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The major European indices are closing with mixed results: German DAX, -0.03% France CAC, +0.04% UK FTSE 100, -0.20% Spain’s Ibex, +1.02% Italy’s FTSE MIB +0.57% For the trading week, major indices moved higher led by Spain’s Ibex.: German DAX, +0.69%. The index did reach a new all-time high at 18039.05 before rotating lower France
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ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices. Key Points: Steady Global Consumption: Global gold demand remained consistent at
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Dollar rebounded strongly overnight along with rally in treasury yields, and maintained its strength in Asian session. This resurgence is largely attributed to traders recalibrating their expectations for Fed’s monetary policy, in light of this week’s inflation data that surpassed forecasts. Both CPI and PPI reports for this week have painted a picture of persistent
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Over the weekend, the Chinese Inflation data beat expectations by a big margin: CPI Y/Y 0.7% vs. 0.3% expected and -0.8% prior. CPI M/M 1.0% vs. 0.7% expected and 0.3% prior. Core CPI Y/Y 1.2% vs. 0.4% prior. Core CPI M/M 0.5% vs. 0.3% prior. China National Bureau of Statistics (NBS) on the CPI rise:
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Yen’s pull back continues today despite more positive news on wages negotiations in Japan. Remarkably, the currency has undone its gains from last week against all major counterparts, barring the even more beleaguered New Zealand Dollar. Expectations are still leaning towards an imminent interest rate hike by BoJ; however, speculation is rife that the central
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Consolidative trading continues in the forex markets in general. There is little reaction to the batch of economic data released from there US. Comments from ECB officials were also largely ignored. For now, commodity currencies are the stronger ones for the week, as led by Canadian Dollar, while Euro is also firm. Sterling and Swiss
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