Gold prices retreated slightly yesterday. Bullions saw some pressure after Eurozone Inflation figures and the US after unemployment claims data. The dollar strengthened after unemployment claims pointed to a strong U.S. jobs market. That along with other data showing growing labor costs indicates the Federal Reserve will keep interest rates
Copper prices retreated significantly. It dropped below the day’s low as after the Euro zone inflation rose to a higher than expected annual rate of 8.5% in February. A according to a first estimate from the EU’s statistics agency. The euro fell against the dollar on after data showed inflation in
Natural gas has paused its recent drastic fall and recovered more than 20% . It recovered from the low 163.4 of 22 February 2023 to yesterday’s high of 231.70. The most-active April gas contract on the New York Mercantile Exchange’s Henry Hub settled Wednesday trade at $2.846 per mbtu. The recovery
Today, Euro zone inflation numbers will bring clutter for the entire market. The upcoming meeting in mid March is almost certain, what happens beyond then is still up for debate. Hence, preliminary data on Euro zone inflation will be closely watched. With inflation still well above the ECB’s 2% target,
Crude Oil retreated from the morning high. As signs of ample supply and rising U.S. crude inventories. Countered hopes for higher demand arising from a jump in manufacturing in top crude importer China. U.S. oil inventories rose by 6.2 million barrels in the week ended Feb. 24. according to market
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
Copper prices plunged by 3.16% last week. That was the biggest losing streak since mid November 2022. Base metals prices tumbled last week after a series of hawkish signals from the Fed. Prices fell particularly hard on Friday after data showed that the Personal Consumption Expenditures index. The Fed’s preferred
