June 29, 2023 12:09 pm
Key points WTI Crude erases earlier losses, but gains seem limited US oil inventories decrease more than expected – EIA Rate hike concerns, weak China data weigh on oil prices Futures on US West Texas Intermediate Crude Oil erased earlier losses and edged higher on Thursday, as investors weighed a larger-than-anticipated drop in US oil […]
Read moreJune 28, 2023 11:49 am
Key points WTI Crude recoups part of loss in the previous session US oil inventories decrease more than expected – API Data offsets rate hike concerns Futures on US West Texas Intermediate Crude Oil rose on Wednesday on the back of steeper-than-anticipated decrease in US crude stocks, which indicated fuel demand remained strong. The latest […]
Read moreJune 27, 2023 12:34 pm
Key points WTI Crude retreats more than 1% US oil inventory data in focus – API, EIA Market shrugs off recent geopolitical events Futures on US West Texas Intermediate Crude Oil retreated on Tuesday, as market players looked to incoming US inventory data for clues over fuel demand during the busy summer driving season. The […]
Read moreJune 26, 2023 12:47 pm
Key points Spot Gold rebounds from 14-week trough Geopolitical worries surrounding Russia underpin safe haven demand A drop in USD also supports dollar-priced Gold Speculators increase net long position in COMEX Gold Spot Gold gained for a second straight day on Monday, as geopolitical developments that unfolded in Russia this weekend prompted some market players […]
Read moreJune 23, 2023 12:32 pm
Key points WTI Crude heads for a weekly decline Aggressive monetary policy tightening brings forth growth concerns, underpinning risk-off assets Demand concerns outweigh latest EIA inventory data Futures on US West Texas Intermediate Crude Oil plunged for a second consecutive trading day on Friday and were set for a weekly loss, as rate hike-driven economic […]
Read moreJune 22, 2023 12:29 pm
Key points Spot Gold hovers above recent 3-month low Fed Chair Powell indicates more hikes to come to curb inflation BoE hikes rates by 50 bps to 5%, the highest since 2008 crisis Spot Gold traded near recent three-month trough on Thursday after Federal Reserve Chair Jerome Powell indicated more tightening was likely to rein […]
Read moreJune 21, 2023 12:26 pm
Key points WTI Crude trades within relatively narrow range Focus sets on Fed Chair Powell’s testimony API and EIA inventory data expected Futures on US West Texas Intermediate Crude Oil held steady on Wednesday as market focus sets on Fed Chair Jerome Powell’s congressional testimony later today and after official data showed UK inflation remained […]
Read moreJune 20, 2023 12:42 pm
Key points Gold, US Dollar move within tight ranges on Tuesday Market players wait for Fed Chair Powell’s testimony for rate path clues China gold demand to remain strong amid economic uncertainties – analyst Spot Gold and the US Dollar were mostly little changed on Tuesday, as market players were eyeing Federal Reserve Chair Jerome […]
Read moreJune 19, 2023 12:45 pm
Key points WTI Crude with small gains, erasing losses earlier in the session China data suggests recovery remains shaky US oil and gas rig count drops for 7th straight week OPEC+ output cut deal supports market Futures on US West Texas Intermediate Crude Oil were last edging up on Monday, erasing earlier losses, as investors […]
Read moreJune 12, 2023 8:59 am
Spot Gold traded mostly little changed at the start of the week amid investor caution ahead of the key US inflation data and the outcome of the Federal Reserve’s policy meeting. Markets are currently pricing in a 74% chance that the US central bank will keep the target range for the federal funds rate unchanged […]
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