West Texas Intermediate (WTI) crude oil rose on Monday on persisting supply concerns as Russian energy sanctions are very much on the table following the Russian forces’ civilian killings in north Ukraine. For a fresh high of the day, at $103.82. WTI spot is up by some 4.5% as White …
Read More »Financial Markets Look for Guidance, Why Does Tuesday’s PMI Matter?
The US dollar has reclaimed 99.00 on expectation of strong US Services PMI on Tuesday. A preliminary estimate for the US Services PMI is 58 against the prior print of 56.5. Nearly 80% of the US economy revolves around services, which heightens attention around the US ISM services PMI as …
Read More »Gold To Remain Supported By Haven Flows
Gold remains firm in the aftermath of another US strong jobs report issued last Friday. News headlines on war crimes and the potential for more sanctions in the context of East Europe’s tensions are set to keep haven flows strong.Hawkish Fed backdrop is increasingly weighing on the upside momentum of …
Read More »Update: Gold is rising as risk appetite is affected by the Ukraine war
Gold prices rose on Monday, as demand for the safe-haven metal was boosted by the war in Ukraine and risk aversion in broader stock markets, but its gains were limited by a rise in US Treasury yields after strong jobs data in March. And gold rose in spot transactions 0.1 …
Read More »Gold prices stabilize as the dollar rises and US bond yields
Gold prices stabilized on Monday, April 4th, with the US dollar and US bond yields rising after strong jobs data raised expectations for a sharp interest rate hike. There was little change in the price of gold in spot transactions at 1922.43 dollars an ounce. US gold futures rose 0.2% …
Read More »Oil tops $105 as supply worries persist
Oil prices topped $105 a barrel on Monday, as concerns persisted about tight supplies due to Russia’s invasion of Ukraine and a deal on Iran’s nuclear deal despite countries withdrawing from strategic oil reserves. The invasion of Ukraine in February sharply exacerbated already existing supply concerns and raised oil prices. …
Read More »Market Drivers – US Session – 1 April
GBP/USD fell during US trade on Friday, as the US dollar strengthened versus the majority of its G10 counterparts. following strong US economic data.The US dollar benefitted from a surge in US yields, particularly at the short-end of the curve. The bond market moves reflected a market interpreting Friday’s data …
Read More »Baker Hughes: US Oil Drilling Rig Count Counts For Second Week
Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by two to 533 this week. That followed a climb of seven oil rigs the week before, Baker Hughes data show. The total active US rig count, which includes those drilling for natural …
Read More »Gold Price Retreats from $1950 On Stronger USD, High T-Yields
Gold slumps for the third day of the week amid an upbeat market mood and rising US yields. The Gold Index (XAU/USD) slides as the second quarter begins, down some 0.64% in the North American session. The Russia-Ukraine tussles, elevated global inflation, and rising US Treasury yields, keeping the non-yielding …
Read More »US liquefied natural gas exports rise 16%, to new record
US liquefied natural gas (LNG) exports rose nearly 16% last month to a record high, according to preliminary Refinitiv data, with shipments to Europe continuing to dominate.US LNG is in high demand as European countries try to cut gas imports from Russia following its invasion of Ukraine while also looking …
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