Commodities

The US Dollar (USD) surged to multi-day highs due to reduced expectations of a rate cut in September, positive data from US business activity in May, and a hawkish stance from the Federal Open Market Committee (FOMC).Currency Pairs: EUR/USD: Experienced its fourth consecutive session of losses, testing the 1.0800 support. …

Thursday marked the fourth straight session of declines in crude oil prices ahead of the hectic Memorial Day weekend travel period. This week, U.S. crude oil has dropped 3%, while the global standard, Brent, has dropped almost 4%.WTI’s July contract price is $76.87 per barrel, a decrease of 70 cents …

With the release of US Purchasing Manager Index (PMI) data, the XAU/USD Index is at a key juncture, threatening to fall below a significant trendline. According to the most recent figures, the US manufacturing and services sectors both experienced greater growth in May than anticipated. At the time of writing, …

Gold prices experienced extended losses in Asian trade on Thursday, further retreating from recent record highs as renewed worries about high interest rates and diminished safe haven demand weighed on the yellow metal. Industrial Metals Follow Suit Industrial metals, including copper, also faced losses, with copper prices sharply declining from …

The price of gold declines for the second day in a row due to a dismal interest-rate outlook and higher-than-expected expectations for interest rates. Fed’s Policymakers are hesitant to cut interest rates until they have made greater headway in combating inflation. Their opinions are shared by people all across the …

The U.S. dollar traded steadily on Wednesday as markets awaited the release of minutes from the last Federal Reserve meeting, while sterling advanced after April’s inflation figures came in lower than anticipated. At 04:55 ET (08:55 GMT), the Dollar Index, which measures the greenback against a basket of six major …

Gold prices edged lower in Asian trade on Wednesday, continuing to retreat from record highs as concerns over elevated U.S. interest rates grew ahead of crucial signals from the Federal Reserve. Industrial Metals Also Under Pressure The downward trend extended to industrial metals, with copper prices pulling back further from …

Federal Reserve Governor Christopher Waller has expressed concerns about the need for further rate hikes due to the hotter-than-expected inflation data. He believes that more months of good inflation data are needed before he can support an easing in policy. Federal Reserve Bank of Boston President Susan Collins and Federal …

The Canadian dollar has been under scrutiny recently as investors closely monitor economic data and central bank statements. Here’s a breakdown of the recent developments and their impact on the CAD as the USD/CAD pair is 0.20% up trading at 1.3651 at the time of writing.Inflation Data, Rate Cut Bets …

Gold prices experienced significant volatility on May 21, 2024, as they corrected lower after touching an all-time high of $2,450 on the previous trading day. The pullback was driven by central banks’ communication regarding their reluctance to lower interest rates. In this article, we’ll delve into the factors influencing gold …