The Economic Data for the day is in. The dollar was little changed on Tuesday as investors remained cautious ahead of Wednesday’s US inflation data, although the yen was near multi-decade lows, keeping investors wary of possible moves by Japan to support its currency.
According to Reuters. according to the survey, economists expect the US consumer price index (CPI) to rise 0.3% in the month, compared to a 0.4% increase in February. Core CPI is also expected to rise 0.3% in March.
Gold remained below record highs as investors awaited minutes from the US Federal Reserve’s policy meeting and key inflation data on timing and magnitude.
Crude Oil prices held steady in early trade on Wednesday after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire talks were offset by a bigger-than-expected build in U.S. crude inventories.
Copper prices in London hit their highest in more than 14 months on Monday, helped by demand from momentum-following funds, strong German industrial data and a rally in other commodities.
MCX gold futures settled +0.60% to 71340.Silver settled +0.70% to 82450. Copper settled +0.31% to 818.55. Crude oil -1.02% at 7102. Natural gas 0.65% to 155.10.
Economic data and events scheduled
China
10th-15th – New Loans. Data is foreseen at 3700B from previous 1450B.
10th– 15th – M2 Money Supply y/y. Data is foreseen 8.7% from previous 8.7%.
Above data could have a positive impact on the Yuan.
Eurozone
At 1.30pm- Italian Retail Sales m/m. Data is foreseen at 0.2% from previous -0.1%.
Above data could have a volatile impact on the Euro.
Canada
At 6.00pm-
Building Permits m/m. Data is foreseen at -4.1% from previous 13.5%.
At 7.15pm-
BOC Monetary Policy Report. BOC Rate Statement.
Overnight Rate. Expect to keep unchanged at 5.00%.
At 8.00pm- BOC Press Conference.
Above economic data could have a neutral impact on the dollar.
US
At 6.00pm-
Core CPI m/m. Data is foreseen at 0.3% from previous 0.4%.
CPI m/m. Data is foreseen at 0.3% from previous 0.4%.
CPI y/y. Data is foreseen at 3.4% from previous 3.2%.
At 6.15pm- FOMC Member Bowman Speaks.
At 7.30pm- Final Wholesale Inventories m/m. Data is foreseen at 0.5% from previous 0.5%.
At 8.00pm- Crude Oil Inventories. Previous was at 3.2M.
10.15pm- FOMC Member Barkin Speaks.
At 11.30pm- FOMC Meeting Minutes.
At 11.30pm- Federal Budget Balance. Data is foreseen at -191.2B from previous -296.3B.
Above economic data could have a volatile impact on the dollar.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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