Business activity in the United States’ (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing Managers’ Index (PMI) improving to 54.8 in the flash estimate from 53.9 in September. In this period, the S&P Global Manufacturing PMI edged higher to 52.2 from 52, while the Services PMI climbed to 55.2 from 54.2….
Prior month 52.0 S&P Global manufacturing PMI 52.2 versus 52.0 estimate Services index 55.2 versus 53.5 estimate. Prior month 54.2. Composite flash PMI data 54.8 versus 53.9 last month The Michigan consumer sentiment sentiment will be released at 10 AM with expectations of 55.0 versus 55.0 last month This article was written by Greg Michalowski at investinglive.com.
The Canadian Dollar (CAD) is a little softer following President Trump declaring that all trade talks with Canada had been ‘terminated’, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. BoC policy makers may lean into market pricing for a 25bps cut “The move came in response to a US TV ad by the Ontario government that was…
Comments from both the US and China side were positive following two days of meetings between top trade negotiators. “I think we have a very successful framework for the leaders to discuss on Thursday,” US Treasury Secretary Scott Bessent told reporters. The leaders will meet in the week ahead with looming deadlines on Chinese rare earth mineral exports and…
So far, however, Russia still seems to be finding buyers for its Oil, Commerzbank’s commodity analyst Carsten Fritsch notes. Oil production in Kazakhstan impaired “According to the aforementioned data from Bloomberg, Russia’s seaborne crude Oil exports remained at a high level of 3.7 million barrels per day in the last reporting week. The less volatile 4-week average even rose…
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The Euro (EUR) is steady, trading flat against the US Dollar (USD) and consolidating in a tight range just above 1.16. The preliminary euro area PMI’s were released and revealed a modest recovery in manufacturing, reaching the neutral (neither contracting or expanding) threshold at 50, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. EUR’s technicals are neutral…
Sunday read for investingLive.com. A reflection on ethics, AI, and what markets might price next. Page 36 of the book ‘MAHATMA, a Golden Treasure of Wisdom’ When Mahatma Gandhi warned about the craze for machinery, he did not reject progress. He rejected a mindset that allowed tools to serve greed rather than humanity. Replace the loom with a large…
The oversupply on the Oil market had put significant pressure on the prices of Brent forward contracts with short-term maturities in recent weeks: the backwardation that was still pronounced just a month ago has decreased noticeably, Commerzbank’s commodity analysts Barbara Lambrecht and Carsten Fritsch report. Gasoil market showing signs of tightness “For a short time, the 6-month contract was…
Prior month 55.0 Michigan consumer sentiment 53.6 versus 55.0 estimate. Current conditions 58.6 versus 61.0 last month Expectations 50.3 versus 51.2 last month. 1 year inflation expectations 4.6% versus 4.6% last month. 5 year inflation expectations 3.9% versus 3.7% last month Lower sentiment data with marginally higher inflation going out to 5 years. This article was written by Greg…
