‘The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability’: Prices fell the most in these U.S. states
Americans are finding it hard to afford homes at mortgage levels now beyond 7%, according to some measures. Home prices have begun to reflect that. As mortgage rates rose in the last quarter of 2022, Americans found the cost of homeownership increasingly challenging, adding hundreds of dollars in interest to their potential monthly mortgage payment. […]
Lead prices likely to rule at levels similar to 2022
Lead metal prices have dropped by nearly 10 per cent since the beginning of 2023 and they will likely rule in the $2,000 a tonne region this year — similar to 2022, analysts say.On Friday, the lead three-month contract was quoted at $2,108 on the London Metal Exchange, while for cash the soft, malleable, ductile […]
Tin prices may not recover until the end of H1 this year
Tin prices have declined by 17 per cent over the past month and they are likely to be under pressure until the first half of 2023 due to the strength of the dollar and slack demand.“We anticipate that prices will remain pressured over H123 as the global economy continues to slow,” said Fitch Solutions Country […]
Automakers Are Slashing Prices To Sell Off Excess Inventory
Via AG Metal Miner The Automotive MMI (Monthly MetalMiner Index) rose slightly higher than in previous reports. Month-over-month, the index went up by 5.08%.Automobile inventories may be rising, but consumers are much more reluctant to purchase than they were six months ago. With interest rates still climbing, more and more consumers continue to steer away […]
Aluminium likely to rule firm in 2023 on supply woes, rising demand
Aluminium prices will likely rule firm in 2023 on supply constraints and rising demand, especially with China easing Covid-19 curbs, analysts say. Fitch Solutions Industry Research and Country Risk, a research unit of the Fitch Group, sees prices ruling at elevated levels but not rallying to the highs seen in 2022.Goldman Sachs, on the other hand, […]
XAGUSD Intervening Wave Ⓧ Pushes Prices Higher!
As a few weeks ago, XAGUSD suggests the construction of a global triple zigzag consisting of cycle waves w-x-y-x-z. The 1H timeframe shows the marking of the second intervening wave x, which may soon be completed, taking the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The bullish wave Ⓨ consists of intermediate […]
DXY Triple Zigzag to Lower Prices!
The current DXY structure suggests we are at the end of a global corrective trend. This is in the form of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It seems that the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have ended. In the near future, the price depreciation is expected to continue in the primary wave Ⓩ. It is also like the […]
Further rout in prices is unlikely – TDS
Historically mild weather through January has seen natural gas demand slump well below seasonal norms. Is there a bottom in sight for gas markets? Strategists at TD Securities analyze the outlook for the commodity. Weak prices could keep production growth flat for now “We expect that weak prices could keep production growth flat for now, […]
Oil Prices Fail to Hold Post-Fed Gains, Charts Look Heavy
Crude Oil Price, Chart, and Analysis Oil prices made fleeting gains after US rates rose as expected Major producers agreed to extend their production cuts on Wednesday US inventories rose by much more than expected Oil prices slipped back in Thursday’s European session after short-lived gains in Asia following the United States Federal Reserve’s quarter-point […]
Gold Prices (XAU) Retreat from Recent High, Silver (XAG) Follows Suit
Gold (XAU/USD), Silver (XAG/USD) Outlook: Gold prices rise to nine-month high – Fed, ECB and BoE rate hikes boost precious metals before retreating to support. Silver futures wrestle with resistance around $24.220, a key historic level that continues to keep bulls in check. Interest rates rise in-line with expectations – economic outlook remains bleak as […]