The Chinese producer price index rose to 1.7% in February to surpass expectations and mark the fastest pace in over two years, official data showed. Economists predicted the index to increase 1.5% last month from 0.3% in January.The latest data raises expectations of higher global prices as factories hike prices for exports. Chinese producer prices have already been a major … [Read more...] about China Producer Prices Climb to Two-Year Highs, Spurring Global Inflation Risks
Forex News
Gold Price Retreats Even as Inflation Expectations Soar
The gold price has struggled in the past few weeks as the US Treasury yields rise. It is trading at $1,715, which is the lowest it had been since June last year. Gold as an inflation hedge? The price of gold has dropped by more than 17% since August last year. In the same period, Bitcoin and US equities have tested their all-time highs. Ironically, the … [Read more...] about Gold Price Retreats Even as Inflation Expectations Soar
U.S. Logs 379,000 Additional Jobs in February as Lockdown Restrictions Ease
Nonfarm payrolls in the United States grew by 379,000 in February to bring the unemployment rate down to 6.2%, the Labor Department reported. The latest readings compare with market expectations of 210,000 new jobs and unemployment rate of 6.3%.The number of employed Americans fell 8.5 million from a year ago. The labor force increased by 50,000 but the participation rate … [Read more...] about U.S. Logs 379,000 Additional Jobs in February as Lockdown Restrictions Ease
Oil Prices Surge 2% as OPEC+ Extends Output Cuts
Oil prices surged by over 2% on Friday to mark nearly 14-month highs after producing countries agreed not to increase supply, according to Reuters. Brent crude futures climbed $1.75 or 2.6% at $68.49 a barrel by 1250 GMT. West Texas Intermediate (WTI) crude futures jumped $1.49 or 2.3$ to $65.32 on track for weekly gains. Both contracts grew by more than 4% on Thursday.The … [Read more...] about Oil Prices Surge 2% as OPEC+ Extends Output Cuts
China Sets Conservative 6% GDP Target Below Analyst Consensus
China has set a conservative economic growth target of 6% in 2021 to fall significantly below the analyst consensus of 7%, according to Reuters. Chinese Premier Li Keqiang said the target took into account the recovery of economic activity after the peak of the COVID-19 pandemic. China's GDP expanded 2.3% in 2020, the weakest in 44 years. It is the only major economy to … [Read more...] about China Sets Conservative 6% GDP Target Below Analyst Consensus
