Commodity Catch-up with Madhavi Mehta | 25th July 2022

Highlights of this week's Commodity Podcast:- Commodities end 5-week losing streak as the US dollar succumbs to profit taking.- Gold recovers from March 2021 lows to end higher.- Industrial metals end higher led by nickel; crude ends little changed.- The US dollar index ended lower marking its first decline in four weeks; disappointing US data and reduced safe haven buying weighed on the US dollar.- US DJIA index ended higher for the second time in three weeks; Chinese markets recovered after two weeks of losses.- ECB raised interest rate by 0.5% to bring inflation under control; Bank of Japan reaffirms support for accommodative policy.- US services PMI fell to 47 in July reflecting contraction in the sector.- ADB cut GDP growth forecast for developing Asia from 5.2% to 4.6%.- WHO declared monkeypox a global health emergency with cases reaching 75 countries.- Key events in the coming week include Fed decision, US GDP and consumer confidence data, and Euro-zone CPI.