Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
BTC Flat at $89,300 Despite $1.02B ETF Exodus — Buy the Dip Toward $107K? 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Activity indicators in Q1 so far evidenced that public investment strengthened, partly offsetting weakness in the private sector.
Industrial production grew 5.4% YoY in Q1 so far, down from previous 5.9% gains.
Retail sales growth slowed to 10.2% YoY in Q1 so far, while Fixed asset investment increased 10.2% YoY in the same period.
China’s exports in RMB terms dropped sharply by 20.6% YoY (-25.4% in USD) in February, from 6.6% drop in January (-11.2% in USD).
Imports in RMB terms dropped 8.0% YoY terms (-13.8% in USD) from 14.4% drop previously (-18.8% in USD).
As a result, trade surplus narrowed notably to RMB209.5bn (USD32.59bn) in February.
The CPI picked up to 2.3% YoY in February, from 1.8% in January, largely pumped up by the 5.8% YoY surge in food, tobacco and liquor.
The PPI fell 4.9% YoY in February, from 5.3% drop in the prior month.
Foreign exchange reserves fell USD28.57bn to USD3.2trn in February, the lowest level since December 2011, however, the decline was smaller than the monthly drop of USD99.5bn in January.
Although CNY gaining from last two months, the above mentioned narrow trade surplus and as a result of domestic consumption (import bills likely increase) which would likely cause upside traction in USDCNY during Q2, hence we like to remain long in mid month futures on hedging grounds.
