The US economy has bulldogged its way to growth in February, despite adverse weather, ongoing energy sector layoffs, adverse foreign exchange rate action and periodic talk of rising US interest rates.
The markets are facing a repeat of “irrational exuberance.”
The US recovery looks destined to sneak up on the markets, particularly with the Treasury market.
Ongoing strife in the Middle East and the likelihood of its continued escalation prompted gold futures to touch their top value in three months on Thursday, according to Bloomberg.
The currency of India marked its top gains in more than 14 days as the trade week came to a close, spurred higher by the central bank of Europe slashing borrowing costs to all-time lows, Bloomberg reports.
Another month has drawn to a close, and US economic data has continued to be mixed and largely disappointing to the trade.
The monetary unit of India endured a third consecutive trading session of losses on Tuesday amid confidence importers are increasing acquisitions of dollars as the month comes to a close, according to Bloomberg.
The decreasing value of gold is likely to prompt the biggest consumer of the precious metal in Southeast Asia to reduce demand for it by more than 50 percent, states an association cited by Bloomberg.
Confidence about continued reductions to monetary stimulus in the world’s largest economy prompted copper futures to hurtle toward their top price in seven weeks on Tuesday, according to Bloomberg.
Production of sugar in the second-largest generator of the soft commodity is poised to increase for the first time in three years as farmers are boosting planting, according to Bloomberg.