The dollar retreated on Monday as investors focused on US inflation economic data expected later this week, while the yen fell to a near 34-year low and traders remained wary of possible moves by Japanese authorities. support a weaker currency.
The dollar index, which tracks a basket of six other currencies, fell 0.16% to 104,121.
Gold prices hit a pause its recent speculative up move after scaling to historic highs in the previous session on expectations of lower U.S. interest rates this year, while traders await further cues from a key jobs report due later in the day.
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.
Crude Oil prices fell on Monday, ending a multi-session rally after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas.
MCX gold futures settled +0.39% to 70912.Silver settled +1.25% to 81875. Copper settled +1.85% to 816.05. Crude oil -1.44% at 7179. Natural gas +1.72% to 154.1
Economic data and events scheduled today
Japan
At 10.30pm- Consumer Confidence. Data is foreseen at 39.6 from previous 39.1.
At 11.30am- Prelim Machine Tool Orders y/y. Previous was at -8.0%.
Above data could have a positive impact on the Yen.
Eurozone
At 12.15am- French Trade Balance. Data is foreseen at -7.0B from previous -7.4B.
Above data could have a neutral3 impact on the Euro.
US
At 3.30pm- NFIB Small Business Index. Data is foreseen at 88.8 from previous 89.4.
Tentative – RCM/TIPP Economic Optimism. Data is foreseen at 44.2 from previous 43.5.
Above economic data could have a positive impact on the dollar.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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