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
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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 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
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,
Dollar recovers mildly in early US session, following slight weakness in risk sentiments. Additionally, stronger than expected personal income and spending are providing some support too. Still, the greenback remains the worst performing one for the week. There is prospect of Yen, Aussie or Kiwi overtaking Dollar as biggest loser, but we’ll see. Meanwhile, Sterling
Oil higher for the third straight day WTI crude oil is 29-cents higher at $73.90 in the third day of gains today. It’s at a two week high and has nicely rebounded from the rout at the start of last week. But I want to zoom out and highlight the weekly chart. The 50-week moving
NEW DELHI: Gold prices bucked the global trend in India and opened lower on MCX on Friday. Gold futures on MCX were down merely 0.08 per cent, or Rs 39, at Rs 48,357 per 10 gram. Silver futures traded lower by 0.21 per cent, or Rs 145, higher at 68,055 per kg. The precious metal
Dollar suffered another round of selloff overnight and stays soft. Mild risk aversion in Asia is not helping the greenback much. But commodity currencies are following closely, in particular Aussie and Kiwi, as the next worst performers for the week. European majors look set to be the winners of the week, as led by Sterling.
A US media report on the new mask mandate from the US Centers for Disease Control and Prevention In brief, “What has changed is the virus,” said Dr. Anthony Fauci, the nation’s top infectious disease expert and Biden’s chief medical adviser. When a vaccinated person gets infected with delta — called a “breakthrough infection” — “the
New Delhi: Gold in the national capital on Thursday rallied by Rs 382 to Rs 46,992 per 10 gram amid a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,610 per 10 gram. Likewise, silver also jumped Rs 1,280 to Rs 66,274
Dollar’s decline continues and accelerates a little in early US session after weak economic data. Gold is also accelerating upwards, in tandem with the greenback’s movements. Yen is following as second worst for now, following recovery in European stocks and US futures. Commodity currencies and Sterling are currently the stronger ones for today. Technically, immediate
US stocks add to gains The S&P 500 rose 20 points to a new all time high of 4423. What’s interesting is that commodity currencies are under some pressure at the same time. AUD/USD is at 0.7379, which is 30 pips form the highs and almost back to flat on the day. Some of these
KOLKATA: Gold demand in India increased 30% in the first half of 2021 to 216.1 tonnes, from 165.8 tonnes a year ago, signalling that the deadly second wave of Covid-19 was less of a deterrent than the first wave of the pandemic which had led to a nationwide lockdown “The second quarter of 2021 was
Dollar drops broadly overnight and stays weak, even though Fed acknowledged that progress has already been made in the economy. Uncertainty in the risk markets is keeping Aussie soft too. But Canadian Dollar is apparently rebounding with resilience in oil prices. Sterling is also strong with Swiss Franc while Euro under performs them. Focus will
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Mumbai: As the country moves towards creating a spot gold exchange, markets regulator Sebi‘s Whole Time Member G Mahalingam on Wednesday suggested routing all the imports of the precious metal through the exchange ecosystem in the future. Such a “funnelling” would ensure that gold monetisation takes place right at the source as the metal enters
Dollar is trying to recover in early US session but upside is limited so far. Overall market sentiments stabilized as US stocks might have regained footing for another take on new records. Also, traders are turning a little bit more cautious ahead of FOMC statement and press conference. Overall picture for the week is unchanged