Dollar drops notably in early US session after another NFP miss. It has now reversed all of yesterday’s late gains. Canadian Dollar also turns softer after weaker than expectation job data. On the other hand, other commodity currencies strengthen mildly. In other markets, US future turn up on expectation Fed is not closer to tapering.
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Latest data released by Markit/CIPS – 4 June 2021 There are plenty of positives in this report, with new orders increasing at its quickest pace on record while output growth accelerates to its strongest since September 2014. New business volumes also surged and employment conditions have improved markedly, bolstered by a surge in optimism with
NEW DELHI: Gold prices weakened to near two-week lows on Friday and looked set for their worst week in three months. Robust US economic numbers boosted dollar and bond yields. Yellow metal edged lower in domestic markets, falling from five-month highs. All focus shifts to much awaited May non-farm payroll numbers. The number of Americans
Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today’s non-farm payroll report. As of now, Yen is the second strongest for the week, following the green back. Canadian Dollar is the third strongest, and will face the test of its own
Forex news for North American traders on June 3, 2021 The US dollar moved sharply higher after better data and on expectations for a strong US jobs report tomorrow at 8:30 AM ET (1230 PM GMT). Looking at the rankings of the strongest of the weakest today, the US dollar was the runaway strongest, while the NZD
Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve. Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led
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
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