September 10, 2020 10:03 am
After surging more than 3% on Wednesday, futures on US West Texas Intermediate Crude Oil resumed their slide on Thursday after an unexpected rise in US crude oil stockpiles during the past week. An industry report by the American Petroleum Institute showed yesterday that US crude oil stocks had increased by 2.9 million barrels during […]
Read moreSeptember 9, 2020 8:55 am
Spot Gold was stuck within a tight trading range in Europe on Wednesday, as the US Dollar remained firm near a fresh one-month high against a basket of major peers, while market players awaited policy decisions by Bank of Canada and the European Central Bank later in the week. “Traders in Asia will adopt a […]
Read moreSeptember 8, 2020 9:20 am
Futures on US West Texas Intermediate Crude Oil retreated to a fresh ten-week low on Tuesday, as fuel demand concerns mounted with US summer driving season coming to an end. Additionally, a spike in confirmed COVID-19 cases in 22 out of 50 US states during the US Labor Day weekend added to demand fears. The […]
Read moreSeptember 4, 2020 9:23 am
Spot Gold edged higher on Friday, following two straight days of losses, as the precious metal benefited from lower US bond yields and a sell-off in equities prior to the release of key US jobs data later in the day. The yield on US 10-year government bonds was set to record the steepest weekly slump […]
Read moreSeptember 3, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil extended losses from the previous trading day and hit lows unseen in a month on Thursday due to concerns over weakening gasoline demand in the United States, even as crude oil stocks registered a sharp drop. A report by the US Energy Information Administration (EIA) showed on […]
Read moreSeptember 2, 2020 9:28 am
Following three straight trading days of gains, Gold retreated on Wednesday as the US Dollar regained ground after upbeat US manufacturing data added to investor optimism over economic recovery. The US Dollar rebounded from lows unseen since April 30th 2018 against six major peers, after the latest report by the Institute for Supply Management showed […]
Read moreSeptember 1, 2020 9:25 am
Futures on US West Texas Intermediate Crude Oil rebounded on Tuesday, as market players were buying riskier assets and selling the US Dollar, a traditional safe haven, following a shift in policy framework introduced by the Federal Reserve Bank last week. The central bank’s policy shift to target average inflation and higher employment suggested that […]
Read moreAugust 31, 2020 9:10 am
Spot Gold traded not far from two-week highs in Europe on Monday, after a shift in the Federal Reserve’s policy framework indicated borrowing costs in the country would stay low for a longer period of time. In his speech at the Jackson Hole virtual symposium last week Federal Reserve Chair Jerome Powell said the central […]
Read moreAugust 28, 2020 9:24 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Friday, as Hurricane Laura made a landfall in Louisiana and Texas, but did not cause severe damage to oil refineries in the area. On Thursday Louisiana was hit by Hurricane Laura, as its 240-kilometer-per-hour winds knocked down trees, caused […]
Read moreAugust 27, 2020 9:25 am
Spot Gold edged lower on Thursday, after recording its biggest single-day gain since August 17th on Wednesday, due to some profit-taking ahead of a highly anticipated speech by Federal Reserve Chair Jerome Powell at the annual economic policy symposium later in the day. “It was a pretty significant rally overnight on pretty limited news. The […]
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