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Asian equities rally - MarketPulse

Asian equities rally
Asia markets higher after Wall Street gains
Asia Pacific stock markets are off to a positive start today on the back of positive regional data and Wall Street finishing on a positive note. Overnight, the S&P 500 gained 0.37%, with technology outperforming. The Nasdaq leapt by 1.54%, with the Dow Jones almost unchanged. Month-end rotation trades dominated proceedings after the ADP data and the Biden infrastructure package caused no ructions in the US bond market. I suspect the news was priced into financial markets at a much higher level than I expected, muting its impact.
President Biden announced the first details of his highly anticipated infrastructure programme overnight. The package itself totalled around USD2.25 trillion of spending over 10 years, with approximately USD1.60 trillion of corporate tax rises phased in over 15 years. Biden did not mention the expected hike in income taxes for higher earners or on capital gains taxes, which will be needed in order to pay for the massive package.

Kuala-lumpur , Malaysia , Australia , Japan , Shanghai , China , Hong-kong , Singapore , Good-friday , New-south-wales , Canada , France

Oil higher as OPEC meets, gold rebounds - MarketPulse

Oil higher as OPEC meets, gold rebounds
Posted 4 hours agoSharePrint
WTI rises on OPEC expectations to hold output cuts
Oil prices are marching higher, snapping a two-day losing streak ahead of today’s OPEC meeting. Concerns over the demand outlook have dragged on the price of oil as Covid cases rise, France goes into its third national lockdown and OPEC downwardly-revised its growth forecasts for this year.
Today those same factors are building on the case for OPEC to keep production curbs in place for another month, offering support to the price of oil.
Looking back at last month’s meeting, the OPEC+ group were cautious. Since then, the Covid picture has deteriorated significantly not just in Europe, but also in India and Brazil. Consequently, the outlook for demand has also deteriorated making no significant changes to production the most likely outcome.

China , India , France , Brazil , Biden-infrastructure-package , China-caixin-manufacturing-pmi , Covid-19 , Gold , Opec , Us-adp-employment-report , Us-nonfarm-employment-change

Biden's spending spree and strong PMI data overshadows Covid concerns

Biden’s spending spree and strong PMI data overshadows Covid concerns
Posted 4 hours agoSharePrint
FTSE, European indices rise
European stocks have plenty of cheer on the final day of a short trading week, with the Dax and EuroStoxx 50 hitting a fresh all-time high, successfully shrugging off Covid concerns.
News that President Biden is ready to inject a further USD2 trillion into the US economy has been well received. The world’s largest economy will see the huge injection of cash improve roads, railways, broadband and clean energy, while being offset by a rise in corporate taxes. Investors are already pricing in the read-across effect, and a boost to the US economy is good news for the global economy.

Germany , Sweden , United-kingdom , France , Nasdaq , President-biden , United-kingdom-covid , Biden-infrastructure-plan , Cac , Covid-19 , Dax

Pound shrugs as Construction PMI rises - MarketPulse

Pound shrugs as Construction PMI rises
March 4, 2021SharePrint
The British pound remains range-bound in the Thursday session. Currently, GDP/USD is trading at 1.3977, up 0.16% on the day.
Construction sector rebounds
The UK construction industry accelerated in February with a PMI read of 53.3, up sharply from 49.2. The 50-level separates contraction from expansion, so construction is again showing growth. This is a result of new construction projects in anticipation of stronger economic conditions over the course of the year. February PMIs are pointing to the economy gathering steam, which should be a bullish sign for the British pound. The Manufacturing PMI rose to 55.1, slightly above the estimate of 54.9. The services sector also improved, with the PMI climbing to 49.5, up sharply from 39.5 beforehand. The national lockdown has resulted in pent-up demand, and with the government slowly opening up the economy, we can expect PMI numbers to continue to point upwards.

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NZD dips despite strong commodities data - MarketPulse

NZD dips despite strong commodities data
March 3, 2021SharePrint
The New Zealand dollar is down considerably in Wednesday trading. Currently, NZD/USD is trading at 0.7245, down 0.65% on the day.
New Zealand dollar stabilizes
The New Zealand dollar finds itself in calm waters this week, after taking the market on a roller coaster ride last week. NZD/USD posted sharp gains early last week, but then reversed directions and coughed up these gains late in the week. The catalyst for the steep decline was the sharp jump in US bonds yields, which boosted the US dollar. The 10-year yields climbed to a one-year high last week, but have now retreated. This led to the US dollar rally quickly running out of steam, and the New Zealand dollar has been drifting throughout the week.

New-zealand , Employment-change , Covid-19 , New-zealand-anz-commodity-prices , Nzdusd , Us-10-year-treasury-yields , Us-adp-employment-report , Us-nonfarm-employment-change , புதியது-ஜீலாந்து , வேலைவாய்ப்பு-மாற்றம் , புதியது-ஜீலாந்து-அன்வருள்-பண்டம்-ப்ரைஸஸ்

Gold sends for Spandau Ballet - MarketPulse

Gold sends for Spandau Ballet
February 5, 2021SharePrint
Gold slides below 1800
US yields firmed overnight, notably in the 30-year tenor. Hopes rose overnight that the Biden stimulus would pass through the US Senate relatively intact. The prospect of a juicy wave of government spending and borrowing sent longer yields higher, boosting the US dollar, but also lifted US equities, with Wall Street’s rally resuming.
Significant casualties of note were the euro and the Australian dollar, both of whom were looking wobbly of late anyway. But it was gold that really felt the pain of higher US yields and a stronger greenback. Gold fell 2.20% to USD1793.00 an ounce, leaving it desperately wanting someone to call it indestructible and to believe in its soul as an inflation hedge.

Australia , Philippines , Japan , Indonesia , India , South-korea , Indonesian , Australian , Us-senate , Wall-street , Spandau-ballet