Economic Data: Quiet economic calendar meets a tired sentiment

Economic Data: Quiet economic calendar meets a tired sentiment

The economic data for the day looks quiet but is there something worthwhile within the silence of the market?

The U.S. dollar had a neutral trade against the other major currencies peers on Tuesday. Volatility remained limited after the excitement of last week’s central bank meetings and ahead of the release of key inflation data later in the week.

Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.6% up at 104.2930, rebounded from the low of 104.012.

Gold price off the day’s highs after Greenback extended its recovery while a fall in US Treasury yields maintained the yellow metal in the green.

Crude oil prices retreated from the day’s high as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks.

Oil prices edged lower after Russia’s government ordered companies to cut output in the second quarter to meet a 9 million barrels per day (bpd) target to comply with pledges to the OPEC+ consumer group.

MCX gold futures settled +0.14% to 66114.Silver settled -0.54% at 74518. Copper settled -0.37% to 757.70. Crude oil -0.10% at 6817. Natural gas +11.38 to 150.7.

Economic data and events scheduled – What economic data looks interesting?


At 1.30pm-Spanish Flash CPI y/y. Data is foreseen at 3.1% from previous 2.8%.

Tentative- Italian 10-y Bond Auction.

  Above data could have a mixed impact on the Euro.


At 4.00pm- FPC Meeting Minutes. FPC Statement.

Above data could have a neutral impact on the Pound.


At 8.00pm- Crude Oil Inventories. Forecast -0.7M from previous -2.0M.

Above data could have a neutral impact on the dollar

Commodity Samachar
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