Closeup on markets ahead of US PPI Data and Powell's speech

Precious metals shine despite strengthening US dollar, as markets are cautious ahead of inflation figures

By Farah Mourad | 14 May 2024

Market open
  • Japanese indices React to Japan's PPI Inflation and BOJ Speculation

  • European index futures indicate a slightly lower opening

  • UK employment data supports British Pound

Stock Market

Across global markets, yesterday's movements were mixed, reflecting a diverse array of factors impacting various regions and asset classes. The main spotlight was on the soaring performance of 'Meme stocks'. Turning to Asia session today, the Nikkei and Kospi edged higher As Japan's PPI inflation for April slightly exceeded expectations, coming in at 0.9% YoY and 0.3% MoM. Japanese stocks good opening is also supported by the speech of a former BOJ executive suggesting that the bank of Japan might postpone its next rate hike until September to gather more economic data, especially regarding wage.

European index futures suggest a slightly lower opening for today's cash session.


the US Dollar performed the best, while the Japanese Yen and Australian Dollar lagged. However, today's market sentiment is also influenced by the surprising UK employment data, which saw a substantial decrease in employment figures alongside an uptick in wage growth, which supported the British Pound.

Precious Metals

Despite a strengthening US Dollar, precious metals traded higher, yet silver witnessed the best rally in prices. Gold prices strengthened ahead of the US PPI data release and Fed Chair Powell's speech, with traders cautious amid expectations of key inflation figures and potential remarks on monetary policy.