Commodities

Central bank decisions, Omicron developments, and US inflation data were the past week’s highlights. The Reserve Bank of Australia decided to keep the interest rate at as low as 0.10% but left the door open to expectations of a rate hike earlier than previously thought in 2022. It indicated that …

The US Dollar Index (DXY) which measures the performance of the US dollar against major currencies, has slid by 0.19%, settling at 96.04 during the New York trading session.The market sentiment was positive as the Wall Street session closed, with major US shares finishing in the green territory recording gains …

US drillers this week have added oil and natural gas rigs for the sixth time in seven weeks as demand for energy keeps growing after last year’s coronavirus demand destruction.That rig count increase comes despite oil price declines in six of the past seven weeks. The oil and gas rig …

Americans’ cost of living climbed again in November and drove the rate of US inflation to a nearly 40-year of 6.8%, putting more pressure on households as they confront rising prices of fuel, food stuff, cars and house rents.The consumer price index increased 0.8% last month, the government said Friday …

WTI crude oil briefly pushed back above USD 72.00 on Friday after not as high as feared US inflation triggered risk-on. Oil prices have since eased back but remained on course for their best week since August. Oil prices remained uneven on Friday, though have for the most part traded …

Oil prices fell in trading on Friday, but they are still on track to achieve their biggest weekly gains since late August, as easing concerns about the Coronavirus variable “Omicron” on global growth and fuel demand affected market sentiment. Both Brent and West Texas Intermediate were on track to rise …

Gold prices rose on Friday, but are heading for a fourth consecutive weekly decline, as investors stay away from big bets ahead of inflation data in the United States that may prompt the Federal Reserve to reduce its bond purchases at a faster pace. Spot gold rose 0.2 percent to …

Traders are eying key economic data on Friday. Consumer inflation forecast to accelerate to 6.8% annually from 6.2% while Core CPI expected to rise to 4.9% from 4.6%. Producer prices, The monthly increases are predicted to be 0.7% in the headline rate and 0.5% in the core.Wages point to still …

“US and its allies would respond to Russia’s aggression,” said the White House early Friday. The news came after chatters that Russia rejected Ukraine’s proposal to strengthen the July 2020 ceasefire.The White House communiqué also mentioned that US President Joe Biden reaffirmed the United States’ unwavering commitment to Ukraine’s sovereignty …

New Zealand’s manufacturing sector witnessed a lower level of expansion in November, according to an economic survey released early Friday.The BNZ-Business New Zealand Performance Manufacturing Index (PMI) for November dropped 3.6 points to 50.6, which was still in expansion, but at slower rate than was seen in the first half …