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WHAT HAPPENED: The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
GBPCAD is currently in the downward channel. Further downside can be seen in the coming week.
CB Consumer Confidence (Aug), U.S.
WHEN: WHAT IT HAD INFLUENCED:
30th AUGUST 2022 USD and its subsequent pairs
WHAT HAPPENED: Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
USDSEK is currently in the upward channel. Further upside can be seen in the coming week.
Retail Sales (MoM) (Jul), AUSTRALIA
WHEN: WHAT IT HAD INFLUENCED:
28th AUGUST 2022 AUD and its subsequent pairs
WHAT HAPPENED: Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
AUDUSD is currently in the downward channel. Further downside can be seen in the coming week.
Gold Down 3rd Week in Row as U.S. Jobs Suggest More Painful Fed Hikes
WHAT IT HAD INFLUENCED:
TOP COMMODITIES IN THE COMING WEEK
GOLD
GOLD is trading in the down channel; an downside will be seen in the coming days.
WALLSTREET LOWER ON THE EXPECTATION THAT FED STILL NEEDS AN INTEREST RATE HIKE Asia-Pacific stocks tracked Wall Street losses and the yen fell on Friday. The Shanghai Composite is down 0.11% at 3,278.39. Overall, the Singapore MSCI is down 0.03% at 308.45. Over in Hong Kong, the Hang Seng Index is up 0.61% at 20,150.00. In Japan, the Nikkei 225 is up 2.63% at 28,510.00, while the Topix index is up 2.07% at 1972.50. South Korea’s Kospi is up 0.11% at 2,526.55. Australia S&P/ASX 200 down 0.65% at 7024.90. Top News of the Day: The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 closed a tad lower after earlier hitting fresh three-month highs following data that showed the U.S. producer price index (PPI) unexpectedly fell in July. Market Summary as per 11/08/2022: European equit...
During a recession, the unemployment rate normally rises because there is a lack of demand for products and services, which leads to a lack of need for employees. As a result of state and local governments implementing stay-at-home orders in reaction to the COVID-19 epidemic, the unemployment rate rose from 3.5 percent in February 2020 to a record 14.8 percent in April 2020, triggering the most recent U.S. recession. The exceptional loss of 22.1 million jobs between January and April 2020 triggered this massive increase in the unemployment rate. However, the economy quickly recovered, and the COVID-19 recession was the shortest on record. Prior to the epidemic, the United States had been experiencing its longest era of expansion in history. The Great Recession, which began in December 2007 and concluded in June 2009, was followed by a protracted period of rising economic activity. During the Great Recession, the worst economic slump in the United States since the Great Depression...
TOP 5 STOCKS TO WATCHOUT:- 1.HYUNDAI : South Korea’s Hyundai Motor Co said on Friday it has not decided when to resume operations at its assembly plant in St Petersburg, Russia, citing ongoing issues with components delivery. “Hyundai Motor Company is deeply concerned by the situation in Ukraine. We can confirm operations of the Hyundai Motor Manufacturing Russia (HMMR) are suspended until further notice due to ongoing global logistics issues with components delivery,” it said in a statement to Reuters. “The safety of our employees and caring for our customers remains the utmost priority of Hyundai Motor. We sincerely hope the situation is resolved peacefully as soon as possible,” it added. Operations at the St Petersburg plant have been suspended since March 1. The South Korean automaker, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, builds about 200,000 vehicles per year in Russia, about 4% of its global production...
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