Podcasts about services pmi

This is a recording of a live webinar recorded on May 23, 2025, starting at around 2 PM Eastern Time USA.   Ready to talk about franchising your business or help with your franchise efforts? Book a complimentary consultation with one of our consultants: https://bigskyfranchiseteam.com/consultation-routing/#callSubscribe to our other podcast: Multiply Your Success: https://www.multiplyyoursuccesspodcast.com/ Subscribe to our other podcast: Franchise Your Business: https://open.spotify.com/show/7Ff8rTBR1Oykv4dIOOBdhnLinks from the episode are here:   https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/ https://www.ismworld.org/globalassets/pub/research-and-surveys/rob/pmi/t4iff202504pmi.pdfhttps://www.ismworld.org/globalassets/pub/research-and-surveys/rob/nmi/apexrob202504svcs.pdfhttps://www.ismworld.org/globalassets/pub/research-and-surveys/rob/hospital/sprtrob202505hos.pdfhttps://tradingeconomics.com/united-states/unemployment-ratehttps://tradingeconomics.com/united-states/inflation-cpihttps://www.sca.isr.umich.edu/files/chicsr.pdfhttps://www.census.gov/econ/bfs/current/index.htmlhttps://www.uschamber.com/sbindex/summaryhttps://www.vistage.com/vistage-ceo-confidence-index/https://www.guidantfinancial.com/small-business-trends/https://www.linkedin.com/pulse/entrepreneurs-agree-now-much-better-time-startups-than-bkjie/?trackingId=1DQPHtzvzHEEIgElg8OyNw%3D%3DIn our latest Franchise Your Business podcast, we analyze current economic indicators and their impact on franchise development, revealing a stable economy with significant entrepreneurial interest despite mixed signals from manufacturing and consumer sentiment.Per the links provided and data sources cited in the video:• Manufacturing PMI at 48.7%, showing contraction but with improving trend compared to last year• Services PMI at 51.6% and Hospital PMI at 55%, indicating overall economic expansion• Unemployment rate steady at 4.2% with improving labor force participation• Inflation decreased to 2.3%, lowest since February 2021• Nearly 450,000 new businesses formed in April, showing strong entrepreneurial interest• Consumer sentiment dropped sharply, potentially due to recent tariff implemeABOUT BIG SKY FRANCHISE TEAM:This episode is powered by Big Sky Franchise Team. If you are ready to talk about franchising your business you can schedule your free, no-obligation, franchise consultation online at: https://bigskyfranchiseteam.com/ or by calling Big Sky Franchise Team at: 855-824-4759. The information provided in this podcast is for informational and educational purposes only and should not be considered financial, legal, or professional advice. Always consult with a qualified professional before making any business decisions. The views and opinions expressed by guests are their own and do not necessarily reflect those of the host, Big Sky Franchise Team, or our affiliates. Additionally, this podcast may feature sponsors or advertisers, but any mention of products or services does not constitute an endorsement. Please do your own research before making any purchasing or business decisions. References to external data sources, studies, statistics, or other third-party content are not claimed as our own unless explicitly stated. We do our best to provide proper credit and citation where due. If we unintentionally fail to cite or credit a source, please let us know, and we'll gladly correct it and provide the appropriate acknowledgment."

Andrew, Ben, and Tom discuss the ISM Services PMI, the German chancellor election, and earnings updates.For information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure

APAC stocks were mostly higher but with gains capped following disappointing Chinese Caixin Services PMI.European equity futures indicate a slightly lower open with Euro Stoxx 50 future down 0.1% after the cash market finished flat on Monday.DXY failed to hold above the 100 mark, EUR/USD sits on a 1.13 handle, USD/JPY was unable to maintain its footing above 144.Crude futures have clawed back nearly all the losses seen in reaction to the weekend's OPEC+ output hike.Looking ahead, highlights include EZ PMI (Final), US International Trade, Canadian Exports/Imports, NZ HLFS Unemployment Rate, EIA STEO, BoE's Breeden, Supply from Germany & US.Earnings from AMD, Supermicro, Rivian, Tempus AI, Celsius, Datadog, Constellation Energy, Fresenius Medical Care, Zalando, Continental, UniCredit, Intesa Sanpaolo & Ferrari.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Join OANDA Senior Market Analysts & podcast guest Nick Syiek (TraderNick) as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. The content produced on this site is for general information purposes only and should not be construed to be advice, invitation, inducement, offer, recommendation or solicitation for investment or disinvestment in any financial instrument. Opinions expressed herein are those of the authors and not necessarily those of OANDA or any of its affiliates, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, please access the RSS feed or contact us at info@marketpulse.com. © 2023 OANDA Business Information & Services Inc.

Join OANDA Senior Market Analysts & podcast guest Nick Syiek (TraderNick) as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. The content produced on this site is for general information purposes only and should not be construed to be advice, invitation, inducement, offer, recommendation or solicitation for investment or disinvestment in any financial instrument. Opinions expressed herein are those of the authors and not necessarily those of OANDA or any of its affiliates, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, please access the RSS feed or contact us at info@marketpulse.com. © 2023 OANDA Business Information & Services Inc.

Market Updates and Dividend Strategies: October 3rd In this episode of Dividend Cafe, Brian Szytel provides a market update from New York City, noting a decrease in the Dow and S&P and a slight increase in the 10-year yield. Key economic indicators include above-expectation initial jobless claims and a positive Services PMI. Dividend reinvestment strategies are discussed, highlighting customization based on client needs. The episode also examines the relative performance of the US dollar amid geopolitical tensions and global monetary policies, emphasizing its role as a safe haven in times of unrest. 00:00 Introduction and Market Overview 00:31 Economic Indicators and Jobless Claims 01:23 Dividends and Portfolio Management 02:29 Currency and Dollar Dynamics 04:20 Conclusion and Final Thoughts Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Market Minutes Recap - Market Update (Perspectives on the Economic Calendar and Recent Market Volatility) In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on recent market volatility and its implications for investors. Our panel shares predictions on earnings season and insights on the fragility of the market and the outsized reactions to events in recent years. Speakers: Brian Pietrangelo, Managing Director of Investment Strategy George Mateyo, Chief Investment Officer Stephen Hoedt, Head of Equities 01:33 – Remarks on the economic calendar, Services PMI increase in July economic activity, and update on Initial Unemployment claims 02:40 – Comments on Monday's market volatility, rebound through the rest of the week, and what it means for investors for the near-future 13:20 – Predictions for Q2 earnings season and what investors should know about the sensitivity in the markets 17:43 – Recommendations of what investors should do about spikes in market volatility and what long-term investing principles applyAdditional ResourcesKey Questions: "You're Killin' Me Smalls!" Will Small Caps Ever Outperform Again | Key Private Bank Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletterEconomic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

Wall Street closed lower on Tuesday as a morning rally eased in the last hour of trade to see the key indices post slight losses as investors continue to assess second quarter earnings reports. 2 of the magnificent 7, Tesla and Alphabet, released results after the closing bell on Tuesday with Alphabet reporting better-than-expected results while Tesla saw its profit tumble 45% on easing EV demand. Investors are digesting the combination of results, economic data and US political developments at present which is likely to continue driving investor moves for some time to come.UPS shares fell 12% on Tuesday after the global shipping and logistics service provider released results that fell short of expectations on both the top and bottom lines, while General Motors beat expectations for Q2, however, shares in the automaking giant declined 6.4% on Tuesday as the company delayed plans for its electric and autonomous vehicles.Investors grew wary of tech valuations late last week, prompting a mass sell-off in the high growth sector, in favour of opportunities in the small cap space.In Europe overnight, markets closed mixed as investors continued assessing earnings reports from companies across the region. The STOXX 600 rose 0.13%, while Germany's DAX added 0.8%, the French CAC fell 0.31% and, in the UK, the FTSE100 ended the day down 0.38%.Across the Asia markets on Tuesday is was a mixed session with Japan's Nikkei adding 0.3% while Hong Kong's Hang Seng fell 0.94%, and China's CSI index fell 2.14%.Locally on Tuesday, the ASX has had a positive start to the week as investors looked for opportunities in the small cap space while also buying back into the AI-driven tech sector. Locally on Tuesday the ASX200 rose 0.5% driven by the tech, healthcare, industrials and consumer discretionary sectors posting gains over 1% while energy stocks tumbled 2% on the sliding price of key commodities.Woodside shares slipped on Tuesday after the mining giant released second quarter results including quarterly production down 1% on Q1 due to planned maintenance activities, weather impacts and unplanned outages at Wheatstone and Julimar. Quarterly revenue rose 2% on Q1 though to $3.033bn, and Woodside maintained full year guidance. Investors may have been hitting the sell button yesterday after Woodside increased total estimated costs of the Scarborough Energy project by 4% to US$12.5bn.What to watch today:Ahead of the midweek trading session here in Australia the SPI futures are anticipating the ASX to open Wednesday's session up 0.14% extending on yesterday's rally ahead of the release of Judo Bank Manufacturing and Services PMI flash data for July out this morning.On the commodities front this morning, oil is trading 1.53% lower at US$77.20/barrel, gold is up 0.35% at US$2404/ounce and iron ore is down 0.3% at US$108.16/tonne.AU$1.00 is buying US$0.66, 102.98 Japanese Yen, 51.33 British Pence and NZ$1.11.Trading Ideas:Bell Potter has downgraded the rating on DroneShield (ASX:DRO) from a buy to a hold and have increased the 12-month price target on the counter drone technology company from $1 to $1.60 noting all eyes are on H2 for DroneShield. Bell Potter sees the bullish long-term view of DroneShield remains unchanged, however, at its current valuation, DRO will attract increased scrutiny over its short-term performance and future contract announcements thus the analyst anticipates continued share price volatility.And Trading Central has identified a bullish signal on Centuria Capital (ASX:CNI) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of $1.69 to the range of $1.95 to $2.01 according to standard principles of technical analysis.

US equity futures were boosted after-hours following better-than-expected earnings from Apple (+6%) which announced an additional USD 110bln buyback.APAC stocks took impetus from Wall St where equities extended on post-FOMC gains; Hang Seng extended its rally after having recently entered a bull market; Japan and Mainland China were closed.DXY was lacklustre with markets now awaiting key US jobs data; USD/JPY continued to decline and printed fresh intervention lows beneath the 153.00 handle.European equity futures indicate a positive open with Euro Stoxx 50 futures up 0.2% after the cash market closed down 0.6% on Thursday.Looking ahead, highlights include EZ Unemployment Rate, UK Services & Composite Final PMIs, US NFP, Services PMI & ISM Non-Manufacturing, Norges Bank Policy Announcement, Comments from Norges Bank Chair Bache.Earnings from Intesa Sanpaolo, Societe Generale, Credit Agricole & Daimler Truck.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities entirely in the green; US equity futures are mixed ahead of US NFPDollar is slightly softer, USD/JPY dips lower to around 153.00Bonds are mixed but remain rangebound ahead of today's key eventsCrude trades within a tight range, XAU flat and base metals mostly firmerLooking ahead, US NFP, Services PMI & ISM Non-Manufacturing, Comments from Fed's Goolsbee & WilliamsRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

ASX 200 has risen 34 points to 7684 (+0.5%) as the market waits for US earnings. Banks leading the charge higher with the Big Bank Basket up to $202.84 (+1.3%). CBA up 1.5%, WBC up 0.9% and MQG gaining 1.2% with insurers slightly higher. REITs better with GMG up 0.8%, SCG up 1.9%. Healthcare better again, with CSL up 1.3% and RHC up 2.9%, bid rumours from WES. Industrials firmed and tech better, with the All-Tech Index up 1.2%. Some slippage in spots as TLS down 0.3%, and BXB falling 6.3% on a 3Q trading update. Resources eased with iron ore stocks holding, but gold miners fell as bullion cracked. NST down 3.5%, NEM off 4.6% and EVN off 1.5%. Lithium slid a little, PLS down 1.3%. Oil and gas holding just, WDS off 0.7%. In corporate news, SVW up 2.0% as it moved to 82.4% of BLD, LIC announced lower settlements falling 13.5%. SHV off 9.5% on wet weather and soft conditions. PLT up 4.8% on revenue numbers and WBC gained 0.9% despite a $136m charge due to reporting changes. In economic news, Australia's Services PMI dips to a 2-month low of 54.2 in April. Asian markets mixed again, Japan up 0.1%, China down 0.6% and HK up 1.5%. 10-year yield easing to 4.27%. European markets opening up around 0.5%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.Ready to invest in yourself? Join the Marcus Today community.

Two days ago we were telling you about Ireland's manufacturing sector being in a slump. Today though we can report that the services sector is enjoying a minimum Boom. According to the AIB services PMI survey, output in the country's most important sector is at a 8 month high with employment in services which includes technology as well as hospitality expanding - even amid an economy at full employment. David McNamara is the Chief Economist with AIB and discussed the results of the survey with Joe.

This week's episode discusses the all-time highs Gold, Bitcoin, and the U.S. markets that are currently experiencing. We will also touch on the Bank of Canada's interest rate decisions, delve into the growth of Australia's gross domestic product, and analyze the Services PMI of the United States. Welcome to our weekly dive into the heart of global finance! Join Jess and Urs as they dissect the pulse of the world economy, bringing you insights into the most pressing topics and trends. Each discussion offers a unique perspective on the economic landscape, shedding light on the challenges and opportunities that shape our interconnected world. Whether you're a seasoned economist or a curious observer, our journey through the intricacies of macroeconomics and global finance promises to be enlightening and thought-provoking.  Don't miss out on the chance to deepen your understanding of the worldwide economy. Hit subscribe and join us every week as we navigate the complexities of global finance together! Contact WHVP:  Website: ⁠https://whvp.ch/⁠  Email: ⁠info@whvp.ch⁠  Telephone: +41 44 315 77 77  About WHVP:  WHVP is an independent asset manager specialized in managing the funds of private clients. We are registered with the SEC in the U.S. and are located in Zurich, Switzerland. We are associated with several first-class private banks in Switzerland, Liechtenstein, and Austria, which act as custodian banks for our client's accounts. Our asset management principles are guided by conservative, long-term-oriented capital preservation strategies. Our focus is personalized service. We structure a portfolio that will be insulated against U.S. Dollar depreciation yet capitalize on overseas investment opportunities.    Disclaimer:  All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.  

ISM non-mfg. PMI awaited ahead of Powell's testimony and NFP. Yen slidepauses after accelerating Tokyo CPIs. Aussie and kiwi slip as Chinaannounces ambitious growth target. Equities retreat ahead of key events,gold and bitcoin rally.Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital. *T&Cs apply.Please consider our Risk Disclosure: https://www.xm.com/goto/risk/enRisk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warningReceive your daily market and forex news analysis directly from experienced forex and market news analysts! Tune in here to stay updated on a daily basis: https://www.xm.com/weekly-forex-review-and-outlookIn-depth forex news analysis on all major currencies, such as EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD.

In the wake of a historic trading session, all frontline indexes reached unprecedented heights, marking a momentous occasion for the financial markets. Bank Nifty, notably, not only cleared its underperformance but also achieved a fresh record high, reflecting a positive turn of events. However, global markets experienced a slight setback, with U.S. markets exhibiting a pullback after five consecutive weeks of gains. The NASDAQ bore the brunt of this, witnessing a 0.8% decline. On a brighter note, crude oil prices saw a decrease, with Brent futures trading around half a percent lower, hovering near the $78 per barrel mark. In the Indian markets, the standout performers were oil and gas stocks, banking stocks, and capital goods measures, contributing to the overall robust performance. Meanwhile, the Pharma and Media sectors underperformed. Looking ahead, investors are keenly watching the Services PMI data expected today and await the Reserve Bank of India's policy meet outcome verdict scheduled for December 8th. The current positive sentiment in Indian markets is attributed to the clear verdict from state election polls. As the day unfolds, market participants are eager to see if the rally will persist, especially with expectations of a flat start influenced by both Asian markets and the GIFT  NIFTY.

Singapore stocks opened weaker today following overnight losses on global markets. In early trade, the Straits Times Index (STI) headed down 0.1 per cent to 3,080.87 points after 19.5 million securities changed hands in the broader market. Meanwhile, international headlines are in focus today with investors mulling a private sector survey which showed China's services activity expanded at a quicker pace in November.  Also in focus today – Nvidia's CEO Jensen Huang's comments that the firm will build a network of semiconductor plants in Japan, as well as US consumer spending outlook and gold prices.  On Market View, Drive Time' finance presenter Chua Tian Tian unpacked the developments with Ken Shih, Head of Wealth Management, Greater China, SAXO Markets. See omnystudio.com/listener for privacy information.

China's Caixin services PMI eased to 53.9 in June but remained comfortably above the 50-point benchmark indicating expansion in activity. Meanwhile, the Caixin manufacturing PMI came in at 50.5 in June. What are the signals behind these indicators? What's the current state of the Chinese economy (00:41)? For the first time, Argentina has used the Chinese currency to settle part of its debt with the International Monetary Fund. Why does Argentina want to deepen the use of the yuan and reduce dependence on the US dollar (23:20)?

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news climate changes are making the reading of recent economic signals harder because the whole context is changing.In the week ahead, the non-farm payrolls report and FOMC Minutes will be taking the headlines in the United States. This will be followed by the release of ISM Manufacturing and Services PMI, factory orders, and foreign trade data.And there will be PMI survey results released for India, South Korea, and Canada among others. We will get inflation rates for Indonesia, Switzerland, South Korea, the Philippines, Turkey, and Mexico. And on Tuesday the RBA interest rate decision.We should note that the iconic American holiday, July 4, is on a Tuesday local time, Wednesday NZT. Financial markets will be open Monday local time. But it is unlikely that volumes will be high because many people will make it an extended long weekend. In fact, through the end of August and until Labor Day in the US, summer holiday-taking is pervasive. But remember, Americans usually don't have more than two or three weeks annual vacation from their job.But it isn't much fun this year in many places, especially in the West, as a heat wave grips these regions.Globally, weather events are going to be driving economic events as extremes become more common. That makes thinking about the past as an indicator of the future less a valuable benchmark. New situations that require adaption can create opportunities as well as unknowable risks. And the big one is the demographic risks. The pressures for livable conditions then creates political risks. Yes, it will likely be that New Zealand is in a relatively favourable position but that won't make it 'better than the past' - just less-worse. We have suffered unbearable wet conditions in many parts of the country. We could be in for a sharp and an uncomfortable dry period over the rest of 2023. Adaption is going to require fast planning and preparation.In northern China, the rolling heat wave is extending and will be around until at least Tuesday with temperatures near or above 40oC. The south of the country is getting heavy rains. Both are raising risks for harvests.China released its official PMIs for June on Friday and they make concerning reading. Factory activity stayed in a mild contraction but it is now three months in a row it has contracted. Services is expanding but at their slowest pace in six months. Still, neither is severe, only lackluster. The Caixin versions will come on Monday. The private Caixin versions have recently tended to reflect slightly better results over the past few months.The Chinese yuan is now at its weakest since the end of 2022 and if it beaches that, it will be its weakest since 2007. The PBoC seems likely to intervene soon.Japanese industrial production which has been soft-to-flat for the prior six months, took a sharp turn higher in May, confirming other signals that Japan seems to have turned a corner. Some of that might have been inventory build, but most components seem to be going in the right way. None of this is helping their currency however and central bank intervention seems likely there too as the yen devaluation gathers steam as well.The US released its May PCE inflation result over the weekend and it was another small dip, up +3.8% from a year ago and lower than the April +4.3% rise. If there is a hesitation it is that the pace was above that in the April-to-May period. But markets cheered the result and equities surged. But bond markets aren't signaling they think the Fed will relax just yet, especially as it signaled two more rate hikes at least in 2023. Markets have a July 26 +25 bps fully priced in now.We should also note that while American personal incomes keep growing at an inflation-equalling pace and better than expected, consumer spending did dip in May according to this update and that was less than expected.Meanwhile heartland manufacturing in the Midwest Chicago region is suffering with their PMI retreating faster than expected. It isn't a positive signal. It did come in in June less-worse than the May but the recovery was timid and much less than anticipated.However, the final June University of Michigan survey of consumer sentiment is rising and by more than expected, capping four straight months of gains. But to be fair it is still well below its long term average of positivity. It looks good because the base of a year ago was so weak.The first estimates of the US non-farm payrolls are coming through and the expectation is that they will rise another +223,000 to keep the labour force-led expansion going. But remember these forecasts greatly underestimated the gains in May which came in at +339,000.A Canadian business outlook survey run by their central bank found businesses reporting that their indicators of domestic demand have moved up compared with a year ago as uncertainty about the path of future interest rates and their concerns of a recession fade.Inflation in the EU came in at 5.5% in June, down from 6.1% in May, so they are on the right track even if more progress needs to be seen by the ECB before they ease back on their policy interest rate hikes. Food prices are the main pressure point now. Energy prices are the key restraining factor.But German retail sales can't hold on to inflation, with a shrinkage on a volume/real basis. But at least their labour market is still hanging in there (just).In Australia, as we signaled recently, the latest Commonwealth government accounts are revealing surging surpluses. They reported a monster +AU$24 bln surplus in May alone. Their financial year ends in June. Now they expect the full year surplus to be far bigger than the +AU$4.2 billion forecast contained in the budget seven weeks ago. Probably an all-time record. And big surpluses are now projected for the 2023/24 year as well. It is raining revenue for the Australian government as both company and personal taxes rose to new highs.But it may not last. China's leading steel makers warned on Friday that their industry faces a challenging second half as demand disappoints, profitability lags and pressure to cut costs mounts in the world's top producer. Most of their steel is made from Australian and Brazilian iron ore.And we should note that 22 key countries are supporting the proposal at the IMO for a climate-change levy on ships that use fossil fuels. But overnight China started a campaign to encourage developing countries to boycott the effort.The UST 10yr yield will start today at 3.84% and unchanged from Saturday. Their key 2-10 yield curve inversion is holding at -105 bps. Their 1-5 curve is little-changed at -127 bps. But their 3 mth-10yr curve is less inverted, now by -135 bps. The Australian 10 year bond yield is now at 4.01% and up +1 bp. The China 10 year bond rate is unchanged at 2.69%. And the NZ Government 10 year bond rate is down -1 bp at 4.67% but still near its highest since early March 2023. Recall a week ago it was at 4.60%.The price of gold will start today at US$1920/oz and unchanged from Saturday, and a week ago.And oil prices are unchanged too and still at just over US$70.50/bbl in the US. The international Brent price is a tad softer at just on US$75/bbl.The Kiwi dollar starts today at 61.4 USc and unchanged from Saturday. Against the Aussie we are still at 92.2 AUc. Against the euro we are similarly little-changed at 56.3 euro cents. That means the TWI-5 is still at 69.8 and exactly where we were a week ago.The bitcoin price has risen slightly from this time Saturday and now is at US$30,495 which is a +0.5% rise although it did manage to finish June above NZ$50,000 for the first time since April 2022. Volatility over the past 24 hours has been low at just under +/- 0.8%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

DoubleLine Portfolio Managers Jeff Mayberry and Samuel Lau cover the June 5-9 results for stocks, including a rebound for regional banks (2:41); fixed income (4:11), a bit of pressure on duration, gains for emerging market debt and bank loans; commodities, their first positive week in about two months (8:50). It was a quiet week for macro news (13:29). One of the few notable prints was a sluggish ISM Services PMI report. The May survey came in at a barely expansionary 50.3 vs. a consensus expectation of 52.4. Samuel Lau notes that the Services PMI has been trending lower in recent months. Next week promises a busier news calendar (16:40). With the futures market pricing 30-70 odds of a hike or pause in the federal funds rate, Jeff Mayberry notes the May CPI report due Tuesday June 13 will likely be a market-moving event. After the release of the May PPI on Wednesday, the Federal Open Market Committee, the rate-setting body of the Federal Reserve, meets.

Services and composite output data for May were released, and both remained around the same level that was seen in April. The Services PMI showed that the sector is still well into an expansive phase at 55.2 which pushed the composite number for services and manufacturing combined to 54, from 53.9 previously. As part of the data, services firms noted strong input costs from wages which have been growing for the past three months. This will continue to add pressure to core inflation and will likely lead the Bank of England to continue to hike interest rates. The nature of wage increases is that once workers, or their representatives, claim a wage increase, based upon headline inflation at the time that negotiations begin, there is a lag before that increase is paid. In the meantime, as is the case currently, headline inflation has begun to fall making the pay award appear to be more generous. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

Economic activity in the services sector expanded in April for the fourth consecutive month as the Services PMI® registered 51.9 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 34 of the last 35 months, with the lone contraction in December.Anthony Nieves, Committee Chair for the ISM's Services Report on Business® discusses the Services sectors in detail. Only on Manufacturing Talk Radio. Learn more about your ad choices. Visit megaphone.fm/adchoices

O secretário do Tesouro Nacional, Rogério Ceron, argumenta que a viabilidade do novo arcabouço fiscal do governo não depende do aumento da arrecadação de receitas. O ponto mais importante do marco é garantir um horizonte de sustentabilidade das contas públicas. Membros do PSB de Geraldo Alckmin têm intensificado conversas com Arthur Lira (PP-AL) para integrar o bloco que o presidente da Câmara pretende formar com União Brasil. Services PMI da Espanha e Itália surpreendem positivamente. Factory Orders da Alemanha tem leitura acima do esperado. RBNZ eleva a taxa de juros em 50 pontos base ante expectativa de alta de 25 pontos base. Podcast Direto ao Ponto do Banco Modal com as principais notícias de Brasil e Internacional ao longo do overnight. Por Felipe Sichel, economista-chefe do Banco Modal.

Futures opened last night about even give or take 20 points, and stayed that way until early morning when we began moving lower and then notably so pointing to a down -150 point open. We opened down about -170 points but were down north of -250 after the first 20 minutes of trading. Around 1145 EST we had slightly better than expected PMI data released and fully recovered the morning losses trading sideways with a small upwards bias the remainder of the trading day. We closed positive on the Dow but slightly negative on both the SP500 and Nasdaq. Dow: +104.41 (+.31%) S&P: -.07% Nasdaq: -.27% 10-Year Treasury Yield: 3.46%, down -5.6bps on the day Top-performing sector: Industrials up +.65% Bottom-performing sector: Communication Services -.69% WTI Crude Oil: $80.16/barrel, down -1.79% Key Economic Point of the Day: A flash read today on US Composite PMI data showed a slight improvement over December, although still handily in contraction territory and the slowest since last October at 46.6 from 45 the month prior. Manufacturing PMI was little changed at 46.8 up from 46.2 with Services PMI at 46.6 from 44.7. Could the data in the chart below pick back up above 50 into positive territory before we end up registering an official recession this year, of course, but that economic margin is about as thin as it gets right now. For what its worth, this PMI data point is what led to markets recovering after the mornings initial sell off and was a ‘less bad' read following December – not so bad that we fear recession is immanent, but cool enough to back the ‘Fed will pause soon' narrative. Interestingly enough, the flash PMI read today from the Eurozone actually showed it barely bump back into expansion territory from 49.3 last month to 50.2, although not sure I would call that robust. Links mentioned in this episode: [TheDCToday.com] https://bahnsen.co/3RbWe5R DividendCafe.com TheBahnsenGroup.com

This is our first podcast in 2023. FXCM senior market specialists Russ and Nik discuss: Friday's NFP. Job data shows deceleration in job growth, moderation in wages, participation rate ticked up. Services PMI. PMI shows contraction. US is a service-based economy. First time since June 2020 it contracted. Factory Orders biggest decline since June 2020. FOMC minutes were hawkish, no member sees rate cut this year. December CPI is released on Thursday. Most likely moderated, but all eyes are on the release. Q4 earning season kicks off on Friday with the Banks and Delta. China has opened its borders–oil has reacted and the general mood has improved because of the opening.

Fed raised by 50bps. Less aggressive, but higher TR upped to 5.1 (4.6). Fed chair was hawkish. ECB even more hawkish than Fed. 50bps ongoing and QT announced. Hawkish ECB is a more convincing case — more ground to cover, but more difficult to deliver because of the fractious nature of the bank. BoE delivered 50 bps and was the least hawkish of the three. There was a three-way split: 0, 50bps, 75bps. There is a disconnect between the banks and the market. Market's expect cuts in H2 2023. Fed dismisses this. Data is confusing and ambiguous. Services PMI beat to the upside, but industrial production and retail sales were both down (weak). CPI also showed signs of moderating. This week: BoJ — some reports suggesting an announcement regarding the 2% inflation target. CPI out as well (Fri). CPI Canada - Wed. US PCE data on Friday. May take lead from CPI and moderate. Final GDP on Thurs q/q 2.9% (US), -0.2% (UK).

In today's Breakfast Brief, we unpack the latest US economic data reflecting a hotter than expected labour market, which is dampening hopes that Fed rate policy may not be dialed back so soon.See omnystudio.com/listener for privacy information.

Noticiário discute tópicos do waiver de gastos para 2023, estimando atualmente BRL 200bi para manter Auxílio Brasil em patamar atual, dar aumento real para salário mínimo e recompor programas sociais. Discussão sobre orçamento com equipe de transição começará hoje. Equipe do presidente-eleito Lula dá mais sinais de espaço para negociar manutenção do Orçamento Secreto. Bloqueios em rodovias caíram de 126 para 106 segundo a PRF ontem. Services PMI do UK tem leitura acima do flash. Sunak indica windfall tax sobre setor de óleo e gás mantido por cinco anos. Caixin PMI tem leitura abaixo do esperado. Número de casos de COVID volta a crescer na China. Mercado reage fortemente a Powell. Podcast Direto ao Ponto do Banco Modal com as principais notícias de Brasil e Internacional ao longo do overnight. Por Felipe Sichel, economista-chefe do Banco Modal.

On October 24th, 2022, Steve Grzanich shares today's potential market drivers: September’s Chicago Fed national activity index S&P manufacturing PMI numbers Services PMI numbers Earnings from Hyundai, Discover, and more

Global turbulence, since the outbreak of the Russia-Ukraine war, led to a V-shaped market trajectory in the first half of the current fiscal. In three months to June, investors went looking for cover as equities crashed in the backdrop decadal high global inflation and disrupted supply chains. However, from July to September, Indian equities bounced back on the back of steady economic growth despite interest rate hikes by the Reserve Bank of India, and the return of foreign portfolio investors. Joseph Thomas, Head of Research, Emkay Wealth Management says, H1FY23 was challenging for markets. Impact of Ukraine crisis, global inflation key dampeners. Hard money policy by US Fed, ECB, RBI impacted liquidity. The benchmark S&P BSE Sensex and the Nifty50 indices fell about 2% each between April and September this fiscal year. In the broader markets, the small-caps suffered sharper blows, with the Nifty SmallCap index plunging around 9.5%. On the contrary, mid-caps were the only rewarding segment with the Nifty MidCap index climbing 3% during the period. Among individual stocks, Adani Power, and Mazagon Dock Shipbuilders more-than-doubled investors' wealth in six months, as they surged over 100%. On the downside, Brightcom Group, Tanla Platforms and TV18 Broadcast cracked up to 65%. Going forward, analysts expect India Inc's corporate profitability to take beating in the second half of the fiscal year amid sustained monetary tightening.  Joseph Thomas of Emkay Wealth Management says tight monetary policy, dwindling liquidity to impact markets in H2FY23. Increased cost of borrowing will hit India Inc. Corporate profitability may be under threat. ‘Buy the dips' to build long-term portfolio.  That said, the near-term texture of the markets remains uncertain, with global headwinds weighing on the sentiment. In this holiday-truncated week, a slew of macro-economic data will guide equities including September GST collection data, Manufacturing and Services PMI data, and auto sales data. That apart, investors may see fund-rotation ahead of the Q2 results season. 

Wednesday 24th August 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 It's that time of the month when PMI reads give us a global snapshot of how everyone is doling relative to each other. NAB's Ray Attrill says the US provided the biggest surprise with a sharp fall in the services number, moving further into contraction territory, with a read of 44.1 – a 27 month low. That's somewhat worse than services numbers in Europe, and well below the UK, which continues to surprise, with a Services PMI read of 52.5 (actually growing). The bad news from the US was compounded by a fall in the Richmond Fed manufacturing index (also moving into contraction) and a further slowdown in new home prices. But Europe's future continues to be dominated with higher fuel costs, which show no signs of settling down.

Recession Indicator triggered as business activity contracts, most since 2009 excluding the lockdown. In the US service sector in early July S&P Global Services PMI dropped to 47 from 52.7 in June. This reading came in much weaker than the market expectation of 52.6. Economic conditions show signs of weakening while CBs are tightening.

This week we cover US Manufacturing PMI, the NAHB housing market index, EU flash PMI's, Australian MFG and Services PMI's, and the start of the US and Australian reporting season. This market highlight is proudly brought to you by Milford https://milfordasset.com.au/ Join the XY platform: App Store: http://co.xyadviser.com/xyistore Google Play: http://co.xyadviser.com/xygplay Desktop: https://www.xyadviser.com/ General Disclaimer – https://www.xyadviser.com/disclaimer/

Jornais destacam demissão do presidente da Petrobras e movimentos do governo tanto sobre o Conselho de Administração da empresa, como sobre a política de preços. Relator do projeto do ICMS indica mudanças no texto para facilitar tramitação. Lula e Alckmin devem buscar interlocução com empresários e mercado financeiro. Services PMI decepciona no Reino Unido. Manufacturing PMI tem leitura acima do esperado na Alemanha. Securities Journal indica possível emissão de títulos publicos na China. Podcast Direto ao Ponto do Banco Digital Modalmais com as principais notícias de Brasil e Internacional ao longo do overnight.

Activity in China's services sector falls to the weakest since February 2020; investigation launched into deadly building collapse; and Beijing reduces quarantine times for international travelers, close contacts of Covid patients. Are you a big fan of our shows? Then please give our podcast account, China Business Insider, a 5-star rating on Spotify, Apple, or wherever you listen to podcasts!

Tony Conley wraps up his eighteenth episode with a three-part conversation with Nancy LeMaster, MBA, Chair of the Institute for Supply Management® (ISM®) Hospital Business Survey Committee: "The Hospital PMI®" ISM Report On Business® Leading the Industry with Reliable Economic Indicators The ISM® Report On Business® – Manufacturing (PMI®) and Services (PMI®) – are two of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. The reports are issued by the ISM Manufacturing and Services business survey committees. The ISM® Report On Business® continues to be consistent and accurate in indicating the direction of the overall economy, in addition to the manufacturing and services sectors. The reports are available on the first and third business day of each month. ISM's Hospital (PMI®) will be available on the fifth business day of each month. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN's YouTube: www.youtube.com/channel/UCqNX… » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/ Thank you to Benjamin Robinson and Motor City Skyline's music

Tony Conley wraps up his seventeenth episode with a three-part conversation with Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, chair for the Services PMI™ Business Survey Committee for the Institute for Supply Management with the Services PMI™ Report On Business. ISM Report On Business® Leading the Industry with Reliable Economic Indicators The ISM® Report On Business® – Manufacturing (PMI®) and Services (PMI®) – are two of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. The reports are issued by the ISM Manufacturing and Services business survey committees. The ISM® Report On Business® continues to be consistent and accurate in indicating the direction of the overall economy, in addition to the manufacturing and services sectors. The reports are available on the first and third business day of each month. ISM's Hospital (PMI®) will be available on the fifth business day of each month. » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN's YouTube: www.youtube.com/channel/UCqNX… » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/ Thank you to Benjamin Robinson and Motor City Skyline's music

Markets have staged a strong rebound after frontline indices Nifty 50 and S&P BSE Sensex hit bottom on March 7. With benchmarks recovering 10 per cent since March 7, what has changed in the past three weeks?   The Ukraine war, which led to dampening of investor sentiment, has still not reached a peaceful resolution. However, US President Joe Biden's largest-ever release from the US Strategic Petroleum Reserve has calmed the oil markets from multi-year highs. Lower crude prices coupled with Russia's offer of discounted crude oil prices at $35 a barrel to India are insulting markets from the worst.   Apart from that, analysts see in-line fourth quarter earnings for FY22 help retreat investors' sentiment.   Large part of the sell-off in India was driven by massive FII selling since October last year. However, analysts believe that the worst FII outflows have peaked for Indian markets. Neeraj Chadawar of Axis Securities, for instance, expects FII inflows to resume in the next two months as valuations seem favourable.  To sum it up, panic among investors seems to be easing but the markets may not be completely out of the woods. The near-to-medium term sentiment will continue to remain volatile as the Ukraine-Russia crisis is yet to reach a definite solution and supply-shortage induced inflation is yet to peak. That said, this week's market trajectory will be guided by a host of domestic and global economic data points.   India will release its manufacturing PMI data for March on April 4 and Services PMI on April 6. Globally, Euro zone, UK, USA and Russia will roll out their respective Composite and Services PMI data for March on April 5. Moreover, Euro zone's retail sales for March are due to be released on April 7, and Russia's Q4FY22 GDP data will be released on April 8. Lastly, the Reserve Bank of India will announce its interest rate decision on April 8. Shivam Bajaj of Avener Capital believes that the central bank will maintain status quo and focus on growth at the upcoming Monetary Policy Committee meeting.  Watch video

The Ukraine-Russia conflict is creating havoc not just on field but across financial markets as well. Equities, including Russian stocks, have cracked on the bourses and energy prices are flaring up on fears of choked supply chains. While this may have already eroded billions of dollars of investor wealth, the crisis is far from over.      Global index providers MSCI and FTSE, for instance, are proposing removal of Russia from their indices. Earlier this week, MSCI sought fund managers' feedback on the current level of accessibility and investability of the Russian equity market. It has also sought feedback from market participants on the appropriate treatment of the Russian equity market within MSCI indices. This includes the potential reclassification of the MSCI Russia Indexes from Emerging Markets to Standalone Markets status. Previously, FTSE had issued a note highlighting concerns around Russia. Early estimates suggest that removal of Russia from these two indices may lead to billions of dollars of outflows from the country, with some portion getting into other emerging markets.   A back of the envelop calculation by IIFL Institutional Equities said that if these FPI investments are directed towards India, there could be aggregate inflow of over two billion dollars. This is because India's weightage in the MSCI EM and other widely-tracked indices will edge higher. As of Feb 25th, Russia's MSCI EM weightage stood at 2.66%, eighth highest. Meanwhile, China and Taiwan top the list with weightage 29.55% and 15.86%. India has third weightage at 12.25%. To be sure, these calculations are based on last week's weightages. The current inflows, however, may be lower than this as the on-going market rout might have reduced Russia's weightage. Edelweiss Securities expects the inflows to be distributed in index heavyweights like Reliance Industries, Infosys, HDFC, ICICI Bank and TCS.   Therefore, even is MSCI and FTSE decide to remove Russia from their global coverage, the step may only restrict FPI selling in India. Investors will, therefore, keep a close watch on this development on Thursday. That apart, news around Ukraine-Russia conflict, global energy prices, weekly F&O expiry, Services PMI data and stock-specific move will sway the indices today. Watch video

Pacheco pauta para semana que vem discussão de medidas de combustíveis. Bancada amazonense deve ter rodada de conversas com equipe econômica na semana que vem sobre IPI. Services PMI da Espanha e Itália surpreendem positivamente. Agência de inteligência britânica indica que avanço sobre Kiev tem surtido pouco efeito por enquanto. Podcast Direto ao Ponto do Banco Digital Modalmais com as principais notícias de Brasil e Internacional ao longo do overnight. Por Felipe Sichel, estrategista modalmais.

Ala do PSDB tenta convencer Eduardo Leite a permanecer no partido e acredita que ele possa ser candidato apesar das prévias. Projetos de combustíveis devem ser votados na quarta-feira no senado. Kremlin indica que não há planos concretos para encontro de Biden e Putin. Tropas russas permanecerão em Belarus. Services PMI surpreendem na leitura flash no Reino Unido e Zona do Euro. Loan Prime Rate mantida inalterada na China. Podcast Direto ao Ponto do Banco Digital Modalmais com as principais notícias de Brasil e Internacional ao longo do overnight. Por Felipe Sichel, estrategista modalmais.

Bond market investors were in for a rude shock as the Union Budget pegged the budgeted gross market borrowing number for the next fiscal at Rs 14.95 trillion.   Net borrowing, meanwhile, will be Rs 11.19 trillion in 2022-23, as against Rs 7.76 trillion in this fiscal. This higher-than-expected government borrowing pushed yields on 10-year government bond to nearly 6.9 yesterday, rising to their highest level in nearly two years. The yields had risen over 2% on Tuesday and half a per cent yesterday.   Even though bond dealers pointed out that the budget documents may not have accounted for the switch with the Reserve Bank of India done on the eve of the Budget, which should lower the gross and net borrowing for the next fiscal by at least Rs 63,648 crore.   Still, the numbers are much higher than the market expectations that ranged from Rs 10 trillion to Rs 13 trillion. We spoke to Joydep Sen, an independent debt market analyst, to understand if there's more to the yield spike than the govt's borrowing plan. He said:  Higher fiscal deficit, govt borrowing implies more bond supply This can push interest rates up Budget's silence on Global Bond indices has unnerved markets FM's categorical decline on the same also soured bond market mood   Markets were expecting some policy statement on inclusion of India's sovereign bonds in global bond indices. A green flag to the move could have led to an inflow of roughly around $20-40 billion per year, according to analysts' estimates, and would have provided the much-needed demand support for G-Securities.   What's also worrying investors is that the high borrowing number will also put the RBI's actions in spotlight as it juggles between the role of a monetary authority and banker to the government.   The bond yields have pushed up sharply already in response to RBI's liquidity withdrawal. And now, as no new avenue for foreign investors were announced in the budget, the yields could zoom further. UBS Securities, for instance, sees the 10-year bond yield at 7.5%, which will be negative for valuations of stocks. Those at HSBC, meanwhile, are mildly bearish on India government securities amid forecasts of higher yields. In a post-Budget report, the brokerage said: “In our view, it will be difficult for the market to absorb such massive supply in the absence of support from the RBI and a time when banks may not have as much appetite for holding government bonds given normalising liquidity conditions and the improving economy. Therefore, we raise our forecasts for 10-year G-sec yields to 7.5% by Q2CY22 and 7.8% by the end of Q4CY22”   From equities' perspective, analysts are divided on the impact of such sharp yield movement on them. According to UBS, the feedthrough of fiscal math into bond yields could be negative for equity valuations, which remain expensive despite recent sell-off.   But Joydeep Sen believes, since Indian equities never had a pronounced relationship with bonds, the impact may be limited. He said: “Correlation between bonds, equities are not pronounced in India. Distinct factors drive Indian equities. Global factors can affect equities going forward.”   Against this backdrop, bond yield movements will be a key trigger for markets today. That apart, weekly F&O expiry, December quarter results, Services PMI data, and global cues will be the other indicators. Watch video

Inflationary pressures are biting into FMCG players' volume growth. Moreover, plateauing rural demand due to falling disposable, seems to have hit consumption-based companies. According to the company its revenue growth in the quarter was in double digits, while volumes were flat owing to the weaker consumption sentiment and a strong base. With muted volume growth across segments, the company expects overall consolidated revenue to be in low teens with lower margins on a yearly basis. The numbers cast a spell not just on Marico, but highlight the turmoil faced by the entire sector. According to a Business Standard report, rural demand for fast-moving consumer goods was weak in the October-December quarter on a YoY basis, with sales likely down by 8-10%. And the trend, analysts say, may continue to haunt players for a while. For one, the current inflationary pressure is due to supply-side constraints and appears to be more stubborn than usual. Besides, resurgence of fresh virus variants and ensuing restrictions are acting as one of the stumbling blocks in normalisation of supply side issues. Considering this, analysts at Centrum Broking are ‘equal-weight' on consumer goods' companies. ICICI Securities, meanwhile, is ‘neutral' on the sector as companies face margin headwinds. So, given the headwinds, are FMCG investors in for a wild ride? According to analysts at Prabhudas Lilladher, input cost scenario remains volatile for FMCG players, but margin weakness may bottom out in Q3. Besides, over 20% correction from recent highs makes select players attractive from a long-term perspective. Let's go to Suvarna Joshi, senior research analyst at Axis Securities, to know more. Vinit Bolinjkar, head of research at Ventura Securities, meanwhile, believes the govt's push towards capex-building will support rural income over the medium-term, supporting overall demand in the space. Overall, the near-term trajectory remains choppy for FMCG players amid growth concerns. However, medium-to-long term outlook remains strong on expectations of a pick-up in rural income, and easing commodity prices. As regards today, Services PMI data, stock-specific news flow, developments around the Omicron Covid-19 variant, FII activity and global sentiment will guide the market trajectory. Watch video

The frontline Sensex has bounced back nearly 1,400 points in two days, staging recovery from one of the worst bear drubbings in months.  On Thursday, the index ended at 58,461 levels, up 776 points on the BSE, lifted by healthy buying in HDFC twins, RIL, and IT stocks.  The NSE Nifty, on the other hand, is back above the 17,400-mark. Meanwhile, in the primary market, ace investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance's initial public offer closed with 79% subscription (till 6:30 pm). Among IPOs of more than Rs 5,000-crore plus, Star Health has seen one of the weakest response.   According to AK Prabhakar, who is head of research at IDBI Capital, Star Health failed to attract investor interest as the valuation seemed rich and left nothing much on the table for investors.   The IPO came at a time when fears of the Omicron Covid variant started. This, he says, may have made investors wary of investing in an insurance-related play.   That said, the IPOs of Anand Rathi Wealth and Tega Industries received healthy investor response and have already been fully subscribed.   So, will this recovery in the secondary market gain momentum going ahead? Let's find out.   Despite a 3.8 per cent fall in November, the BSE Sensex stands tall with a 19.5 per cent gain at the start of December, 2021. Over the past 11 months, market participants have negotiated many headwinds successfully such as rampant spread of a second Covid wave, boiling crude oil prices, inflationary pressures and fears of policy tightening and withdrawal of government stimulus.   Nonetheless, markets did witness minor corrections as and when these headwinds emerged along the way.   “Since the current bull-run started from the bottom in March 2020, Indian equities have paused five times (Apr'20, Aug'20, Oct'20, Feb'21 and now since Oct'21) for brief corrections before resuming the subsequent up move” Data compiled by Vinod Karki of ICICI Securities shows that in the past 18 months, the markets paused for correction five times, with the latest one starting in October 2021. However, the recovery on the bourses was swift every time, with benchmarks hitting fresh highs. So, should we expect resumption of uptrend this December?  Historically, the Sensex has delivered a positive return in five out of 10 occasions in the past 10 years, that is, since 2011. These returns ranged between 0.4 per cent and 8.2 per cent, data shows.   While developments on the Omicron variant would be key for this month's market trajectory analysts at Credit Suisse say factors like corporate earnings, interest rate decisions by the US Fed and RBI and the rupee's trajectory could determine the market trend going ahead. The brokerage further observes that earnings will be the key driver of equity returns in 2022, and investors should expect high single-digit equity returns next calendar year compared to double-digit returns in 2021. For Vinod Karki of ICICI Securities, the current phase of correction is another such pause or consolidation before the next surge begins. On Friday, global cues, FII activity, outcome of OPEC+ meeting, Services PMI data and initial public offers of Tega Industries and Anand Rathi Wealth will guide investor sentiment. < br /> Watch Video

Top headlines • Sensex slumps 765 points, Nifty ends below 17,200 • Star Health cuts IPO size after tepid subscription • Services PMI moderates in Nov as price pressures intensify • Tega Industries closes IPO with over 200 times subscription The benchmark indices ended lower on Friday as domestic investors booked profit after two days of relentless buying, and ahead of the weekend. Besides, an increase in the number of suspected Omicron-based Covid-19 cases in the country also worried investors. After two confirmed cases in Karnataka, a third one was reported in Tamil Nadu. Further, Delhi, Mumbai, Chandigarh, and Pune have also sent samples of Covid positive patients who have returned from ‘at-risk' countries for genome sequencing. That apart, the World Health Organization on Friday warned Asia-Pacific countries to boost healthcare capacity and fully vaccinate their people to prepare for a surge in Covid-19 cases. Despite travel curbs, the Omicron variant is spreading rapidly with India, Japan, Malaysia, Singapore, South Korea and Sri Lanka being the latest Asian countries to report the cases this week. Against this backdrop, the BSE Sensex ended 765 points, or 1.3 per cent, lower at 57,696 today. In intra-day trade, the index fluctuated over 1,100 points. On the NSE, the Nifty50 ended below the 17,200 mark at 17,198, down 205 points or 1.2 per cent. Power Grid (down 4 per cent) was the worst-hit large-cap on the 50-share index, followed by Reliance Industries, Kotak Bank, HDFC Life, Sun Pharma, Asian Paints, and Bharti Airtel. Stocks that capped the downside were UPL, BPCL, Indian Oil, ONGC, and L&T. These shares were up in the range of 1-2.5 per cent. Meanwhile, in the broader market, the BSE MidCap index ended flat with a negative bias but the BSE SmallCap index added 0.3 per cent. Among individual stocks, the shares of Vodafone Idea hit a fresh 52-week high of Rs 14.73 after they rallied 15 per cent on the BSE in Friday's intra-day trade. The stock has surged 32 per cent this week and crossed its 52-week high level of Rs 13.80. In the process, it has hit its highest level since June 2019. That apart, shares of Neogen Chemicals also surged 19 per cent to Rs 1,800 on the BSE in intra-day trade, gaining as much as 30 per cent in the past two trading days. Neogen's business has some seasonal drivers due to which the company tends to deliver stronger performance in the second half of the financial year (October to March), according to the company. The shares ended 16.5 per cent higher on the BSE today. Meanwhile, in the primary market, Tega Industries' initial public offering was subscribed 217 times as at 3:45 PM on the final day of the issue. The portion reserved for Non-Institutional Investors was subscribed 657 times, while that of QIB investors was subscribed 215 times. The IPO of Anand Rathi Wealth, on the other hand, has been subscribed nearly 3 times so far on Day 2 of the issue. In a separate development, Star Health is lowering the offer for sale portion of its IPO after receiving a tepid response in its subscription period, which ended yesterday, Reuters reported. The IPO of the country's largest private health insurance was subscribed just 79 per cent. Let's look at the global markets: • Asian shares reversed losses and ended higher on Friday. Japan's Nikkei closed 1 per cent higher, while South Korea's Kospi and Australia's ASX200 ended up to 0.8 per cent higher. • In Europe, the UK's FTSE100 was down 0.06 per cent in early deals, France's CAC40 was up 0.08 per cent, and Germany's DAX gained 0.09 per cent.

"The Monetary Policy Committee will conclude its latest meeting at lunchtime today. While the outcome of the meeting remains too close to call, continued expansion in the economy means that the odds slightly favour a rise in interest rates. The size of any hike is also in question. It may be ten basis points, or it could be twenty-five. Whatever happens, the outcome of the meeting is sure to have a significant effect on the outlook for the economy in the short to medium term. Services PMI rose in October from 55.4 to 59.1 beating the flash estimate by a considerable margin. Business costs are rising at what is becoming an alarming rate, and these are being passed on to consumers, resulting in a continued rose in inflation. The surge in operating costs reported by services companies was the highest since 1996. Although the vote will be close, a hike in rates now would send a signal to the market that the recent comments regarding inflation being transitory have now been superseded by events. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

The US Federal Reserve will announce the outcome of its two-day monetary policy meeting later today. Fed chair Jerome Powell is expected to approve plans for scaling back its current $120-billion in monthly bond purchases. And this could be the first step away from the core policies put in place in early 2020 to battle the economic fallout from the Covid-19 pandemic.   According to Jan Lambregts, managing director and global head of financial markets research at Rabobank International, the Federal Reserve is expected to announce the start of tapering at its November meeting, where the central bank could announce a fixed monthly taper schedule that would reduce net asset purchases by $10 billion Treasuries and $5 billion agency mortgage-backed-securities.   He also anticipates the Fed to stress on accumulated progress in the labour market and the transitory nature of supply side bottlenecks.   But, given that the pace of price hikes has remained higher for longer than expected along with the United States' economy growing at a slower pace in the September quarter, market watchers are expecting a rate hike not before the second half of 2022.   According to the CME Group's FedWatch tool, a widely tracked derivatives marketplace in the US, trading in federal funds futures contracts indicates a greater than 65% probability that the Fed would raise rates in June, with a second increase expected in November.   A month ago, rates market indicators signalled less than 20% likelihood of a rate hike as early as June and a comparably negligible probability for two hikes next year.   G Chokkalingam, founder and chief investment officer at Equinomics Research, says a rate hike would happen only in the second half of 2022 calendar year. He cites as the reason the weak GDP numbers in the September quarter. “Central banks are concerned about markets. Fed and others would adopt phased-exit route from a liberal policy. They may reduce bond purchases by 5-10% every month. There will be no major impact on markets,” he adds.   Given this, global cues will hold importance in today's trading session. Back home, Dalal Street could see lean volumes on the bourses today as market participants would want to keep their positions light ahead of the US Fed outcome and Muhurat Trading session due tomorrow.   Among stock-specific triggers, corporate earnings of State Bank of India, Bata India, and Eicher Motors, along with 39 other companies, will remain in focus today.   According to analysts, SBI's Q2 profit may nearly double on a yearly basis to Rs 9,263.3 crore on the back of healthy net interest margins, recovery from DHFL, and lower loan provisioning.   The lender's net interest income, however, is seen rising between 0.6 per cent and 4.6 per cent year-on-year, to up to Rs 29,309 crore.   That apart, Services PMI data and IPOs of Policybazaar, SJS Enterprises and Sigachi Industries will also be on investor radar today.   Watch video here

Yesterday, the ASX200 fell about 46 points in a volatile session. Real Estate shares rebounded, while Materials dropped the most. Goodman Group (ASX:GMG) advanced 5.6%, after a positive trading update. Whitehaven Coal (ASX:WHC) was the worst performer. Its shares fell alongside the price of Chinese thermal coal. In New York overnight, the three major benchmarks closed at a record for the third session in a row. Investors are waiting on a key Federal Reserve decision. Following US equities, the SPI futures are suggesting the Aussie share market will rise 0.97% at the open. What to watch today:In economic news, yesterday, the RBA held the cash rate at its record 0.10%. The RBA also discontinued its monetary policy measures, its yield curve control, and they will drop the 10-point target on the 3-year bond, expiring 2024. Services PMI was released this morning for October, increasing to 52 from 45.5 in September. This indicates a return to expansion, after three months of contraction due to lockdown restrictions. AGMs today include Domino's Pizza (ASX:DMP), Worley (ASX:WOR), Cedar Woods Property (ASX:CWP) and Tyro Payments (ASX:TYR). The most traded stocks by Bell Direct clients yesterday were Westpac (ASX:WBC) and Commonwealth Bank of Australia (ASX:CBA), as financials fell, and investors took profits. Iron ore declined overnight, with BHP and Rio Tinto closing lower in both London and New York. Expect ASX-listed BHP and RIO to follow. The seaborne iron ore price is currently trading more than 3% lower at US$99. Oil is also trading lower as markets await OPEC's meeting. Spot gold is trading lower, below $1,790 amid a weaker dollar. And the coal price has tumbled 6%, as China aims to boost coal production.  Trading ideas:Bell Potter have upgraded software design company Altium (ASX:ALU) from a HOLD to a BUY and have increased their price target by 31% to $42.50, taking into account earnings changes as well as market movements and time creep. ALU closed yesterday at $37.33, implying 13.8% share price growth in a year. Bullish charting signals have been identified in Evolve Education Group (ASX:EVO), Aristocrat Leisure (ALL) and Australian Strategic Materials (ASX:ASM), according to Trading Central.   

After a stellar liquidity-driven run in Samvat 2077, experts are suggesting that investors should brace for a volatile phase for Indian equity markets in Samvat 2078. The market direction, they say, will be guided by a host of domestic and foreign factors that will keep the markets choppy. These include:   Commodity prices and their impact on inflation and corporate earnings Policy stance of global central banks, especially the US Federal Reserve A fresh wave of Covid infections, if any Global developments like economic recovery and China factors IPO pipeline and liquidity with retail investors   While rising input prices, especially those of crude oil and coal, have seen the markets trim gains in the past few weeks, analysts at Nomura have pencilled in 0.6-0.7% rise in inflation over the next few months as a result of this.   Sonal Varma, chief economist for India and Asia ex-Japan, Nomura, said: “We estimate the impact on headline inflation to be as much as around 1 percentage point over the course of the next six months”   As an investment strategy for Samvat 2078, instead of chasing index-wide returns, experts suggest investors look for companies with sound fundamentals, low debt levels and revenue and profit visibility, given the multiple headwinds.   Rupen Rajguru, Head of Equity Investments and Strategy, Julius Baer, for instance, expects the frontline indices to give a high single-digit to a mid-double-digit return in the next one year.   According to Rajguru:   High single-digit to mid-double-digit return Underperformers will try to catch up Economy-facing sectors should do well Capex cycle recovery will be a theme to bet on Bullish on healthcare, large-cap IT, specialty chemicals   Dhananjay Sinha, managing director & chief strategist at JM Financial sees the Nifty between 16,500 and 18,500 levels going ahead.    According to Krishna Kumar Karwa, managing director at Emkay Global, ample domestic liquidity will keep market sentiment buoyant, despite headwinds. Global liquidity, however, could be at risk as the US Fed starts to taper. He said:   Not many investment alternatives for investors due to low interest rates Liquidity will flow depending on available opportunities Tech-led IPOs will get investor's interest   So, while gains at the index level may not be significant in the upcoming Samvat, investors should brace for a volatile phase in equities now, with good financial and operational performance by corporates getting suitably rewarded at the bourses, despite headwinds.   Talking of the market drivers for this holiday-curtailed week, all eyes will be on Manufacturing and Services PMI data for India and the monthly auto sales figures, the outcome of the US Federal Reserve meeting for cues on when the central bank plans to hike rates. On Thursday, the exchanges will hold a special Muhurat Trading session in the evening to usher in Samvat 2078. Bharti Airtel, SBI, HDFC, IRCTC, Tata Motors and HPCL are some of the prominent companies that are scheduled to announce their September quarter results this week. Watch Video

Equities' trading may remain thin this week as investors eye a holiday-truncated week. Besides, the last leg of earnings, largely packed with mid and smallcap names, could also keep markets subdued at benchmark level. Last week, benchmark Sensex fell 2.4 per cent while the Nifty50 slipped 1.9 per cent. In the broader markets, the mid- and small-cap indices dropped 1 per cent each as foreign institutional investors sold their shares amid valuation concerns. Three global brokerages -- Morgan Stanley, Nomura, and UBS – have downgraded Indian markets citing rich valuations while Chris Wood of Jefferies has said the sharp rally has brought his “overweight” stance on India under threat. Given this, markets may try to stabilize this week and prepare for Muhurat Trading on the occasion of Diwali. A special, one-hour Muhurat Trading session will be organized on Thursday, November 4 while markets will remain shut on Friday, November 5 on the occasion of Diwali Balipratipada. Meanwhile, during the early part of the week, corporate earnings, IPOs, and economic data will keep investors busy. The last leg of September quarter results will see companies like Bharti Airtel, SBI, HDFC, IRCTC, Tata Motors and HPCL announcing their September quarter results this week.  Separately, on the economic front, investors will track Manufacturing PMI for October and IIP data for September due to be released later today. Additionally, auto firms will also begin announcing their monthly sales figures for October today onwards. The Services PMI for October, on the other hand, will be declared on Wednesday, Nov 3. In the primary market, initial share sale of Policybazaar.com will open today while Nykaa's IPO will enter last day and Fino Payment Bank's offer will enter its second day. Globally, investors will track the US Federal Reserve's 2-day monetary policy meeting, slated on November 2 nd and 3 rd , for cues on when the central bank plans to hike rates. News flow around Covid-19, oil and energy prices, rupee and dollar movement, and bond yields will be some of the other factors driving the markets.

A host of global and domestic triggers are set to dominate market trends this week. A combination of slowing growth, hawkish tone by central banks, China power crisis, fading fiscal stimulus, and nagging supply-chain bottleneck hit global equities last week, flagging concerns of a long-due market correction. Overall, analysts believe energy woes emanating from China will likely dominate the markets in the near term. Christopher Wood, global head of equity strategy at Jefferies, warns investors to be prepared for higher energy prices and more pressure on OPEC from Washington to pump more oil, despite the Joe Biden administration's decarbonisation agenda. Although back home, Gaurang Shah, senior vice-president at Geojit Financial Services, believes the crisis will be temporary. Nonetheless, the benchmark Sensex and Nifty declined over 2% each during the past week and ended at 58,765 and 17,532 levels, respectively. According to the F&O data, the broader 50-share index is likely to trade within a range of 17,300 to 17,800 this week. The index can fall to 17,000 levels if it breaches the support level of 17,350. As regards the Nifty Bank index, it will trade between 36,500 and 37,500. Among domestic triggers, the Reserve Bank of India's three-day monetary policy meeting, Services PMI data, and September quarter earnings will sway the markets this week. 

Evergrande Group, China's second biggest property developer, managed to rack up staggering debts of more than $432 billion dollars, on the brink of collapse. However, at the very last minute managed to ink a deal to keep it afloat. News of this deal helped the iron ore price surge and Aussie materials stocks make steep gains, lifting the broader market by 0.32%. In the US, all three benchmarks closed in the green. This comes after the Fed announced it was not ready to remove stimulus yet. While no specific timeline was provided as to when it may begin moderating its purchases, in the Fed's post-meeting statement, they noted “if progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.”Following a strong night of trade on Wall Street, the futures are suggesting the Aussie share market will open 0.19% higher this morning.What to watch today:In economic news, the Manufacturing PMI Flash data and the Services PMI Flash data will be released today at 9am AEST.Companies ex-dividend today include Eagers Automotive (ASX:APE), NRW Holdings (ASX:NWH), Cochlear (ASX:COH) and Genesis Energy (ASX:GNE).Suncorp Group (ASX:SUN) holds its AGM today and Brickworks (ASX:BKW) are set to report today.The most traded stocks by Bell Direct clients yesterday included Zip (ASX:Z1P). Its shares lifted 4.3% yesterday to $6.51 following investors responding positively to the company's strategic US$50 million investment in India-based BNPL operator ZestMoney. ZestMoney was founded in 2015 and is now one of the largest and fastest growing BNPL platforms in India. Another highly traded stock yesterday by Bell Direct clients was Fortescue Metals (ASX:FMG). Its shares lifted 4.2% yesterday, bouncing off 14-month lows following the news that China's embattled real estate developer Evergrande will meet its bond interest payments due today. The oil price climbed more than 2%, following a greater than expected drawdown of US supplies. The gold price fell after the Fed signalled a sooner than expected interest rate hike, while the palladium price lifted over 6%.  Trading ideas:Bell Potter has maintained its BUY recommendation on iron ore company Fortescue Metals Group (ASX:FMG), however have decreased its price target to $20.87 (previously $22.52). At its current share price value of $15.37, this implies about 36% share price growth.Bullish charting signals have been identified in De Grey Mining (ASX:DEG), Aussie Broadband (ASX:ABB) & REA Group (ASX:REA), according to Trading Central.

Indian equities are in a solid uptrend amid resumption of FII buying, watered down Fed taper tantrum concerns, and a pick up in the vaccination drive. On Thursday, the S&P BSE Sensex added 514 points, or 0.9 per cent, to end at 57,852.5 while the Nifty50 ended above the 17,200 for the first time at 17,234, up 158 points or 0.92 per cent. Even in the broader markets, the BSE MidCap index advanced 0.9 per cent while the BSE SmallCap added 0.8 per cent. However, a consistent rise in the coronavirus cases and fear of a third Covid wave is driving investors towards defensive bets. India reported over 49,000 new cases of Covid-19 in the last 24 hours, marking a 12 per cent rise in daily infections. This was also the biggest single-day rise in two months. Reflecting the sentiment, the Nifty FMCG index and the IT index have risen 9.5 per cent and 7 per cent, respectively over the past one month, relative to a 7 per cent rise in the Nifty50 index. Even on Thursday, both these indices gained 1.5 per cent each, outperforming all other sectoral and benchmark indices. Given this, volatility, along with sector rotation, could be on cards over the next couple of sessions even as the overall trend remains positive. Now, going into trade on Friday, investors will track stock-specific news, macroeconomic data, updates on Covid-19, and global trends. All eyes would be on the Services PMI data of August, slated to be announced later in the day, after recently released Manufacturing PMI data showed a blip in the factory output. In the primary, the three-day IPOs of Vijaya Diagnostics and Ami Organics will close today.  So far, the public issue of Ami Organics has been subscribed nearly 4 times while that of Vijaya has been subscribed around 50 per cent. Globally, the US non-farm payroll data and Euro zone's retail sales data for July will be the key data points to be tracked.

Anthony Nieves, Committee Chair for the ISM's Services Report on Business® presents the Services PMI report. Learn more about your ad choices. Visit megaphone.fm/adchoices

There was no looking back for the bulls as they pushed the benchmark indices further higher on Wednesday, breaching the psychologically important mark of 54,000 for the BSE Sensex and 16,200 for Nifty50. Banks and financials were the star performers behind today's gain as a strong show by SBI in Q1 powered the sector. Signs of macroeconomic recovery and firm global market mood were among the major factors that aided indices' rise to record highs. BSE Sensex closed at a fresh peak of 54,370, up 546 points or 1.02 per cent after scaling an all-time high of 54,465.91 in trade. Meanwhile, NSE's Nifty50 hit a new high of 16,290.20 to end the session 128 points or 0.79 per cent higher at 16,259. In spite of indices being at record high levels, losers outpaced gainers on both Sensex and Nifty. Even, the overall market breadth favoured sellers as investors booked profit in the midcap and smallcap players. Both BSE Midcap and BSE Smallcap ended over 1 per cent lower after scaling fresh peaks in the morning session. Sectorally, Nifty Financial Services and Nifty Bank were the top performers, up over 2 per cent each. Nifty Realty meanwhile snapped its 4-day winning streak and ended 1.7 per cent down to emerge the worst loser. In stock-specific action, the shares of Vodafone Idea continued to see hefty selling, so much so, that it declined 18.5 per cent to Rs 6.03 on the BSE. The shares took a beating after Vodafone Group Plc ruled out any further equity infusion in its debt-ridden telecom joint venture in India and promoter Kumar Mangalam Birla offered his stake in the company to the government. On the other hand, SBI investors rejoiced after the lender posted its highest ever quarterly profit at Rs 6,504 crore in Q1, up 55 per cent YoY. The stock hit a new high of Rs 467.30 on the NSE and ended the day at Rs 457.05, up 2 per cent. Meanwhile, Adani Green Energy also put up an impressive show in Q1 as its profit swelled by 10 times to Rs 219 crore for the June quarter but the shares still ended 1.50 per cent lower at Rs 694.60. Titan shares declined over 2 per cent ahead of the Q1 earnings to Rs 1799.80 on the BSE to emerge as the worst-performing Sensex stock. The primary market, meanwhile, remained abuzz. All four IPOs that opened for subscription got fully subscribed on Day 1 itself thanks to the retail frenzy in IPO mart. Exxaro Tiles was the most subscribed at nearly 4 times, followed by Windlas Biotech and Devyani International that received nearly 3 times bids. Krsnaa Diagnostics was subscribed over 1.7 times. Lastly, on the macroeconomic front, India's Services PMI for July contracted for the third month in a row but analysts found a silver lining as the pace of contraction slowed. Services PMI rose from 41.2 in June to 45.4 in July. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. Going into trade on Thursday, it remains to be seen if profit booking ensues at higher levels after two days of stellar gains or if bulls hold their mettle. That said, volatility could remain high on account of the weekly F&O expiry. Further, Q1 earnings will remain in focus as over 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance and Gujarat Gas are slated to post their results. The action will remain high in the primary market with four IPOs open for subscription.

通勤族日常大募集：https://forms.gle/ob6SDgWVCcdUerkC7 大家早安！祝大家週末愉快！ 今天提到財報公司 週一 IBM, J.B Hunt, AutoNation, Cal-Maine Foods, Tractor Supply 週二Travelers, Netflix, United Airlines, UBS, Chipotle, Halliburton, Canadian National Railway, Intuitive Surgical, ManpowerGroup, Housing starts 週三Johnson & Johnson, Coca-Cola, Verizon, CSX, Whirlpool, Texas Instruments 週四Intel, AT&T, Blackstone, Twitter, Snap, American Airlines, Initial Jobless Claims, Existing Home Sales 週五Honeywell, American Express, Manufacturing PMI採購經理人指數, Services PMI

Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news interest rate signals are moving a lot today as perceptions of risk change in many directions.But first, today's dairy auction has brought quite a sharp shift lower in overall prices. They were down -3.6% in US dollars from the prior even two weeks ago, although with the lower exchange rate the decline in New Zealand dollars was 'only' -2.1%. SMP fell a hard -7.0% and Cheddar Cheese by -9.2%. The dominant-volume WMP fell by -3.0%. Since the +15% jump in early march, these prices have depreciated by a net -7.3% since, essentially cutting away half that March gain. The shift lower today will no doubt have analysts reassessing the 2021/2022 farm gate payout forecasts.Also slipping more than expected is the closely-watched ISM services PMI in the US for June, although its fall is from a record high in May. This is a story about supply-chain constraints with severe difficulties getting supplies and sky high prices. Amongst the data, the employment index turned to contraction. It was data that undermined benchmark bond yields when it was released. The companion Markit services PMI also fell (and also from a record high) but it didn't show the jobs pullback.In Europe there was also a much sharper than expected reversal of business sentiment in Germany, although it should be noted that the view of current conditions is still quite upbeat.And EU retail sales volumes rose a bit more than expected in May from April, and that makes them +6.5% higher than in May 2019.The Taiwanese unemployment rate rose in May more than expected and mainly due to the pandemic re-emergence in that month. It actually jumped back to the pandemic peak level as they had in May 2020, or 4.1%.In China, after decades of dancing around the issue, it looks like they are preparing to raise their retirement age, which currently is among the world's lowest at 50 for blue-collar female workers, 55 for white-collar female workers, and 60 for most men.In Australia, their central bank yesterday held its cash rate at 0.1% but moved to scale back its massive AU$237 bln program of crisis quantitative easing. Their weekly additions of +AU$5 bln will now be lowered to +AU$4 bln as the first step. Markets responded by bring forward their expectations of a rate hike there - to June 2023 (and far, far later than the November 2021 rate hike expectations in New Zealand).In Sydney will have another week of ‘lockdown lite' as the NSW government tries to make it the city's last. But it's a gamble.We should also note that yesterday, the one year New Zealand swap rate surged +7bps higher and the two year was up another +8bps. That makes the rise since the beginning of June +22 bps and +30 bps respectively. This will have bank mortgage pricing people pulling out their calculators.The UST 10yr yield starts today at 1.37% and down a sharp -6 bps after their long holiday weekend. The price of gold is now at US$1795/oz which is up +US$3/oz from this time yesterday.Oil prices have fallen quite hard today, down by -US$3. In the US they are now just under US$73/bbl, while the international Brent price is now just over US$74/bbl.The Kiwi dollar opens today just on 70.1 USc and marginally lower than this time yesterday. The interim rise we saw yesterday afternoon has now all vanished. Against the Australian dollar we are slightly firmer at 93.6 AUc. Against the euro we are little-changed at 59.3 euro cents. That means our TWI-5 starts today unchanged at 72.9.The bitcoin price is now at US$33,831 and recovering +1.2% from this time yesterday. Volatility in the past 24 hours has been a moderate +/- 2.8%.You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston and we'll do this again tomorrow.

GBP/USD regained positive traction on Friday and stalled its recent slide from multi-week tops. The prevalent bearish sentiment surrounding the USD was seen as a key factor lending support. The British pound got an additional boost following the release of upbeat UK PMI prints for April. UK Manufacturing PMI beats estimates with 60.7 in Apr. Services PMI in the UK jumps to 60.1 in Apr, a beat. GBP/USD keeps its range below 1.3900 despite the upbeat UK PMIs. EUR/USD has been bouncing off 1.20 as markets digest the news of US tax hikes. The dollar index was 0.2% lower at 91.155, remaining just above the seven-week low of 90.856 seen on Tuesday. USD/JPY was flat at 107.95, while the risk-sensitive AUD/USD rose 0.3% to 0.7728.

The equities market started the week strong with the S&P 500, Dow Jones Industrials, and Transportation Averages moving up to set new all-time highs. The move was led by tech and helped lift the NASDAQ Composite by more than 1.5% to set a new 6 week high. The S&P 500 gained more than 1.25% while the Dow Jones Industrial and Transportation Averages posted slightly smaller gains. With earnings season just around the corner, the market appears to be optimistic and getting a lift from the economic data. The March jobs report was not only better than expected but points to healthy consumer conditions this spring. This week, the market will on the lookout for key reads on services and producer prices. The ISM?s Services PMI already came in hotter than expected at 63.7 and led by a sharp increase in hiring.

After two consecutive weeks of decline, markets witnessed a strong rebound and gained over two per cent, in the holiday-shortened week. This week, the markets are likely to focus on the RBI policy meet outcome, macroeconomic data and development on the Covid front. Global cues are also expected to guide market trajectory. That apart, analysts believe, the markets may see some consolidation ahead of the earnings season which would start from mid-April. First and foremost, markets could react to the fast-rising Covid cases in the country and especially in Maharashtra, following which the state government there, on Sunday, announced weekend lockdowns and night curfew to control the spread of the virus. India for the first time since the Covid breakout last year recorded over 1 lakh cases on Sunday. On the back of fast-rising cases in the country, the investor focus will be on the RBI policy meet outcome slated for April 7. Expectations are ripe that the RBI will hold rates and keep stance accommodative, however, commentary on inflation and economic growth outlook will be key. Moreover, on the macroeconomic front, investors would keep an eye on the Manufacturing PMI data for March that will be released later today, while Markit Composite and Services PMI for March will be announced on Wednesday. Besides, oil price movement, FII flows and rupee trajectory will also influence the market direction. Lastly, on the primary market front, an initial public offer (IPO) by Macrotech Developers (formerly known as Lodha Developers) will open for subscription between April 7-9 while the shares of Barbeque Nation Hospitality are expected to list on April 7. And now, let's take a look at the trade setup for today. Defying a positive global market sentiment, the domestic markets looked set to start the week on a subdued note, spooked by fast-rising Covid cases in the country. SGX Nifty futures traded 0.50 per cent lower at 14,918 around 7.40 am today. On the global front, Asia stocks and US futures climbed Monday as investors weighed an unexpectedly strong U.S. jobs report and the sustainability of the latest selloff in bonds. Japan's Nikkei rose 0.8% while MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat. Australian and Chinese markets were closed. On the stock-specific front, shares of Tata Motors will be in focus after the company said it has completed the sale of its Defence business to Tata Advanced Systems for an upfront consideration of Rs 227.7 crore. Britannia Industries declared an interim dividend of Rs 62 per share and the record date for the same has been fixed as April 10, 2021. Jaiprakash Power Ventures, in line with its endeavour to reduce its debt, has pre-paid its loans amounting to Rs 299.51 crore. V-Mart Retail has opened six new stores - four in Uttar Pradesh, one in Bihar and one in Rajasthan. National Fertilisers reported the highest ever total fertiliser sale of 59.36 lakh MT in FY21. Other than fertilisers, the company also saw steep growth in the sale of seeds and agrochemicals.

Anthony Nieves, chair for the Services PMI™ Business Survey Committee for the Institute for Supply Management with the Services PMI™ Report On Business right here on Manufacturing Talk Radio. Learn more about your ad choices. Visit megaphone.fm/adchoices

UK Manufacturing PMI beats estimates with 54.9 in Feb. Services PMI in the UK jumps to 49.7 in Feb, a big beat. GBP/USD sees fresh demand and renews multi-month tops above 1.40. EUR/USD clinches fresh tops in the 1.2140 region. Flash German, EMU Manufacturing PMI surprised to the upside. Flash PMIs, housing data, Fed speak next on tap in the NA session. The Dollar Index was down 0.1% at 90.483, after a 0.4% decline overnight cut short a two-day winning streak. USD/JPY was down 0.1% at 105.62, while the risk-sensitive AUD/USD rose 0.4% to 0.7793. The dollar had posted gains over the last couple of days as U.S. Treasury yields had risen with the release of strong retail sales data, but the unexpected rise in the number of jobless claims came as a reminder of how much slack the pandemic has left in the labour market. A total of 861,000 claims were filed during the previous week, hitting a four-week high, compared with the 765,000 claims expected and the 848,000 claims filed during the previous week. The Federal Reserve had already warned, in the minutes from its January policy meeting, that the labour market would take time to return to trend and thus its easy monetary policy would stay in place for a considerable period. And Treasury Secretary Janet Yellen made it clear that $1.9 trillion in pandemic-relief spending is still needed, defending the need for President Joe Biden's plan despite the recent strength in retail sales.

UK Manufacturing PMI misses estimates with 52.9 in Jan. Services PMI in the UK contracts to 38.8 in Jan, a big miss. GBP/USD sees fresh supply and hits daily lows near 1.3660. Eurozone Manufacturing PMI arrives at 54.7 in Jan vs. 54.6 expected. Bloc's Services PMI stands at 45.0 in Jan vs. 45.0 expected. The shared currency extends gains fuelled by the German PMI readings, with EUR/USD fast approaching the 1.2200 level. The spot trades at 1.2187, up 0.18% on the day. Dollar Index was up 0.1% at 90.243, but has dropped 0.6% this week. Some resistance awaits at 1.3680, which capped the pair in early January. It is followed by 1.3745, the previous 2021 peak. Support is at 1.3620, which was a stepping stone on the way up, followed by 1.3525, a cushion seen last week. USD/JPY was up 0.2% at 103.66 while AUD/USD was down 0.5% at 0.7728.

Special Edition: Kingdom Under Siege! In today's update, we'll look at the Services PMI data, how hedge-fund managers are positioned in the bond market and identify why everyone betting against the bond market is actually bullish. #BondBullish #RisingRates #KingdomUnderSiege Have a question for the show? From time to time I answer your questions. E-mail Steve or, send him a message on Facebook, LinkedIn or Twitter. http://stevenvanmetre.com/about/contact/ https://www.facebook.com/svmfin/ https://www.linkedin.com/in/steven-van-metre-b4a08b182/ https://twitter.com/MetreSteven http://www.stevenvanmetre.com/portfolio-shield/ Watermark Artwork by Jasmine Miller Twitter: @jazcreative The content of this video is provided as educational information only and is not intended to provide investment or other advice. This material is not to be construed as a recommendation or solicitation to buy or sell any security, financial product, instrument, or to participate in any particular trading strategy. This video was prepared by Steven Van Metre in my own personal capacity. The opinions expressed in this video are my own and do not reflect the view of Atlas Financial Advisors, Inc. or Steven Van Metre Financial.

In tonight's update, we will dig into today's Services PMI's and look through the technicals of several charts. Plus, I'll answer a couple of your questions and end the show with a surprise! Have a question for the show? E-mail Steve or, send him a message on Facebook or LinkedIn. http://www.stevenvanmetre.com/ https://www.facebook.com/svmfin/ https://www.linkedin.com/in/steven-van-metre-b4a08b182/ http://www.stevenvanmetre.com/portfolio-shield/ The content of this video is provided as educational information only and is not intended to provide investment or other advice. This material is not to be construed as a recommendation or solicitation to buy or sell any security, financial product, instrument, or to participate in any particular trading strategy. This video was prepared by Steven Van Metre in my own personal capacity. The opinions expressed in this video are my own and do not reflect the view of Atlas Financial Advisors, Inc. or Steven Van Metre Financial.

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