Commodities

Volvo has reported a significant decline in earnings for the third quarter of 2024, primarily driven by a slowdown in the demand for trucks and construction equipment. Reduced economic activity in the construction sector and a model changeover in Europe have contributed to this decline.While Volvo’s bus operations have shown …

Gold prices soared to a new record in Asian trading on Friday, driven by strong safe haven demand as the U.S. presidential election looms and geopolitical tensions escalate. Spot gold rose 0.4% to a record high of $2,705.26 an ounce, while December futures climbed 0.5% to $2,720.15 an ounce. Safe …

Crude oil futures steadied on Friday after an uptick in U.S. retail sales, but concerns about global demand weighed on the market as mixed economic indicators from China persisted. Prices remained on course for their largest weekly loss in over a month. As of 0338 GMT, Brent crude futures edged …

The U.S. Dollar’s strength continued unabated, driven by robust domestic economic data and a marginally dovish stance from the European Central Bank. This positive sentiment for the U.S. Dollar was evident in its continued appreciation against major currencies.Key economic indicators and events to watch on Friday, October 18, included the …

Gold is currently rallying and enjoying a resurgence in price. This report traces the intricate factors driving this rally, examining both macroeconomic fundamentals and technical indicators. Gold prices surged to a new all-time high near $2,700 on Thursday, driven by a combination of factors, including heightened uncertainty surrounding the upcoming …

Oil prices edged higher on Thursday, balancing the impact of falling US crude inventories against escalating geopolitical tensions in the Middle East and underwhelming economic stimulus measures from China.West Texas Intermediate (WTI) and Brent crude both settled slightly higher, with WTI closing at $70.67 a barrel and Brent at $74.45 …

Oil prices traded flat on Thursday as investors remained cautious about geopolitical tensions in the Middle East and awaited more information on China’s economic stimulus plans. Traders were also looking ahead to the release of U.S. oil inventory data for further market direction. Brent crude futures dipped by 4 cents …

Gold prices rose slightly in Asian trading on Thursday, staying close to record highs despite a strong U.S. dollar fueled by speculation of a second Trump presidency. The rise in gold was supported by lower Treasury yields and expectations of interest rate cuts from major central banks. Spot gold climbed …

Gold prices rallied during the mid-North American session on Wednesday, bolstered by a decline in US Treasury yields and a disregard for recent US Dollar strength. Anticipations of interest rate cuts by major central banks, fueled by soft inflation data, weighed on bond yields and propelled the non-yielding metal. As …

The US Dollar (USD) strengthened against the Canadian Dollar (CAD) on Thursday, with USD/CAD trading near 1.3755. The market is increasingly betting that the Federal Reserve (Fed) will implement a series of modest interest rate cuts in the coming months.The Fed’s dovish stance, coupled with geopolitical tensions and US election …