusters in several regions
National Commodity and Derivatives Exchange Limited (NCDEX) on Tuesday launched the futures contract on the index NCDEX SOYDEX for September and October expiries. Today’s launch is the second successive offering in the sectoral indices in agri-commodities basket, the first being the NCDEX GUAREX, which was launched on August 16 of this month. NCDEX SOYDEX is
Euro jumps notably today, as supported by highest inflation reading in a decade, and hawkish comments from an ECB official, as well as rise in German yields. Though, it’s slightly outshone by Kiwi, Aussie and Swiss Franc for now. On the other hand, Dollar’s selloff continues to pick up momentum and even dips against Yen.
The central bank of Mexico (Banxico) said on Tuesday that it forecasts economic growth of 6.2% in 2021, as reported by Reuters. Additional takeaways “Banxico forecasts 2021 fourth-quarter inflation of 5.7% “Banxico forecasts 2022 fourth-quarter inflation of 3.4%.” “Banxico forecasts 2022 GDP growth of 3.0%.” “Mexican economy expected to create between 640,000 and 840,000 jobs in 2021.” “Banxico
Doubt down for the third time in four trading days The US stocks have open lower. The Dow is down for the third time in four trading days The S&P and NASDAQ open lower after closing at a record levels yesterday The stock market gave up earlier premarket gains The S&P closed at a new record
US August consumer confidence 113.8 vs 124.0 expected Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT US August consumer confidence data from The Conference Board Prior was 129.1 (highest since the start of the pandemic) This is the lowest since Feb Estimates ranged from 110.0 to 131.0 Details:
New Delhi: Gold in the national capital on Tuesday dipped Rs 100 to Rs 46,272 per 10 gram amid rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,372 per 10 gram. Silver also dipped Rs 134 to Rs 62,639 per kilogram from Rs 62,773 per kilogram
The latest data revealed that China’s economy continued to lose momentum. The PMI report from the National Bureau of Statistics (NBS) showed disappointment in both manufacturing and services activities. Stability of the renminbi (a.k.a. Yuan, CNY) is mainly due to government’s control and is not reflective of the headwind the economy is facing. We expect
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In opinion of FX Strategists at UOB Group, further upside could see AUD/USD re-visiting the 0.7360 region in the next weeks. Key Quotes 24-hour view: “Yesterday, we held the view that AUD ‘could test 0.7335 first before a pullback can be expected’. However, AUD eased off from a high of 0.7319 and subsequently traded mostly
Venezuelan authorities are on the lookout for a scammer accused of disappearing with 23.66 Bitcoin (BTC) worth $1.15 million from his clients’ accounts after faking his own kidnapping. On Aug. 29th, Douglas Rico, director of Venezuela’s Scientific, Criminal and Criminal Investigations Corps (CICPC) issued a statement asserting that 23-year-old, Andrés Jesús Dos Santos Hernández, was
53rd record close level for the S&P in 2021 The S&P and NASDAQ closed higher and at record levels again. The Dow industrial average fell modestly. Highlights include: S&P and NASDAQ up for the seventh day in the last eight S&P closes at a record level for the 53rd day NASDAQ in 2021 NASDAQ index
Premier Dan Andrews says Victoria will remain in lockdown, surprising no-one. Andrews has been intent on pursuing Covid-zero from day one of the outbreak and he isn’t changing that goal any time soon. Says restrictions will ease as numbers come down. He will relax a little as vaccination rates rise, look for around 70% and
NEW DELHI: Copper prices on Monday traded up by 0.59 per cent at Rs 723.25 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 September traded higher by Rs 4.25, or 0.59 per cent, to Rs 723.25 per
Trading is relatively subdued in Asian session today with most major pairs and crosses staying inside Friday’s range. Some additional pressure is seen in USD/JPY but loss is so far limited. Markets seemed to have well digested Fed Chair Jerome Powell’s balanced message on tapering already. Attention will turn to this week’s heavy-weight data like
A pending sale sign in front of a home in Miami. Getty Images Signed contracts to purchase previously owned homes fell 1.8% in July from June, according to the National Association of Realtors. Sky-high home prices have caused affordability to drop dramatically in the last several months. The median price of an existing home was