*Japan Capital Spending +11.0% On Year In Q1

Japan Capital Spending +11.0% On Year In Q1

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source http://www.mt5.com/forex_news/quickview/2212921/

US Dollar Dithers After Debt Deal Passes House of Reps. Will the Fed Now Drive USD?

The US Dollar struggled for direction on Thursday after the US debt deal passed through the House of Representatives ahead of the next hurdle. The market is now eyeing the Fed for clues. Via DailyFX - Market News https://ift.tt/IxmYEsH

Making Sense of Japanese Yen’s Recent Slide: Is it the Start of a Renewed Leg Lower?

There are a couple of things that stand out on the charts of the Japanese yen against the US dollar and the closely correlated US Treasury yields recently. Importantly, what does it tell us about the future trend? Via DailyFX - Market News https://ift.tt/IxmYEsH

Gold Price Boosted as Treasury Yields Slip Ahead of Debt Ceiling Resolution

The gold price outlook has recovered from a test of support as US interest rates pull back from their run higher with hopes that the debt deal will pass through Congress. Via DailyFX - Market News https://ift.tt/0lB7TEk

Oil Futures Settle Sharply Lower On Demand Worries

Crude oil prices fell sharply on Wednesday as worries about fuel demand resurfaced after data showed a contraction in manufacturing activity in China.

A stronger dollar weighed as well on oil prices. The dollar index climbed to 104.70 earlier this afternoon, gaining about 0.5%. However, the index pared most of its gains subsequently and was at 104.30 a little while ago.

West Texas Intermediate Crude oil futures for July ended higher by $1.37 or about 2% at $68.09 a barrel.

Brent crude futures were down $1.10 or 1.49% at $72.61 a barrel a little while ago.

According to the latest survey from the National Bureau of Statistics, the manufacturing sector in China continued to contract in May, and at a faster rate. The NBS Manufacturing PMI fell to a five-month low of 48.8 in May from 49.2 in April. Ecomomists had expected a reading of 51.4.

The bureau also said the non-manufacturing index came in with a score of 54.5, again missing forecasts for 54.9 and down from 56.4 in the previous month.

The composite index had a score of 52.9, down from 54.4 a month earlier.

On the debt ceiling deal front, the U.S. House Rules Committee voted 7-6 Tuesday to advance a bill dealing with the federal debt ceiling to the full House.

The U.S. House of Representatives will vote on the bill later today to raise the $31.4 trillion debt ceiling.

Traders await the meeting of the Organization of the Petroleum Exporting Countries and allies, collectively known as OPEC+, later this week.

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source http://www.mt5.com/forex_news/quickview/2212916/

S&P 500, Nasdaq 100 Drop on Global Growth Woes and Still-Tight US Labor Market?

The S&P 500 and Nasdaq 100 fell for a second consecutive day as global growth woes and signs of a still-tight US labor market influenced sentiment. Will the S&P break under a Rising Wedge? Via DailyFX - Market News https://ift.tt/0lB7TEk

Gold Futures Settle Higher As Traders Await Vote On Debt Ceiling Bill

Gold futures settled modestly higher on Wednesday despite hawkish Fed expectations and signs of progress in the U.S. debt ceiling deal.

A firm dollar limited gold's upside. The dollar index climbed to 104.70, gaining 0.5%, before dropping to around 104.40.

Gold futures for August ended higher by $5.00 or about 0.3% at $1,982.10 an ounce.

Silver futures for July ended up $0.348 at $23.587 an ounce, while Copper futures for July settled at $3.6455 per pound, down $0.0240 from the previous close.

The debt-limit deal struck by U.S. President Joe Biden and Speaker Kevin McCarthy is heading toward a vote later today in the House of Representatives after clearing a crucial procedural hurdle.

Data from the Labor Department showed an unexpected increase in U.S. job openings in the month of April.

The report said job openings rose to 10.1 million in April from a revised 9.7 million in March, while economists had expected job openings to decrease to 9.4 million.

"While there are some concerns over the veracity of the JOLTS survey due to historically low response rates, the upshot remains that labor market strength remains robust," said Matthew Martin, U.S. Economist at Oxford Economics.

Continued strength in the labor market has raised concerns about the outlook for interest rates ahead of Friday's closely watched monthly jobs report.

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source http://www.mt5.com/forex_news/quickview/2212915/