The most important anticipated economic data and events: The United States will pay investors attention to
inflation rates and the Minutes of the Federal Open Market Committee.
Additionally, data on consumer confidence in Michigan, producer prices, and export and import prices will be available.
Content:
China’s foreign exchange reserves have reached their highest levels in two years.
The most important anticipated economic data and events this week.
Hedge funds increase their bets on rising gold prices.
China’s foreign exchange reserves have reached their highest levels in two years.
China’s foreign exchange reserves increased by $19.8 billion to reach $3.246 trillion in March 2024,
surpassing market expectations that they would fall to $3.21 trillion, up from $3.226 trillion in February.
This was the largest amount since December 2021, primarily due to the dollar’s strong performance against other major currencies.
By the end of March, China held 72.74 million ounces of gold,
up from 72.58 million ounces at the end of February, marking the 17th consecutive month of increase.
This led to the value of China’s gold reserves increasing to $161.07 billion from $148.64 billion.
The most important anticipated economic data and events this week.
The United States will pay investors attention to inflation rates and the Minutes of the Federal Open Market Committee.
Additionally, data on consumer confidence in Michigan, producer prices, and export and import prices will be available.
complemented by several speeches from Federal Reserve officials.
Globally, interest rate decisions are on the agenda of the Eurozone, Canada, and New Zealand.
Europe will also focus on Germany’s industrial production and the UK’s GDP and industrial production readings for February.
Hedge funds increase their bets on rising gold prices.
Hedge funds have increased their bets on the rise in gold prices to the highest levels in four years
as the prices of precious metals hit a series of consecutive peaks.
Net long positions in U.S. futures and options gold bullion contracts rose by 13% in the week ending April 2,
reaching the highest level since 2020,
according to data released by the Commodity Futures Trading Commission on Friday.
Bets on the Federal Reserve’s shift to a more dovish monetary policy have
supported the precious metal’s price above the $2000 level for several months,
paving the way for the recent record rise characterized by sharp price movements.
The most important anticipated economic data