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A lower-than-expected UK year-on-year CPI (expected 9.1%, previous 7.0%), to be released on 18 May, would set toppish inflation expectations and additional demand for the precious metal amid the prolonged war in eastern Europe.
Global Markets: Asian Stock Markets : Nikkei up 0.45%, Shanghai Composite down 0.34%, Hang Seng up 0.12%, ASX up 0.25% Commodities : Gold at $1791.18 (-0.94%), Silver at $20.91 (-0.44%), Brent Oil at $109.87 (-1.51%), WTI Oil at $107.25 (-1.27%) Rates : US 10-year yield at 2.926, UK 10-year yield at 1.774, Germany 10-year yield … Continue reading 16th May Monday : Asian markets mostly start the week lower
What happened across the Asia session? China’s year-on-year Retail Sales tanked -11.1% (expected -6.2%, previous 3.5%) amid the Covid-19 situation response in the country. What does it mean for Europe and US Sessions? The oil demand shock from the world’s largest consumer and importer of oil is reaffirmed by the latest dismal retail sales … Continue reading IC Markets Europe Fundamental Forecast | 16 May 2022
What happened in the US session? The US Prelim UoM Consumer Sentiment fell much more than expected to 59.1 (expected 64.1, previous 65.2). What does it mean for the Asia Session? China’s year-on-year Retail Sales (expected -6.5%, previous -3.5%) will take centre stage amid its attempt to cull the virus with the zero-covid strategy. … Continue reading IC Markets Asia Fundamental Forecast | 16 May 2022
In commodities markets, oil prices were higher against the backdrop of a pending European Union ban on Russian oil, but were still set for their first weekly loss in three weeks, hit by concerns over inflation and China’s COVID lockdowns slowing global growth.
