Author: FX
ISM Services PMI in January rose back into the expansion territory. US Dollar Index clings to impressive daily gains above 102.50. The economic activity in the US service sector expanded at a robust pace in January with the ISM Services PMI rising to 55.2 from 49.2 in December. This reading came in better than the market expectation of 50.4. Further details of the publication showed that the prices Paid Index edged slightly lower to 67.8 from 68.1 but came in higher than the analysts’ estimate of 65.5. The Employment Index recovered to 50 from 49.4 and the New Orders Index…
ISM Non Manufacturing indexNonmanufacturing PMI index 55.2 versus 50.4 estimate. Prior month 49.2nonmanufacturing business activity index 60.4 versus 54.5 estimate. Prior month 53.5employment index 50.0 versus 49.4 last monthnew orders index 60.4 versus 45.2 last monthprices paid index 67.8 versus 68.1 last monthnew export orders 59.0 versus 47.7 last monthimports 53.0 versus 52.7 last monthbacklog of orders 52.9 versus 51.5 last monthinventories 49.2 versus 45.1 last monthsupplier deliveries 50.0 versus 48.5 last monthinventory sentiment 55.8 versus 55.9 last monthbiggest monthly gain since June 2020.What contraction? Coupled with the US jobs report from earlier today, the year is getting off to…
The index picks up extra pace after another solid NFP print. The US labour market shows no signs of weakness so far. The US economy added far more jobs than predicted. The greenback adds to the optimism seen in the second half of the week and lifts the USD Index (DXY) back above the 102.00 hurdle on Friday. USD Index in multi-session tops The index climbed further and flirted with the area of recent peaks around 102.60 soon after another stellar prints from the US labour markets. The bull run, however, fizzled out somewhat afterwards. In fact, the US economy…
US jobs numbers surpass expectations in January, not earnings. US Dollar and Treasury bond yields soar after NFP. GBP/USD extends weekly losses as USD jumps on data. The GBP/USD tumbled from 1.2250 to 1.2100, reaching the lowest level in three weeks after the NFP. During the last hour, it rebounded modestly rising toward 1.2150. The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls rose by 517K in January, much higher than the market expectation of 185K. November and December’s figures were revised higher. The unemployment rate dropped to 3.4%. The US Dollar…
Michael M. Santiago/Getty Images News Major market averages opened to the downside after triple-A megacap buzzkills stopped the Big Tech party. Furthering the fuel was the pop in nonfarm payrolls data. Early on and the Nasdaq Composite (COMP.IND) lost 1.2% as it gave back some of the previous session’s big gains after Apple (AAPL), Amazon (AMZN) and Alphabet (GOOG) (GOOGL) saw post-earnings declines. At the same time the S&P 500 (SP500) dropped 0.8% and the Dow (DJI) fell by 0.3%. Nonfarm payrolls rose by to 517K well above the 185K consensus figure and 260K previous reading. At the same time…
Historically mild weather through January has seen natural gas demand slump well below seasonal norms. Is there a bottom in sight for gas markets? Strategists at TD Securities analyze the outlook for the commodity. Weak prices could keep production growth flat for now “We expect that weak prices could keep production growth flat for now, but prices would need to fall below $2/MMBtu to induce material economic shut-ins.” “While further weather-driven price weakness could be in the cards in the immediate term, we do not anticipate a further rout in prices with the return of Freeport LNG potentially signaling that…
S&P/global services business indexThe more closely followed ISM nonmanufacturing PMI index will be released at the top of the hour with expectations of a move back above the 50.4 from 49.2 last month. The nonmanufacturing business activity index is expected to rise to 54.5 from 53.5 last month. Source link
Gold plunges after a solid January US NFP report. The US economy added more than 500K jobs, and the unemployment rate fell to 3.4%. Gold Technical Analysis: To the upside eyeing $1890, and downwards $1850. Gold price tumbles sharply after the US Department of Labor revealed a staggering Nonfarm Payrolls report that added more jobs to the economy than expected and saw the unemployment rate dip lower. Therefore, the XAU/USD is dropping from daily highs at $1918 and collapsing toward the $1880 area, breaking the 20-day EMA on the way down. US jobs data crushed expectations; further Fed action warranted…
The US Dollar will likely weaken anew when uncertainties about the Fed, the US economy’s landing and China’s recovery resolve, in the view of economists at HSBC. Gap between the Fed’s guidance and the market’s less hawkish perspective remains in place “We think the path of the USD is likely to remain choppy in the coming months.” “That gap between the Fed and the market still needs to be resolved, as does the debate about whether the US economy is heading towards a notable recession.” “China’s growth prospects also remain central to the path for risk appetite and the USD.…
The major US indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment…