NAB business survey is conducted monthly December business confidence -1, pick ups in mining and retail -8 in November Business conditions index 7, says NAB: “Conditions eased in December and are now firmly around their long-run average level”. Points from the survey: measures of labour and production costs fell back after they rose in the
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Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down
Yen trades mildly firmer in tight range today, as markets are now keenly awaiting BoJ rate decision in the upcoming Asian session. No change in monetary policy is expected as BoJ should stick to negative interest rate for now. There is also no need to tweak the parameters of Yield Curve Control, with the yield
The NBS says that any officials caught committing data fraud “will be found, investigated and dealt with, and will not be tolerated”. Adding that “statistical fraud is the biggest corruption in the field of statistics, which seriously violates the law and affects the quality of the data, obstructing and even misleading macro decision-making”. For me,
Gold prices steadied on Monday as traders braced for fresh data on U.S. economic growth and the Federal Reserve‘s preferred inflation gauge due later this week, ahead of the central bank’s interest rate verdict next week. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,030.87 per ounce by 0116 GMT. * U.S. gold futures rose
Asian markets highlights sharp divergence in trends today. Nikkei surged to new 34-year high, buoyed by last week’s record closes in US and bolstered by expectations that BoJ will maintain its negative interest rate policy in the this week’s meeting. Japanese stock market is also riding on the optimism that BoJ is not in a
Shipping data analyst firm Sea-Intelligence says that disruptions to shipping from the Houthi attacks in the Red Sea are already more damaging to the supply chain than the early COVID-19 pandemic. The firm cite their analysis of vessel delays supply chain data known in the industry as “vessel capacity” shows the second largest drop in
Supported by geopolitical concerns, spot gold closed with a gain of 0.36% at $2029.64 on Friday. The US data released on Friday were mixed for the metal as Michigan consumer sentiment topped the forecast on falling inflation and a strong job market, while inflation expectations fell. As the US carried out its fifth airstrike against
UPCOMING EVENTS: Monday: PBoC LPR, New Zealand Services PMI. Tuesday: BoJ Policy Decision, New Zealand CPI. Wednesday: Australia/Japan/Eurozone/UK/US Flash PMIs, BoC Policy Decision. Thursday: ECB Policy Decision, US Durable Goods Orders, US Jobless Claims, US Q4 Advance GDP. Friday: Tokyo CPI, US PCE. Monday The PBoC is expected to keep the LPR rates unchanged at
Ahead of the Union Budget 2024, which is now less than a fortnight away, the domestic commodity industry has urged the government to allow the resumption of trade in banned agricultural commodities including wheat, paddy (non-basmati), chana, and others. The sentiments were echoed by the industry representatives on January 22 on the occasion of 20
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices rose on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank‘s interest rate trajectory. Spot gold rose 0.5% to $2,015.79 per ounce by 1255 GMT, but was lingering near its five-week low
Last week’s market development suggest growing skepticism among traders on their own aggressive bets on early rate cut by major central banks. After a batch of economic data from US and UK, as well as the chorus of central banker comments, Q2 is starting to look much less likely for the start of a global
US stocks close sharply higher with the S&P index closing at a new record level and above the 4800 level. The NASDAQ index led the way. For the week, the major indices all closed higher for the 2nd consecutive week after sharp declines in week 1 of the 2024 trading year. The final numbers are
NEW YORK -Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41. For the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
NEW YORK -Oil prices were little changed on Friday but headed for a weekly gain, as Middle East tensions and disruptions to oil output offset concerns about the global economy. Brent futures were up a cent to $79.11 a barrel at 11:41 a.m. (1641 GMT). U.S. West Texas Intermediate crude fell 9 cents to $73.99.
Sterling fell broadly today following weaker-than-expected retail sales data. Despite this, the British currency’s losses have been somewhat contained, indicating a degree of resilience. Concurrently, Japanese Yen and Australian Dollar are showing attempts to recover, but these efforts lack significant follow-through momentum. The day’s activities seem more reflective of temporary consolidations rather than indicative of