Market Update

Gold futures ended session higher on Tuesday buoyed by dollar weakness ahead of US inflation readings due to be released next Wednesday amid forcastes inclined to lower inflation in July. Gold settled at 1793 USD per ounce versus last Monday close at 1788 USD per ounce.  The low of the …

Oil edged up on Tuesday, reversing an early decline as worries about tightening supply were revived after Russia said oil exports to Europe on the southern leg of the Druzhba pipeline had been suspended since early August.Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg …

The global oil demand is expected to rise by 2.08 million barrels per day (bpd), down from 2.23 million in the previous forecast, to 99.43 million bpd in 2022, the US Energy Information Administration said in its latest monthly report, as reported by Reuters.Crude oil prices continue to push lower …

The USD/CAD pair has erased some of Monday’s losses and is now gaining about 0.24% at the time of writing.The diminished market sentiment keeps safe haven currencies like the US dollar in a positive situation. Investors brace for US Consumer Price Index for July, with headline inflation estimated to fall.The …

US labour productivity declined for the second consecutive quarter as overall economic output contracted and employers spent more on labor as they added workers.US nonfarm labor productivity is a measure of goods and services produced in the US per hour worked, fell at a seasonally adjusted annual rate of 4.6% …

The US Bureau of Labor Statistics will release July’s CPI data on Wednesday, August 10 at 12:30 GMT and as markets get closer to the release time, forecasts by the economists of nine major banks regarding the upcoming US inflation print expect inflation to ease down.Economists expect inflation to decelerate …

Oil prices rose by more than $1 on Tuesday, after falling earlier, after Russia said that oil exports to Europe through the southern part of the Druzhba pipeline had been suspended since early August, reviving concerns about a supply shortage. Russia’s pipeline monopoly Transneft said Ukraine had suspended the flow …

The dollar fell during trading on Tuesday, August 8, as investors awaited US inflation data this week for signs that price pressures in the United States will ease after raising interest rates. The dollar index, which measures the value of the US currency against a basket of six competing currencies, …

After registering modest gains on Monday, EUR/USD has stretched higher and climbed above 1.0200. Nevertheless, euro recovery remains limited ahead of Wednesday’s key data releases. EUR/USD advances for the second session in a row and extends the optimism seen at the beginning of the week, as the greenback continues to …

Gold fell slightly on Tuesday as investors awaited US inflation data this week that may give more clarity about the Federal Reserve’s plans to raise interest rates in order to control inflation. By 0710 GMT, spot gold fell 0.2% to $1,785.89 an ounce, and US gold futures fell 0.2% to …