Commodities

The US will release its April employment figures on Friday, May 6. The NFP report is expected to show that the economy added 391K new jobs, below the previous 431K but still a good figure. The unemployment rate is expected to have contracted to 3.5% from 3.6% in the previous …

Russian natural-gas supplies have increasingly become a tool of pressure in the conflict between Moscow and Europe over Ukraine while Europe still relies on Russia for 40 percent of the gas that warms and lights its homes and businesses.The confrontation Russo-European conflict has also ignited a stubborn challenge for the …

At $1,875, the gold price has been pressured and is trading not far from the lows of the day down at $1,872.54, losing some 0.34%. Gold fell from a high of $1,909.82 as the US dollar rebounded on Thursday, moving in on the 20-year highs reached last week, as per …

A few hours after the NFP release on Friday, gold investors could look to book profits toward the London fix, causing important assets, such as gold, to reverse direction after the initial reaction. Moreover, FOMC policymakers have clarified that they will focus on taming hot inflation, so they seem not …

Gold has extended its losses below solid resistance around $1890. The Gold Index is recording losses during the North American session, retreating from daily highs around $1909.66, amid a risk-off market sentiment.Two central banks expressed worries about China, while the Bank of England foresees a GDP contraction on 2023 for …

Oil prices rallied for a second straight session on Thursday, with front-month WTI futures briefly hitting their highest levels in more than one month above the $110 per barrel mark before more recently pulling back closer to $109.00. The WTI crude oil rallied above $110 to hit its highest levels …

The OPEC+ alliance is likely to stick with a plan to raise oil production modestly on Thursday and confirm that it is not responsible for global supply disruptions while stressing that the coronavirus-related shutdowns in China threaten demand expectations. Five OPEC+ delegates are expected to agree to an increase of …

The US dollar plunged on the remarks by the US Fed’s monetary policy decision. As expected, the US central bank has hiked rates by 50 bps to a range of 0.75% to 1% while announcing trimming the balance sheet as of June 1. They would start with a $47.5 billion …

Gold is benefiting from safe-haven flows and a dialing back of an uber hawkish Fed. Fed’s chairman, Powell, has taken out 75bps rate hike speculation in markets. At $1,885, the gold price is rallying some 0.87% on the day, breaking out of sideways consolidation and taking on a critical daily …

Canada registered another trade surplus in March, although below expectations: CAD 2.49 billion vs CAD 3.90 billion. Analysts at the National Bank of Canada highlight the trade surplus with the US reached a fresh record high. Key Quotes:“For the ninth time in the past ten months, Canada’s trade balance remained …