Oil prices are likely to rebound firmly as IEA has stepped up demand forecasts. Substitution of natural gas to oil ahead of Winters is strengthening the black gold. Trimmed odds for Fed’s hawkish guidance are also supporting oil prices. West Texas Intermediate (WTI), futures on NYMEX, has witnessed a minor pullback to near $93.00 after printing… Read More »
Steel price prints mild gains on the way to fourth weekly uptrend. China real-estate market’s conditions, restart of steel manufacturing units challenge bulls. Fedspeak, US-China tussles and firmer yields are an extra burden on the metal prices. Increased prices of iron ore, recently easy inflation data add to the bullish catalysts. Steel price grinds higher… Read More »
Gold price remain mildly offered as bears attack short-term key support line. Market’s inaction amid a light calendar restricts immediate XAU/USD moves. Inflation, Fed and China are in focus after the recent risk-positive data stream. Preliminary readings of August month Michigan Consumer Sentiment Index will be important for clear directions. Gold price (XAU/USD) stays depressed… Read More »
AUD/USD bulls take a breather around 11-week top amid cautious optimism. Softer US PPI, Aussie CPI joined firmer equities to favor the pair buyers. Strong yields, fears of US-China tussles and the Fedspeak tested the upside momentum. Risk catalysts eyed for immediate directions amid a light calendar in Asia, US Michigan Consumer Sentiment Index is… Read More »
Tensions are running high with rising fears over a Chinese invasion of Taiwan in the not too distant future. While risks are rising, economists still see a rather small probability of a Chinese invasion of Taiwan in the next couple of years. However, the risk of war in the medium to longer term is high,… Read More »
Gold price remains pressured around intraday low, extends pullback from one-month high. US dollar traces Treasury yields as Fed policymakers reject post US CPI optimism. Headlines surrounding China also underpin the US dollar’s safe-haven demand. Gold price (XAU/USD) holds lower grounds near intraday bottom surrounding $1,784 as bears attack the 50-DMA heading into Thursday’s European… Read More »
Steel prices remains pressured as softer US dollar couldn’t impress buyers amid concerns over China, costing at home. Increased prices of coke, easing production strain also weigh on the metal prices. Headlines surrounding China, US consumer sentiment will be important for fresh impulse. Steel price reverses the post US inflation gains as traders fail to… Read More »
Market sentiment remains cautiously optimistic amid fears surrounding Fed’s aggression, China. Fedspeak appears mixed despite softer US CPI for July. Biden’s rethink on China tariff, covid case increase in Mainland China weigh on sentiment. S&P 500 Futures print mild gains, US 10-year Treasury yields remain sluggish. Risk appetite remains unclear during early Thursday, after the… Read More »
US Dollar Index pares the biggest daily loss in five month, grinds higher around intraday top of late. Fed policymakers hesitate in cheering downbeat US inflation. Biden’s rethink on China tariffs, covid woes in the Dragon Nation challenge risk-on mood. US PPI, Jobless Claims could entertain intraday traders. US Dollar Index (DXY) consolidate the biggest… Read More »
AUD/JPY reverses the previous day’s gains amid cautious optimism, downbeat Aussie data. Australia Consumer Inflation Expectations eased to 5.9% from 6.3% in August. US tariff chatters, covid fears in China test buyers despite US inflation-led market optimism. Yields, risk catalysts are important for clear directions amid a light calendar. AUD/JPY holds lower grounds near the… Read More »
