BNN Bloomberg’s Paul Bagnell looks at how North American markets are shaping up for the trading day. (Bloomberg) — U.S. stock futures rose and longer-maturity bonds retreated as investors ratcheted up wagers that Donald Trump would win the presidential election after an assassination attempt.The U.S. 30-year yield rose above the two-year for the first time … Read more
Eurozone business activity expanded at its quickest rate in a year in May as growth in the bloc’s dominant services industry outpaced contraction in manufacturing, according to a private survey, which also showed price pressures easing.HCOB’s composite Purchasing Managers’ Index (PMI) for the currency union, compiled by S&P Global and seen as a good gauge … Read more
Silver (XAG/USD) declined below .00 in Tuesday’s European session as the DXY Dollar Index rebounded. The speculation for the Fed reducing interest rates in September has strengthened due to signs of economic slowdown in the US.
Turkish factory activity contracted in May as demand slowed, leading to a decrease in production and employment. The Purchasing Managers’ Index for Turkish manufacturing fell to 48.4, below the 50-point level indicating growth. Firms reported a drop in new orders, including export orders, due to challenging demand conditions and high prices. Manufacturers scaled back production and reduced staffing levels, with some firms not replacing departing staff due to lower workloads. Inflationary pressures continued to decrease, with input and output prices increasing at a slower pace.
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth by 130,000 barrels per day to 1.2 million bpd due to lower than expected consumption in OECD countries and a slump in factory activity.