Commodities

The US dollar has been softer despite the recent slew of US data, including Retail Sales and Jobless claims. The US Dollar Index dropped further on Thursday, extending the negative momentum that followed the FOMC statement. The dovish signals from the Fed have weighed on the US Dollar, which remains …

WTI tried to regain some ground on Thursday, it was moving back above $72.50, before settling at $71.88 per barrel as at the time of writing, yet it is still up by some 2.61% Crude prices are still well below their previous peaks. Investors continue to have doubts that output …

Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.The metal that is mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities …

The International Energy Agency on Thursday raised its forecast for global oil demand growth next year, despite an expected economic slowdown, citing improving prospects for the United States and declining oil prices. Although the agency, which represents the industrialized countries, raised expectations, there remained a large gap between them and …

After the Federal Reserve meeting, the US Dollar experienced a significant collapse. As expected, the central bank decided to keep interest rates unchanged. Market analysts are forecasting three rate cuts for 2024. Fed Chair Jerome Powell leaned dovish, adding fuel to the rally in Treasury bonds. He refrained from declaring …

Gold prices are up a bit after hitting a three-week low overnight, while silver is slightly down after scoring a four-week low overnight. The marketplace is quieter just ahead of some important US economic data coming out today. February gold was last up $3.20 at $1,996.40. Gold is trading at …

On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to “exaggerated concerns” about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil …

Gold prices fell on Wednesday to the lowest level in more than three weeks as the dollar rose ahead of a Federal Reserve decision on interest rates and monetary policy indicators later on Wednesday. Gold fell in spot transactions 0.2 percent to $1,975.07 per ounce by 0711 GMT. US gold …

Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

On Wednesday, all eyes will be on the Federal Reserve and Chair Powell. During the Asian session, New Zealand will disclose current account figures, and Japan will release the Tankan survey. The Producer Price Index (PPI) will provide more inflation data in the United States.On Wednesday, the Federal Reserve will …