Globe Capital Research Report

Tata Steel and the U.K. Government have announced an agreement to invest in Electric Arc Furnace steelmaking at the Port Talbot site with a capital cost of £1.25 billion, inclusive of a grant from the U.K. Government of up to £500 million, subject to conditions.

ENERGY- US crude prices above $90/bbl ignite inflation worries  

Bullions counter may witness some bounce back at lower levels as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world's top bullion consumer.

China’s economic activity gathered pace in August amid a summer travel boom and in the wake of a stimulus push. Industrial production rose 4.5% from a year earlier while retail sales jumped 4.6%, the National Bureau of Statistics said Friday. Both figures significantly exceeded economists’ estimates and were above the gains recorded in July. Fixed-asset investment grew 3.2% in the first eight months of the year from the same period in 2022, slower than in the January-to-July period as the property sector remained a drag. The urban jobless rate was 5.2% in August, slightly lower than the previous month.

BULLION – Gold steady as markets cautious ahead of ECB decision, US data  

Bullions counter may trade on subdued path as the dollar and Treasury yields firmed up. Meanwhile the U.S. inflation data cemented the case for a Federal Reserve rate pause next week.