Key Points Euro And Pound Rise: Both currencies edged up as oil prices paused, nearing multi-month highs against the US dollar. Fed Rate Cut Anticipation: Expectations of a Federal Reserve rate cut are pressuring the dollar, boosting the euro and pound. Oil Prices’ Impact: A recent pause in rising oil prices allowed the euro and …
Key Points Oil Price Surge: Tensions between Israel and Hezbollah caused a notable rise in oil prices, with Brent crude reaching $79.55 a barrel. Middle East’s Strategic Role: The region’s geopolitical instability risks further disrupting global oil supplies, potentially spiking prices. Risk of Broader Conflict: Any escalation could lead to a wider conflict, jeopardizing 3-4% …
Middle East Tensions Drive Oil Prices Up 0.75% to $75.39 Read More »
Quick Look: Steady Oil Price Forecasts: Analysts predict stable oil prices for H2 2024, with Brent at $83.66/barrel and U.S. crude at $79.22/barrel. Balanced Demand-Supply Dynamics: Prices are expected to remain in the $80-85 range, supported by stable supply and demand. China’s Waning Demand: China’s fuel oil imports fell by 11%, impacting global demand due …
Oil Prices Forecasted at $83.66 and $79.22 per Barrel in 2024 Read More »
Quick Look: The peso fell 0.8% to 18.7924 per dollar, hitting a seven-week low. Mexico’s GDP grew only 0.2%, missing the 0.4% target, hinting at potential rate cuts. Other Latin American currencies, like Chile’s and Colombia’s pesos, are also weakening. Uncertainty over US Fed decisions affects local stock markets and investor sentiment. Mexico’s peso recently …
Peso Drops 0.8% to 18.7924 per Dollar: Economic Challenges Read More »
Quick Look: Oil Prices Impact: The slump in crude oil prices weakens the Canadian Dollar, supporting the USD/CAD pair’s rise. Technical Indicators: Breakout above the 1.3740 supply zone and positive oscillators suggest a bullish outlook; Multi-Week Highs: Trading above mid-1.3700s, nearing a six-week peak, potentially reaching 1.3800 and beyond; The USD/CAD currency pair has been …
USD/CAD Continues to Show Positive Bias for Fifth Straight Day Read More »
Quick Look: West Texas Oil prices rose 2.4% due to a larger-than-expected drop in US crude stockpiles. Brent futures increased by 1.6%, and WTI crude prices climbed by 2.4%. US firms withdrew 4.9 million barrels, far exceeding the anticipated 30,000-barrel decline. A weaker US dollar supported oil prices despite falling refining margins. Incidents in the …
West Texas Oil Prices Surge 2.4% Amid Global Market Changes Read More »
Quick Look: Corn, Soybeans, and Wheat: A Day of Decline in Grain Markets December Corn: fell by 10½¢, driven by favourable U.S. growing conditions. November Soybeans: dropped 25¼¢, impacted by bearish WASDE data and low Chinese demand. September wheat Contracts declined, with CBOT down 18¼¢, KC down 12¼¢, and Minneapolis down 16¾¢. The world of grain …
Grain Markets Drop: Corn 10½¢, Soybeans 25¼¢ Lower Read More »
Quick Look: Dow Jones Futures Dip: Slight declines in Dow Jones, S&P 500, and Nasdaq futures as investors await the CPI inflation report. Stock Market Movers: Nvidia and Tesla lead gains; Cameco, Carvana, and GE Aerospace show buy signals; software and restaurant stocks face challenges. The stock market is always buzzing with activity, and Thursday …
Stock Market Dynamics: Dow, S&P 500, Nasdaq Futures Down Read More »
Quick Look: China Addresses overcapacity and waning demand across key industries like solar power, proposing market unification and grid enhancements. Solar power prices drop, copper is affected by economic uncertainties, steel exports surge, oil refining profits plunge, and grain prices hit lows. Solar faces overcapacity; copper deals with weak demand; steel tied to real estate; …
Upcoming Policy Changes in China’s Commodity Market Read More »
Quick Look: In June, India imported 2.13 million barrels per day of Russian oil, nearing a record high. Saudi oil imports dropped by 25%, the lowest over a decade. India aims to reduce dependence on any single region, enhancing energy security. Continued reliance on Russian crude is expected if price and geopolitical factors remain favourable. …
Russian Oil Imports Surge to 2.13 Million BPD in India Read More »
Quick Look: Trafigura and Gunvor’s aggressive buying of Brent grades led to a significant price surge of over 10%. Higher Brent prices benefit producers with increased revenues but raise consumer costs. US WTI Midland in the Brent benchmark adds flexibility and potential volatility. The oil market witnessed a whirlwind of activity recently, with major trading …
Trafigura and Gunvor Boost Brent Oil Prices by 10% Read More »
Quick Look: Robust May sales data from China drove a significant rally in oil prices on June 18, 2024. Heightened risks from Ukrainian drone strikes and potential Israel-Hezbollah conflict have bolstered oil prices. An unexpected increase in U.S. crude stocks led to a slight dip in oil prices on June 19, 2024. On June 18, …
Oil Prices Jump as Chinese Retail Sales Exceed Expectations Read More »
Quick Look: US CPI remained flat in May 2024, down from a 0.3% rise in April. Cooling gasoline prices significantly contributed to the stabilisation. Rose by 0.2% in May, marking the smallest annual gain since April 2021. In May 2024, the United States Consumer Price Index (CPI) saw no change. This stability comes after a …
Gasoline Prices Fall: US Inflation Remains Steady Read More »
One significant benefit of commodity trading is the ability to use leverage. Commodity futures contracts typically require a margin deposit of only a fraction of the contract’s total value, usually around 10%. For instance, trading an S&P 500 Index futures contract necessitates a slightly exceeding £20,000 margin deposit. If the Index increases by 20%, the …
Commodity Trading: Leveraging Margin for 100%+ Gains Read More »
Quick Look: Russia’s GDP is set to grow by 3.2% in 2024, with inflation rates exceeding 7%. Despite sanctions, Russia has diversified its economic partnerships, focusing on the East and the Global South. Russia has redirected oil exports to China and India, bypassing Western price caps. Gazprom faces significant financial setbacks, with a loss of …
Russian Economy Grows by 3.2% Despite Sanctions in 2024 Read More »
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