Commodities

The US dollar remained near three-week lows as Federal Reserve Chair Jerome Powell adopted a cautious stance during his testimony to Congress, highlighting the need for “greater confidence” in declining inflation before considering a rate cut. Powell acknowledged the cooling labor market, but the upcoming Consumer Price Index (CPI) report …

The U.S. dollar remained near a three-week low on Wednesday, despite slight gains, as Federal Reserve Chair Jerome Powell’s cautious tone in his testimony to Congress tempered risk sentiment. Meanwhile, the New Zealand dollar weakened on the prospect of a rate cut. Powell’s Testimony and Market Reaction In his first …

The USD Index (DXY) surged past the 105.00 and flirted with the interim 55-day SMA amidst a decent uptick in US yields. The second semi-annual testimony by Chair J. Powell to the Congress is due on July 10, along with weekly Mortgage Applications, Wholesale Inventories and speeches by the Fed’s …

WTI backslid to $81.00 as energy market concerns weigh heavy. API reported a second, albeit smaller drawdown in US Crude Oil supplies.the Chinese demand remains lower than expected in 2024, risk bid from Beryl evaporates. West Texas Intermediate (WTI) US Crude Oil extended a near term decline on Tuesday, falling …

Following Powell’s Senate testimony, which suggests a cautious approach to rate cuts, gold prices jump beyond $2,360. Although DXY gains 0.14%, the rate on the US 10-year Treasury increases to 4.296%.During Tuesday’s North American session, gold prices marginally increased following remarks made by Federal Reserve Chair Jerome Powell before the …

Oil prices remained relatively stable on Tuesday as the impact of Hurricane Beryl on a major U.S. oil-producing hub in Texas proved less severe than initially feared. The storm, which weakened into a tropical storm after making landfall, caused minimal disruption to major refineries along the U.S. Gulf Coast. Brent …

Gold prices climbed in Asian trade on Tuesday, recovering from overnight losses as investors eagerly awaited Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress, hoping for indications of a potential interest rate cut. Gold’s Recent Gains and Rate Cut Expectations: The precious metal saw a notable increase last week, …

The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …

The French legislative elections drew mixed reactions from European fundamentalists, despite the fact that the results suggested the far right would not win power and therefore lower the risks associated with the political trend’s renowned economic ideas.By the end of the new trading week’s first day, the euro was up …

Inflation has been a significant factor for the price of gold, with the Federal Reserve raising interest rates to combat it and keeping rates higher for longer for the same purpose. Gold prices have been strong, reaching a record high of over $2,400 in May, and have since fallen slightly …