June 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 […]
Read moreJune 10, 2023 8:30 am
Key moments *Chevron, a U.S.-based oil company, plans to invest over $500 million in the Trapial block within the Vaca Muerta shale basin in Argentina’s western Neuquen province. *The investment announcement followed a meeting between Economy Minister Sergio Massa and Chevron officials. *The Trapial block covers an area of 109 square miles (283 square kilometers). […]
Read moreMay 31, 2023 9:06 am
Futures on US West Texas Intermediate Crude Oil retreated for a third consecutive trading day on Wednesday, as concerns over slowing demand in the world’s largest oil importer China overshadowed some progress in US debt ceiling talks. The latest macro data coming out of China showed manufacturing sector activity had shrunk at a steeper pace […]
Read moreMay 26, 2023 11:20 am
Spot Gold rebounded from a two-month low on Friday, but was still on track to register a third consecutive week of losses, as market players closely watched the progress of US debt ceiling talks as well as the Federal Reserve’s interest rate hike trajectory. The situation surrounding debt ceiling negotiations between U.S. President Joe Biden […]
Read moreMay 19, 2023 8:51 am
Futures on US West Texas Intermediate Crude Oil rose on Friday after an over 1% loss during the previous trading day on investor optimism the risk of a US debt default has diminished. “I think markets have been pricing out the risks of a U.S. debt default, which translates to a more risk-on environment,” Yeap […]
Read moreMay 5, 2023 8:32 am
Futures on US West Texas Intermediate Crude Oil surged more than 1% on Friday, but were still heading for their third consecutive weekly loss on concerns over a weakening US economy and slowing China demand. WTI Crude Oil Futures have retreated 9.39% so far this week, following another 1.20% loss in the prior week. Brent […]
Read moreApril 21, 2023 9:25 am
Spot Gold retreated on Friday on firmer US Dollar after some soft US data added to expectations that the Federal Reserve would probably put policy tightening on hold after hiking interest rates one more time in May. According to Ilya Spivak, head of global macro at Tastylive, the yellow metal has been moderating amid a […]
Read moreApril 13, 2023 8:40 am
After two consecutive days of gains, futures on US West Texas Intermediate Crude Oil edged down on Thursday, as market players were still concerned about a possible recession in the United States and weaker fuel demand. Crude Oil Futures gained more than 2% on Wednesday, as cooling consumer inflation in the US reinforced expectations the […]
Read moreMarch 31, 2023 9:03 am
Futures on US West Texas Intermediate Crude Oil edged down on Friday as optimism over China demand along with potential supply disruptions in Iraq was countered by uncertainty regarding US macro data due out later today. China’s industrial activity has become a major driver of oil prices in recent weeks. The country’s manufacturing sector activity […]
Read moreMarch 24, 2023 9:58 am
Spot Gold was a notch weaker on Friday, trading within a narrow range, as the US Dollar bounced off a seven-week trough, while market players mulled US Federal Reserve’s indications of a potential pause in its policy tightening cycle. The yellow metal, which does not pay any interest, remained at levels not far from recent […]
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