The US dollar Vs Chinese stimulus

Retail sales in the US rose more than expected. Producer prices, led by energy, surprised on the upside. Weekly jobless claims rose by less than expected. Every aspect is indicating that the US economy remains resilient. What does it implicate?? Fed can keep interest rate elevated for a longer period. The dollar index rose by more than 0.5% on Thursday to cross 105, the highest since March after recent data. The yield on the 10-year US Treasury note rose toward the 4.3% mark, heading near the 15-year high of 4.34%.

China's offshore yuan weakened today, after the PBoC said it would?cut banks' reserve requirement ratio, like Indian CRR, by 25 basis points. How much is it worth? 500 billion RMB will be injected into the market by this move. August data in China suggests we may have hit the bottom and are about to see a turnaround in metal demand.

The ECB hiked interest rates for the 10th time today. Inflation has started to decline but is still expected to remain too high for too long, so immediate slackening appears difficult.?

Brent crude rose above $92 per barrel amid expectations that the oil market will tighten further in the coming months. The extended supply cuts by Saudi Arabia and Russia will mean a substantial market deficit at the least till Q4’ 2023. Gold slipped to around $1,905 an ounce as the latest economic data from the US and ECB weighs on. nbsp;Copper prices rose today as a reflection of China’s intent to support economic recovery. 3M copper on the LME was up 0.5% at $8,465 a ton. 3M LME ali was up 0.8% at $2,235 a ton. In other metals soldering metal, tin, galvanising metal, zinc, sister metal lead and electroplating metal, nickel jumped today.