The USD/CAD pair extends its fall for the second straight day; after Monday’s price action printed a weekly high near the 1.2600 mark, the Canadian dollar strengthened on the back of high oil prices, amid a downbeat market mood, courtesy of recent developments in the Eastern Europe front. the USD/CAD …
Read More »Putin, Scholz Agree To Talks On Gas Purchases In Rubles
Russian President Vladimir Putin and German Chancellor Olaf Scholz held talks on Wednesday, reported Russian state media, and agreed to hold talks between experts on the potential for ruble payments for Russian gas payments.The call comes ahead of a 31 March deadline set by Putin for Gazprom and the Russian …
Read More »The Secretary-General of OPEC urges OPEC + to maintain the path and follow the changes
A media statement quoted OPEC+ Secretary-General Muhammad Barkindo as saying that the OPEC+ group, which includes Russia and other producers, should “keep the path” regarding the group’s decisions, adding that it should also continue to follow market developments closely. OPEC + ministers are scheduled to meet on Thursday to decide …
Read More »Gold rises as dollar slips amid caution over Ukraine
Gold prices rose on Wednesday, supported by a weak dollar and a slight drop in US Treasury yields, while investors awaited more details from talks between Russia and Ukraine in Turkey. And gold rose in spot transactions 0.4 percent to $ 1926.60 an ounce by 1250 GMT. US gold futures …
Read More »Oil rises with supply shortage and possible new sanctions against Russia
Oil prices reversed their heavy losses, rising more than 2 percent on Wednesday as supply tightened and prospects of new Western sanctions against Russia increased, despite signs of progress in peace talks between Moscow and Kiev. Brent crude futures rose $2.48, or 2.3 percent, to $112.71 a barrel by 1003 …
Read More »Oil prices fall amid positive signs from Russia-Ukraine peace talks
Oil prices fell on Tuesday, extending the previous day’s losses after Russia described peace talks with Ukraine as constructive, and China’s new shutdown to curb the spread of the coronavirus hit fuel demand. Brent crude fell 2% to end the day at $110.23 a barrel, while US West Texas Intermediate …
Read More »US wheat and corn prices fall amid hopes for a ceasefire in Ukraine
US wheat futures fell 4% and corn futures fell 4% on Tuesday, as comments from Russia and Ukraine, following talks in Turkey, revived hopes for a ceasefire in a conflict that has disrupted major grain exports from the Black Sea region. The Chicago Board of Trade May wheat futures fell …
Read More »Market Drivers – US Session – 29 March
The US dollar plunged mimicking other safe-haven assets amid renewed hopes for a diplomatic solution to the Russia-Ukraine crisis. Risk appetite surged following news headlines indicating a de-escalation of Russian attacks around Kyiv and Chernihiv, as announced by Russia’s mediator Vladimir Medinsky.Ukraine has suggested a new security guarantee system, with …
Read More »Oil Recovers Losses As API Reports Large Crude Inventory Draw
The American Petroleum Institute (API) estimated that there was a draw this week for crude oil of 3.0 million barrels, compared to analyst predictions of a 1.558 million barrel draw. US crude inventories have shed 80 million barrels since the start of 2021 and about 23 million barrels since the …
Read More »Gold Rebound From Monthly Lows At $1890, Back Above $1910
Gold tumbles to $1890 and then rebounds more than $20. Volatility is set to remain high amid news from Ukraine and sharp moves in the Treasury market. Bearish bias prevails in XUA/USD, more losses seen on a consolidation under $1900.Gold is having another volatile session on Tuesday. Price dropped sharply …
Read More »