Cluster of Economic Data will hold volatility today, China, Europe and US data will lead market volatility China data at 7.00am Manufacturing PMI, previous was at 50.1, forecast is at 50.8. Non-Manufacturing PMI, previous was at 54.4, forecast is at 55.0 At 7.30pm, Caixin Manufacturing PMI, previous was at 49.2,
Silver prices plunged more than 3% last week. As expected on 23 February 2023, Silver prices hit our both predicted levels of 64500-63950. Bullions Prices saw a steep fall as the dollar hit a six-week high on fears of a hawkish Federal Reserve. Silver dropped towards 63201, its weakest level
After witnessing a drastic plunge in last week, bullions prices were able to recover slightly yesteray. And settled on a positive node yesterday. The prices saw mild recovery as they turned lower. It tumbled from a seven week high, tracking declines in the U.S. Treasury yields amid profit booking. However,
The Japanese Yen weakened against the dollar last week and settled at 135.8. Yen continued pressurizing after BOJ Governor in waiting Kazuo Ueda torpedoed bets for a policy pivot under his regime And backed the central bank’s current dovish monetary policy measures. Amid expectations that four-decade high inflation isn’t likely
Today, The Personal Consumption Expenditures price index for January is due and is expected to reiterate that inflation remained sticky through the month. The reading is also likely to attract more calls by the Fed for sharper interest rate hikes in the coming months. Inflation readings from Japan are to
Today, Europe will release CPI data year on year. Eurozone inflation data could help set the stage for the ECB who are expected to raise rates by an additional 50-basis point (0.5%) in March. the ECB (European Central Bank) has reconfirmed their commitment to taming inflation through additional rate hikes,
Today, the US Fed will release the minutes of its February 2023 meeting. A rate hike prospect will likely remain at the forefront of risk sentiment. The minutes will bring clutter for the entire market. Any rate hike hints will have a significant impact on dollar and bullions prices. It
The latest US flash Services PMIs will be released at 8.15pm today. Which expect to bring volatile momentum in Gold prices. A higher than forecasted data may result in pressure in bullions prices. Adding to this, tomorrow’s FOMC minutes will likely have a significant impact. Gold prices had a range
Since mid January 2023, Euro currency remained doldrums mode against the U.S. dollar and INR. Last week, it was able to gain 0.63% and settled at 88.2839 against the INR. As market participants continue to focus on world major central bank policy and recession risks. U.S. economic indicators could contribute to driving volatility for the
Key focus on Canada CPI and US Flash Services today. After recent U.S economic data which renewed uncertainty over how high interest rates may ultimately rise in Fed policy. From the UK Flash Manufacturing PMI and Flash Services PMI will bring clutter for Pound and base metal. Canada Inflation and
