Here is what you need to know on Friday, August 12: The risk rally that was fueled by the soft US inflation data mid-week lost its steam and the market action turned choppy ahead of the weekend. The US Dollar Index moves sideways in a narrow channel above 105.00, the 10-year US T-bond yield holds… 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 »
Treasury bonds decline even after another reading below expectations of US inflation. Gold fails to rise above $1800 and correct lower. Immediate support is seen at $1785, followed by $1774. Gold turned negative for the day after a reversal from near $1800. XAUUSD peaked at $1799 during the American session and then turned to the… 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 »
Here is what you need to know on Wednesday, August 10: Major currency pairs are struggling to make a decisive move in either direction as market participants remain on the sidelines while waiting for the US Bureau of Labor Statistics to release the July inflation report. The market mood remains cautious early Wednesday with the… Read More »
Steel price retreats amid cautious markets, fears of less margin on the production front. Softer China inflation, economic slowdown concerns join pre-CPI anxiety to weigh on sentiment. The anticipated increase in output joins firmer coke prices to challenge profits of steel producers. Steel price tracks other commodities to the south as market players await the… Read More »
Steel prices are eyeing more recovery in prices as demand rebounds. China’s decarbonization goals are likely to trim in the second half of CY2022. This week, China’s inflation data will be of utmost importance. Steel prices have rebounded sharply after bottoming out in July as demand forecasts have improved after robust iron ore purchases in… Read More »
Gold price edges higher on Monday, up by 0.72%, as US bond yields fall. Broad US dollar weakness keeps the non-yielding metal buoyant, underpinned by the US-China conflict in Taiwan. Fed’s Bowman: Backs a 75 bps in September and supports “similar-size” moves in subsequent meetings. Gold Price Forecast (XAUUSD): Neutral-to-bearish below $1800; otherwise, a test… Read More »
Here is what you need to know on Monday, August 8: Boosted by the upbeat July jobs report, the US Dollar Index (DXY) gained 0.8% on Friday and ended up snapping a two-week losing streak. Markets stay relatively quiet early Monday and the DXY consolidates Friday’s gains. The European economic docket will feature the Sentix… Read More »
Steel price rebounds from one-week low amid cautious optimism in metal markets. Turkish entry into global scrap market, easing fears of US-China tension over Taiwan also underpin corrective pullback. Maintenance closures in European steel manufacturing units, strong China trade numbers for July favor steel buyers. Hawkish expectations from Fed, recession fears challenge metal prices. Steel… Read More »
