Some positive comments made by the US Federal Reserve Chair
Chinese inflation slowed more-than-expected to an 18-month low in April, while the negative trend in producer prices persisted for the 26th straight month, providing the government scope to introduce more stimulus to achieve its 7.5% growth target.
German exports in March declined at the fastest pace since last May, and imports fell for the first time this year, as the
Gold for June delivery, the most actively traded contract, dropped
Gold for June delivery scaled an intraday high of
Yesterday, gold ended lower amid some positive data from the US and
The dollar index, which tracks the US unit against six major currencies, traded at 79.87 on Friday, up from its previous close of 79.44 late Thursday in North American trade. The dollar scaled a high of 79.89 intraday and a low of 79.42.
The euro traded lower against the dollar at
In economic news from the US, wholesale inventories rose more than expected in March, a report from the
Meanwhile, industrial output dropped slightly by 0.1%, largely due to a plunge in oil and gas extraction. Production was forecast to decrease 0.2% after rising 0.8% in February.
German exports fell 1.8% month-on-month in March, sharper than the 1.3% fall seen in February, data from Destatis revealed Friday. Economists had forecast a 1.3% rise. Imports slid 0.9% on a monthly basis, the first fall in three months, reversing a 0.4% rise in February. Economists expected a 0.6% increase for March.
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