The currency market reacted to the uptick in market’s sentiment on Monday. The Fed’s meeting and banking industry developments will be the main influences on the upcoming sessions. On early Tuesday, the FOMC meeting gets started. The Fed is in a challenging situation. The market is pricing a 70% probability …
Read More »WTI hovers around $67.60s after nosediving to fresh lows
At the start of Tuesday’s Asian session, Western Texas Intermediate registers only slight losses. The current increase in WTI was a result of the weaker US Dollar and positive risk appetite.The outcome of monetary policy decisions by two significant central banks might drive down oil prices. The US benchmark crude …
Read More »Gold’s rally fades on failure to sustain key technical resistance
Improved market sentiment on Monday reduces demand for the safe-haven assets, including gold. This is preventing the Gold Index (XAU/USD) from powering higher. However, market’s overall confusion could soon resurface if the Fed fails to convince investors this week that the worst is over in terms of financial instability.Gold price …
Read More »Oil falls by more than two dollars due to fears of banking sector turmoil
On Monday, oil prices fell to a 15-month low amid fears that turmoil in the global banking sector could lead to a recession that would dampen demand for oil, as well as fears of a possible hike in interest rates in the United States this week. Brent crude futures for …
Read More »Gold is trying to climb as concerns about the banking sector return
Gold prices regained some gains on Monday, erasing part of earlier losses, as concerns about the global banking sector returned to the fore, despite UBS’ rescue efforts to acquire rival Credit Suisse to stabilize financial markets more broadly. . Spot gold rose 0.1% to $1,988.89 an ounce by 0624 GMT, …
Read More »Financial Markets’ Weekly Recap, March 13-17
Wall Street finished lower on Friday, capping off a turbulent week marked by an evolving banking crisis and the gathering storm clouds of a possible recession. All three indexes finished the session in the red, with financial stocks falling the most of the S&P 500’s major sectors. All three indexes …
Read More »Crude oil modestly bounces from fresh 2023 lows
WTI crude oil modestly bounced after posting a fresh 2023 low of $65.22 a barrel. West Texas Intermediate fell to $65.22 per barrel on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing on the market mood. At the …
Read More »Gold has surpassed $1,960 for the first time since April 2022
Gold is trading at $1959.26 at the time of writing. Earlier on the day, gold price surged further on Friday reaching the highest level in eleven months, rising above $1,960 per ounce. The Gold Index XAU/USD is rising by more than $40, adding to weekly gains.Risk aversion amid the banking …
Read More »The Kremlin: Russia decided to extend the grain agreement across the Black Sea by 60 days
The Kremlin said on Friday that Russia had decided to extend the grain deal across the Black Sea for 60 days, echoing earlier statements by the Foreign Ministry. Ukraine stated that the agreement, which will expire soon, must be fully renewed under the current terms, which provide for an extension …
Read More »Gold is heading for its best weekly performance since mid-November
Gold prices rose on Friday, supported by the weakness of the dollar, and are preparing for the largest weekly gains since mid-November, as the global banking crisis prompted investors to turn to the metal, which is considered a safe haven. And by 0313 GMT, gold in instant transactions rose 0.5 …
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