All the focus seems to be falling on the Fed Chair The dollar hit its highest level against a basket of currencies since early November on Monday, pushing the yen to its lowest level since 1990 after US retail sales rose more than expected for the year. March.
Retail sales rose 0.7% last month, and February’s data was revised higher to show sales rose 0.9% from the 0.6% previously reported. Economists polled by Reuters had forecast retail sales, which are mostly goods and not adjusted for inflation, rose 0.3% in March.
Gold futures traded higher on Monday afternoon, although Treasury yields rose after the US Census Bureau said, that retail sales increased. more than expected last month, while the metal’s geopolitical premium eased after Iran’s weekend attack on Israel.
Aluminum prices rose to a 22-month high and nickel to a seven-month high after the United States and Britain banned the London Metal Exchange and CME from accepting new Russian production of the two metals.
Crude oil prices fell on Monday in retaliation. from Iran. The blow against Israel was less severe than feared, showing that Tehran is not in the running for a major confrontation that fears triggering a large-scale regional conflict.
MCX gold futures settled +0.60% to 72277.Silver settled +1.25% to 83851. Copper settled +1.31% to 831.30. Crude oil -1.00% at 7115. Natural gas-4.85% to 141.3.
Economic data and events scheduled today
China
At 7.30am-
Industrial Production y/y. Data is foreseen at 6.0% from previous 7.0%.
GDP q/y. Data is foreseen at 4.8%. Previous was at 5.2%.
Retail Sales y/y. Data is foreseen at 5.1% from previous 5.5%.
Fixed Asset Investment ytd/y. Data is foreseen at 4.0% from previous 4.2%.
Unemployment Rate. Data is foreseen at 5.2% from previous 5.3%.
All above data could have a negative impact on the Yuan.
Eurozone
At 11.30am- German WPI m/m. Data is foreseen at 0.1% from previous -0.1%.
At 2.30pm-
Italian Trade Balance. Data is foreseen at 3.44B from previous 2.66B.
Trade Balance. Data is foreseen at 27.3B. Previous was at 28.1B.
German ZEW Economic Sentiment. Data is foreseen at 35.9 from previous 31.7.
ZEW Economic Sentiment. Data is foreseen at 37.8 from previous 33.5
All above data could have a volatile impact on the Euro.
UK
At 11.30am-
Claimant Count Change. Data is foreseen at 17.2K from previous 16.8K
Average Earnings Index 3m/y. Data is foreseen at 5.5%. Previous was at 5.6%.
Unemployment Rate. Data is foreseen at 4.0% from previous 3.9%.
At 10.30pm- BOE Gov Bailey Speaks
All above economic data could have a volatile impact on the pound.
Canada
At 5.45pm- Housing Starts. Data is foreseen at 244K from previous 253K.
At 6.00pm-
CPI m/m. Data is foreseen at 0.7% from previous 0.3%.
Median CPI y/y. Data is foreseen at 3.0%. Previous was at 3.1%.
Trimmed CPI y/y. Data is foreseen at 3.2% from previous 3.2%.
Core CPI m/m. Previous 0.1%.
At 10.45pm -BOC Gov Macklem Speaks.
All above economic data could have a volatile impact on the dollar.
US
At 6.00pm-
Building Permits. Data is foreseen at 1.51M from previous 1.52M.
Housing Starts. Data is foreseen at 1.48M. Previous was at 1.52M.
At 6.30pm- FOMC Member Jefferson Speaks.
At 6.45pm- Industrial Production m/m. Data is foreseen at 0.4% from previous 0.1%.
At 10.00pm- FOMC Member Williams Speaks.
At 10.30pm- FOMC Member Barkin Speaks.
At 10.45pm- Fed Chair Powell Speaks.
All above economic data and speech could have a volatile impact on the dollar.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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