August 26, 2020 9:20 am
Having settled at a five-month high on Tuesday, futures on US West Texas Intermediate Crude Oil eased on Wednesday as disappointing US consumer confidence data added to demand concerns, limiting price gains. Both WTI Crude and Brent Oil futures rose more than 2% on Tuesday, as US producers were making preparations before Hurricane Laura hits […]
Read moreAugust 25, 2020 9:18 am
Spot Gold extended losses from the previous trading day in Europe on Tuesday as the US Dollar held steady in proximity to recent over one-week highs, while market focus now turns to Fed Chair Jerome Powell’s speech at the Jackson Hole virtual symposium, scheduled on August 27th-28th, for further clues over US monetary policy outlook. […]
Read moreAugust 24, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil rebounded on Monday as tropical storms descended upon the Caribbean and were nearing the Gulf of Mexico, causing the shutdown of over half of its oil output. In addition, oil prices were supported by news that US health authorities approved the use of blood plasma from recovered […]
Read moreAugust 21, 2020 9:33 am
Spot Gold erased part of Thursday’s gains, but remained supported above the $1,920 mark in Europe on Friday. Still, the commodity was poised for a second straight week of decline, as the US Dollar pared earlier losses. Yesterday the precious metal rose almost 1%, as the dollar and US bond yields dropped after an unexpected […]
Read moreAugust 20, 2020 9:17 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday on demand recovery risks stemming from a prolonged COVID-19 crisis and a lower-than-anticipated drop in US crude oil inventories. A report by the US Energy Information Administration showed on Wednesday that crude oil stocks had decreased by 1.632 million barrels during the week ended […]
Read moreAugust 19, 2020 9:23 am
Having touched a fresh one-week high on Tuesday, Spot Gold eased back below the $2,000 mark on Wednesday as the US Dollar steadied near lows last seen in early May 2018 ahead of the release of the latest FOMC Minutes. “Gold is down as the U.S. dollar strengthened slightly this morning. In the short term, […]
Read moreAugust 18, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Tuesday after the Organization of the Petroleum Exporting Countries and allies, collectively known as OPEC+, said members were almost entirely complying with production cuts in support of oil market as fuel demand remains subdued due to the pandemic. OPEC+ […]
Read moreAugust 17, 2020 9:26 am
Spot Gold started the new week on a stronger footing in Europe as the latest macro data from Japan and the United States added to prospects of a sluggish economic recovery. Still, a slight improvement in investor risk appetite due to signs of easing US-China tensions could limit upside for the yellow metal. An official […]
Read moreAugust 14, 2020 9:30 am
Futures on US West Texas Intermediate Crude Oil fell on Friday, but were still headed for a second weekly gain after the latest government data showed US crude oil stocks had dropped more than anticipated last week. On the other hand, two prominent forecasters cut their 2020 oil demand projections, which pared weekly gains for […]
Read moreAugust 13, 2020 9:15 am
Spot Gold rebounded on Thursday and maintained ground above the $1,900 mark, as US 10-Year Bond yields eased from one-month highs, thus, lowering the opportunity cost of holding the yellow metal, while the US Dollar weakened against major peers due to continuing political stalemate in the United States over coronavirus aid. The impasse is obstructing […]
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