Oil prices rose nearly 1% on Wednesday after a bigger-than-expected decline in crude inventories, indicating robust demand. At the same time, weak data from the US raised the likelihood of a Fed cut in September, which would increase fuel consumption. Oil and crude inventories (Source: Nymex, EIA) The Energy and Information Administration reported that crude Read More…
Introduction Gold Futures (GC) are still performing well in 2024, up 14.2% YTD and 22% for the past 365 days. The main observations we can look at is the huge divergence between the 50 and 200 SMA. The 200 is steadily rising so long term investments and trades point bullish. At the moment, GC is Read More…
Introduction Crude Oil Futures (CL) for the most part are trading in a consolidation phase. YTD CL is up 15%. However, the performance has been mixed, influenced by a stronger dollar and global economic concerns, such as the rebound in Russian crude exports (Barchart.com) (Barchart.com). Weekly Chart Analysis The weekly chart shows CL recently had Read More…
Gold prices fell on Tuesday as high Treasury yields reduced demand for the yellow metal. This overshadowed slightly dovish remarks from Fed Chair Powell. At the same time, employment data showed continued resilience in the US labor market. Treasury yields remained elevated on Tuesday after a rally in the previous session. The 10-year yield rose Read More…
Equities rose on Monday due to a boost from technology stocks. At the same time, investors were preparing for major US economic reports shaping the outlook for rate cuts. Meanwhile, data from the US painted a picture of a weaker economy that could pressure the Fed to start implementing rate cuts. Shares of major tech Read More…
Currency Futures edged higher on Friday as US inflation eased in May, increasing the odds of a Fed rate cut in September. Still, most currencies ended the month lower amid economic, policy, and political changes. US inflation (Source: Bureau of Economic Analysis) Notably, the US released the core PCE report, a very significant inflation measure Read More…
