©Reuters.
Investing.com – Markets suddenly reversed in trading today, Monday, to fluctuate from gains to sharp declines, coinciding with the opening of day trading in US stocks with collective declines.
The decline in gold and the fall in stocks coincided with a sudden rise in the US index, which got rid of its losses during the day, to move into the green zone at these times.
This came as the Markit Composite Purchasing Managers’ Index (November), Factory Orders (MoM) (October) and ISM Non-Manufacturing PMI (November) all beat expectations.
These data bolster the Fed’s ability to move forward in the scenario of monetary policy tightening, as they came to confirm the US economy’s exit from the recession specter, coinciding with last Friday’s jobs data, which ranged in the same direction.
Data beyond expectations
-
Factory Orders (MoM) (October) rose 1%, versus expectations for a 0.7% increase, while the previous reading was 0.3%.
-
The non-manufacturing PMI released by the Institute for Supply Management (ISM) (November) rose to 56.5, versus an expected reading of 53.3, and a previous reading of 54.4.
-
The Services PMI (November) rose to 46.2 points, versus expectations of 46.1 points, and from the previous reading at 47.8 points.
-
The Markit Composite Purchasing Managers’ Index (November) rose 64.4 points, versus expectations, to 46.3 points, while the previous reading was 48.2 points.
markets now
-
It decreased by 1.2%, or the equivalent of 130 points
-
The Standard & Poor’s 500 index is down 40 points, or the equivalent of 1%
-
It decreased by 0.7%, or the equivalent of 240 points
gold now
-
Gold fell more than $24 in futures contracts, hitting levels of $1,785, a drop of 1.4%, compared with an increase of about $13 in early trading.
-
XAU/USD – Spot contracts for US dollar gold fell 1.4% to $1773, losing $25 after rising about $12 in early trading.
Dollars and bonds
-
The main dollar index rose 0.4% to levels close to 105 points, compared to 104.1 points in early trading.
-
The yield on the 10-year maturity rose to 3.6%, after falling in morning trading to 3.49%.
oil
-
US crude oil contracts trimmed their gains before the dollar rose above 3% to now climb 1.2% to $81.
-
And it has lost much of its gains, which recently reached about 3.2%, to now register 1.1%, to levels near $86.
