The preliminary and priors for January – March GDP are here: Updated now with the second reading: Not as big a contraction as the preliminary reading suggested. For the y/y its -0.5% (prelim suggested -1%). private consumption was +0.1% q/q (prelim. was 0%) business spending (capex) -0.7% (prelim was +0.5%) The deflator was -0.5% y/y.
News
Gold in the national capital on Tuesday declined by Rs 205 to Rs 50,733 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 50,938 per 10 grams. Silver also dipped Rs 964 to Rs 61,555 per kg from Rs 62,519 per kg in the previous trade. “Spot
Selloff in Yen and Swiss Franc is still the main theme today even though US and Germany benchmark yields are retreating slightly. Australia was only lifted very briefly by the larger than expected rate hike by RBA. Though, Aussie is maintaining gains against Kiwi, which is the worst performing one for the day. On the
Headlines: Markets: USD leads, NZD lags on the day European equities lower; S&P 500 futures down 0.8% US 10-year yields down 1.3 bps to 3.025% Gold up 0.4% to $1,848.13 WTI crude down 0.4% to $118.04 Bitcoin down 6.2% to $29,494 The day started off with the RBA pulling off yet another unorthodox rate hike,
Oil prices inched higher on Tuesday on expected demand recovery in China as it relaxed tough COVID curbs and doubts a higher output target by OPEC+ producers would ease tight supply. Brent crude futures were up 19 cents, or 0.2%, at $119.70 barrel at 0050 GMT. U.S. West Texas Intermediate (WTI) crude futures were up
Australian Dollar rises broadly after RBA surprised the markets by a larger than expected 50bps rate hike. It’s now overpowering the strong Canadian and US Dollars. On the other hand, Yen’s weakness persists on rising benchmark treasury yields in the US and Europe. Sterling is turning soft after Prime Minister Boris Johnson won the confidence
British Retail Consortium (BRC) data: like-for-like sales in May -1.5% y/y prior -1.7% Total retail spending -1.1% y/y biggest fall since January last year -0.3% prior (i.e. April) “It is clear the post-pandemic spending bubble has burst, with retailers facing tougher trading conditions, falling consumer confidence, and soaring inflation impacting consumers spending power,” BRC chief
LONDON -Oil prices topped $120 a barrel in choppy trade on Monday buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply. Brent crude was up 64 cents, or 0.5%, to $120.36 a barrel at 1339 GMT after touching an
Overall market sentiment is positive in the market today, even though trading is subdued with some European countries on holiday. Sterling is trading higher with commodity currencies. On the other hand, Swiss Franc is is the weakest one, followed by Yen and Dollar. Euro is mixed for now. In other markets, Gold is struggling in
Primer: UK PM Johnson no-confidence vote at 18:00-20:00BST/13:00-15:00EDT today – Link Courtesy of my friends at Newsquawk Overview UK PM Johnson is expected to survive the no-confidence vote, according to current betting odds, which gives him a 12-month pass from being subject to such proceedings again. However, surviving the vote is not always enough; previous
London copper prices on Monday scaled to their highest in more than one month, as relaxation of COVID-19 lockdowns in top metals consumer China and hopes that the United States would cut tariffs on Beijing lifted sentiment. Three-month copper on the London Metal Exchange was up 2.1% at $9,695 a tonne, as of 0352 GMT,
Major Asia indexes trade mildly higher today but the forex markets are quiet. Trading will likely be subdued ahead with Swiss, France and Germany on bank holiday, while the US economic calendar is empty. But an eventful week will kick start with RBA rate decision tomorrow, followed by ECB on Thursday. Then the week would
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
Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while
The price of WTI crude oil futures are settling at $118.87. That’s up $2 or 1.71%. The high price today reached $119.42. The low price extended to $115.23. One week ago today, the price closed at $115.07. That puts the gain for the week at $3.80 or 3.3%. The high for the week reached $119.98
Gold prices inched up marginally to a month’s high on Friday, thanks to a muted US dollar that has added to the sheen of the yellow metal. Bullion was on track for the third straight weekly gain. Gold prices advanced amid a retreat in the dollar index and disappointing macroeconomic data from the US, said
MON: Chinese Services PMI Final (May). TUE: RBA Announcement; EZ Sentix (Jun); EIA STEO. WED: RBI Announcement; NBP Announcement; Japanese GDP Final (Q1); EZ Employment Final (Q1) and GDP (Q1 Revisions). THU: ECB Announcement; Chinese Trade Balance (May). FRI: CBR Announcement; Chinese Inflation (May); Norwegian CPI (May); US CPI (May); Canadian Labor Market Report (May);
Steel prices in the domestic market have fallen by almost a tenth in the two weeks since the Centre levied export duty on the alloy, a trend underscored by the seasonal slowdown in demand. Prices of domestic benchmark hot-rolled coil (HRC) steel at the traders’ end have slipped by about 8% or ₹5,500 to about