This week’s US inflation report brought back memories of the 1980s, with gold and silver reacting positively to the news despite a stronger US dollar and higher real US bond yields. Higher energy prices are the dominant driver of inflation, which will remain elevated in the short term but should decline again in the medium
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Empire manufacturing index rebounds strongly The New York Fed Empire State manufacturing index came in at 24.6 versus -11.8 in March. The estimate was for a rise to 0.50. Much better-than-expected report as new orders, prices paid (a new record), shipments lead the way higher. New orders 25.1 versus -11.2 in last month prices paid
Commodity markets should be tracked for potential macroeconomic risks, Dallas Federal Reserve analysts said in the latest sign that liquidity concerns in the sector have caught the eye of central banks and regulators. “Ongoing developments in commodities should be monitored for potential impacts on financial conditions broadly,” according to the note from Dallas Fed economists,
Capacity utilization continues its recovery higher US industrial production +0.9% versus 0.4% estimate prior month revised to 0.9% from 0.5% US capacity utilization 78.3% versus 77.8% estimate last month revised to 77.7% from 77.6% manufacturing output for March increased 0.9% versus 0.6% estimate. Last month saw an increase of 1.2% industrial production year on year
New Delhi: Commodity Participants Association of India (CPAI) on Tuesday said uniform trading time for all markets including stocks, bonds, currency and commodities may not be tenable for the commodity derivative segment. The remarks come in the wake of media reports suggesting that the Reserve Bank of India (RBI) and the Securities and Exchange Board
CPI +4.5% vs +4.5% y/y prelim The preliminary report can be found here. No change to the initial estimates as French inflation surges higher, owing much to a sharp acceleration in energy prices. That said, food prices also has increased significantly compared to the same period last year as price pressures in general are pushing
New Delhi: Gold declined by Rs 179 to Rs 52,358 per 10 grams in the national capital on Tuesday, reflecting an overnight fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal finished at Rs 52,537 per 10 grams. Silver also went lower by Rs 317 to Rs
In the US business inventories +1.5% versus +1.3% estimate prior month revised to +1.3% from 1.1% retail inventories increased +1.4% retail inventories prior month revised to +1.7% from +1.2% Sales not adjusted for price changes were up 1.0% from January 2022. Sales year on year are up 18.8% from February 2021 the inventory to sales
April 13: Gold prices were flat on Wednesday, after gaining as much as 1% in the last session, as Treasury yields eased after U.S. inflation data and concerns over Ukraine conflict supported safe-haven bids, while a firm dollar capped bullion‘s gains. FUNDAMENTALS * Spot gold was little changed at $1,964.70 per ounce by 0136 GMT,
Euro is knocked down in early US session after ECB left interest rates unchanged. The central bank leaves the option to continue the asset purchases program after June, even though it will be concluded in Q3. The announcement disappoints some Euro traders who are eager for more hawkish tone. At the time of writing, Aussie
USD/JPY is tracing lower, down 0.3% to 125.25 as price backs further away from the potential break above 126.00 yesterday. It seems like the ‘peak inflation’ trade is playing out after the US CPI report earlier in the week and the drag on Treasury yields is also weighing on the dollar over the past few
LONDON – The full impact of sanctions and buyer aversion to Russian oil will take full effect from May onwards, the International Energy Agency said on Wednesday. Still, lower demand amid a COVID-19 surge in China, output increases from OPEC+ producers and beyond along with the largest ever draw on emergency oil storage by the
Dollar dropped notably overnight together with pull back in benchmark treasury yield. The selling of the greenback continued in Asian session today. Even the weak Yen is recovering against Dollar, but it’s still, for now, the worst performing one for the week. On the other hand, European majors are making a comeback, with Sterling leading
Markets: Gold up $10 to $1976 WTI crude oil up $3.72 to $104.32 US 10-year yields down 3 bps to 2.69% S&P 500 up 49 points to 4446 GBP leads, NZD lags We got a taste of the peak inflation trade yesterday but the market dove in today. Late in the day, the Fed’s Waller
New Delhi: Gold prices in the national capital on Wednesday jumped Rs 435 to Rs 52,941 per 10 grams, reflecting a rally in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 52,506 per 10 grams. Silver also zoomed by Rs 1,331 to
Dollar is trading broadly higher today, with help by upside breakout against Yen. The greenback on remains firm after record PPI reading. Sterling is currently the second strongest, followed by Euro. On the other hand, New Zealand Dollar is trading as the worst performing, even after RBNZ’s 50bps hike. Kiwi followed by Aussie and and
The RBNZ hiked its OCR by 50 bps earlier in the day, bringing that to 1.50% in a supposedly more hawkish move. But yet, the kiwi has fallen down by 0.9% now against the dollar to below 0.6800 after an initial jump to 0.6900. What gives? Let’s take stock of the situation. For one, local
NEW DELHI: Gold prices were trading almost flat on Wednesday, after sharp gains in the previous session, as a firm US dollar capped the bullion’s upside. Weak treasury yields after US inflation data and concerns over the Ukraine conflict, meanwhile, supported the buying in the yellow metal. Gold futures on MCX dipped 0.11 per cent