Why Oil Prices Have Been All Over the Place
The price of crude has been on something of a roller-coaster since the start of the year. From a sudden drop in the first days of January, it climbed through the third week, only to have a hard drop a couple of days ago. Naturally there have been news events that have driven these moves, […]
Crude Oil Prices Spooked by US Data, IEA Report as WTI Turns to EIA Inventories
Crude Oil, WTI, IEA Report, US Retail Sales, EIA Inventories – Talking Points: Crude oil sinks the most in 2 weeks as soft US data scares traders Meanwhile, an IEA report underscored 2023 global supply glut bets Focus shifts to EIA weekly stockpiles as WTI faces triangle pattern Recommended by Daniel Dubrovsky Get Your Free […]
Egypt’s soaring prices drive home economic pain By Reuters
5/5 © Reuters. FILE PHOTO: An Egyptian seller waits for customers to buy consumer goods, rice and oil at a popular market in Cairo, Egypt, January 18, 2023. REUTERS/Hadeer Mahmoud 2/5 By Mariam Rizk CAIRO (Reuters) – In better times, Om Mohamed’s family used to take holidays at resorts on Egypt’s Red Sea coast. Now […]
China Outlook Still Driving Platinum Prices
Platinum, Daily The USDIndex has fallen considerably in recent months and developments in China have been a driver of this trend alongside market expectations of a cooling Fed stance. The lifting of restrictions in China throughout November, followed by an optimistic market mood on how the global economic outlook could turn out, added to the […]
Canadian house prices fall 1.6% in December
Prices down 7.5% y/y Volume of sales +1.3% m/m vs -3.3% expected Activity down 39.1% y/y The Canadian housing market is in a tough spot and with the BOC set to hike again this month, it will get worse before it gets better. “In 2022, we saw one of the biggest single-year shifts on record […]
China property sector woes persist – new home prices fall again
Data for China’s December new home prices down 0.25% m/m down 1.5% y/y On Friday I posted on further support for the sector: China will loosen restrictions on Chinese developers’ financing with changes to the “Collective management system for real estate loans” on banks and also on the “Three Red Lines” policy. China will add […]
Monday morning open levels – indicative forex prices – 16 January 2023
Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week! On a Monday morning, market liquidity is very thin until it improves as more Asian centres come online. As usual for an early Asia Monday morning, prices are liable to swing around on not too much […]
Gold Prices Break Higher After US CPI Sank US Dollar, Where to for XAU/USD?
Gold, XAU/USD, US CPI, Inflation, Bonds, Fed – Asia Pacific Market Open Gold prices roar higher as in-line US CPI report sinks US Dollar Markets slowly pricing out 2 more Fed rate hikes in months ahead XAU/USD breakout restores upside momentum, hinting at gains Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Asia-Pacific Market […]
Farmgate rates of eggs hit record-high
Farmgate prices of eggs in Namakkal surged to a record high of ₹5.65 a piece on Friday on buoyant exports, higher input costs and increased offtake in North India due to a cold wave sweeping the region. However, the rates dropped by 30 paise on Monday. On Sunday, prices zoomed to ₹6.15 in Kolkata and ₹6.06 […]
Copper likely to witness supply deficit, prices may surge to $10,000/t
Copper will likely move into a supply deficit this year and its prices may rule higher than in 2022 targeting $10,000 a tonne, research analysts say.“On the demand side, we expect a rebound in mainland Chinese copper demand to boost prices along with a weakening dollar. On the supply side, we expect operational issues to […]