Gold Prices Push Into Positive Territory After In-Line Rise In US CPI

Gold Prices Push Into Positive Territory After In-Line Rise In US CPI

Inflation rate for "pan, tobacco and intoxicants" eased to 7.34 per cent in February, while housing inflation was recorded at 8.28 per cent in February. A stronger than expected inflation report could be the catalyst that drives prices out of the current trading range.

Slovakia's 10-year bond yield rose as much as five basis points and the cost of insuring exposure to its debt hit the highest in nearly three months as the country's government inched towards collapse. The energy index also rose modestly though its component indexes were mixed.

India's retail inflation fell to 4.44% in February driven by easing prices of food and vegetables.

Auto prices restrained inflation, as the cost of new vehicles fell 0.5% in February, the most since 2009, while used cars and trucks were down 0.3%, breaking a four-month streak of gains. Capital goods output grew by 14.6 per cent in January as against a contraction of 0.6 per cent in the same period a year ago. It grew 8.7 per cent during the month compared with 2.5 per cent in January 2017. Price increases have largely remained below that goal in recent years. The Fed tracks a different index, the personal consumption expenditures price index excluding food and energy, which has consistently undershot the central bank's 2 percent target since mid-2012.

As inflation slowly makes its way into the supply chain, retail apparel prices increased 1.5% in February following a 1.7% rise in January, the U.S. Bureau of Labor Statistics reported Tuesday in its Consumer Price Index (CPI). Moreover, core inflation is sticky at around 5%, while an imposition of more tariffs on some imports like mobile phones is likely to boost price pressures, and may prompt RBI to wait and watch. Economists expected a 2.3% increase in overall inflation and core prices to rise 1.9%. Moreover, the manufacturing which has a weight of 77.63 per cent in the IIP is showing the sustenance of the growth momentum. Also, private sector data showed local passenger vehicle sales grew 7.8% in February from a year ago, highlighting steady demand in the economy.

The mining sector, however, registered negligible growth of 0.1 per cent, as compared to 8.6 per cent rise in January previous year.

The yen tends to suffer in an environment when riskier and higher-yielding assets are bid but Morgan Stanley strategists said in a note that a further deterioration in the political situation that affected the position of Abe, could see the yen "forcefully return towards its previous upward trend".

Tuesday's report follows the Labor Department's February jobs report last week, which showed average hourly earnings for private-sector workers rose 2.6% in February from a year earlier, a slight pullback from the 2.8% annual wage gain in January. The RBI targets inflation over the medium term at 4 percent with an upper limit of 6 percent and a lower threshold of 2 percent. In February 2017, however, it was 3.65 per cent.

Related Articles

  • Jonathan Stewart to join Dave Gettleman's Giants

    Jonathan Stewart to join Dave Gettleman's Giants

    Gallman finished his rookie year of 2017 with 476 rushing yards on 111 carries (4.3 yards per carry) but no touchdowns. In his junior year at Oregon, Stewart rushed for 1,722 yards and nine touchdowns before he chose to jump to the NFL .
    WR John Brown plans to join Ravens

    WR John Brown plans to join Ravens

    He had 1,003 yards and seven touchdowns in 2015, his second season, but didn't have more than 517 yards the past two seasons. Brown, a third-round pick out of Pittsburg State in 2014, also missed six games with a toe injury previous year .
    Windows 10 Spring Creators Update Release Due In April

    Windows 10 Spring Creators Update Release Due In April

    This is the second ISO for Windows 10 Redstone 4 , the next version of the operating system expected to arrive in April . You can refer to our tutorials on how to create bootable USB drive and how to do a fresh Windows 10 installation .
  • Teva Pharmaceutical Industries Limited (TEVA) now has a monthly volatility of 3.72%

    The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) earned "Underperform" rating by Wells Fargo on Friday, January 5. Clal Insurance Enterprises Holdings Ltd bought 88,151 shares as the company's stock declined 15.11% while stock markets rallied.
    3 rural IL  men charged with Minnesota mosque bombing

    3 rural IL men charged with Minnesota mosque bombing

    McWhorter claimed it was Hari's idea to target a mosque, with the intention to "scare them out of the country". Charges state Hari sometimes resides with his parents because his home has no electricity or running water.

    Purchases 1600 Shares of Berry Global Group Inc (NYSE:BERY)

    CASPER MARC N sold 50,000 shares worth $9.59M. $511,511 worth of Thermo Fisher Scientific Inc. (NYSE:LOW) for 266,600 shares. Keybank National Association Oh owns 0% invested in Penske Automotive Group, Inc. (NYSE:NWL) or 609,581 shares.
  • Cousins to Vikings, Keenum to Broncos while Jets seek Teddy

    Cousins to Vikings, Keenum to Broncos while Jets seek Teddy

    The quarterback reports started with the Denver Broncos attracting Case Keenum for a two-year, $36 million contract . However, next offseason there will be several talented, even Pro Bowl-caliber players in line for new deals.

    VMware (NYSE:VMW) Rating Lowered to Hold at Stifel Nicolaus

    The price to earnings ratio for VMware, Inc . (NYSE: VMW ) rating on Friday, August 25. (NYSE: VMW ) rating on Monday, August 14. Its down 0.10, from 1.05 in 2017Q2. 116 funds opened positions while 640 raised stakes. 22,515 are owned by Jarislowsky Fraser.

    Stock'S Earning Overview Chevron Corporation (CVX)

    The oil and gas company reported $0.73 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.27 by ($0.54). Oregon Public Employees Retirement Fund bought 4,560 shares as the company's stock declined 3.45% while stock markets rallied.
  • Jaguars expected to re-sign wide receiver Marqise Lee

    Jaguars expected to re-sign wide receiver Marqise Lee

    The Jacksonville Jaguars chose to let top wideout Allen Robinson hit the open market, and they lost him to the Chicago Bears . The Jaguars also signed second-year wide receiver Shane Wynn, the team announced.
    Dinner boost to Opposition unity

    Dinner boost to Opposition unity

    TMC's Derek O'Brien, who had initially planned to come, took the evening off to celebrate his birthday. However, Congress leader Randeep Surjewala played down the motive behind holding the dinner.
    Manafort could face 'rest of life in prison,' judge says

    Manafort could face 'rest of life in prison,' judge says

    Ellis also wrote that Manafort has the means to escape and would certainly try to do so given the opportunity. The judge also ordered that Manafort pay $10 million if he fails to appear in court, Politico reported .