Oil prices closed at a 5-month peak on Wednesday due to supply concerns. Geopolitical tensions escalated while OPEC member countries agreed to continue with output cuts. Consequently, investors worried that the market would become tighter. WTI (Source: NYMEX) The wars in Gaza and between Russia and Ukraine have contributed to a lot of supply distractions Read More…
On Tuesday, gold prices rallied to a new high on safe-haven demand amid ongoing geopolitical tensions. Prices rose despite an increase in Treasury yields after upbeat US data. Gold rallies (Source: Bloomberg) Tensions in the Middle East and between Russia and Ukraine have pushed some investors to hedge against any escalation affecting other markets. At Read More…
Equities fell on Monday as investors lost confidence in a June Fed rate cut due to upbeat manufacturing data. Notably, most sectors in the S&P 500 closed the day lower, except energy. This sector gained with oil as the demand outlook improved after upbeat manufacturing data from the US and China. US rate-cut bets (Source: Read More…
Currency futures edged higher on Friday as the dollar pulled back after inflation fell. However, volatility was low as US markets were closed for the Good Friday holiday. Still, the US released its core PCE price index report, which revealed a drop in inflation from 0.5% to 0.3%. At the same time, consumer spending increased, Read More…
On Wednesday, oil prices broke below the previous session’s lows before closing with gains as supply worries continued. Moreover, oil was set to end the month with a 4.5% gain, marking the third consecutive bullish month. Notably, the oil market has grown tighter due to geopolitical tensions. All meetings to try and pause the Israel-Hamas Read More…
Gold prices rose Tuesday as rate-cut expectations rose ahead of crucial US inflation data. The price held near highs, marked last week after Powell’s dovish press conference. Moreover, there was increased demand as central banks continued to buy gold. Despite a small retreat, gold has held near recent highs. March has been a very good Read More…
