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Hong Kong stocks close higher on telecoms support

* HK->Shanghai Connect daily quota used -1.1%, Shanghai->HK daily quota used 16% * HSI +0.6%, HSCE +0.5%, CSI300 +1.9%* FTSE China A50 +1.7% Jan 5 (Reuters) - Hong Kong shares settled higher on Tuesday for a fifth straight session, led by telecom stocks after the New York Stock Exchange said i

GBP/USD seen consolidating between 1.3460 and 1.3710 – UOB

FX Strategists at UOB Group noted Cable could trade within the 1.3460-1.3710 range in the next weeks. Key Quotes 24-hour view: “Yesterday, we held the view that GBP ‘could move above the major resistance at 1.3700 but a sustained rise above this level is unlikely’. GBP subsequently rose to a high of

Canada: Manufacturing PMI improves to 57.9 in December

Markit Manufacturing PMI in Canada surged to a record high in December. USD/CAD trades with modest daily losses above 1.2700. The business activity in Canada's manufacturing sector continued to expand at a robust pace in December with the IHS Markit Manufacturing PMI improving to 57.9 from 55.8 in N

India Manufacturing Growth Unexpectedly Slows

India's manufacturing expansion unexpectedly slowed, but slightly, in December, survey results from IHS Markit showed on Monday. The headline IHS Markit manufacturing Purchasing Managers' Index, or PMI, rose to 56.4 in December from 56.3 in November. Any reading above 50.0 indicates expansion in the

Gold Price Analysis: XAU/USD rallies to near two-month tops, around $1935-36 region

A combination of factors assisted gold to gain some strong positive traction on Monday. The prevalent USD selling bias was seen as a key factor that benefitted the commodity. Worries about the continuous surge in COVID cases remained supportive of the move. Gold added to its strong intraday gains an

Japan Manufacturing PMI Stable In December - Jibun

The manufacturing sector in Japan improved in December to a level of stability, the latest survey from Jibun Bank showed on Monday with a manufacturing PMI score of 50.0. That's up from 49.0 in November and it now sits right on the line that separates expansion from contraction. Individually, output

Philippines Manufacturing Sector Slides In December - Markit

The manufacturing sector in the Philippines continued to contract in December, and at a faster rate, the latest survey from market Economics revealed on Monday with a manufacturing PMI score of 49.2. That's down from 49.9 in November, and it moves further beneath the boom-or-bust line of 50 that sep

OPEC’s Barkindo: Oil inventory levels show positive momentum but remain stubbornly high

During the 47th meeting of the Joint Technical Committee (JTC), OPEC Secretary-General Mohammad Barkindo noted that crude oil demand will shift from reverse to forward gear and rise to 95.9 million barrels per day (bpd) this year, a gain of 5.9 million bpd from 2020. Even so, the OPEC leader also ra

'We have to be remembered for what's been done,' Trump says on early return to Washington

WASHINGTON (Reuters) -U.S. President Donald Trump returned to Washington early from his Florida resort on Thursday, keeping up his fight with Congress over a defense bill and coronavirus aid checks while chronicling the “historic victories” of his outgoing administration on Twitter. The White House

US Initial Jobless Claims Preview: Temporary surge without affecting unemployment trends

Initial Jobless Claims are expected to continue their recent cycling between surprise gains and losses. First-time filings are expected to increase to 833,000 after 803,000 while continuing claims are predicted to rise to 5.433 million from 5.337 million. Currency markets can be volatile in the fina

WTI Crude Oil Forecast: Market Quiet Ahead of New Year

The West Texas Intermediate crude oil market initially tried to rally during the trading session on Tuesday but then turned around to form a tiny shooting star. I would not read too much into the candlestick though, because there was not going to be a lot of volume in the market. By trying to read t

Gold Price Analysis: XAU/USD breaks above $1880 after a visit to $1871

Wall Street turns negative, recovery of the US dollar eases. Gold remains sideways, now testing level above range. Gold is hovering around $1885, posting a gain of 0.65% on a quiet day. The yellow metal is breaking to the upside, a trading range, following a quick drop to $1871. It rebounded rapidly

S&P 500 Price Forecast – Stock Markets Choppy Heading Into Next Year

The S&P 500 has tried to rally a bit during the trading session on Tuesday but gave back early gains as we simply are killing time between now and New Year’s Day, which of course means that the volume in liquidity would be thin. That being said, we are very much in an uptrend, so I look at any p

US stocks reach an all-time high on stimulus optimism

The euro rose in early trading after reports of an upcoming business investment deal between the European Union and China. The two sides made progress on the key outstanding issue of workers’ rights in China. They aim to reach an agreement this week. This deal will help reduce tensions between the t

China's Industrial Profits Growth Moderates In November

China's industrial profits logged a double-digit annual growth in November, but the pace of growth moderated notably, data released by the National Bureau of Statistics showed over the weekend. Industrial profits increased 15.5 percent on a yearly basis in November, following a 28.2 percent surge po

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