Fundamental Overview Gold extended the rally triggered by the soft US CPI into a new all-time high following the soft US PPI data on Thursday. The components that feed into the US Core PCE though increased the estimates for the next release. In the bigger picture though, as long as the Fed doesn’t change its […]
China’s industrial production and retail sales expanded more than expected in the January to February period driven by fiscal stimulus but the property market remained a drag on the economy. Industrial production registered an annual growth of 5.9 percent but slower than the 6.2 percent rise in December, data from the National Bureau of Statistics
Asian markets opened the week on a positive note, buoyed by stronger-than-expected economic data from China and optimism surrounding Beijing’s latest efforts to boost domestic consumption. Investors welcomed China’s “special action plan” aimed at stimulating household spending, which aligns with Premier Li Qiang’s government report last week that named consumption growth as a top priority.
The Indian Rupee gains traction in Monday’s Asian session. The weaker US Dollar broadly supports the INR, but higher crude oil prices might cap its gains. Investors brace for India’s February WPI inflation and US Retail Sales data, which are due later on Monday. The Indian Rupee (INR) strengthens on Monday. The concerns about slowing growth
China’s Zhejiang province has launched a trade-in subsidy program offering up to 15,000 RMB for new electric vehicle (EV) purchases and 13,000 RMB for gasoline-powered cars. This initiative aligns with national efforts to boost vehicle sales and promote cleaner transportation. Nationally, China has extended EV purchase tax exemptions through 2027, with a maximum exemption of
EUR/USD may find support from improving risk sentiment amid a potential ceasefire discussion between Trump and Putin this week. The US Dollar remains steady as traders exercise caution before the upcoming Retail Sales data release. The Euro strengthened after Germany agreed on a debt overhaul and a significant increase in state spending. EUR/USD remains steady
Singapore Non-Oil Exports for February 2025 +7.60% y/y expected +8.70% prior -2.10% growth in both electronics and non-electronics sales y/y exports to the U.S., Taiwan, South Korea, Malaysia and the European Union increased in annual terms y/y exports to China, Hong Kong and Indonesia declined This article was written by Eamonn Sheridan at www.forexlive.com. Source
Donald Trump’s envoy Steve Witkoff said on Sunday that he expected the US President to speak with Russian President Vladimir Putin this week, saying that Putin “accepts the philosophy” of Trump’s ceasefire and peace terms, per the Guardian. Last week, the United States and Ukraine decided to propose a 30-day ceasefire to Russia. While Putin said
Brent crude oil prices have experienced a notable decline, falling from over $80 per barrel in mid-January to around $70 per barrel, despite relatively stable and low global inventories. According to Goldman Sachs, this downturn is not primarily driven by changes in supply fundamentals but rather by a shift in market sentiment. Earlier concerns centered
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Over the weekend China announced an array of economic stimulus measures. The country’s State Council released what it calls a “special action plan” to boost domestic consumption. It’s a 30-point plan. Highlights include a boost to incomes and a childcare subsidy scheme. I’ll have more to come on this separately. On the data agenda is
UPCOMING EVENTS: Monday: China Industrial Production and Retail Sales, US Retail Sales, US NAHB Housing Market Index. Tuesday: German ZEW, Canada CPI, US Housing Starts and Building Permits, US Import Prices, US Industrial Production and Capacity Utilization. Wednesday: BoJ Policy Announcement, FOMC Policy Announcement. Thursday: Australia Employment report, PBoC LPR, UK Employment report, BoE Policy
The past week in the currency markets was marked more by consolidation than decisive moves, even as risk aversion deepened in US stock markets. Dollar’s selloff slowed and turned into a modest recovery, but there was no clear momentum for bullish trend reversal. Sentiment remained fragile, weighed down by constantly escalating trade tensions and the
