China’s major economic data missed expectations in May. Industrial production (IP) expanded +8.8% y/y in May, worse than consensus of +9.2% and April’s +9.8%. Retail sales growth decelerated to +12.4% y/y, from +17.7% in April. The market had anticipated a +14% growth. Fixed asset investment (FAI) gained +15.4% y/y in the first 5 months of
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LONDON: Oil prices reached their highest in more than two years on Tuesday, buoyed by expectations demand will recover rapidly in the second half of 2021. Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel by 1311 GMT, the highest since late April 2019. US oil gained 88 cents, or 1.2%, to $71.76
Dollar jumps in early US session after strong, record making, PPI inflation data. The worse than expected retail sales and manufacturing data were shrugged off. Yen and Euro are following as next strongest for now. Sterling continues to be weighed down by delay in reopening and it’s trading and worst ones a long with commodity
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 of your initial investment; do
NEW DELHI: Crude oil prices rose Rs 17 to Rs 5,208 per barrel on Tuesday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 17, or 0.33 per cent, at Rs 5,208 per barrel in 8,635 lots. Analysts said
Yen trades broadly overnight on strong risk appetite, with NASDAQ and S&P 500 closing at new record highs. And it remains generally soft in Asian session. Some selling in seen in Australian Dollar after RBA minutes, but loss is very limited. Other commodity currencies are indeed trying to firm up, which helps floor the Aussie.
BNZ have a proprietary fair value model for the New Zealand dollar: Our short-term fair value model estimate for the NZD has pushed up to 0.7420, the highest level since 2014 Analysts at the bank outline 4 points that ought to be NZD positive, in summary: Our risk appetite index rose to 72% on Friday,
NEW YORK: Oil prices rose on Monday, hitting their highest levels in more than two years, supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent rose 34 cents to $73.03 a barrel by 12:56 p.m. EDT (1656 GMT). Earlier in the session, it reached $73.64
We do not expect the Fed talk about tapering at this week’s meeting. Policymakers would likely hint more about it at the Jackson Hole symposium in August while a formal announcement would be made at the September FOMC meeting. Rather, we are more interested in its view on the rapid increase in both headline and
Forex news from the European trading session – 14 June 2021 Headlines: Markets: NZD leads, JPY lags on the day European equities a little higher; S&P 500 futures flat US 10-year yields up 0.5 bps to 1.457% Gold down 1.2% to $1,854.20 WTI up 0.6% to $71.31 Bitcoin up 0.4% to $39,154 It was a
NEW DELHI: Gold in the national capital on Monday plunged Rs 464 to Rs 47,705 per 10 grams reflecting decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,169 per 10 gram. Silver also declined Rs 723 to Rs 70,420 per kg, from
Trading is generally subdued in Asian session today, with little reactions to the G7 summit. Also, China and Hong Kong are on a one-day holiday. Commodity currencies are mildly firmer while Swiss Franc and Yen are softer. But all major pairs and crosses are stuck inside Friday’s range. Instead, more volatility is seen in oil,
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 of your initial investment; do
NEW DELHI: Soybean prices on Friday fell by Rs 29 to Rs 7,163 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for June delivery fell Rs 29, or 0.4 per cent, to Rs 7,163 per quintal with an open
Bakers Hughes rig count. Oil rigs 365 versus 359 last week Gas rigs 96 versus 97 last week Total rigs 461 versus 456 last week Crude oil is trading at $71.16 Although higher, the reluctance to take rigs up to levels seen before the pandemic have been slow despite the rise back higher in crude oil prices. The industry
NEW DELHI: Copper prices on Friday traded up by 1.31 per cent at Rs 747.75 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 June traded higher by Rs 9.65, or 1.31 per cent, at Rs 747.75 per