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| As on May 07, 2024 12:00 AM |
Your results on : Mid Session |
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| The British construction sector advanced at the quickest pace in more than a year in April, largely due to solid rates of growth in the commercial and civil engineering segments, survey results from S&P Global showed on Tuesday. The Construction Purchasing Managers' Index, or PMI, rose to 53.0 in April from 50.2 in March. A reading above 50 suggests expansion in the sector. Among the three main categories, commercial building activity logged the fastest-growing segment, which grew for the first time in fourteen months on the back of rising workloads and a turnaround in customer demand. The civil engineering segment advanced at the strongest pace in nine months, while house building activity declined due to sluggish market conditions and the impact of elevated borrowing costs. New orders grew for the third successive month in April, though the rate of decline has eased slightly since March. Construction companies also reduced workforce numbers, linked to the non-replacement of voluntary leavers due to cost pressures and the completion of major projects. Meanwhile, supplier performance has improved at the fastest pace since December last year. On the price front, input price inflation was only modest and well below the long-run survey average. Powered by Commodity Insights |
| UK house prices edged up slightly in April as rising interest rate expectations weighed on the property market, data published by the mortgage lender Halifax showed on Tuesday. House prices saw a monthly increase of 0.1 percent in April following 0.9 percent fall in March. Powered by Commodity Insights |
| In March 2024, compared with February 2024, the seasonally adjusted retail trade volume increased by 0.8% in the euro area and by 1.2% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In February 2024, retail trade volume fell by 0.3% in the euro area and by 0.1% in the EU. In March 2024 compared with March 2023, the calendar adjusted retail sales index increased by 0.7% the euro area and by 2.0% in the EU. Powered by Commodity Insights |
| WTI Crude oil futures are lingering just under $79 per barrel, recording mild gains amid firm cues from global equities today. Prices are consolidating after testing around six week low with the near term focus shifting on the Hamas-Israel conflict and demand in the US ahead of summer driving season. Meanwhile, the energy speculators increased their net long positions in the crude oil futures markets very marginally, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Crude oil futures, traded by large speculators, hedge funds and retailers, totaled a net long position of 265461 contracts in the data reported through April 30, 2024. This was a weekly rise of 625 net contracts. Powered by Commodity Insights |
| Gold futures saw a good bounce in last session as bargain buying stayed in place following recent losses. The COMEX Gold futures spiked around 1%, adding to gains after testing one month low in last week. The metal currently trades at $2327 per ounce, down 0.16% on the day as Hamas accepting Egyptian-Qatari cease-fire proposal is capping upmove in the commodity. MCX Gold futures spiked 0.98% in last session with a massive 28% drop in volume. The counter currently trades at Rs 71240 per 10 grams, down 0.18% on the day. Gold demand from China remains steadfast. According to the China Gold Association, gold consumption in the country saw a 6% spurt in the first quarter compared to the same period last year. This growth follows a 9% spike recorded in the year 2023. Powered by Commodity Insights |
| Germany's factory orders posted an unexpected fall in March due the decrease in domestic demand, data from Destatis revealed on Tuesday. Factory orders decreased 0.4 percent on a monthly basis, confounding expectations for an increase of 0.4 percent. Nonetheless, the pace of decrease slowed from the revised 0.8 percent drop logged in February. The statistical office revised the February's rate of change from +0.2 percent. New orders for capital goods and intermediate goods were down 0.4 percent each. Meanwhile, the consumer goods sector reported an increase of 0.7 percent. Foreign orders grew 2.0 percent driven by the 10.6 percent surge in demand from the euro area. By contrast, orders from the non-euro area dropped 2.9 percent. At the same time, domestic orders declined 3.6 percent from the prior month. On a yearly basis, the decline in factory orders slowed to 1.9 percent from 8.8 percent in the previous month. Further, data showed that real manufacturing turnover fell 0.7 percent month-on-month, following a 1.1 percent increase in February. Powered by Commodity Insights |
| Germany's exports rebounded at a faster-than-expected pace in March, while the growth in imports slowed sharply, data from Destatis revealed on Tuesday. Exports gained 0.9 percent on a monthly basis, reversing a 1.6 percent fall in February. At the same time, monthly increase in imports eased to 0.3 percent from 3.0 percent in the previous month. Nonetheless, the outcome was better than the expected 1.0 percent decrease. As a result, the trade surplus increased to EUR 22.3 billion in March from EUR 21.4 billion in the previous month. The surplus was slightly below economists' forecast of EUR 22.4 billion. On a yearly basis, exports declined 8.3 percent after a 1.1 percent decrease. Likewise, the fall in import deepened to 9.6 percent from 6.7 percent. Powered by Commodity Insights |
| The services sector in Japan continued to expand in April, and at a faster pace, the latest survey from Jibun Bank revealed on Tuesday with a services PMI score of 54.3. That's up from 54.1 in March, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Total new work increased at the fastest pace since June 2023. Moreover, the rate of growth has now accelerated for six months in a row. Survey respondents typically noted improving domestic economic conditions and resilient customer demand. Export sales also provided a positive contribution to overall new business growth in April, with the latest increase the strongest for nine months. A number of firms reported a boost to sales from inbound tourism. Service providers added to their payroll numbers for the seventh consecutive month in April, although the rate of job creation was unchanged since March. Anecdotal evidence suggested that a shortage of candidates to fill vacancies had sometimes acted as a constraint on hiring. Powered by Commodity Insights |
| The value of retail sales in Australia was down a seasonally adjusted 0.4 percent on month in March, the Australian Bureau of Statistics said on Tuesday - coming in at A$35.663 billion. Individually, sales were down for household goods, clothing, department stores, other sales and cafes, while food sales were up. For the first quarter of 2024, retail sales volume sank 0.4 percent on quarter after rising 0.4 percent in the three months prior. Powered by Commodity Insights |
| The Reserve Bank of Australia left its benchmark interest rates unchanged, as widely expected, on Tuesday. The policy board of the RBA, led by Governor Michele Bullock, decided to maintain the cash rate target at 4.35 percent. The board also retained the interest rate paid on Exchange Settlement balances at 4.25 percent. The Board expects that it will be some time yet before inflation is sustainably in the target range and will remain vigilant to upside risks, the bank said. The path of interest rates that will best ensure that inflation returns to target in a reasonable timeframe remains uncertain and the Board is not ruling anything in or out, the bank added. The bank said it will rely upon the data and the evolving assessment of risks. Powered by Commodity Insights |
| HCOB Eurozone Composite PMI Output Index came in at 51.7 in April, improving upon March?s reading of 50.3 and hitting 11-month high. Meanwhile, the PMI index for operating costs in the service sector, which largely comprises unit labour costs, has continued to increase at a rapid pace over the past twelve months, following a sharp uptick in 2022. Powered by Commodity Insights |
| Energy speculators increased their net long positions in the crude oil futures markets very marginally, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Crude oil futures, traded by large speculators, hedge funds and retailers, totaled a net long position of 265461 contracts in the data reported through April 30, 2024. This was a weekly rise of 625 net contracts. Powered by Commodity Insights |
| Precious metals speculators cut their net long positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 54494 contracts in the data reported through April 30, 2024. This was a weekly slide of 4846 net contracts and pulled down net longs from four year high. Powered by Commodity Insights |
| Germany's service sector made an encouraging start to the second quarter, posting the fastest rise in business activity for ten months, the latest HCOB PMI survey compiled by S&P Global showed. The upturn was supported by growth in new business, which in turn contributed to a pick-up in the pace of job creation as backlogs of work accumulated across the sector. Activity was expected to continue rising in the year ahead. At the same time, the survey signaled stubbornly high inflationary pressures across the services economy. Both input costs and output prices increased at rates well above their respective historical averages, albeit with the former posting the slowest rise for six months. The HCOB Germany Services PMI Business Activity Index ? which is based on a single question asking how the level of business activity compares with the situation the month before - improved to 53.2 in April, after registering broadly in line with the 50.0 no-change threshold in March. The latest reading signalled a solid rate of growth that was the quickest seen since June last year. Stronger underlying demand was behind the pick-up in business activity, the survey showed. German service providers exhibited a greater willingness to expand staffing numbers during April, with workloads on the rise. Turning to business expectations, April's survey showed that services firms on balance continued to forecast a rise in activity over the year ahead. April saw the HCOB Germany Composite PMI Output Index move above the 50.0 no-change threshold for the first time in ten months. At 50.6, up from 47.7 in March, it signaled only a modest rate of growth, as a solid rise in services activity was partially offset by a further ? albeit slower - decline in manufacturing output. Powered by Commodity Insights |
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