Commodity Catch-up with Ravindra Rao | 28th November 2022

Highlights of this week's Commodity Podcast:• Commodities traded mixed last week with precious metals trading flat to positive, whereas Industrial metals and oil fell.• The Chinese central bank reduced the reserve requirement ratio by 0.25%, while the FOMC minutes showed policymakers were with the view of slower rate hikes ahead.• US Dollar index fell by more than 1% after the release of the minutes.• The focus for the week will be on U.S. economic data prints including Q3 GDP, ISM Manufacturing PMI, and monthly jobs report.• Weakening data points will be negative for dollar index and positive for precious metals.• Oil witnessed wild swings in the previous week; focus will now shift to Dec 4th OPEC meeting.• Liquidity injection by the Chinese central bank in the form of a RRR cut by 0.25% might support the metals.