Sakina MandsaurwalaPrecious metals continue to trade weak on account of overdue extended trade tensions between the US and China. Strong job growth data in the US highlights the resilience, indicating that US Fed Chairman Powell might keep policy unchanged in the upcoming FOMC meeting in December.In the base metal complex, except copper, all other metals continue their selling trajectory due to subdued demand. Copper prices traded positive with 2.5 percent post the US strong numbers, Adrawdown in inventory levels and on the encouraging China trade talk speculation.Close Both Nymex Crude and Natural gas closed higher with 2 percent gains. Crude oil remained supported as the OPEC+ nations surprised with additional cuts to avoid the oversupply in the global oil market while Nymex natural gas closed higher on the forecast of moderate weather next week. related news Trade deal optimism, positive China manufacturing data may limit further downside in Zinc How to evaluate your risk … [Read more...] about ‘OPEC move may help balance oil market; support for Nymex prices seen at $55/bbl’
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Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Hareesh VDespite positive Chinese manufacturing numbers and improved trade deal optimism, Zinc prices in the international and domestic markets tumbled to multi-month lows.Prices gained considerably in the first half of the year but nosedived to a three year low by September on feeble demand expectation from China.Close China is the world’s largest zinc producer. Additionally, the country is the top consumer, accounting for about half of the global consumption. However, the 16 months old trade dispute with the US has roiled the Chinese manufacturing sector and demand for zinc. related news How to evaluate your risk appetite? December is usually volatile, pause is not negative trigger as articulated Jute could be among priority industries to bet on in next rally Zinc is largely used for galvanising steel, hence, about 50 percent of global demand is from the construction sector. Transportation, infra, industrial machinery and consumer products are the other … [Read more...] about Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Quick Take | How deflation in food prices played a role in BJP’s election debacle
Manas ChakravartyOne reason for why the BJP lost the three states in the Hindi heartland can be seen in the November 2018 retail inflation numbers. The inflation in rural Chhattisgarh compared to a year ago was (-)2.69 percent. That is deep in deflationary territory and although the Consumer Price Index (CPI) is not the ideal measuring rod for farm prices, it does give some indication of rural distress. The deflation is in food prices, as is evident from the All-India Consumer Food Price Index (CFPI), which in November was down 2.6 percent from a year ago. Clearly, the tall promises of higher minimum support prices haven't translated into higher market prices.In rural Madhya Pradesh, consumer prices were up a mere 0.67 percent from a year ago. In Rajasthan, they were slightly higher, up 1.3 percent.Close Manas ChakravartyMoneycontrol News Macro Matters | IMF and Moody’s say India will likely miss its government debt reduction targetsPolicy matters | The urgent need for … [Read more...] about Quick Take | How deflation in food prices played a role in BJP’s election debacle
Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.All three major US stock indexes gained ground, hovering within 1 percent of record highs set last week.But as a tumultuous week of contradictory trade news and mixed economic data drew to a close, only the S&P 500 posted a weekly gain. The Dow and the Nasdaq ended the session down from last Friday's close.Close The US economy added 2,66,000 jobs in November, the largest increase in 10 months, according to the Labor Department, blowing past analyst estimates. The unemployment rate edged down to 3.5 percent. related news Wall Street opens higher after strong jobs data, calmer tone on trade Wall Street inches higher as December 15 tariff deadline looms "This type of report shows underlying economic strength, and it gives corporate management confidence in the strength of the economy," said … [Read more...] about Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts
Shakti Pumps shares fall 3% after CARE revises credit rating
Shares of Shakti Pumps (India) fell over 3 percent on BSE on December 6 after CARE revised the company's credit rating for its long-term bank facilities."CARE Ratings has revised credit rating for long-term bank facilities from "CARE A-" with a stable outlook to "CARE A-" with a negative outlook," the company said in a regulatory filing.CARE reaffirmed "CARE A2+" on the company's short-term bank facilities.Close Around 15:00 hours IST, shares of the company traded 2.90 percent down at Rs 207.85 on BSE.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about Shakti Pumps shares fall 3% after CARE revises credit rating