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Global economic overview

On 19 January 2016, the IMF cut its global economic growth forecast for 2016 to 3.4%. Meanwhile, Central Statistical
Organization (CSO) on 8 February projected Indias economy to grow by 7.6% during FY 201516.
US
The Federal Reserve left the target range for its federal funds rate unchanged at 0.25%0.5% during its FOMC
meeting, but did not rule out a March rate increase.
Core inflation rate increased 2.10% in December 2015 over December 2014, the highest since July 2012.
Retail sales shrank 0.1% in December from November 2015, below market expectations.
The ISM Manufacturing PMI was pegged at 48.2 in January as against 48 in December, the fourth consecutive
month of contraction in manufacturing.
Europe
ECB President Mario Draghi on 21 January signaled that the governing council could provide more stimulus at its
next meeting in March, noting that the outlook for inflation had weakened significantly.
The ECB left its key interest rates unchanged, even as low energy prices and concerns about China's effect on the
global economy threatened to derail the central bank's efforts to bring inflation back to its target.
Asia
China's economy grew 6.8% in Q4 2015 from a year earlier, easing from 6.9% in Q3 2015, the weakest since Q1 2009.
An official survey showed China's manufacturing contracted for a fifth straight month in December, while the
official manufacturing PMI stood at 49.7 in December.
The Bank of Japan on 29 January said it would apply a rate of negative 0.1% to excess reserves that financial
institutions place at the bank in efforts to revive growth in the world's third-largest economy.

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Indian economic overview

Overall, the Indian rupee depreciated against the dollar in
January 2016.
The USDINR RBI reference rate closed January 2016 at
67.8763, as against the December 2015 month close of
66.3260 (that is, m-o-m change of 2.34%)
Sustained foreign capital outflows, fall in Indian exports for
the 15th straight month through December 2015, and
pressure from the devaluation of the Chinese yuan led to
the depreciation of Indian rupee against the dollar.
IMFs forecast of a lower global growth for 2016 and the US
Federal Reserve flagging off concerns over wobbly global
markets sustained demand for the dollar

USDINR Refernce Rate

68.5000
68.0000
67.5000
67.0000
66.5000
66.0000
01 Jan

08 Jan

15 Jan

22 Jan

29 Jan

Source: RBI

India recorded a $11,664 million trade deficit in December of 2015, higher than the $9,434 million gap a year earlier, as
exports fell 15% and imports declined only 3.9%.
Indian wholesale price fell by 0.73% year-on-year in December 2015, as compared with a 1.99% drop in November.
Prices of food rose higher than in the previous month, while cost of petrol and manufactured goods declined at a
slower pace.
The all-India general consumer price index inflation inched up to 5.61% in December 2015 (new base 2012=100),
recording a rise for the fifth straight month. The core CPI inflation rose to 4.5% in December 2015 from 4.2% in
November.
India's IIP declined 3.2% in November 2015 over a year ago, driven by the high base effect with output rising 5.2% in
November 2014.
Manufacturing PMI in India increased to 51.1 in January 2016 from 49.1 in December 2015.
The Nikkei/Markit Services PMI in India rose to 54.3 in January 2016 from 53.6 in December 2015. It was the highest
since June 2014.

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Bullion
Gold
MCX Gold February 2016 Futures Contract closed January
2016 at `26,638 per 10 g, up 6.85% month on month.
Tensions in the Middle East, slump in global equities led by
the Chinese stock market, and plunging oil prices creating
uncertainties in the global economy pushed up gold prices.
U.S. Federal Reserves policy statement suggesting an
unwillingness to increase interest rates amid market
choppiness also aided the price rise.
Source: MCX

Depreciation in the Indian rupee against the dollar also

helped MCX gold price rise.
Silver
MCX Silver March 2016 Futures Contract surged by 4.36% in
January 2016, closing the month at `34,750 per kg.
Factors affecting gold price movements, such as tensions in
the Middle East, and plunging oil prices creating
uncertainties in global economy, raised the safe haven
demand for the precious metal and pushed up prices.
Like in gold, depreciation of the Indian rupee against the
dollar also helped in increasing MCX silver prices.

Source: MCX

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Base metals
Copper
MCX Copper February 2016 Futures Contract moved down
1.24% in January 2016 to close the month at `311.60 per kg.
Copper prices fell on continuing weak macroeconomic outlook
for China, given the release of weak economic data
(manufacturing, inflation and so on). The concerns were also
evident as the turmoil in Chinese stock markets affected
markets globally.
However, talks of further stimulus measures by the European
Central Bank and the Indian rupee depreciation against the
dollar kept the price fall under check.
Nickel
MCX Nickel January 2016 Futures Contract prices fell by 0.46%
in January 2016, to close the month at `579.30 per kg.
Like copper, concerns over the Chinese economy got reflected
in plummeting stock markets across the globe, casting doubt
on nickels demand, and pushed down prices.
Later, data from the World Bureau of Metals Statistics, indicated
a small deficit in the Jan.Oct. period (primarily due to a fall in
nickel output in the Philippines) helped the recovery in price.
Moreover, expectations that the European Central Bank could
bolster stimulus in March and the INR depreciation against the
USD aided the price recovery in nickel.

Source: MCX

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Base metals
Aluminium
MCX Aluminium January 2016 Futures Contract increased
by 3.59% in January, with a month-close of `103.75 per kg.
A pledge to boost demand by Chinese leaders; ECB hinting
at more stimulus measures; fall in expected aluminum
surplus for 2016, according to Harbor Intelligence; and INR
depreciation helped the rise in aluminium prices.
Lead
MCX Lead January 2016 Futures Contract fell by 1.69% in
January 2016 to close at `116.05 per kg.
Concerns over a weak Chinese economy, and WBMS data
indicating small surplus in lead for Jan.Oct. 2015, kept lead
prices under pressure.
However, hopes for more stimulus by various central banks
and the INR depreciation resisted a major fall in lead prices.
Zinc
MCX Zinc January 2016 Futures Contract was up by 2.87%
in January 2016, closing at `109.20 per kg.
Plunging Chinese equities highlighting the countrys
economic problems, kept zinc prices down initially.
Expectations of more ECB stimulus, data showing surging
Chinese zinc imports in December 15, upbeat U.S. new
home sales and INR depreciation helped zinc prices rise.

Source: MCX

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Energy
Crude oil
MCX Crude Oil Futures declined by 8.3% in January 2016 to
close the month at `2,286 per barrel.
Crude oil prices dropped on a stronger dollar and on
concerns over a global oil glut and an economic slowdown
in China that rattled global financial markets.
Expectations that Iran would add to the worlds crude oil
glut, and a statement by the chairman of the Saudi Arabian
Oil Co. that the state-run oil company could withstand low
oil prices for a long, long time, aided the decline in prices.

Source: MCX

By the month-end, hopes that Russia and OPEC would

cooperate on production cuts led to some price recovery.
Natural gas
MCX Natural Gas Futures closed the month on a flat note at
`155.90 per mmBtu.
Gas prices were volatile in December, largely on fluctuating
U.S. weather forecasts.
After the initial rise, gas prices slipped on over-supply in the
U.S. and concerns over weak demand given the forecasts for
the U.S. that suggested shorter-than-expected cold spell.
Later, gas prices recovered on shrinking gas inventories in
the U.S. and on updated forecasts predicting that the cold
spell in the U.S. could last longer than previously expected.

Source: MCX

*Prices of crude oil and natural gas refer to the most active futures contracts on MCX

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Agriculture
Crude palm oil
MCX January CPO Futures contract closed the month at
`432.50 per 10 kg, up by 5.2% as domestic inventory
witnessed a drawdown, according to trade sources.
Global palm oil production is expected to be lower in 2016
compared with the previous year due to the lagged effect of
the El Nio phenomenon, which would affect output.
Indonesia would increase its biodiesel mandate to 20%
blend, pushing prices higher, according to The Star, a
Malaysia-based online news portal.
Cotton

Source: MCX

MCX January Cotton Futures contract closed the month at

`16,260 per bale, down by 1.6%.
Prices initially fell amid subdued trading in physical market
Prices recovered after Cotton Association of India in its latest
estimates downwardly revised the 201516 cotton crop to
362 lakh bales from its earlier estimate of 370.50 lakh bales.
Trade sources suggested that active buying of Indian cotton
by Pakistan was noticed during the month.
A significant amount of sales reportedly took place from
India for the Shankar-6 variety (29 mm staple length) at
around 65.50/66.00 cents per lb, CFR Karachi, supporting the
rise in prices.

Source: MCX

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Agriculture
Cardamom
MCX Cardamom February 2016 Futures Contract rose by
1.8% in January to close the month at `770.50 per kg as
export buying remained supportive of the prices.
Continuous rise in arrivals during the early part of the month
pulled prices down.
However, steady demand from exporters and domestic
buyers and news about delay in Guatemalan crop led to the
recovery in later part of the month.
Source: MCX

Mentha oil
MCX Mentha Oil January 2016 Futures Contract fell by 4.5%
to close at `864.20 per kg on January 28, 2016.
Absence of any substantial export demand kept the
sentiment subdued.
Additionally, demand from domestic industry too remained
low keeping prices under pressure throughout the month.

Source: MCX

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MCX Top Commodities Average Turnover, Volume and Open Interest

Commodity
CRUDE OIL

Average daily Value ( Rupees crore)

January, 2016 December, 2015 January, 2015
(20 Trading
(22 Trading
(21 Trading
Days)
Days)
Days)
7,275
6,074
5,713

Units for
Volume and
Open Interest
Thousand Barrels

January 2016
December 2015
Average
Average Average Average
Daily
Daily Open Daily
Daily Open
Volume
Interest
Volume
Interest
33,643
5,575
24,068
4,950

January 2015
Average
Average
Daily
Daily Open
Volume
Interest
19,166
4,507

GOLD

5,244

4,015

5,874

Tonnes

20.10

9.10

16

21

11

SILVER

2,980

2,547

4,110

Tonnes

872

555

748

569

1,075

450

COPPER

1,569

1,531

1,953

Tonnes

51,898

25,913

49,087

23,164

54,401

20,751

ZINC

1,462

1,399

1163

Tonnes

1,42,346

28,890

1,36,589

43,035

88,252

27,661

LEAD

1,248

1,240

849

Tonnes

1,11,778

23,176

1,09,315

31,300

74,018

16,384

NATURALGAS

1,152

1,113

1,658

Thousand MMBTU

76,291

7,941

81,373

14,815

89,749

14,012

NICKEL

639

719

928

Tonnes

11,114

6,838

12,314

7,620

10,049

1,766

ALUMINIUM

573

616

648

Tonnes

57,094

28,637

61,618

28,170

57,335

19,613

COTTON

235

170

135

Bales

1,41,829

4,38,075

1,03,277

3,29,066

90,162

3,25,735

CRUDE PALM OIL

165

181

177

Tonnes

38,783

1,10,159

43,902

89,967

38,854

76,482

MENTHAOIL

82

93

114

Tonnes

933

3,902

1,029

4,186

1,524

4,231

CARDAMOM

16

13

45

Tonnes

199

229

175

180

418

245

22,639

19,710

23,366

TOTAL

Note: Data refers to all variants of each commodity

Source: MCX

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Exchange-wise market share, January 2016

NCDEX: 11.7%

NMCE: 0.3%

MCX: 87.9%
Source: Respective Exchanges' website

MCX segment-wise market share, January 2016

99.20%

100.00%

100.00%

100.00%
87.94%

80.00%
60.00%
40.00%
20.00%

14.09%

0.00%
Agri

Bullion

Source: Respective Exchanges' website

Energy

Metal

Grand Total

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Commodities
GOLD MINI
GOLD GUINEA
GOLD PETAL
CARDAMOM
MENTHA OIL
COTTON

Location
Ahmedabad
Ahmedabad
Mumbai
Vandanmedu (Kerala)
Barabanki & Chandausi (UP)
Jalna, Yavatmal, Jalgaon (Maharashtra);
Kadi, Rajkot(Gujarat); Raichur (Karnataka)

74.9 kg
2.09 kg
8.0 kg
28.4 MT
4,94,640.0 kg

Value
(Rupees crore)
18.96
0.56
2.13
2.22
50.24

9,700.0 bales

15.77

Quantity

Source: MCX

Exchange deliverable warehouse stock position as on January 30, 2016

Commodity
Delivery Centres
Quantity
Unit
CARDAMOM
Vandanmedu (Kerala)
40.00
MT
Rajkot, Kadi (Gujarat); Jalna, Yavatmal,
COTTON
41,000.00
bales
Jalgaon (Maharashtra); Raichur (Karnataka)
MENTHAOIL
Barabanki & Chandausi (UP)
4,953.25
MT
GOLD
Ahmedabad
25.00
kg
GOLD GUINEA
Ahmedabad & Mumbai
20.77
kg
GOLD MINI
Ahmedabad & Mumbai
4.90
kg
SILVER (30 KG)
Ahmedabad
18,458.68
kg
SILVER (1 KG)
Delhi
278.00
kg
Source: MCX

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Regulatory developments
SEBI Circulars / Regulations
January 29, 2016
Revision in position limits for agricultural commodities
In continuation of the SEBI circular No CIR/CDMRD/DMP/2/2016 dated January 15, 2016, the SEBI further revised the
position limits for clients and members (CDMRD/DMP/CIR/32/2016).
January 15, 2016
Reduction in daily price limits and near month position limits, and suspension of forward segment
Through the circular, the SEBI revised the daily price limits (DPL) and position limits for agricultural commodity
derivative contracts. DPL comes into force from February 1, 2016, whereas the revised position limits are applicable for
contracts expiring from March 2016 onwards (CIR/CDMRD/DMP/2/2016).
January 11, 2015
Exit policy for commodity derivatives exchanges
The SEBI has laid down the guidelines and steps for the exit policy of commodity exchanges, which among others
stipulates that if there is no trading on the platform of a commodity derivatives exchange for more than twelve
months, then such an exchange shall be liable to exit (CIR/CDMRD/DEA/01/2016).
January 01, 2016
Compliance by listed stock exchange
The SEBI circular provides detailed procedures for ensuring compliance with the Securities Contracts (Regulation)
(Stock Exchanges and Clearing Corporations) Regulations, 2012 (SECC Regulations), by listed stock exchanges
(CIR/MRD/DSA/01/2016).

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Key developments in international markets, January 2016

For the first time, Asia overtook North America as the world's top futures and options market by volume last year as
Asian exchanges saw their volumes surpass those of the US and Canada. The trading volumes of Asian exchanges
rose 20% in 2015 to touch a regional total of 7 billion contracts while their US and Canadian peers saw trading fall 6%
to 6.9 billion lots, according to Euromoney TradeData.
Many foreign banks in China have been reportedly warned that their operations would be curbed if they refused to
participate in the yuan-denominated benchmark price for gold. To be launched in April, the Chinese benchmark for
gold will be derived from a contract to be traded on the state-run Shanghai Gold Exchange.
London Metal Exchange is in talks with the World Gold Council and five banks on the possibility of introducing
futures contracts on gold as well as introducing standardized central clearing. The talks are exploratory and theres no
time frame for a decision on the contract, which would be for delivery in London.
Hong Kong Exchanges and Clearing will start new initiatives, including an onshore China commodities platform and a
way for foreign companies to launch offerings in the mainland through the Hong Kong-Shanghai Stock Connect
programme.
CME Group will launch six new WTI Houston oil futures contracts based on Argus assessments, citing increasing
demand for Gulf coast crude.
CME Group announced the first trade of Aluminum Japan Premium (Platts) futures contracts on 8 January. 622 futures
contracts were traded.
The two biggest futures exchanges are clashing with the industry regulator over its pursuit of a Chicago trading firm
for market manipulation. CME Group and ICE, together with representatives of the futures trading industry, jointly
filed a friend-of-the-court brief opposing the Commodity Futures Trading Commissions definition of manipulation
being used in a 2013 case against DRW Investments LLC and its founder, Don Wilson Jr.
European Union and U.S. regulators are nearing a deal on oversight of the $553 trillion global derivative markets that
would prevent an increase in EU capital requirements from hitting banks this year.

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Awareness programmes
In order to educate various stakeholders of the commodity markets, MCX conducted 23 awareness programmes,
apart from training programmes across the country in January 2016.

Lucknow (Uttar Pradesh)

January 09

Mumbai, January 16

Raichur (Karnataka)
January 22

Pune (Maharashtra)
January 22

Pakur(Jharkhand)
January 20

Surat (Gujarat)
January 23

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Farmers training programmes

10 training programmes were conducted that included awareness-building initiatives on the science and practices of
agriculture as well as exposure visits to farms and institutes, benefitting 278 farmers in January 2016.

Exposure visit of Mesariya (Gujarat)

January 04

Exposure visit of Ranipurwa (Uttar Pradesh)

January 28

Branch Postmasters Training

Village Babhulgaon (Maharashtra)
January 14

Village Dodgam (Gujarat)

January 28

Village Bhatodiya (Gujarat)

January 27

Village Lorwada (Gujarat)

January 29

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Global economic calendar, February 2016

(All timings in IST)
Monday

Tuesday

Wednesday

Thursday

Friday

07.15: CN HSBC Final Mfg PMI

14.30: EU Final Mfg PMI
15.00: UK Manufacturing PMI
19.00: US Core PCE Price Index/ Personal
Spending and Income
20.15: US Final Mfg PMI
20.30: US ISM Mfg PMI .

15.00: UK Construction PMI

All Day EU Halifax HPI m/m
20.30: US Factory Orders m/m/ IBD/TIPP
Economic Optimism
All Day US Total Vehicle Sales

07.00: JP Average Cash Earnings y/y

07.15: CN HSBC Services PMI
14.30: EU Final Services PMI
15.00: UK Services PMI
15.30: EU Retail Sales m/m
18.45: US ADP Non-Farm Employment Change
20.15: US Final Services PMI
20.30: US ISM Non-Mfg. PMI
21.00: US API / EIA Crude Oil Inventory Report

12.30: German Factory Orders m/m

17.30: UK Asset Purchase Facility and MPC Rate
statement/ Official Bank Rate
18.00: US Challenger Job Cuts y/y
19.00: US Unemployment Claims /Trade Balance
Prelim Non-Farm Productivity and unit Labor Costs
21.00: US Natural Gas Storage

12.30: German Industrial Prodn

15.00: UK Construction PMI and Trade Balance
19.00: US Non-Farm Employment Change/ Unemp.
Rate and Avg hourly Earnings
20.30: UK NIESR GDP Estimate

10

11

12

05.20: JP Current Account and Bank Lending y/y

07.30: CN Balance of Trade
10.30: JP Economy Watchers Sentiment
12.30: German Trade Balance
23.30: US 10-y Bond Auction

05.20: JP Tertiary Industry Activity

07.00: CN CPI y/y PPI y/y
15.00: UK Mfg Prodn and Industrial Prodn
20.30: US Whole Sale Inventories

05.20: JP Core Machinery Orders

16.00: UK BOE Gov Speaks/ Inflation Report
21.00: US API / EIA Crude Oil Inventory Report
23.31: US 30-y Bond Auction

00.30: US Federal Budget Balance

05.20: JP PPI y/y
15.30: EU industrial Prodn
19.00: US Unemployment Claims/ Core Retail
Sales m/m
20.30: US Business Inventories m/m
21.00: US Natural Gas Storage

12.30: German Prelim GDP q/q CPI and WPI

15.30: EU Trade Balance
19.00: US Import Prices m/m
20.25: US: Prelim UoM consumer Sentiment and
Inflation Expectations

15

16

17

18

19

05.20: JP Prelim GDP q/q

16.30: German Buba Monthly report
All Day Bank Holiday Presidents Day

15.00: UK CPI / PPI /RPI and HPI y/y

15.30: German ZEW Economic Sentiment
19.00: US Empire state mfg. Index
20.30: US NAHB Housing mkt.Index

05.20: JP Core Machinery Orders

15.00: UK Claimant Count Change/ MPC Meeting
Minutes and Unemployment Rate
19.00: US Building Permits/ PPI m/m/ Housing starts
19.45: US Capacity Utilization Rate and Industrial Prodn
21.00: US Crude Oil Inventory Report

02.30: US TIC Long Term Purchases

05.20: JP Trade Balance
15.30: EU Flash GDP q/q
16.30: UK CBI Industrial Order Expectations
19.00: US Unemployment Claim
20.30: US Consumer Confidence and Mortgage
Delinquencies
21.00: US Natural Gas Storage

14.30: EU Current Account / Flash Mfg and Services PMI

15.00: UK Retail Sales and Public Sector Borrowing
20.15: US Flash Mfg PMI
20.30: US CB Leading Index

22

23

24

25

26

05.20: JP Monetary Policy Meeting Minutes

14.30: German Ifo Business Climate
16.30: UK CBI Realized Sales
20.15: US Flash Services PMi
20.30: US Existing Home Sales

15.00: UK BBA Mortgage Approvals

15.30: EU Economic Forecasts and Final CPI y/y
19.30: US S&P/CS Composite-20 HPI y/y
20.30: US CB Consumer Confidence / Philly Fed Mfg
Index and Richmond Mfg Index

12.30: German GfK Consumer Climate and CPI m/m

20.30: US New Home Sales m/m
21.00: US Crude Oil Inventory Report

05.20: JP Prelim Industrial Prodn and Retail Sales

14.25: German Unemployment change
14.30: EU M3 Money supply y/y
19.00: US CPI m/m /Core Durable Goods Orders
m/m and Unemployment Claims
19.30: US HPI m/m
21.00: US Natural Gas Storage

05.00: JP Household Spending and Tokyo Core CPI

12.30: German Import Prices
15.00: UK Second Estimate GDP /Business Investment
19.00: US Prelim GDP q/q
20.30: US Michigan Consumer Sentiment and Inflation
Expectations

29
07.15: CN HSBC Final Mfg PMI
14.30: EU Final Mfg PMI
15.00: UK Manufacturing PMI
19.00: US Core PCE Price Index/ Personal Spending
and Income
20.15: US Chicago PMI
20.30: US Pending Home Sales

**Timings in IST Disclaimer: Every effort has been made in compiling the data/ information to ensure the high quality and accuracy of the content of the MCX Global Economic Calendar. Under any circumstances, MCX shall
not be liable to any user for intended/accidental errors. Users may carry out due diligence before using any data/information herein, MCX will not be responsible for any discrepancies/disputes arising out of such use. The
calendarmay also be subject to change without any previousnotice.

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Global economic calendar, March 2016

(All timings in IST)
Monday

Tuesday

Wednesday

Thursday

Friday

06.30: CN non-Mfg PMI

07.00: JP Average Cash Earning
12.30: German Retail Sales
15.30: EU PPI m/m
20.30: US IBD/TIPP Economic Optimism
21.45: US ISM Manufacturing PMI

07.15: CN HSBC Services PMI

14.30: EU Final Services PMI
15.00: UK Construction PMI
15.30: EU Retail Sales m/m
18.45: US ADP Non-Farm Employment Change
20.30: US ISM New York Index
21.00: US API / EIA Crude Oil Inventory Report

12.30: German Factory Orders

15.00: UK Services PMI
18.15: EU Minimum Bid Rate
19.00 EU ECB Press Conference
19.00: US Revised Non-farm Productivity
Unemployment Claims
20.30: US Factory Orders m/m
21.00: US Natural Gas Storage

13.30: UK House Price Index

19.00: US Non-Farm Employment Change/
Unemployment Rate/Avg Hourly
Earnings and Trade Balance

10

11

05.20: JP Current Account/ Final GDP q/q

All Day G7 Meetings
12.30: German Trade Balance
15.00: UK Consumer Inflation Expectations
23.31: US Fed Labor Market Conditions Index

07.00: CN CPI y/y/ PPI y/y and Trade Balance

15.00: UK Inflation Report Hearings
15.30: US NFIB Small Business Index
19.30: US Whole Sale Inventories

05.20: JP PPI y/y

10.30: JP Consumer Confidence
All Day CN New Loans
15.00: UK Mfg Prodn m/m and Industrial Prodn m/m
21.00: US API / EIA Crude Oil Inventory Report

05.20: JP BSI Mfg Index/ Core Machinery Orders

and Tertiary Industry Activity
11.00: CN Industrial Prodn y/y
14.30: EU ECB Monthly Bulletin
19.00: US Unemployment Claims/ Retail Sales
and Import Prices
21.00: US Natural Gas Storage
23.30: US Federal Budget Balance

15.00: UK Trade Balance

18.00: US Export Prices m/m
22.30: US 30-year Bond & 10-year note Auction

14

15

16

17

18

16.30: German Buba Monthly Report

18.30: US NAHB Housing Market Index

All Day JP BOJ Press Conference and Policy statement

14.30: German ZEW Economic Sentiment
18.00: US Retail sales MoM & YoY
19:30: US Business Inventories MoM

05.20: JP Trade Balance

15.00: UK Average Earnings Index 3m/y/
MPC Meeting Minutes / Claimant Count Change
20.00: US API / EIA Crude Oil Inventory Report
23.30: US FOMC Statement / Economic Projections
and Federal Funds Rate

00.00: US FOMC Press Conference

10.00: JP All Industries Activity
16.30: UK CBI Industrial Order Expectations
19.00: US Unemployment Claims and Current Account
20.00: US Natural Gas Storage

05.20: JP Monetary Policy Meeting Minutes

07.15: CN HSBC Flash Mfg PMI
14.30: EU Current Account/ Flash Mfg and Services PMI
15.00: UK Public Sector Net Borrowing
19.30: US CB Leading Index m/m

21

22

23

24

25

07.15: US Flash Services PMI

19.30: US Existing Home Sales
20.30: US Consumer Confidence

14.30: German Ifo Business Climate

15.00: UK CPI y/y/ PPI y/y/ RPI y/y
18.30: US S&P/CS Composite-20/HPI y/y
19.30: US CB Consumer Confidence / Philly Fed
Mfg Index/ Richmond Mfg Index

12.30: GfK German Consumer Climate

16.30: UK CBI Industrial Trends Order
19.30: US New Home Sales MoM FEB Orders
21.00: US API / EIA Crude Oil Inventory Report

05.20: Prelim Industrial Prodn / Retail Sales

14.30: EU M3 money Supply/ Private Loans
15.00: UK Retail Sales m/m
19.00: US Unemployment Claims
21.00: US Natural Gas Storage

05.20: JP Prelim Ind Prodn/ Household Spending/

Manufacturing data
12.30: German Import Prices m/m
17.00: US Final GDP q/q
19.25: US UoM Consumer Sentiment

MCX trading open only in Evening

Session (After 5:00 PM) (Holi)

MCX trading holiday

(Good Friday)

MCX trading open only in Evening

Session (After 5:00 PM) (Mahashivratri)

28

29

30

31

18.00: US Core PCE Price Index and Personal

Income and Spending
19.30: US Pending Home Sales m/m

05.00: JP Unemployment rate

13.25: German Unemployment Change
19.30: US CB Consumer Confidence

05.20: JPY Prelim Industrial Production

15.00: German Prelim CPI
17.45: US ADP Non-farm Employment Change
20.00: US API / EIA Crude Oil Inventory Report

14.00: UK Final GDP q/q

14.30: EU CPI Flash Estimate
15.00: UK Retail Sales m/m
18.00: US Unemployment Claims
20.00: US Natural Gas Storage

**Timings in IST Disclaimer: Every effort has been made in compiling the data/ information to ensure the high quality and accuracy of the content of the MCX Global Economic Calendar. Under any circumstances, MCX shall not be liable to any
user for intended/accidental errors. Users may carry out due diligence before using any data/information herein, MCX will not be responsible for any discrepancies/disputesarising out of such use. The calendarmay also be subject to change without any previous notice.

Commodity Connect is not intended as professional counsel or investment advice, and is not to be used as such. While the exchange has made every effort to assure the
accuracy, correctness and reliability of the information contained herein, any affirmation of fact in the Commodity Connect shall not create an express or implied warranty that
it is correct. Commodity Connect is made available on the condition that errors or omissions shall not be made the basis for any claims, demands or cause of action. MCX shall
also not be liable for any damage or loss of any kind, howsoever caused as a result (direct or indirect) of the use of the information or data in this Commodity Connect.
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