Commodities

Stocks broadly surged on Friday afternoon trading on Wall Street as investors and traders welcomed news of rebounding hiring by U.S. employers throughout October.The Dow Jones Industrial Average rose 225 points, or 0.6%, to 36,347 and the Nasdaq rose 0.6%, whereas S&P 500 rose 0.6%. More than 80% of stocks …

Silver (XAG/USD) advances for the second successive session, up 1.08% trading at $24.02 during the New York session. On Friday, the U. S. Bureau of Labor Statistics revealed its Nonfarm Payrolls report for October, which reported the creation of 531000 new jobs added to the U. S. economy, higher than …

German industrial output fell unexpectedly in September, as supply problems related to raw materials and commodities continued to affect production in Europe’s largest economy. Germany’s Federal Statistics Office said industrial output fell 1.1% month over month after an upwardly revised 3.5% drop in August. A Reuters poll had forecast industrial …

Inflation is still the one issue that irritates fiscal policymakers and the officials of the central banks across the Atlantic.On Thursday’s session, the U. S. dollar was the unchallenged winner. The USD was able to resume its advance and reached fresh weekly highs against high yielding rivals. On the other …

The gold market is stuck in a hard day, with prices trading in a narrow range between $1,750-$1,800 an ounce.There is no driver strong enough to push gold below $1,750 an ounce or above $1,800 an ounce, there’s certainly an apprehension to sell gold after Jerome Powell’s statements to the …

USD/CAD is currently trading at highs of the day slightly tend to uptrend to 1.2450 per barrel mark, sharply up from Asia Pacific session lows around the 1.2400 level, the pair is trading as a function of oil prices more than anything else. Crude oil prices have reversed sharply from …

All expectations that tightening signals by BoC and RBA would push the world’s biggest monetary policy actors to accelerate their own timelines for rate hikes ran into a wall with the U. S. Federal Reserve and European Central Bank saying they would not hike interest rates so fast.Rate futures and …

After enhanced unemployment benefits expired and schools re-opened, workers were expected to go back to work and the U. S. labor shortage was also expected to ease significantly by September. But recent data suggest that the shortage is getting more severe.Though the risk of a severe shortage continuing into 2022 …

Solid domestic demand in the U. S. has caused import growth to outpace exports for the most of the past year, according to Wells Fargo.Analysts pointed out that with consumption slowly rebalancing back toward services spending, imports should eventually slow and provide some relief at U. S. largest ports. Industrial …

As widely anticipated, OPEC+ has agreed to stick to their existing plan to increase output by 400K barrels per day/month in December. Despite this news, trade has been uneven over the last hour, with oil prices having fallen back sharply from earlier highs. Front-month WTI futures, which were above $83.00 …