Commodities

Oil prices experienced a notable uptick of more than two percent on Friday, fueled by optimistic US data that bolstered expectations for increased demand. Despite this positive development, both Brent crude and US West Texas Intermediate (WTI) crude prices faced their seventh consecutive week of decline, marking the lengthiest series …

Gold price retreated below $2,000 for the first time since November 24, extending losses to 0.50%. The XAU/USD pair is trading at $1996, after hitting a daily high of $2034.00. The decline follows the latest US employment report, which showed the labor market is improving, with the economy creating 199K …

As voluntary production cuts are demanded by Russia and Saudi Arabia, oil traders are expecting a recovery in the oil market. Due to gloomy weather forecasts, natural gas is trading below $2.60, while WTI oil has pared some of its weekly losses and is moving closer to $71.50. As of …

The top decision-making body of China’s ruling Communist Party said the country’s fiscal policy “should be moderately strengthened” to stimulate economic recovery, the state-run Xinhua news agency reported. The Politburo meeting held on Friday, chaired by Chinese President Xi Jinping, analyzed the economic work to be undertaken in 2024. The …

Oil prices rose by more than 1.5% during trading today, Friday, December 8th, but they are heading to record weekly losses of about 6% after falling to the lowest level in 6 months. In terms of trading, Brent crude futures rose 1.6% to $75.25 per barrel. US crude futures also …

Gold is heading towards recording its first weekly decline in four weeks after the rise of the dollar, but prices stabilized on Friday as markets awaited key data on US jobs for signs that the Federal Reserve may cut interest rates in early March. Gold increased 0.1 percent to $2,030.32 …

The key event on the economic calendar will be the US official employment report. Before that, during the Asian session, Japan’s data is due, including GDP, current account, and the trade balance. The Bank of England will publish the Consumer Inflation Expectation survey.Economic DataData released on Thursday showed that Initial …

The US Bureau of Labour Statistics is set to release November’s jobs report on Friday, December 8, with expectations for a 180,000 rise in Nonfarm Payrolls. Gold is expected to react stronger to a disappointing jobs report than an upbeat one. US stocks are trading modestly higher on Thursday, led …

Gold gains as more major central banks increase their bets on rate cuts in early 2024. The precious metal is receiving additional support from the cautious sentiment of the market. Gold is trading at 2029.38 at the time of writing.Early on Thursday in the European session, the price of gold …

Moody’s lowered its outlook for 8 Chinese banks to negative from stable, after lowering Beijing’s outlook to negative. The names that were downgraded included the four largest lenders in China, namely Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank Corporation. The agency said that …