In the United States, inflation, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 3.5% on an annual basis in August, up from 3.4% (revised from 3.3%) in July, according to the US Bureau of Economic Analysis on Friday. This reading was consistent with …
Read More »Reuters survey: OPEC oil production rose for the second month with support from Nigeria and Iran
A Reuters survey showed on Monday that the Organization of the Petroleum Exporting Countries (OPEC) oil production rose for the second month in a row in September, supported by higher production from Nigeria and Iran, despite Saudi Arabia and other members of the broader OPEC+ alliance continuing to cut production …
Read More »Gold fell to its lowest levels in seven months
Gold prices fell to $1,830 per ounce during trading on Monday, reaching their lowest levels in seven months due to pressure resulting from the strong dollar and high Treasury yields, as well as today’s expected speech by Jerome Powell. Gold’s decline today is the worst in two years, incurring monthly …
Read More »Manufacturing in Russia grew at its fastest pace in more than 6 years
Factory activity in Russia grew at the fastest pace in more than six years in September, and employment in the sector increased at the fastest rate in more than two decades, a survey showed on Monday. The Standard & Poor’s Global Manufacturing Purchasing Managers’ Index rose to 54.5 from 52.7 …
Read More »Strength of USD putting pressure on gold
Gold continued its losses on Monday for the sixth session in a row, reaching its lowest level in about seven months in light of the continued rise of the dollar, traders’ evaluation of a major report on inflation in the United States, and their anticipation of a number of labor …
Read More »Oil prices are rising as investors’ risk appetite grows
Oil prices rose on Monday, recouping some of their losses on Friday, as investors focused on expectations of tight global supply and a last-minute agreement to avoid a US government shutdown, which restored their risk appetite. By 0037 GMT, Brent crude futures for December rose 18 cents, or 0.2 percent, …
Read More »Financial Markets’ Weekly Recap
In the United States, inflation, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 3.5% on an annual basis in August, up from 3.4% (revised from 3.3%) in July, according to the US Bureau of Economic Analysis on Friday. This reading was consistent with …
Read More »Canadian dollar tumbles on oil price, GDP missing estimates
The decline in crude oil prices on Friday has sent the Canadian dollar back to recent lows. Market forecasts for the Canadian GDP missed, and economic growth is seen as flat. As the Canadian dollar declines and the US dollar rises, the USD/CANADIAN DOLLAR crosses a new weekly high.On Friday, …
Read More »Gold has some sparkle, but it is still headed for a quarterly decline
Gold prices rose on Friday as the rise of the dollar and US Treasury bond yields halted, but it is on track to record a monthly and quarterly decline under pressure from growing expectations that the US Central Bank will keep interest rates high for a longer period. Spot gold …
Read More »Oil is heading for a 2% weekly gain, supported by demand during the Chinese holiday
Oil prices are heading to record a weekly gain of about two percent after achieving some increase on Friday, as the impact of strong demand during a holiday in China and continued scarcity in the United States overshadowed expectations of possible increases in supplies from Saudi Arabia. Brent crude futures …
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