How Will USD React To The US PPI?
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
Monday News: Commodities Price Issues
While Russia is becoming an economic outcast despite its rich commodities, the rest of the world is starting to feel the effects of the sanctions.
XBR rose 10% after briefly hitting $139 a barrel. The resistance now is 130.00, the support is 123.80.
High energy prices threaten to dampen global growth, and this risk is causing market turmoil.
Palladium and copper hit historic highs, for example, palladium is $3000. Gold retreated to $1980 after touching $2000.
Grain, metals and energy have risen on fears of chaos in the flow of raw materials due to the invasion and sanctions against Russia, which turn the resource giant into a global outcast.
Commodity-linked currencies, such as the Australian dollar, have strengthened. Now it’s on $0.74260 level.
A growing number of companies have curtailed their operations in Russia, including streaming giant Netflix Inc. and social media service TikTok, owned by China's ByteDance Ltd.
CHF retreated against the dollar after a board member of the Swiss National Bank said it was ready to intervene to stop the rapid advance. USDCHF is approximately $0.92075.
Have a good trading day!
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Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
Latest news
What Will Bring the Core PCE Price Index Release?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The Big Release for the USD
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
