Oil and Gold Gain Traction as Commodity Traders Gauge Data Numbers

"Commodity markets around the world saw shifts in risk attitudes, keeping a close eye on inflation updates from the U.S. and China amidst rising geopolitical unrest in the Middle East. "

In the past fortnight, the U.S Dollar Index showed erratic movements, swinging between ups and downs as investors anticipated hints of U.S. inflation easing. Such a trend might suggest a sooner-than-expected rate reduction by the Federal Reserve. However, U.S. inflation rates exceeded forecasts, resulting in an immediate boost in both the dollar and U.S. 10-year treasury yields, climbing over 102.7 and 4 per cent, respectively. Over a year, US CPI and Core CPI climbed by 3.4 per cent and 3.9 per cent, surpassing predictions of 3.2 per cent and 3.8 per cent.