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Dollar gains fade, EM's stronger for the day
Dollar gains fade, EM's stronger for the day
Recent dollar gains have faded today after Fed speakers' hawkish rhetoric has been the markets' main driver in the past few days. The dollar has lost ground across the board, and markets will likely turn their attention back to US Data out in the coming weeks. The rand has benefited from the softer dollar and improving risk sentiment, grinding out a 0.7% gain for the day and hovering below R18.20. Tomorrow's local CPI print is expected to show that inflation has eased to 6.9% year-on-year in March versus the 7% in February but could likely provide little volatility in the bigger scheme of things.
Positive Chinese data boosts Commodity price
The positive Chinese GDP and Production have sent metal prices on a rally today, with Palladium trading above $1,600 for the first time in some while in what is a 5% gain for the day. Platinum rose 3.3% as sentiment over the possibility of demand increasing out of the world's second-largest economy, while gold is still trading above $2,000.
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By Markets Update with TreasuryONEDollar gains fade, EM's stronger for the day
Recent dollar gains have faded today after Fed speakers' hawkish rhetoric has been the markets' main driver in the past few days. The dollar has lost ground across the board, and markets will likely turn their attention back to US Data out in the coming weeks. The rand has benefited from the softer dollar and improving risk sentiment, grinding out a 0.7% gain for the day and hovering below R18.20. Tomorrow's local CPI print is expected to show that inflation has eased to 6.9% year-on-year in March versus the 7% in February but could likely provide little volatility in the bigger scheme of things.
Positive Chinese data boosts Commodity price
The positive Chinese GDP and Production have sent metal prices on a rally today, with Palladium trading above $1,600 for the first time in some while in what is a 5% gain for the day. Platinum rose 3.3% as sentiment over the possibility of demand increasing out of the world's second-largest economy, while gold is still trading above $2,000.