Commodities

Gold has reversed earlier gains following the release of higher-than-expected US PMI data, which showed strong activity levels in US Manufacturing and Services in June. This indicates that inflation and interest rates will remain higher for longer, causing gold to drop off a cliff to trade in the $2,330s on …

Crude oil futures held steady on Friday, with Brent crude futures for August settlement experiencing a slight dip and U.S. West Texas Intermediate (WTI) crude futures for August delivery also edging lower. However, both benchmarks were set to achieve a second consecutive week of over 3% gains, reaching their highest …

The ongoing trade war between the United States and China represents one of the most significant economic confrontations of the 21st century, deeply impacting global markets, supply chains, and international relations. As the world’s two largest economies clash over tariffs, trade deficits, and technology transfers, Europe finds itself in a …

The dollar recovered strong upside traction and maintained the price action in the risk complex depressed amidst interest rate cuts speculation and soft US data releases. In addition, the BoE and the Norges Bank kept their policy rates unchanged vs. a surprising cut by the SNB.The DXY rose to four-day …

On Wednesday, investors remained mainly focused on the timing of Fed rate cuts. Attention will, next, shift to the BoE meeting as well as the flash PMIs readings.CurrenciesEUR/USD advanced marginally and managed to retest the 1.0750 zone amidst the irresolute price action in the US Dollar. On June 20, the …

Despite US exchanges being closed on Juneteenth, WTI crude tested into new highs on Wednesday on light trade, trimming $81.00 per barrel as commodities drifted higher. As Crude Oil recovers from a recent swing low, WTI reached a new seven-week high and is expected to continue rising for a second …

Gold (XAU/USD) trades in a tight range in the $2,320s in quiet markets on Wednesday. A lack of risk sentiment and low holiday volume caps volatility in the safe-haven asset. The USD – to which Gold is negatively correlated – trades broadly unchanged and since US bond markets are closed …

Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …

Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …