This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the market is no longer seeing the
Month: August 2023
nonfarm payrolls We won’t have to wait long for the non-farm payrolls report as the calendar turns to September on a Friday. There’s a big quirk in the August jobs report, as the initial data tends to run below the consensus. It’s missed to the downside (before revisions) in 17 of the past 22 years.
Gold prices were trading flat on Thursday in the early trade amid a steady dollar index. The yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price
Dollar is facing accelerated selloff following the release of disappointing ADP private employment data, which showed deceleration in both job and pay growth. Although the employment numbers were by no means dismal, the cooling job market is being perceived as a positive development by Fed and market participants. This perception stems from the notion that
A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City. Spencer Platt | Getty Images Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease
In this article BF.B Follow your favorite stocksCREATE FREE ACCOUNT Jack Daniel’s Tennessee Whiskey Getty Images Jack Daniel’s maker Brown-Forman on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild. Net sales for whiskey products decreased by 1%, led
Share: Asian stock markets trade mixed on Thursday ahead of the US inflation data. Chinese Manufacturing and Service PMI deteriorated further in August. Bank of Japan (BoJ) policymaker said that they need more time to transition to monetary tightening. Investors will focus on the US inflation and labor data later in the day. Asian stock
The price of WTI crude oil futures are settling at $79.83. That’s up $0.78 or 0.99%. For the week, the price-1.03% or $-0.87 (at current levels). It is the 2nd consecutive week to the downside after last week’s decline of -3.04%. Crude oil Looking at the chart above, at the lows this week, the price
UPCOMING EVENTS: Monday: UK Bank Holiday, Australian Retail Sales. Tuesday: Japan Unemployment Rate, US Consumer Confidence, US Job Openings. Wednesday: Australia CPI, US ADP. Thursday: Japan Retail Sales, Chinese PMIs, ECB Minutes, Eurozone CPI, Eurozone Unemployment Rate, US Jobless Claims, US Core PCE. Friday: Swiss CPI, US NFP, US ISM Manufacturing PMI. Tuesday The US
Paolo Ardoino, chief technology officer of stablecoin issuer Tether (USDT), recently found himself addressing rumors about images of large industrial containers online. These speculations led him to rejecting questions about where Tether is mining Bitcoin (BTC). On Aug. 26, in a post published on X (formerly known as Twitter), Ardoino shed light on the curiosity sparked by the photo
Oil prices climbed about 1% on Friday, supported by supply cuts despite weak economic news from Germany, a stronger U.S. dollar and the prospect of more U.S. rate hikes. Brent futures rose 96 cents, or 1.2%, to $84.32 a barrel by 12:16 p.m. EDT (1616 GMT). U.S. West Texas Intermediate (WTI) crude rose 78 cents,
Dollar clinched the title of the week’s best performing currency, even though there was just muted impact from Fed Chair Jerome Powell’s remarks at Jackson Hole. While Powell’s renewed commitment to combating inflation prompted traders to elevate their expectations for another rate hike within the year, broader market reactions, notably in equities and bonds, were
Shoppers at Brickell City Centre in Miami, Florida, US, on Wednesday, June 14, 2023. Eva Marie Uzcategui | Bloomberg | Getty Images Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger than expected showing for the month, the Commerce Department reported Tuesday. The advanced retail sales report
Food delivery couriers for Meituan stand with insulated bags during a morning briefing in Beijing, China, on Wednesday, April 21, 2021. Yan Cong | Bloomberg | Getty Images Meituan‘s Hong Kong-listed shares fell more than 5% on Friday after CEO Wang Xing warned of a food delivery slowdown in the next quarter. “For our food
Share: GBP/USD falls 0.18%, as concerns over global business activity and China’s real estate market woes fuel a risk-off environment. US Dollar Index (DXY) advances 0.19% to around two-month highs, buoyed by Powell’s hawkish remarks on inflation and rate hikes at Jackson Hole. Mixed US economic data, including lower-than-expected Initial Jobless Claims, adds complexity to
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