Market Update

The WTI crude is under pressure leading up to the key event of the week; namely Thursday’s US Consumer Price Index. At the time of writing, WTI is trading at 87.18 having crawled between $86.30 low and $90.05 high. Oil retreated on Wednesday with overall negative performance, losing over 1.8% …

US stocks finished lower on Wednesday after the release of the minutes of September FOMC policy meeting, wherein policy makers noted that inflation remained “unacceptably high.”The S&P 500 SPX, -0.33% closed 11.81 points, or 0.3%, lower at 3,577.03. The Dow Jones Industrial Average DJIA, -0.10% finished off 28.34 points, or …

Gold spiked higher to reach $1,678 after FOMC Minutes. The US dollar loses ground as the Fed hints to moderate the hiking pace. Gold futures spiked up to session highs at $1,677, with the US dollar turning lower as the minutes of September’s Fed meeting have been considered more dovish. …

The AUD/USD benefited from the FOMC minutes that investors are digesting and that are seen as less hawkish.At the time of writing, AUD/USD is trading at 0.6285, a touch below the post-FOMC minute’s highs of 0.6298. The pair have travelled between a low of 0.6235 and 0.6298 so far.AUD/USD has …

The Federal Open Market Committee minutes of September’s meeting have been released:Fed officials determined that they needed to adopt and maintain a more restrictive policy stance in order to achieve their goal of lowering elevated inflation.Many participants raised their assessment of the federal funding path required to meet committee objectives.Many …

Gold price holds around 1670$ even after US PPI data. The precious metal stays firm despite the US dollar’s strength.Market participants turn attention to FOMC minutes ahead of Thursday US CPI numbers. Gold continues to trade around $1,670 as it has been the case since the beginning of the European …

The US is struggling to protect chips supply chain against consequences of its new export curbs on China’s chip industry because such consequences could harm the semiconductor supply chain.Just hours before a new restriction became effective, South Korea’s chipmaker SK Hynix Inc announced it got authorization from the United States …

Russian President Vladimir Putin said on Wednesday that Russia intends to keep oil production and export rates at current levels until 2025, adding that Moscow will not give up its global leadership position in the global energy market despite Western sanctions. Putin also praised the OPEC+ group, which announced last …

Eurozone’s Industrial Production increased more than expected in August, the official data published by Eurostat showed on Wednesday, suggesting that the bloc’s manufacturing sector activity is regaining traction. The industrial output in the old continent jumped by 1.5% MoM vs. a 0.6% increase expected and -2.3% last. On an annualized …

Gold prices rose on Wednesday, supported by a slight decline in the dollar, as investors looked forward to the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for indications on the path of raising interest rates. And …