PMIS
Gold ends with gains for third straight week as US inflation falls, economic concerns grow
The US yields and the US Dollar Index slumped to multi-week lows on the subdued US CPI inflation data (June). The ten-year US yields slid 0.60% on Friday as the yields fell around 2% on the week. The two-year yields, more sensitive to monetary policy, were down nearly 3% on the week. The US Dollar Index was down about 0.80% this week.
Hawkish Fed, other bearish factors hurting gold
The ten-year US yields at 4.38% were up 2.28% on the day and were up around 4% on the week. The two-year yields were up 0.20% on the week as they closed around 4.75%
Commodity Talk: How to trade precious metals this week
This week, focus on buying gold, silver, and crude oil, selling on the rise for Natural Gas and Copper. Gold's support is at Rs 71,200 and resistance at Rs 72,900 levels.
US PMI data triggers sharp decline in gold prices
Gold prices surged to a two-week high of $2,366 following a second rate cut by the Swiss National Bank and weaker US data. Traders anticipate a move by the US Federal Reserve, especially after the European Central Bank's rate cut.
Key focus will be on US retail sales, PMI data, and Eurozone: Naveen Mathur
From gold prices to the Federal Reserve's stance on rate cuts, there's a lot happening in the world of commodities right now. In an exclusive interview with ETMarkets, Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, shares his insights on the current state of the commodities market and this week's trends.
Gold slips as investors await clues on US rate cuts
Gold prices fell on Monday as the U.S. dollar held firm, while investors looked forward to economic data and comments from Federal Reserve officials for clarity on the rate cut timeline.
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Not with standing weekly loss, downside in gold likely to remain limited
Going by the action in bonds, the markets are still not giving much credence to the idea of a rate hike. The next week is quite crucial for the financial markets as many major data and reports will be released.
Moody's projects 6.8 per cent GDP expansion in 2024 on strong growth, post-election policy continuity
Moody's Ratings projected India's growth at 6.8% in 2024, followed by 6.5% in 2025. The prediction was driven by economic expansion and post-election policy continuity. The real GDP grew by 7.7% in 2023, with strong government spending and manufacturing activity. High-frequency indicators suggest sustained momentum in the economy. Moody's expects 6-7% annual GDP growth with policy continuity and increased capital expenditure. Private investment outlook is positive, despite inflation volatility.
Gold records its worst weekly fall this year on hawkish Fed minutes
April's preliminary US economic data shows unexpected strength in durable goods orders, rising 0.70% against a predicted -0.80% decline. Even excluding transportation, the sector grew 0.4%, surpassing the 0.20% forecast. Consumer sentiment, measured by the University of Michigan, also improved to 69.10 from 67.70. However, inflation expectations for the next year and five to ten years fell slightly below predictions, at 3.30% and 3.00%, respectively.
India's April business growth at near 14-year high, PMIs show
India's business activity surged to its highest level in nearly 14 years due to strong demand, reflecting robust economic growth. HSBC's purchasing managers' index rose to 62.2, signaling expansion in both manufacturing and services sectors. Despite easing input inflation, rising demand may delay rate cuts as inflation is expected to persist.
Gold edges higher; hovers near one-week low on tempered Middle East fears
Policymakers including U.S. Federal Reserve Chair Jerome Powell last week backed away from providing any guidance on when interest rates might be cut, saying instead that monetary policy needs to be restrictive for longer.
India’s rising factory activity boosts economy, flash PMIs show
Asia’s third-largest economy logged a blowout growth rate of 8.4% in the final three months of last year, although the figures were boosted by one-off items.
Sterling in narrow range versus dollar before PMIs
Money market traders are pricing around a 60% chance that the BOE cuts interest rates in May, with the first 25 basis point reduction fully priced by June. The market expects around 105 basis points of easing this year.
Darkest days likely over for euro zone factories, Dec PMIs show
While the input and output prices sub-indexes remained high, they both dropped substantially, likely welcome news for policymakers at the European Central Bank who have been trying to calm rampant inflation by tightening monetary policy.
Grim PMIs knock euro, sterling to new lows as recession looms
The euro slipped 0.8% to $0.97510, its lowest level since October 2020, after S&P Global's flash euro zone Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, fell further in September.
Global manufacturing rebound falters as war takes its toll
In Asia, manufacturing hubs South Korea and Vietnam saw the sharpest downturn in their PMIs. Taiwan, Thailand and Malaysia also declined, with the latter slipping below 50.
European stocks inch towards record high as PMIs, chip rally support
The pan-European STOXX 600 index rose 0.5 per cent, hovering just 2 points below its all-time high. The benchmark ended the first quarter with a 7.7 per cent rise - its fourth straight quarter of gains.
World market themes for the week ahead
Recovery won’t be smooth, but then, oxen are reputed to be strong and patient. In China, too, they are having to be patient -- pandemic-linked curbs exclude the usual high-spending week- long holiday with travel and parties. Hopefully, next year.
European stocks extend recovery ahead of PMIs; Adidas jumps
The German DAX rose 1%, with Puma and Adidas up over 4% after U.S. sportswear maker Nike reported strong earnings and forecast better-than-expected sales for 2020.
UK economy set to shrink 7% or more, April PMIs dive: IHS Markit
IHS Markit said its monthly Purchasing Managers' Index (PMI) for the services sector fell to its lowest since the survey started in 1996, dropping to 13.4 in April from 34.5 in March, only a fraction better than an initial flash estimate of 12.3. Last week's manufacturing PMI was similarly dire, and IHS Markit said that taken together, they pointed to the deepest economic downturn "in living memory".
This week holds clues on recession risks
Sweden’s Riksbank may scrap plans to raise interest rates when its officials gather on Thursday.
Double whammy for HNIs: After tax hit, PMSes let them down in July
One-fifth of PMS schemes eroded investor wealth by over 10%, with the worst drop being 14.6%.
China gives little sign of slowdown as PMIs hold up
The non-manufacturing PMI, covering services and construction, rose to 54.8, the statistics bureau said Monday, beating estimates. Levels above 50 indicate improvement.
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Users will be able to rate the highways on the basis of comfort of the journey, traffic management and time taken at toll plazas.
Modest recovery ahead as firms unwilling to hire more despite improved PMIs: HSBC
Manufacturing PMIs at 50.7 in February compared to 50.4 in January and services PMI at 50.8 in February compared to 49.9 in January are in the positive territory, led by stronger private sector output and new orders.
Euro credit get a slightly wider start as markets chop ahead of PMIs
Firstly there was the ongoing media frenzy of when the ECB will pull the trigger on full-blown QE, which ramped up further after poor inflation numbers.
Euro zone flash PMIs signal recession as weakness spreads through Germany
The euro zone now looks destined for its second recession in three years, as the slowdown is even spreading through Germany.
Remain positive on Indian stocks; risk-reward ratio favourable: Baring AMC
Although markets have definitely come down a bit in the last few quarters, still they remain higher and at the same time the markets are trading at reasonable valuations
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