As per latest Commodity Market News, Dollar and Treasury yields stalled its upward move and retreated slightly. As investors await the Nonfarm Payrolls report, which will give a direction of the current situations of the US labour market.
Gold prices witnessed its nine consecutive day’s losing stick, as U.S. data indicating tight labor market conditions raised worries about the Federal Reserve keeping interest rates higher for some time.
Crude oil prices continued its fall for the second consecutive day yesterday, as an uncertain demand outlook overshadowed an OPEC+ decision to maintain oil output cuts, keeping supply tight as per the latest commodity market news released recently.
The US Department of Labor has reported stable weekly jobless claims data for the week ending September 29. Individuals claiming jobless benefits for the first time increased marginally to 207K from the former reading of 205K but lower than expectations of 210K.
The dollar index which measures the currency against six major counterparts went down 0.36% at 106.3850 (At 11.40pm). MCX Gold future settled at 56608 down 0.20%. Silver at 66768 down 0.17%. Copper prices settled at 696.70 down 0.40%. Crude oil settled at 6920 down 2.04%. Natural gas inched higher towards 11 month high and settled at 265.60 up 6.11% as per the commodity market news.
Commodity Market News | Economic data and events scheduled today
Japan
At 10.30am – Leading Indicators. Data is foreseen at 109.0% from previous 108.2%.
Above data could have a neutral impact on the Yen.
Eurozone
At 11.30am – German Factory Orders m/m. Data is foreseen at 1.6% from previous -11.7%.
At 12.15pm- French Trade Balance. Data is foreseen at -8.9B from previous -8.1B.
At 1.30pm- Italian Retail Sales m/m. Data is foreseen at 0.0% from the previous 0.4%.
All above data could have a negative impact on the Euro.
U.K.
At 11.30am- Halifax HPI m/m. Data is foreseen at -0.8% from previous -1.9%..
Above data could have a volatile impact on the pound.
Canada
At 6.00pm – Employment Change. Data is foreseen at 22.1K from previous 39.9K.
At 6.00pm – Unemployment Rate. Data is foreseen at 5.6% from the previous 5.5%.
Above data could have a negative impact on the dollar.
U.S.
At 6.00pm –
Average Hourly Earnings m/m. Data is foreseen at 0.3% from the previous 0.2%.
Non-Farm Employment Change. Data is foreseen at 171K from the previous 187K.
Unemployment Rate. Data is foreseen at 3.7% from the previous 3.8%.
At 9.30pm – FOMC Member Waller Speaks
All above data could have a negative impact on the dollar.
Commodity Samachar
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