Oil is lower as futures market reopens for the week’s trade China is restricting travel as part of restrictions imposed to combat the latest virus outbreak in various parts of the country. Beijing has notably tightened inbound and outbound travel. This week the EU is set to meet to review the countries it allows travellers
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Dollar soared towards the end of the week as the stellar job report should give Fed much confidence to start tapering later in the year. Reactions from stock markets and yields were also positive, with DOW and S&P closing at new records while 10-year yield rebounded. Together with the steep fall in gold, overall development
The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases. Report on Saturday (i.e. for Friday’s cases) by state. NSW (Australia’s largest population state) recorded 319 new cases up from 291 the previous day 138 were in isolation throughout their infectious period and 32 were in isolation for part of
NEW DELHI: Copper futures on Thursday slipped 0.38 per cent to Rs 726.60 per kg, as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the August delivery eased by Rs 2.75, or 0.38 per cent, to Rs 726.60 per kg in a business turnover
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NEW DELHI: Guar gum prices on Friday gained Rs 190 to Rs 7,625 per five quintal in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for August delivery traded higher 2.56 per cent, or Rs 190 to Rs 7,625 per five quintal with
In USD terms China’s Trade balance for July was $56.58 bln vs. expected $51.54bn, prior was $51.5bn Exports +19.3% y/y for a small miss on the median consensus estimate expected +20.8% y/y, prior +32.2% Imports +28.1% y/y, also a miss expected +33.0% y/y, prior was +36.7% China’s trade surplus with the United States ( Reuters calculation) $35.4
NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came under pressure as the dollar strengthened after monthly US job growth
Despite recovery, crude oil prices are prone to record the first decline in 3 weeks. The sharp selloff earlier in the week is a result of a confluence of factors including resurgence of the pandemic in the US and China, China’s economic slowdown and OPEC+’s plan to increase output. The rapid spread of the delta
Forex news for North American trading on August 6, 2021 The awaited jobs report was released today at 8:30 AM ET, and it did not disappoint. The net change in nonfarm payroll jobs was 943K. That was above the 870K estimate. Moreover, the June report was revised higher by 88K to 938K, and the May report was also revised
NEW DELHI: Refined soya oil prices on Friday fell Rs 7.4 to Rs 1,399 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market. On the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 7.4 or 0.53 per cent, to Rs 1,399
Dollar jumps sharply in early US session after stronger than expected non-farm payroll data. If job growth could sustain at current page in August, more FOMC members would be ready to call for tapering in Q4. Euro, Swiss Franc and Yen are the most responsive to Dollar buying so far. Sterling is staying resilient. Meanwhile,
What to anticipate ahead of the US non-farm payrolls release? 10-year Treasury yields are up 3 bps to 1.248% on the day as bond sellers are wrestling back some short-term momentum after seeing yields test the July low earlier in the week. There is a semblance of a double-bottom, in the short-term, from a technical
NEW DELHI: Gold prices slipped lower on Friday in domestic markets, following the global footsteps. The US dollar held firm as more Federal Reserve officials signalled the possibility of a sooner-than-expected policy tightening. Gold futures on were down 0.22 per cent or Rs 105 at Rs 47,498 per 10 grams. Silver futures traded 0.39 per
Dollar is trying to extend this week’s recovery in Asian session, as focus turns to non-farm payrolls reports. Whether Fed would start tapering asset purchases by the end of the year, or earlier, would very much depend on the job data in Q3. Elsewhere, Aussie is trading a touch softer after dovish comments from RBA
Forex news for North American trading on August 5, 2021 It’s a day closer to the key US jobs report tomorrow and it was evident in some of the price action. Risk focused traders might be “waiting this one out”. When you expect 850K new jobs, and you have a “proxy” like the ADP job report