Commodities

Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …

French fishermen are planning actions, including possibly blocking British vessels’ access to French ports, in protest against Britain’s refusal to grant them more licenses to operate in UK territorial waters, fishermen said on Tuesday.France and Britain have been at loggerheads for months over how many licenses French fishermen should get …

Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …

Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …

US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …

Gold prices fell more than 2% today, Monday, as the US dollar jumped after the re-nomination of Federal Reserve Chairman Jerome Powell for a second term, This fueled expectations that the US central bank would continue the Fed policy. Gold in spot transactions was down 2.08% at $ 1806.20 an …

Oil prices fell on Tuesday after rising in the previous session, as a result of talk that the United States, Japan, and India will release crude oil reserves to bring prices down, despite the risk of faltering demand due to the spread of coronavirus cases in Europe. A source familiar …

Finally, oil prices are rebounding from recent losses, on the back of reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war …

“Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night. The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached …

Gold prices have put in an aggressively retreating move Monday, seemingly driving on the news that Fed Chair Jerome Powell has been reappointed for a second term.While few would consider Chair Powell as a hawk, the fact that this move has printed so cleanly off of that headline indicates that …