New Delhi: (IEX) has recorded an all-time high monthly trade of 9,538 million units (MU) in August which is 74 per cent higher compared to the same month last year. “The electricity market at the Indian Energy Exchange achieved a new milestone with a record all time high monthly volume of 9,538 MU achieving 74
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Dollar weakens mildly in early US session after big ADP job data miss. But Swiss Franc and Yen remain the weaker ones. Euro and Sterling firm up mildly. But they are outshone by Aussie and Loonie for the moment. Overall movements in the currency markets are limited, except in some Yen crosses. Traders are still
US August ISM manufacturing data Prior was 59.5 Prices paid 79.3 vs 83.8 expected (prior was 85.7) Employment 49.0 vs 52.9 prior New orders 6637 vs 64.9 prior Full report That miss on employment might get some attention after today’s ADP report and ahead of non-farm payrolls. Manufacturing isn’t a big US employer but it’s
LONDON: The OPEC+ group of oil producers has made an upward revision to its 2022 oil demand forecast ahead of a meeting on Wednesday as the group faces pressure from the United States to raise output more quickly to help to support the global economy. Two OPEC+ sources said the group’s experts have revised its
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.
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
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
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
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
This is another of the inputs into the GDP data due tomorrow. While export prices rose volumes fell. The minus 1% is a hefty chunk out of the GDP result, eyes will be focused on if tomorrow’s final GDP is positive q/q. Other data out that’ll contribute to the GDP result is slightly more encouraging
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
Selling of Swiss Franc is somewhat the biggest theme in a very quiet day so far, with UK on holiday. On the other hand, some buying is picking up in Canadian Dollar. But overall, markets are mixed without a clear direction yet. Main focus will firstly be on whether US stocks could extend last week’s
Trudeau’s decision to call an election looks like a disaster Canadian Prime Minister Justin Trudeau called an election two-years early hoping to ride Canada’s early vaccination success along with a solid overall handing of the pandemic and NAFTA to a majority government. That decision looks to have backfired in a big way. Polls showed he
New Delhi: Gold in the national capital on Monday dipped Rs 199 to Rs 46,389 per 10 gram amid a correction in global precious metal prices along with rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,588 per 10 grams. Silver also dipped Rs 250 to
The closely-awaited Jackson Hole speech by Fed chair Powell reaffirmed that QE tapering would begin later this year. While being more upbeat about the progress of employment and inflation, Powell warned of the downside risks posed by the rapid spread of the delta variant. He also attempted to de-link taper and rate hike, causing instant
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