Commodities

Last week, the market’s attention was squarely fixed on a slew of US economic indicators, aimed at deciphering clues regarding future interest rate trajectories and the Federal Reserve’s timeline for ending its monetary tightening stance and initiating quantitative easing. However, the latest US data, particularly the Consumer Price Index, US …

Gold prices experienced their first weekly decline in four weeks on Friday March 15. The Gold Index lost -0.21% to trade at $2157.14 per ounce, as at the time of writing.This shift comes after data revealed concerns on US inflation, causing investors to reconsider their expectations for a Federal Reserve …

In a week marked by market fluctuations, oil prices showcased remarkable resilience, driven by optimistic forecasts from the International Energy Agency (IEA) and unexpected shifts in U.S. inventory levels. IEA’s Optimistic Forecast Spurs Confidence The week began with a notable uptick in market sentiment following the IEA’s revision of its …

The US dollar rallied this week, fueled by positive economic data. Inflation data and the recent labour market conditions in the United States pushed the USD Index to new multi-day highs above 103.445.The USD Index (DXY): Strong gains continue, breaking past 103.00 on robust inflation and labor data. Keep an …

The International Energy Agency (IEA) has revised its outlook for oil demand growth, citing disruptions to Red Sea shipping as a key factor. The agency, representing industrialized nations, forecasts a growth of 1.3 million barrels per day (bpd) in 2024, up by 110,000 bpd from its previous month’s projection. Divergent …

Gold prices experienced a slight decline on Thursday as the dollar strengthened, although bullion remained near record highs. Traders were eagerly awaiting more US economic data, which could influence expectations regarding a potential mid-year interest rate cut. Price Movements By 0426 GMT, gold in spot transactions fell by 0.2 percent …

After Tuesday’s abrupt decline, gold prices soon resumed their upward trajectory, on Wednesday, with the immediate goal being the all-time high, which is located little below $2,200 per ounce. Gold closed the North American session at $2175.60 per ounce.The US weekly crude oil and petrol stockpiles unexpectedly declined, and rising …

US President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of US Steel, pushing the company’s stock 12% lower on bets the deal could face greater political opposition.In December, Nippon Steel clinched a deal to buy the 122-year-old iconic steelmaker for a hefty premium, betting …

The AUD/USD pair has seen a surge in value as markets continue to anticipate the Federal Reserve cutting interest rates possibly in June. However, the Reserve Bank of Australia is striking a more hawkish tone, suggesting that rates may even need to rise. The pair is 0.40% up, trading at …

Gold price (XAU/USD) trades slightly in the green in Wednesday’s early New York session but has an uncertain outlook in the near term as investors have scaled down expectations of Federal Reserve rate cuts in June. The precious metal recorded its second-largest single-day decline in a month on Tuesday after …