The UK manufacturing sector continues to contract in November, with output, new orders and employment all falling further on the month. Meanwhile, business sentiment also dips to its lowest level since April 2020 as the outlook deteriorates markedly. The only consolation is that inflation pressures are easing a little, with input prices falling to a
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New Delhi, Gold price rose Rs 352 to Rs 53,677 per 10 grams in the national capital on Thursday amid strong global trends, according to Securities. In the previous trade, the precious metal had closed at Rs 53,325 per 10 grams. Silver also rallied Rs 1,447 to Rs 65,003 per kilogram. “Spot Gold prices in
Market are back in full risk-on mode after Fed Chair Jerome Powell affirmed that smaller rate hike would be delivered in December. Positive sentiment continued in Asia with China softening some of its pandemic restrictions. Dollar is in broad based selloff, followed by Canadian Dollar and Swiss Franc. Yen is currently the strongest one, responding
The market was focused on the Fed Powell today. Would he soften up his post FOMC comments and provide the market a reason to start a lower dollar —> higher stocks–> lower yields–>even lower dollar–>even higher stocks –> and even lower yields cycle? That is the cycle for the “risk on” traders and the answer
Oil prices rose by over $2 on Wednesday on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery. But the likelihood that OPEC+ will leave output unchanged at its upcoming meeting limited the gains. Brent crude futures rose $2.22, or 2.67% to $85.25 per barrel by 1340 GMT. The more
Overall markets remain steady in consolidative trading today. There is little reaction to lower than expected Eurozone CPI and US ADP job data. Fed Chair Jerome Powell’s speech might trigger some volatility, or traders will have to wait for non-farm payrolls on Friday. For now, Dollar is the strongest for the week, followed by Yen
Risk tones are faring better while Treasury yields are a little lower and that is pinning the dollar down as we get stuck into European morning trade today. It’s going to be tough to look into the moves right now as we have seen them reverse in US trading for two days in a row
Gold prices ticked up on Wednesday before trading flat, aided by a dip in the US dollar. Investors will now focus on Federal Reserve Chair Jerome Powell’s speech for insights into the US central bank’s monetary policy path. Powell’s speech at a Brookings Institution event, scheduled for 18.30 GMT, will be evaluated for any new
Overall, the forex markets are very cautious for now, awaiting the key events of the week, including Eurozone CPI flash today and US non-farm payrolls on Friday. There is no breakthrough in the unrest in China, with reports of escalation in protests in manufacturing center of Guangzhou. Yen and Dollar are now the stronger ones
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. JP Morgan discusses its oil outlook for 2023. “Entering 2022, our view was that the global
Oil prices jumped by 3% on Tuesday on hopes for a relaxation of China‘s strict COVID-19 controls after rare protests in Chinese cities over the weekend. Brent crude futures gained $1.95, or 2.3%, to $85.14 a barrel at 1445 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.51, or 2%, to $78.75. Chinese health
Canadian Dollar falls broadly after weaker than expected GDP data. Dollar and Swiss Franc are also weak on steady market sentiment. Australia and New Zealand Dollar are currently the strongest ones, followed by Sterling. But all three are just staying in range against the greenback. Euro is also relatively directionless with mixed trading with Yen
A couple of interesting notes from Ifo’s latest survey on price expectations among retailers: Toy retailers’ price expectations rose significantly from 75.4 last month to 94.4 in November Food retailers, stationery stores, drugstores, clothing manufacturers’ price expectations all came in above 90 points as well However, when weighed as a whole, retail is planning for
New Delhi: Gold prices ticked up on Tuesday, helped by a softer dollar, while market participants awaited more clarity on the U.S. Federal Reserve’s rate hike stance. Gold futures on were trading higher by 0.20% or Rs 105 at Rs 52,908 per 10 grams. Similarly, silver futures jumped 0.72% or Rs 447 at Rs 62,831
Risk sentiment improved slightly earlier in Asian session on rumors that China is going to exit its zero-Covid policy earlier. Yet the announcement of the National Health Commission on speeding up vaccination for the elderly was a big let-down. After all, Dollar, and Swiss Franc are on the softer side today so far, with Euro.
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Abu Dhabi National Oil Company (ADNOC) will cut 5% of the December crude oil supply to some term-lifters in Asia but will provide full contractual volumes in January, five sources with knowledge of the matter said on Monday. The oil producer cited the operational tolerance clause which can adjust loading volumes by typically plus or
Risk aversion is the theme of the day as protests in China spread to multiple cities. There might be talks that pressure is mounting on the government to exit zero-Covid policy early. Investors are clearly more pessimistic on guard of escalations, which could further disrupt the economy. Australian Dollar continues to lead commodity currencies as