Latest data released by Markit/CIPS – 6 July 2021 Of note, construction output growth hits a 24-year high in June with the recovery led by house building and commercial work. Overall construction activity climbed by its quickest pace since June 1997 with new orders also rising sharply. That said, input price inflation is observed to
Month: July 2021
Argo Blockchain, a publicly traded blockchain technology company focused on cryptocurrency mining, is looking at a potential secondary listing on the Nasdaq exchange. On Tuesday, the company announced that it is now exploring the possibility of a secondary listing on the Nasdaq as part of its operational and strategic update for June 2021. Argo Blockchain said
LONDON: Oil prices surged to multi-year highs on Tuesday including US crude hitting its highest since 2014 after OPEC+ producers fell out over plans to raise supply in the face of rising global demand. Brent crude climbed 62 cents, or 0.8%, to $77.78 a barrel by 0748 GMT, a level not seen since October 2018.
As widely anticipated, the RBA announced some changes in the monetary policy. The overall tone of the meeting and the policy statement is upbeat about the economic recovery while cautious over the uncertainty and subdued inflation. Policymakers remain optimistic over economic developments. As noted in the meeting, “the outlook for investment has improved and household
UOB Group’s Economist Lee Sue Ann suggests the Bank Negara Malaysia (BNM) would leave the policy rate unchanged at 1.75% at its meeting on Thursday. Key Quotes “With additional fiscal aids to cushion the impact of full lockdown, we expect BNM to monitor the fluid situation.” “Resumption of rate cuts may be tough in an
Working trading system for forex
In this video, I will show you how to determine the direction of the market when you are forex trading, to find the best swing trading opportunities. Specifically we will look at USD/CAD to find out which swing trading opportunities we can find on it by use multi-timeframe technical analysis and order flow analysis from
In this video, I’m showing you a simple, high win rate MACD indicator strategy The Moving Average Convergence Divergence or also known as the MACD, is one of the most simplest and popular indicator used by traders. It is a trend following indicator that shows the relationship between two moving averages ************** ? Download the
Major European indices rise to start the trading week The major European indices are ending the session higher as the new trading week begins. The provisional closes are showing: German DAX, +0.09% Francis CAC, +0.22% UK’s FTSE 100, +0.55% Spain’s Ibex, +0.77% Italy’s FTSE MIB, +0.65% Looking at the German Dax daily chart, the price
The NZIER Quarterly Survey of Business Opinion (QSBO) is a closely watched NZ economic indicator From the New Zealand Institute of Economic Research Capacity utilisation is higher, coming in at 94.9% vs. 93.8% in Q1. Net 10% of businesses expect an improvement in the economic outlook on a seasonally adjusted basis from the previous quarter
Gold prices inched higher on Monday as a subdued dollar and lower bond yields amid a mixed bag of U.S. labour data allayed investor concerns about a faster policy tightening, helping the metal rise towards the $1,800 level once again. Spot gold was up 0.2% at $1,790.70 per ounce by 10:31 am EDT (1431 GMT),
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses
Late Monday, Reuters unveiled good news for travelers from the UK, India, Portugal and Russia suggesting their citizens can now travel to Germany and quarantine on arrival for 10 days. “The quarantine period can be shortened to five days if they test negative for COVID-19,” added Reuters. The news also mentions, “Prior to the change
Oil up 0.3% to $75.40 levels currently As much as there is a delay to the OPEC+ decision, oil bulls aren’t overly worried as the main sticking point there is the UAE wanting to increase its baseline output. Sure, they are blocking a deal/proposal for a 400k bpd increase in output per month starting from
Latest data released by Markit/CIPS – 5 July 2021 Composite PMI 62.2 vs 61.7 prelim The preliminary report can be found here. Although a little lower compared to May, UK economic conditions are still reaffirming a strong recovery with business activity near the 24-year high in May. The downside is that cost inflation hit a
China’s regulatory crackdown on cryptocurrencies continues to alienate major miners. Dubai-based investment company IBC Group reportedly plans to end Bitcoin (BTC) and Ether (ETH) mining operations in China following ban announcements from the different provinces across the country. The group has major mining operations in China and plans to distribute its operations to the United
OPEC+ ministers resume talks on Monday after failing to reach a deal on oil output policy in two days of talks last week amid a rare public standoff between Gulf allies Saudi Arabia and the United Arab Emirates. The spat erupted at a sensitive time for the oil market and could delay plans to pump
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
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