Source: WSJ Copper miners at La Escondida, the world’s largest plant in Chile, plan a strike after rejecting a new contract offer from BHP Group Ltd. HG1! is up +0.31%. The union representing the workers at the mine facility say BHP’s offer had no performance-based compensation for keeping it operating during Covid-19.Miners now will need to endure an obligatory … [Read more...] about Workers at the World’s Biggest Copper Mine Reject Offer in Readiness for Strike
Forex News
UK Manufacturing PMI Slips to 60.4 in July with Input Shortage Driving Up Cost
Source: IHS Markit The UK seasonally adjusted Manufacturing PMI was 60.4 in July, down from 63.9 in June as output and new order growth slowed. FTSE 100 is up + 0.64%, GBPUSD is down -0.08%. The July’s decline in the UK Manufacturing PMI is a drop from the month of May when it hit a record high of 65.6. The rate of manufacturing output was up for the … [Read more...] about UK Manufacturing PMI Slips to 60.4 in July with Input Shortage Driving Up Cost
China’s July Manufacturing PMI Down to 50.3 Amid a Positive Business Outlook
Source: IHS Markit China General Manufacturing seasonally adjusted PMI moved from 51.3 in June to 50.3 in July, the slowest improvement in 15 months. CSI 300 is up +2.55%, USDCNY is down -0.01%. The employment index was slightly above 50 in July, signaling an expansion and an increase in the pending workload.The new export order index was marginally above 50 due to … [Read more...] about China’s July Manufacturing PMI Down to 50.3 Amid a Positive Business Outlook
Germany’s Manufacturing Hits a 4-Month High as Employment Rises to a New Record
Source: IHS Markit Manufacturing PMI in Germany rose for the second month to reach 65.9 in July from 65.1 in June, the highest since April and third on record. DAX is up +0.030%, EURUSD is up +0.20%. Manufacturing PMI was boosted by new orders, which registered the third-strongest gain on record, leading to an increase in backlogs.Output growth remains strong … [Read more...] about Germany’s Manufacturing Hits a 4-Month High as Employment Rises to a New Record
NZDUSD Analysis: The Kiwi Recovering but the Fundamentals Look Unsupportive
The spike in Covid-19 cases amongst New Zealand's largest trading partners could hurt NZD further.New Zealand-China trade key to NZD's trajectory. The NZD/USD pair gained some ground on Thursday to trade at 0.69924, at 1412 GMT. The kiwi overcame reports of a -3.8% in its July business confidence, as new concerns arose concerning the spike in Covid-19 cases in the … [Read more...] about NZDUSD Analysis: The Kiwi Recovering but the Fundamentals Look Unsupportive
