Three-month copper on the LME fell to $8,431.50 a tonne, the lowest since Jan. 6.

Brazilian Finance Minister Haddad: If we do not integrate monetary and fiscal policies, we will have a lot of difficulty in achieving what the Brazilian economy needs.

Brazilian Finance Minister Haddad said: Fiscal and monetary policy are not independent of each other.

According to Nikkei News: Honda and Japanese battery company GS Yuasa will jointly establish a battery factory in Japan.

Market news: Indian and Iranian defense ministers held a bilateral meeting in New Delhi.

Spot palladium fell below $1,500 an ounce, down 0.52% on the day.

Philippine Central Bank Governor Medalla: If Fed policy prevents the Philippine Central Bank from cutting interest rates, lowering the deposit reserve ratio is an option.

Russia’s central bank’s gold and foreign exchange reserves totaled US$597.1 billion in the week ended April 21, up from US$600.2 billion in the previous period.

Central Bank of the Philippines Governor Medalla: The core and chain CPI showed signs of deceleration.

ExxonMobil: Nigerian plant resumes normal operations after settling labor dispute with internal unions.

Spot silver rebounded by US$0.1 in the short term and is now at US$24.97 per ounce.

Spot gold rebounded by US$6 in the short term and is now at US$1987.02 per ounce.

[Financial website Forexlive commented on the initial value of US GDP in the first quarter] Inventories have been greatly dragged down, and yesterday’s wholesale inventory report also hinted at this. Although the market expected an increase of 2%, the later revised expectations, including the Atlanta Fed’s expectations, are all Lower, so GDP growth below 2% is not too surprising, which is why the dollar strengthened against the yen. Also, consumer data was strong, which is positive going forward. A surprise rise in inflation data, including core personal consumption expenditures, also helped boost the dollar against the yen.

Non-US currencies continued to fall. The euro against the US dollar EUR/USD fell by 47 points in the short term, and is now reported at 1.1013; 1.3631; New Zealand dollar NZD/USD fell 25 points in the short term and is now at 0.6141.