Latest data released by Markit/CIPS – 3 June 2021 Composite PMI 62.9 vs 62.0 prelim The preliminary report can be found here. Stronger revisions only add to the gloss on this report as UK services sector output growth is seen at its quickest in 24 years. The reopening of the economy and looser virus restrictions
News
NEW DELHI: Gold prices remained steady, hovering around the five-month highs on Thursday, after the US treasury yield softened. Investors are awaiting the key US economic readings later this week. The yellow metal has turned choppy in domestic markets as investors look towards the monetary policy stance of the central bank. Focus shifts to US
The latest PMIs reveal that China’s economic activities eased in May. The Caixin services PMI eased to 55.1 in May from 56.3 a month ago, while the manufacturing PMI increased marginally, by -0.1 point, to 52.The detailed report suggests that new business slowed which price pressures intensified. The situation applies not only to the services
Forex news for North American trading on June 2, 2021 A rollercoaster day in the forex and stock markets today. The only data came out of Canada with building permits which showed a decline of -0.5% but that was much better than expectations. The Feds Beige book was released later in the day, and showed
NEW DELHI: Gold slipped by Rs 116 to Rs 48,772 per 10 grams in the national capital on Wednesday in line with a fall in global precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,888 per 10 grams. Silver also tumbled Rs 1,291 to Rs 70,836 per
The financial markets continue to be range bound today, as traders seem to be holding their bets before Friday’s US job report. Dollar is recovering mildly but it’s held below next term resistance levels. Sterling is currently the stronger one, while Swiss France is the weakest. Technically, we’re still staying near term bearish on the
There are still no clear answers on the inflation debate at the moment The market is looking rather unremarkable for now and the key factor that is influencing that is arguably the bond market as Treasuries are continuing to show little conviction to do anything amid the debate on inflation. Bond traders remain rather on
NEW DELHI: Gold prices on Wednesday declined from a near five-month high after US manufacturing activities expanded boosting investment confidence into the riskier assets. A stronger US dollar added pressure on the gold prices. Domestic markets followed the global trends and precious metals declined. Data showed that US manufacturing activity picked up in May as
Trading continued to be rather subdued in Asian session. Major pairs and crosses are staying inside yesterday’s range, as well as last week’s range. Sterling is currently the weakest one, after failing to follow through the rally attempt earlier this week. Dollar is the next weakest for now. On the other hand, Aussie and Swiss
The release of ‘partial’ indicators for the Q1 GDP has seen estimates for the data revised higher. The net of indicators for net exports, inventories public spending that all flow into the GDP calculation was stronger than expected. Central median expected is now +1.5% q/q (the previous was +3.1%) y/y expected +0.6%, prior -1.1% data
NEW DELHI: Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,607 per 10 gram. Silver also jumped Rs 952 to Rs 71,850 per
Canadian Dollar jumps broadly today, following upside breakout in oil price, and partly supported by solid GDP growth data. Australian Dollar is following as the second strongest, while Dollar is also rebounding. On the other hand, Sterling reversed earlier rallies after failing to sustain above a key resistance against Dollar. Subsequent selloff sends the Pound
Latest data released by Markit – 1 June 2021 The preliminary report can be found here. The headline is a record high reading as manufacturing conditions continue to improve at an unprecedented pace in the UK amid the reopening, with output growth and new orders also rising sharply. Markit notes that: “The UK PMI surged
NEW DELHI: Gold prices on Tuesday traded near a five-month high scaled last week, supported by a softer dollar and growing inflationary pressures. The precious metals extended gains in domestic markets on the back of mixed cues. Investors awaited key US data that will provide a clearer picture on the global economy’s recovery path. Market
As expected, the RBA left all monetary policy measures unchanged in June. Policymakers maintained a dovish tone, suggesting no rate hike at least until 2024. They also affirmed that some adjustments to the monetary policy would be made in July. On economic developments, while reiterating the “strong” growth outlook in 2021 and 2022, the central
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: Gold rose by Rs 195 to Rs 48,608 per 10 gram in the national capital on Monday following a gain in the precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,413 per 10 gram. Silver dipped marginally by Rs 15 to Rs 70,521 per kilogram
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance