Market Update

The EUR/USD pair rallied benefiting from the weaker US dollar and ECB hawkish commentary. The US central bank Chair Jerome Powell’s speech on Tuesday did not provide any guidance concerning the future of the US monetary policy ahead of the awaited Thursday’s US CPI report with estimates at 0% MoM …

Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce earlier on Wednesday. At the time of writing the precious metal is trading at $1876.80 per ounce.Investors normally flock to assets that offer regular returns, such as government bonds, when interest rates are …

Boston Federal Reserve’s Susan Collins backs a slowdown in the US interest rate increases. Collins also noted that she was leaning toward a quarter-point move at the FOMC’s next meeting on February 1.“I think 25 or 50 would be reasonable; I’d lean at this stage to 25, but it’s very …

On Wednesday, the metal rose 1.1% to $9,013.50 on the London Metal Exchange (LME), posting its fifth consecutive daily gain. At the time of writing, the key industrial metal is trading at $4.17 per pound for the first time since June, versus the previous closing price on Tuesday at $4.07. …

Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on …

Treasury yields retreated on Wednesday, on the eve of the key consumer price data release. The yield on benchmark 10-year Treasury notes fell 5.9 basis points to 3.560%. Yields move inversely to their price. The market expects inflation to ease and the Fed could cut interest rates by the end …

Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. At the time of writing the precious metal is hovering around $1872 per ounce.Gold has got the opportunity to shine again, as investors are betting that the aim of cooling hot …

In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

Oil prices rose slightly on Wednesday, amid an unexpected increase in US crude and fuel inventories, global economic uncertainty and China’s reopening of its economy. Brent crude futures rose 53 cents, or 0.7 percent, to $80.63 a barrel by 0921 GMT. US West Texas Intermediate crude futures rose 41 cents, …

The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January. In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels. Today, Wednesday, the …