ShreeMetalPrices: Euro zone inflation drops more than expected to 6.1%, fueling debate over ECB rates
As underlying price increases also slowed last month, the euro zone’s inflation rate decreased more than anticipated, igniting a discussion on whether or not the European Central Bank (ECB) should raise interest rates beyond the one scheduled for this month. According to poll of economists, 6.3% was the consensus expectation for inflation in the 20 […]
ShreeMetalPrices: India’s factory activity increased in May at its quickest rate since October 2020.
According to a private survey released on Thursday, robust demand and output helped India’s factories produce more last month than they had since October 2020. And businesses hired at the quickest rate in 6 months. India’s economy has been driven mostly by the manufacturing sector over the previous several quarters. In contrast to regional rivals […]
ShreeMetalPrices: Fed’s Loretta Mester: ‘No Compelling Reason’ to pause another rate hike
Cleveland’s Federal Reserve (Fed) Bank President Loretta Mester does not see any “compelling” justification for delaying the implementation of another interest rate increase. Mester said in an interview with the Financial Times, “I don’t truly see a compelling cause to pause.” “I would see a more convincing case for raising rates and then holding them […]
ShreeMetalPrices: Oil declines due to OPEC+ talks being uncertain and blocks in US debt deal
As worries about the US debt ceiling agreement dampened the market’s risk-on mood and conflicting comments from big producers muddied the supply forecast ahead of their conference this weekend, oil dipped on Tuesday, given up early gains. Following a 0.5% increase earlier on Tuesday. The price of Brent crude futures dropped by 59 cents, or […]
ShreeMetalPrices: BHP belives china’s real estate recovery will pump metals consumption
Despite a signal from the world economy that has led copper prices to drop precipitously, BHP Group is full of optimism in the recovery and of China’s actual estate markets in the next months. According to international news on May 25. Existing home sales in the real estate market “are still strong & very strong,” […]
ShreeMetalPrices: China and Japan fears, Doesn’t want U.S. Debt Default
As the clock approaches an unprecedented United States the debt default, the world’s second and third-largest economies are terrified. The two biggest foreign investors in US government debt are China and Japan. They collectively hold $2 trillion, or additional than a quarter of the $7.6 trillions in United States Treasury assets held by foreign governments. […]
ShreeMetalPrices: Gold hovers to two-month low afters US debt ceiling talks progress
Gold fell to its lowest level in 2 months on friday as confidence around the United States debt ceiling talks reduced demand for safe-haven assets, while strong economic data continues to fuel expectations of another rate increase. By 9:00AM IST, spot gold was 1,943.10 dollar per ounce and fell below the 1,950 dollar mark for […]
ShreeMetalPrices: Copper prices pressured on demand prospects, falls for sixth straight weekely loss in a row
Due to rising supplies and persistent macroeconomic worries, copper prices increased on Friday despite the fact that they were still on track to suffer their sixth weekly loss. – LME As of 1600 IST on the London Metal Exchange, (LME) 3-month copper was up 1.01% at $8,093.50 per tonne. But down 2.7% for the week […]
ShreeMetalPrices: Australia’s housing market disaster looms to an increase in homelessness
According to a survey, the number of homeless persons in Australia who live on streets or in automobiles has increased due to the housing crisis. According to Mission Australia’s Homelessness & Stable Housing Impacts Report, the need for its homeless support services has grown by 26 percent in the previous 3 years, according to the […]
ShreeMetalPrices: UK Services PMI drops to 55.1 in May
According to official data released on Tuesday, service sector growth in the UK decreased previous month more than was anticipated. The Chartered Institute of Purchasing & Supply and the National Trade Certificate Economics reported that. UK Purchasing Managers Index (PMI) The United Kingdom’s Services Purchasing Managers Index (PMI) decreased from 55.9 in the previous month to a […]