Commodities To Extend Gains
Dalal Street Investment Journal|March 13, 2023
Hotter-than-expected inflation numbers in some of the euro zone's largest economies, better-thanexpected services PMI in the UK and EU, along with some dovish comments by a Fed official reversed gains in the Dollar index.
Commodities To Extend Gains

In the week ending March 3, markets were more erratic as a fresh batch of positive US economic statistics impacted risk appetites and investors grew more optimistic about stimulus announcements at China's National People's Congress.

After four weeks of advances, the Dollar index ended the week with a small dip. It had increased by 2.7 per cent at the end of February, marking the first monthly growth since November 2022. The dollar rose to a seven-week high of 105.359 throughout the week as US statistics and Fed officials' reiteration of their hawkish position increased the likelihood that interest rates will rise in the US for an extended period.

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