Canadian Dollar Climbs On Higher Commodity Prices
CANBERA (dpa-AFX) - The Canadian dollar was higher against its major opponents during the European session on Tuesday, as strong manufacturing surveys across the globe spurred optimism about a faster recovery, triggering a rally in commodities.
China s manufacturing sector expanded at a faster pace in May on robust new orders and production. The Caixin manufacturing Purchasing Managers Index rose to 52.0 in May, the highest level since December and inching up from 51.9 in April.
Eurozone manufacturing activity expanded at a record pace in May despite supple bottlenecks.
IHS Markit s final Manufacturing Purchasing Managers Index (PMI) rose to a new record high of 63.1 in May from April s 62.9. This was up from a preliminary reading of 62.8.
European Shares Rally On Strong Economic Data
Euro zone manufacturing activity expanded at a record pace in May despite supple bottlenecks, a survey showed.
IHS Markit s final Manufacturing Purchasing Managers Index (PMI) rose to a new record high of 63.1 in May from April s 62.9. This was up from a prelim 62.8.
Inflation in the region hit its highest level since October 2018 as COVID-19 restrictions across Europe were scaled back, Eurostat said.
Consumer prices in the 19 countries sharing the euro reached 2.0 percent, beyond the target of the European Central Bank.
The pan European Stoxx 600 jumped 1.1 percent to 451.41 after declining half a percent on Monday. The German DAX soared 1.4 percent and France s CAC 40 index climbed 0.8 percent.
WASHINGTON (dpa-AFX) - Gold prices were little changed on Tuesday as the dollar held steady underpinned by some robust U.S. economic data.Spot gold was little changed at $1,906.69 per ounce, after
by Tyler Durden
Tuesday, Jun 01, 2021 - 07:54 AM
It turns out that Monday s dip in futures was a low-volume headfake, and on Tuesday global markets hit a new record high as U.S. equity futures jumped, with spoos also approaching all time highs after markets shrugged off concerns about rising inflation and looked ahead to U.S. employment data later in the week. Brent rose above $70 to the highest since October 2018 as OPEC+ forecast a tightening global market before members meet to discuss production output today. At 715am, Emini futs were 4,226 up 24 points ot 0.58%; Dow futs were up 212 to 0.61% while Nasdaq futs rose 52 pts, up 0.38%.