Speculative moves continue in the third week. A speculation of Fed rate hike after the recent US economic data resulted in a drastic fall in Bullions and Base metals last week. On the other side, Crude oil plunged and the dollar hit a six week high against its major counterparts.
Japanese Yen weakens amid BOJ Governor jitters. And the extension of the bank’s ultra-loose monetary policy has witnessed a speculative move in Japanese Yen. Since the start of the year, USD/JPY pair jumped from the low of January 2023 (127.215). It jumped towards its recent high 134.809, almost 3.55%.
UK, Eurozone data will be key focus today. Global commodity paused its recent fall and had neutral trade yesterday. Gold rebounded slightly after today’s U.S. January PPI data which came stronger than expected. The report showed persistent inflation pressure that was hawkish for Fed poli. Higher than forecasted U.S. Jan
Cluster of U.S. economic data stands for today, which may bring clutter for the entire market. The dollar strengthened more than 0.76% yesterday. Currency found strong support in the wake of stubbornly high U.S. inflation data and retail sales data. And jitters of interest rates from Federal Reserve officials also
The dollar strengthened more than 0.30% today. Currency found strong support in the wake of stubbornly high U.S. inflation data , released yesterday. Amid talk on interest rates from Federal Reserve officials. The U.S. dollar index, which gauges the currency against its peers, was up 0.32% to 103.60 after closing
Dollar is trading on cautious nodes since morning. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.40% lower at 102.86. U.S. dollar retreated from day’s high ahead of latest readout of U.S. consumer inflation data. Data will released at 7pm later today. The
India and US inflation data will be key drive India and US inflation data will be key drive today. Global commodity market had a slightly negative trade yesterday. Where, Bullions remained negative. Metal and Energy prices close on mixed somewhatnodes. Gold saw a selling pressure as market remained cautious ahead
Here is what Economic data and event will impact market US The US is to publish CPI m/m on Tuesday with forecasts to have expanded by 0.5%, after a contraction -0.1% in the last month. Core CPI m/m forecast to have expanded by 0.4% from last month’s reading of 0.3%.
Jitters of Fed Rate kept a volatile momentum last week. Bullion and Metal prices drops, while Energy segment remained somewhat positive. A slew of Fed officials spoke on monetary policy this week. All kept volatile momentum in the entire market. with all of them raising the prospect of more interest
Our outlook yesterday on MCX SILVER Future was proven accurate. SILVER prices witnessed a speculative jump more than 6% since yesterday. Also, witnessed biggest intraday gains after 20 December 2022. From the domestic front, Silver jumped abruptly, as after the Indian government on Wednesday announced an increase in import taxes
