Consumer Price Index (CPI): The first high-impact data release of the week will be Tuesday’s CPI report from the US. Cleveland Federal Reserve Bank President Loretta Mester said on Friday that she sees upside risks to the inflation forecast and voiced her support for tapering to start before the end of the year. On a similar note, Atlanta Federal Reserve President Raphael Bostic noted that it would be appropriate to taper sometime this year.
Neal Bhai
MCX Natural Gas Blast 342 to 369.90 | Neal Bhai Reports
MCX Natural Gas yesterday settled up by 7.79% at 362.5 driven by a bullish mix of expectations for higher demand due to warmer weather projections and sustained outages due to storm Ida while also tracking a rally in global gas prices.
Gold bears look to $1,758, ECB PEPP verdict in focus
Gold justifies the technical breakdown amid sour sentiment during early Thursday. That said, the yellow metal holds lower ground near $1,790, the lowest in two weeks by the press time. Fed tapering woes, virus-led economic fears and stimulus chatters keep bears hopeful.
Stocks For Today: ONGC, Infosys, TCS, Jindal Steel, SBI Life, UCO Bank, BASF India
Business News Today Stocks For Today: India’s stock benchmarks closed little changed on Wednesday after fluctuating between gains and losses in a volatile session, as gains in banking, consumer durables and power stocks were offset by losses in I.T., telecom and auto stocks.
MCX Natural Gas Short Covering Zone; Target 370+++ | Neal Bhai
MCX Natural Gas yesterday settled up by 0.29% at 341.7 as significant output remained offline in the aftermath of Hurricane Ida, exacerbating supply concerns in an already tight market.