Oil prices have been on a wild ride in recent weeks, driven by a perfect storm of geopolitical tensions and natural disasters. The escalating conflict between Israel and Iran, coupled with the devastating impact of Hurricane Milton on U.S. fuel supplies, has sent crude oil prices soaring. The Middle East, …
Read More »Explainer: Inflation Data Sparks Debate on Fed Rate Path
The Federal Reserve, tasked with maintaining price stability and promoting economic growth, faces a delicate balancing act in its monetary policy decisions. The recent release of inflation data has once again highlighted the complexities of this task.Inflation, the sustained increase in the general price level of goods and services over …
Read More »Gold Prices Steady as Dollar Strength Persists, CPI Data in Focus
Gold prices remained relatively unchanged in Asian trade on Thursday, with investors focusing on upcoming U.S. inflation data to gauge the future path of Federal Reserve interest rate cuts. A stronger U.S. dollar continued to apply pressure on gold, which has dropped from record highs due to the expectation of …
Read More »Market Drivers; US Session
The US Dollar continued its upward trajectory, reaching new multi-week highs. This surge was primarily driven by rising interest rates and growing speculation that the Federal Reserve might implement a 25 basis point interest rate cut in November. These developments occurred ahead of the highly anticipated release of the US …
Read More »XAU/USD further declines following FOMC Minutes
Gold declined as Fed Minutes revealed a “substantial majority” backed a 50 bps cut, while some preferred 25 bps. CME FedWatch Tool shows lower odds of a 25 bps cut, down to 75.9%, with rising expectations for a rate pause. US 10-year Treasury yield rises to 4.062%, supporting the US …
Read More »Gold Prices Fall as Traders Bet on Slower Fed Rate Cuts
Gold prices extended their decline in Asian trading on Wednesday, as growing expectations of slower rate cuts by the Federal Reserve weighed on the market. A stronger U.S. dollar, supported by rising Treasury yields, added pressure on metals. Spot gold slipped 0.2% to $2,615.90 per ounce, while December gold futures …
Read More »Easing supply concerns drag crude oil price back
Oil prices slumped by more than 4% early on Tuesday as traders have yet to see an actual supply disruption in the Middle East while focusing on China’s underwhelming demand again.Both benchmarks, WTI Crude and Brent Crude, were down by about 3% as of 9:30 a.m. EDT on Tuesday. The …
Read More »China’s disappointing stimulus size drags gold lower
The (XAU/USD) Index exchanges hands in the $2,620s on Tuesday as the yellow metal reaches the floor of its familiar $50 range of recent weeks.Disappointment at the limited extent of fiscal stimulus announced by China on Tuesday is a headwind for Gold, since China is the world’s largest consumer of …
Read More »Gold Prices Hold Steady as Traders Await Fed Signals, Copper Falls on China Stimulus Concerns
Gold prices remained stable in Asian trading on Tuesday after retreating from record highs, as investors reassessed the likelihood of smaller interest rate cuts by the Federal Reserve. Meanwhile, copper prices dropped sharply as Chinese markets reopened following a week-long holiday, with disappointment over Beijing’s implementation of its stimulus measures …
Read More »Market Drivers; US Session
The US Dollar Index (DXY) traded mixed on Monday as investors continued to grapple with rising geopolitical tensions in the Middle East and the implications of Friday’s strong jobs report. Despite higher US yields, the DXY remained near recent peaks above 102.00.Key Economic Events for Tuesday, October 8:US: NFIB Business …
Read More »