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Economic Calender, March 2nd
EPISODE #5Sunday, March 2, 2025Global Economic Indicators
Several key economic data points were released today:
New Zealand: The Overseas Trade Index declined by 1.5% quarter-over-quarter, contrasting with the anticipated 2.4% increase.
Australia:
The Melbourne Institute's Inflation Gauge remained flat month-over-month, following a 0.1% rise previously.
ANZ Job Advertisements grew by 0.2% month-over-month, indicating stable labor market conditions.
Company Operating Profits surged by 1.7% quarter-over-quarter, rebounding from a 4.6% decline in the prior quarter.
Japan: The Final Manufacturing PMI stood at 48.9, unchanged from the previous reading, signaling continued contraction in the manufacturing sector.
China: The Caixin Manufacturing PMI rose to 50.4, slightly above the expected 50.1, indicating modest expansion in factory activity.
Impact on the U.S. Dollar Index (DXY)
The U.S. Dollar Index (DXY), which measures the dollar's strength against a basket of major currencies, may experience limited immediate impact from these data releases. However, the ongoing contraction in Japan's manufacturing sector and modest expansion in China's manufacturing activity could influence investor sentiment, potentially affecting currency markets. Additionally, Australia's rebound in company profits may bolster the Australian dollar, which could exert slight downward pressure on the DXY.
Commodity Market Updates
Gold: Spot gold prices are approximately $2,841.56 per ounce, reflecting a 2.5% decline over the past week, marking the largest weekly drop since November.
reuters.com
Silver: Trading at around $30.99 per ounce, silver has also experienced a downturn, influenced by a stronger U.S. dollar and investor anticipation of upcoming U.S. inflation data.
goldprice.org
Bitcoin: The cryptocurrency market has seen fluctuations, with Bitcoin prices experiencing volatility amid broader economic uncertainties.
Stay tuned for more market updates! 🎙️📉 #Forex #Markets #Trading.
If you enjoy these updates, consider supporting the podcast at Buy Me a Coffee! ☕🚀 [https://buymeacoffee.com/jicoing]
View all episodes
By Jayanjan MukherjeeEPISODE #5Sunday, March 2, 2025Global Economic Indicators
Several key economic data points were released today:
New Zealand: The Overseas Trade Index declined by 1.5% quarter-over-quarter, contrasting with the anticipated 2.4% increase.
Australia:
The Melbourne Institute's Inflation Gauge remained flat month-over-month, following a 0.1% rise previously.
ANZ Job Advertisements grew by 0.2% month-over-month, indicating stable labor market conditions.
Company Operating Profits surged by 1.7% quarter-over-quarter, rebounding from a 4.6% decline in the prior quarter.
Japan: The Final Manufacturing PMI stood at 48.9, unchanged from the previous reading, signaling continued contraction in the manufacturing sector.
China: The Caixin Manufacturing PMI rose to 50.4, slightly above the expected 50.1, indicating modest expansion in factory activity.
Impact on the U.S. Dollar Index (DXY)
The U.S. Dollar Index (DXY), which measures the dollar's strength against a basket of major currencies, may experience limited immediate impact from these data releases. However, the ongoing contraction in Japan's manufacturing sector and modest expansion in China's manufacturing activity could influence investor sentiment, potentially affecting currency markets. Additionally, Australia's rebound in company profits may bolster the Australian dollar, which could exert slight downward pressure on the DXY.
Commodity Market Updates
Gold: Spot gold prices are approximately $2,841.56 per ounce, reflecting a 2.5% decline over the past week, marking the largest weekly drop since November.
reuters.com
Silver: Trading at around $30.99 per ounce, silver has also experienced a downturn, influenced by a stronger U.S. dollar and investor anticipation of upcoming U.S. inflation data.
goldprice.org
Bitcoin: The cryptocurrency market has seen fluctuations, with Bitcoin prices experiencing volatility amid broader economic uncertainties.
Stay tuned for more market updates! 🎙️📉 #Forex #Markets #Trading.
If you enjoy these updates, consider supporting the podcast at Buy Me a Coffee! ☕🚀 [https://buymeacoffee.com/jicoing]