Commodities

Oil prices fell on Wednesday as the market assessed the possibility of the Federal Reserve raising interest rates which could slow growth and reduce oil consumption, which was offset by falling US inventories and strong Chinese economic data. And by 0641 GMT, Brent crude futures fell 35 cents, or 0.4 …

The dollar stabilized on Wednesday after swinging amid bond market volatility in previous sessions, as investors focused on US economic indicators, Federal Reserve comments and corporate earnings in search of clues to the path of interest rates. The dollar index, which measures the performance of the US currency against six …

On a quiet Tuesday in the US session across financial markets, the US dollar fell. The Dollar Index declined again below 102.00, but it is still a long way from its recent low. US yields barely changed and remained close to recent monthly highs.Economic DataIn the first quarter, China’s GDP …

Prices for WTI extended last US session’s drop near $80.00 though crude oil received some initial support from encouraging Chinese data. The API’s weekly report on inventory is awaited at the moment. On Tuesday, renewed selling pressure pushes the price of a barrel of American benchmark sweet light crude oil …

Gold prices rose on Tuesday as the dollar weakened, as investors await more clues about the Federal Reserve’s interest rate path. Spot gold rose 0.2 percent to $2,001.09 an ounce by 0457 GMT. And US gold futures rose 0.2 percent to 2011.10 dollars. The dollar index fell 0.1%, making bullion …

On Monday, the US Dollar Index increased for the second day in a row as the chances of the Fed raising rates again at its May meeting increased and the possibilities of a rate cut later in 2023 decreased. Data from the US exceeded forecasts, with the Empire Manufacturing Index …

A slight pullback in the USD Index coincided with an effort at a recovery in the gold price, which scaled to close to $1,994.60. It would not be reasonable to view Gold’s upward trend as a reversal given the strong odds on another Fed rate hike.The Fed’s Beige Book will …

Gold price resumed downside on Monday, fall to the $1,980$ area. The Us Dollar rises across the board, boosted by higher US yields.Gold price resumed the downside on Monday, breaking under $1,990. XAU/USD bottomed at $1,980 reaching the lowest level in a week. The precious metal is trading at 1995.70, …

The US Treasury has warned US companies of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the department said it is aware of reports that …

Oil prices moved lower on Monday as investors deliberated over a likely May interest rate hike by the U.S. Federal Reserve, which might hamper economic recovery hopes, despite Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 55 cents or 0.6% at $85.76 …