Gold is rising in value on Monday morning as a safe haven asset amid high inflationary pressures in the U.S., trading data showed. The price of June gold futures on the Comex Exchange in New York is up $11, or 0.56%, to $1,985.9 a troy ounce this morning. Silver futures for May delivery are up 1.19% to $26.01 an ounce. The gold price is supported by high inflation in the U.S. Thus, the annual...

According to a news statement from the US Commerce Department, retail sales in the United States increased 0.5 percent in March over February. DailyFX polled analysts, who expected rise of 0.6 percent. Retail sales grew 0.8 percent in February, not 0.3 percent as previously reported, according to a fresh estimate from the Commerce Department. In March, retail sales excluding autos and...

Taiwan Central News Agency: over 160 companies have suspended production. More than 160 Taiwanese companies have been forced to suspend production due to the ongoing lockdown in the cities of Shanghai and Kunshan in eastern China due to an outbreak of the coronavirus infection, the island's Central News Agency reported, citing the Taiwan Financial Supervision Commission (FSC). FSC Securities...

Sales of new cars in China, the largest market in the world, collapsed in March due to new coronavirus restrictions. In relation to March of the last 2021, sales fell by 11.7% and amounted to 2.23 million cars, Reuters writes. According to the Chinese Association of automakers, the lockdown, which was the largest so far, did not affect interest in electric vehicles: their sales in China have...

The World Bank has released a report with economic estimates for Europe and Central Asia. Ukraine's GDP may fall by 45.4 percent in 2022 as a result of the conflict, while Russia's GDP may fall by 11.2 percent. According to the World Bank's latest economic estimate, emerging markets and countries in Europe and Central Asia will bear the brunt of the impacts of the war in Ukraine and sanctions...

The volume of retail sales in the euro area in February rose by 0.3% compared to January, according to a press release from the European statistical agency Eurostat. Analysts polled by DailyFX expected growth of 0.6%. Year-over-year retail sales in the euro area rose 5 percent in February. Analysts expected growth of 4.8%. In the European Union retail sales in February increased 0.3% compared...

Insiders at Chinese companies were selling large shares shortly before their prices plummeted, thereby avoiding losses of at least $10 billion over the five years from 2016 to 2021, the researchers found after reviewing Securities and Exchange Commission documents. U.S. researchers analyzed documents filed with the Securities and Exchange Commission (SEC) from 2016 through 2021.  They...

OPEC+ has excluded IEA data from its calculations, replacing it with Wood Mackenzie and Rystad. OPEC+ has excluded data from the International Energy Agency (IEA) from its calculations on the oil deal, replacing them with information from analytical companies Wood Mackenzie and Rystad Energy, according to a report by the alliance's technical committee. "The technical committee has replaced,...

Gita Gopinath, the International Monetary Fund's (IMF) First Deputy Managing Director, suggested that sanctions on Russia adopted in response to the military operation in Ukraine could erode the dollar's dominance. "The dollar would remain the major global currency even in such a situation," Ms. Gopinath told the Financial Times, "but fragmentation at a lesser level is probably plausible." Ms....