According to US Census Bureau data, US Factory Order rose 1.0% MoM in October. This reading is above the expected 0.5% gain and marked an acceleration on the 0.5% MoM gain seen back in September.Excluding transportation, orders were up 1.6% on the month also marking an acceleration on September’s MoM …
Read More »Oil prices are heading to end a two-week losing streak
Oil prices rose on Friday, poised to conclude the week with gains after two consecutive weeks of los…
Gold is on track to record its first weekly loss in 6 weeks
Gold prices saw little change on Friday ahead of a crucial inflation report in the United States but…
Market Drivers; US Session, April 25
Before Friday’s release of PCE data, the USD Index (DXY) had already fallen to multi-day lows …
Will Eurozone’s Prices Impose Bumpy Road Ahead for ECB?
The Eurozone’s recovery from the recent downturn is largely due to the growth of the service s…
Dow Jones stumbles amid still hot inflation
The Dow Jones fell over 500 points on Thursday due to inflation complications and missed US GDP figu…
What to Expect from Looming PCE Report?
March is likely to see the Fed’s Personal Consumption Expenditures (PCE) index stay stubbornly…
Treasury yields rise after inflation data
US Treasury yields continued to rise since the beginning of daily trading on Thursday, with a boost …
US dollar records mild gains following GDP, jobs data
The US Q1 GDP shows a slower growth rate of 1.6% YoY. Positively, there is a solid weekly trend in j…
Gold price steadies as GDP data influences interest rate outlook
Gold price has maintained intraday gains above $2,300 amid higher US Q1 GDP inflation. Gold is tradi…
US economic growth slows more than expected in Q1
The US economy is expected to have maintained solid growth in the first quarter of the year, albeit …
Market Analysis
December, 2021
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3 December 2021 7:37 pm
November’s ISM Services PMI Jumps To Record Reading
Headline ISM Service PMI rose to 69.1 in November. The new reading has marked a record-high going back to 1997 when the survey began. The Institute of Supply Management’s headline Services PMI index rose to a fresh record high at 69.1 in November versus forecasts for a modest fall to …
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3 December 2021 7:19 pm
USD Remains Resilient Despite Disappointing NFP
US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed’s hawkishness to be a significant offset to …
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3 December 2021 6:58 pm
USD/CAD Collapses On US NFP Data
US Nonfarm payrolls report rose by 210000, lower than the expected 550000. Canadian Employment Change increased 5 times as many as estimations while the Unemployment Rate has fallen.USD/CAD threatens to break the 200-hour SMA, that once breached, would send the pair dipping towards 1.2700.During the New York session, the USD/CAD …
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3 December 2021 5:49 pm
Canada: Economy Adds 153.7K Jobs in November
The Canadian economy added 153.7K jobs in the month of November, well above expectations for a 35K and a marked acceleration from the 31.2K jobs added in October. 79.9K of these job gains were in full-time employment. Meanwhile, the unemployment rate dropped to 6.0% from 6.7% in October, a significantly …
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3 December 2021 5:38 pm
US Nonfarm Payrolls Rises in November
Nonfarm Payrolls (NFP) rose by 210K in November versus the median forecast for a 550K rise, data published by the US Bureau of Labor Statistics showed on Friday. That marked a substantial decline versus the 546K jobs added to the US economy in October.
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3 December 2021 5:14 pm
Dollar Climbs as Investors Await US Jobs Data
The dollar rose on Friday against most major currencies, as traders positioned themselves ahead of the release of crucial US jobs data that could pave the way for an early Federal Reserve interest rate hike. The dollar index, which measures the performance of the US currency against six other major …
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3 December 2021 3:49 pm
Eurozone Retail Sales Rise in October
Eurozone’s Retail Sales rose by 0.2% MoM in October versus 0.2% expected and -0.4% last, the official figures released by Eurostat showed on Friday. Annually, the bloc’s Retail Sales came in at 1.4% in October versus 2.6% recorded in September and 1.2% estimated.
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3 December 2021 2:36 pm
Market Drivers – Asian Session 3-12-2021
The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading. Gold futures rose 0.66% to $1,774.30 by 10:48 PM ET (3:48 AM GMT), after falling to their lowest level in nearly …
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3 December 2021 2:00 pm
UK Final Services PMI Revised Down in November
The UK services sector activity expanded less than expected in November, the final report from IHS Markit confirmed this Friday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading.
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3 December 2021 1:59 pm
Gold is Rising But Waiting For The Data
Gold rose on Friday morning in Asia. However, the yellow metal braced for its third consecutive weekly decline, weighed by signs that the US Federal Reserve will accelerate the pace of reduction in asset purchases and raise interest rates earlier than expected to curb inflationary pressures. Gold futures rose 0.66% …
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3 December 2021 1:03 pm
Inflation in Turkey Jumps to a 3-Year High as The Lira Tumbles
Data on Friday showed that inflation in Turkey rose more than expected to 21.31% on an annual basis in November, its highest level in three years, exacerbating the decline in real yields after the unprecedented decline of the lira to its lowest levels ever. The Turkish Statistical Institute said consumer …
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3 December 2021 12:30 pm
Japan’s Nikkei Reverses Its Trend And Closes Higher
Japan’s Nikkei index reversed course to close higher on Friday, led by travel and leisure stocks, as investors cashed in on battered stocks amid concerns about the impact of the mutated Omicron strain of the coronavirus. The Nikkei rose 1%, the largest percentage increase in three weeks, to close at …
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