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Tuesday, 4 July 2023
Euro Ahead of US Jobs Data: EUR/USD EUR/AUD EUR/GBP Price Setups
Asia Day Ahead: Soft Start to the New Quarter; Key Focus on RBA Rate Decision
Oil Futures Settle Lower On Demand Concerns
Crude oil futures settled lower on Monday amid concerns about the outlook for energy demand following a drop in global factory activity in the month of June.
West Texas Intermediate Crude oil futures for August ended lower by $0.85 or about 1.2% at $69.79 a barrel.
Brent crude futures ended down $0.76 or about 1% at $74.65 a barrel.
A report from the Institute for Supply Management showed manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of June.
The ISM said its manufacturing PMI edged down to 46.0 in June from 46.9 in May, with a reading below 50 indicating contraction. The dip surprised economists, who had expected the index to inch up to 47.2.
In China, a private survey showed activity in the nation's manufacturing sector slowed in June.
The Caixin/S&P Global manufacturing purchasing managers' index dropped to 50.5 from 50.9 in May, raising calls for more stimulus to boost growth in the world's second-largest economy.
Meanwhile, business surveys from other parts of Asia and Europe also painted a gloomy picture, as traders brace up for tighter supply.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2214563/
Treasuries Move To The Downside Amid Uptick On Wall Street
Treasuries fluctuated over the course of a slightly shortened trading session on Monday before ending the day firmly in negative territory.
After recovering from early weakness, bond prices moved back to the downside over the course of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.9 basis points to 3.858 percent.
With the increase on the day, the ten-year yield reached its highest closing level in almost four months.
The weakness among treasuries came as stocks on Wall Street moved modestly higher amid choppy trading, with the Nasdaq and the S&P 500 reaching their best closing levels in over a year.
On the U.S. economic front, the Institute for Supply Management released a report showing manufacturing activity unexpectedly contracted at a slightly faster rate in the month of June.
The ISM said its manufacturing PMI edged down to 46.0 in June from 46.9 in May, with a reading below 50 indicating contraction. The dip surprised economists, who had expected the index to inch up to 47.2.
A separate report released by the Commerce Department showed U.S. construction spending climbed by more than expected in the month of May, although the advance came following a notably downwardly revised increase in April.
When trading resumes following the 4th of July holiday, the focus will shift to the minutes of the latest Federal Reserve meeting along with the Labor Department's closely watched monthly jobs report.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2214562/
Monday, 3 July 2023
BoJ Tankan: Q2 Large Industry Capital Spending 13.4%
BoJ Tankan: Q2 Large Industry Capital Spending +13.4%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2214486/
BoJ Tankan: Q2 Large Manufacturing Index 5 Outlook 9
BoJ Tankan: Q2 Large Manufacturing Index +5, Outlook +9
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2214487/