Australia’s S&P Global Manufacturing PMI declines to 50.3 in May

Australia’s S&P Global Manufacturing PMI declines to 50.3 in May

The preliminary reading of Australia’s S&P Global Manufacturing Purchasing Managers Index (PMI) declined to 50.3 in May versus 51.3 prior, the latest data published by S&P Global showed on Thursday. The Australia’s S&P Global Services PMI eased to 47.7 in May from the previous reading of 50.7, while the Composite PMI fell to 47.8 in May […]

Gold rallies as Fed minutes flag hikes, US Dollar slides

Gold rallies as Fed minutes flag hikes, US Dollar slides

Gold (XAU/USD) finds bids and edges higher during the North American session on Wednesday after the Federal Reserve’s (Fed) last meeting minutes showed that most officials favored laying the groundwork for a rate hike. At the time of writing, the XAU/USD pair trades at $4,530, up by 1%. XAU/USD climbs as lower yields offset hawkish […]

Dow Jones rides an Iran peace bid, but Nvidia holds the real verdict

Dow Jones rides an Iran peace bid, but Nvidia holds the real verdict

The Dow spent Wednesday hostage to two things it cannot control, the bond market and an Iran headline, and by the time of writing, the headline had won. Futures had been grinding lower under the weight of a vicious selloff in long-dated Treasuries, then turned on a dime and ripped back toward the session highs […]