विदेशी मुद्रा समाचार और ब्लॉग

The major US stock indices are opening a lower led by the NASDAQ index. Yesterday, the NASDAQ index fell -0.84% outpacing the declines by the S&P of -0.54% and the Dow industrial average of -0.11%.

The major indices are up for 5 consecutive weeks, but with declines for the first 2 trading days of the week, that streak may be in jeopardy.

A snapshot of the market currently shows:

• Dow industrial average is down -89 points or -0.25% at 36116
• S&P index is down -14.3 points or -0.32% at 4555.56
• NASDAQ index down -54.0 points or -0.38% at 14133

Looking at the US debt market, yields are lower across the yield curve:

• 2-year yield 4.624% -3.4 basis points
• 5-year yield 4.185% -5.2 basis points
• 10-year yield 4.214% -7.1 basis points
• 30-year yield 4.364% -7.3 basis points

Looking at other markets:

• Crude oil is rebounding and trades up $0.55 or 0.75% at $73.60. The low price reached $72.17 before rebounding
• Gold is down -$4.90 or -0.25% at $2023.90. Gold reached an all-time high yesterday at $2146.79.
• Silver is down 12% or -0.50% at $24.35.
• Bitcoin is trading above $42,000 at $42,050

The JPY remains the strongest of the major currencies while the AUD remains the weakest.

The S&P global composite index for November will be released at 9:45 AM ET. The preliminary composite figure came in at 50.7 with the servicespreliminary coming at 50.8.

At 10 AM, the ISM PMI data for November will be released with expectations of 52.0 versus 51.8 last month.

Also at 10 AM, the JOLTs job openings for October are expected at 9,300,000 versus 9,553,000 last month

This article was written by Greg Michalowski at www.forexlive.com.

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• Prelim was 50.8
• Prior was 50.6
• Composite PMI 50.7 vs 50.7 prelim
• Prior composite PMI 50.7
• input cost inflation eased to the slowest in over three
  years (likely fuel)
• Output prices rose at a quicker pace, to the fastest since July
• New orders returned to growth

Aside from prices, this survey is in a nice spot for the soft-landing scenario.

The ISM services survey is due at the top of the hour.

Chris Williamson, Chief Business Economist at S&P
Global Market Intelligence, said:

“The latest PMI data point to a further cooling of inflation
pressures, but the surveys also signal only modest
economic growth and near-stagnant employment, with
the risk of the expansion losing further momentum as
we head towards 2024.

“While service sector businesses continued to report
further output gains in November, growth remains
considerably weaker than seen earlier in the year, and
forward-looking indicators point to growth slowing in the
months ahead.

“Firms providing both goods and services have become
increasingly concerned about excessive staffing levels in
the face of weakened demand, resulting in the smallest
overall jobs gain recorded by the survey since the early
pandemic lockdowns of 2020.

“The cooling jobs market has been accompanied by
lower wage growth which, combined with recent oil
price falls, helped pull business cost growth down to its
lowest for three years, dropping in November to a level
indicative of inflation approaching the Fed’s 2% target
in the coming months.”

This article was written by Adam Button at www.forexlive.com.

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मनीमेकर एफएक्स ईए ट्रेडिंग रोबोट

• Prior was 51.8

Details:

• Employment index 50.7 versus 50.2 prior
• New orders index 55.5 versus 55.5 prior
• Prices paid index 58.3 versus 58.6 prior
• New export orders 53.6 versus 48.8 prior
• Imports 53.7 versus 60.0 prior
• Backlog of orders 49.1 versus 50.9 prior
• Inventories 55.4 versus 49.5 prior
• Supplier deliveries 49.6 versus 47.5 prior
• Inventory sentiment 62.2 versus 54.4 prior

These are steady numbers that point to a decent economy. There’s no recession in the data but there isn’t much growth either and I think the market is fine with that.

Comments in the report from respondents:

• “Restaurant sales and traffic trends are consistent with the previous month and at our annual seasonal lows — should pick up again in December. We continue to trend positive to pre-pandemic and last year.” [Accommodation & Food Services]
• “Opportunities across the construction industry remains strong. The labor market for skilled trades workers is tight.” [Construction]
• “Supplies and merchandise are holding steady.” [Educational Services]
• “Business conditions remain steady to the end of 2023. Annual cost escalations are a bit higher than planned, more than 5 percent versus 3 percent due to overall economic conditions and concerns.” (Finance & Insurance)
• “Signs of recovery are on the horizon — (profit) margins remain tight, but revenue is improving and labor appears to be stabilizing. Supply chains are operating well, but a few major manufacturers continue to show signs of constraints that have persisted for some time. Capital investment remains constrained; however, optimism has returned for a turnaround in calendar year 2024.” [Health Care & Social Assistance]
• “There are fewer new projects in comparison to last month and November 2022. Customers are not requesting quotes for new services.” [Information]
• “Customers are conservative in spending, so competition to maintain market share is tight.” [Management of Companies & Support Services]
• “Fourth-quarter revenues lower than projected. Seeing negative revenues trend into the first quarter of the new year. We remain positive yet concerned about 2024.” [Professional, Scientific & Technical Services]
• “Prices for most items increasing, but only slightly. Increase in pricing for services much more noticeable and impactful on the organization.” [Public Administration]
• “Candidate expectations during the hiring process have made staffing up more difficult.” [Retail Trade]
• “Solid activity heading into the final stretch of the fourth quarter.” [Transportation & Warehousing]
• “Labor, equipment and material price escalation requests are increasing, both through existing contracts as well as re-pricing of markets via requests for proposal.” [Utilities]
• “A comparably flat month of business activity — no major swings one way or the other. Inventories in our extended supply chain look healthy, and fill rates are improving.” [Wholesale Trade]

This article was written by Adam Button at www.forexlive.com.

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The Kremlin confirms that Putin will meet with Mohammed bin Salman to discuss their partnership within OPEC+, adding that coordination between the two through the bloc is a firm guarantee of safeguarding stability in the oil market. And for Putin’s visit to the UAE, heads of Russian oil companies will accompany him as part of his delegation.

This article was written by Justin Low at www.forexlive.com.

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