Dollar’s selloff caught much attention last week, but slowed towards the end. Traders are holding their bets for now, awaiting the coming batch of July data. Indeed, Australian Dollar was the worst performer, mainly on RBA QE expectations, and partly on risk aversion in China and Hong Kong. New Zealand Dollar was the second worst,
Month: July 2021
The purchasing managers’ index (PMI) for China’s manufacturing sector dropped to 50.4 in July from 50.9 in June, the latest data published by the National Bureau of Statistics (NBS) showed Saturday. The actual data missed the consensus estimate of 50.8. Meanwhile, the Non-Manufacturing PMI eased slightly to 53.3 in July from 53.5 in June. A reading above
Gold spins its wheels again The $1834 resistance level and some moderate US dollar buying today spelled trouble for gold today, even with yields dipping another 3 bps today. Technically, that’s a simple setup but it’s not necessarily bearish so long as last week’s low of $1790 holds. On the fundamental side, Powell’s comments this
ISM data and jobs reports highlight the events next week Monday will be the August 2nd and the start of a new month. That means the traditional ISM data, ADP employment, the US and Canada jobs reports. Highlights on the economic calendar. Monday (bank holiday in Canada) Japan consumer confidence 36.0 versus 37.4 last month
Hedge funds plowed money into bets that the commodities rally of 2021 still has further to run, snapping three straight weeks of reductions. Net-long positions on a basket of 20 commodities rose by 8.3% in the week ended Tuesday, according to U.S. Commodity Futures Trade Commission data compiled by Bloomberg. Investors added wagers on further
The Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day meeting by keeping interest rates in a target range near zero. Along with that, the committee reiterated its view that
In this article KMB PG View of Dawn dish soap liquid at Stop & Shop Supermarket. Ron Adar | LightRocket | Getty Images Procter & Gamble is set to report its fiscal fourth-quarter earnings results before the market opens on Friday. Here’s what Wall Street is anticipating, based on a survey of analysts by Refinitiv:
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The Fed sounded cautiously optimistic at the July meeting. The members acknowledged continued improvements in economic activities and that “the economy has made progress toward” the “maximum employment and price stability goals”. While leaving all monetary policy measures unchanged, Chair Jerome Powell affirmed the the ongoing discussions over tapering. We expect to hear more comments
GBP/USD drops further to 1.3890, but secures weekly gains Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week’s key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since
Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. Traders and investors view the EIP-1559
Stocks close near session lows Highlights for the day: Dow S&P close lower for the third day in four sessions Major averages post weekly losses S&P has six straight monthly gain NASDAQ snaps two day win streak Dow S&P, NASDAQ post gains for July Hurting the indices and market today was Amazon which fell -7.5%
Forex news for North American traders on July 30, 2021. The North American session started with concerns about the stock market and lingering fears above Covid. The earnings from Amazon after the close showed revenues less than expectations and revenue guidance going forward also lower. That came after Facebook the day before also scared the market with a less than rosy outlook.
Gold prices held near a two-week high on Friday, and were set for their biggest weekly gain in more than two months, on renewed signs that the U.S. Federal Reserve may not taper economic support and hike interest rates in the near term. Spot gold was steady at $1,827.70 per ounce, as of 0053 GMT,
An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday. The personal consumption expenditures price index, which excludes food and energy, was expected to increase 3.6% at a time when the U.S. economy
In this article XOM CVX Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Chevron reported a second straight quarter of profits Friday as improving demand for petroleum products and a jump in oil prices boosted operations. The
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