Grantham
He liked
Gold hovers below $2400 as markets price-in inflation data
Gold prices are testing the $2400 mark with key US Consumer Price Index (CPI) inflation data set to play a role in the asset’s price trajectory. Tuesday saw the release of PPI data with the US Bureau of Labor Statistics (BLS) reporting that producer prices rose more than expected, with only one data
He liked
Will the commodity boom last?
The gold and copper price both hit fresh record highs on Monday. The market is sensitive to these two metals because gold is considered an inflation hedge and a safe haven, and because copper is a metal that is linked to global growth. Copper is higher by 25% YTD, and gold is up by more than 17% so
He liked
USD/CAD extends its downside below 1.3610 ahead of Canadian CPI data.
USD/CAD trades on a softer note near 1.3605 in Monday’s early Asian session. Canada’s CPI inflation data is estimated to ease to 2.8% YoY in April from 2.9% YoY in the previous reading. The Fed is expected to keep the rate on hold until September, despite cooler-than-expected US inflation data. The
He liked
He liked
He liked
CAC 40 Declines On Weak Earnings
French stocks declined on Friday, with uncertainty over the timing of U.S rate cuts, mixed data from China and disappointing earnings updates keeping investors nervous. The benchmark CAC 40 dropped 43 points, or half a percent, to 8,145 after closing 0.6 percent lower the previous day. Re-insurer SC
He liked
Mexican Peso consolidates after rally
The Mexican Peso is trading sideways after its strong rally on Wednesday. This is probably a consolidation within an uptrend and more strength is likely for the Peso. US data was mixed on Thursday and provided a balm to Wednesday’s negative releases, supporting USD/MXN. The Mexican Peso (MXN) trades
He liked
The commodities feed: IEA sees weaker demand
Oil prices have edged higher despite the IEA revising lower its global demand growth forecasts. Instead, US macro data has provided support to the oil market. Energy – Growing divergence between OPEC and IEA demand numbers Oil prices edged higher yesterday. ICE Brent managed to settle 0.45% higher o
He liked
NZD/USD attracts some buyers above 0.6060, focus on US PPI and CPI data
NZD/USD holds positive ground around 0.6055, adding 0.32% in Wednesday’s early European session. Fed’s Powell said inflation might prove to be more persistent than expected, keeping the Fed to hold rate higher for longer. Westpac analysts anticipate the RBNZ will leave the OCR at 5.5% at its May mee
He liked
He liked
He liked
He liked
He liked
Pull-up Update