Commodity Market: Gold set for largest weekly drop since March 2020 as FOMC’s hawkish turn bolsters dollar to a nine-week high

June 18, 2021 8:32 am
Spot Gold rebounded on Friday, but was still on track to register its steepest weekly decline since the business week ended March 13th 2020, after the Federal Reserve’s hawkish policy reversal bolstered the US Dollar to a nine-week high. The FOMC indicated on Wednesday that it would consider whether to scale back the bank’s asset-purchasing […] Read more

Commodity Market: US Crude Oil falls from highs unseen since October 2018 as US Dollar gains, losses limited by sharp inventory drop

June 17, 2021 8:40 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday, as the US Dollar added to its value, but still, oil losses were limited by a sharp drop in US crude stocks, signalling continued demand recovery. The US Dollar registered its sharpest single-day gain in 15 months on Wednesday after the Federal Reserve indicated […] Read more

Commodity Market: US Crude Oil mostly steady as latest gasoline stock report points to weaker demand at the start of summer

June 10, 2021 10:43 am
Futures on US West Texas Intermediate Crude Oil remained mostly steady on Thursday after a government report showed an increase in US gasoline stockpiles, implying weaker-than-anticipated fuel demand at the start of the summer driving season. US crude oil stocks, including the nation’s Strategic Petroleum Reserve (SPR), registered a drop for the eleventh consecutive week […] Read more

Commodity Market: US Crude Oil retreats nearly 1% due to Iran supply increase concerns

May 27, 2021 9:11 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday due to concerns over a possible increase in Iran’s oil supply. Still, demand optimism regarding the summer driving season in the United States and Europe was providing certain support. “Most of the euro zone countries’ travel restrictions are lifted considering lower COVID-19 cases boosting […] Read more

Commodity Market: Gold rises as US Dollar softens, but recent macro data curbs gains

May 14, 2021 9:05 am
Spot Gold extended a rebound from this week’s low on Friday due to a softer US Dollar, but gains were limited by key macroeconomic data that bolstered the case of a sooner-than-anticipated increase in interest rates. This week’s macro data showed a sharper-than-expected surge in US consumer prices in April and initial jobless claims hitting […] Read more