Key points: Copper prices on the LME dropped 0.8% to $4.90 per pound. SHFE copper edged down 0.4% to $5.42 per pound. Firmer US dollar and weak physical demand drag copper prices down. On Tuesday, prices of copper (Symbol: COPPER-C) …
Key points: The Bank of Korea will hold the base rate at 3.50% on May 23. A half-point rate cut is expected in Q4 2024 after potential policy easing from global peers. The Bank of Korea (BOK) will keep its …
Key Points: Brent crude futures fell toward $83 per barrel due to Middle East developments. WTI crude futures also declined to $78 per barrel. The OPEC meeting on June 1 is crucial for potential production cut rollovers. On Tuesday, both …
Key points: Australian dollar drifts 0.2% to $0.6654, with key support levels at $0.6650 and $0.6630. New Zealand dollar eases to $0.6091, with support around $0.6083 and $0.6031. The Australian and New Zealand dollars faltered on Tuesday as the momentum …
Key Points: The DXY index declined significantly due to softer-than-expected CPI figures, indicating a potential return to a disinflationary trend. Federal Reserve speculation rises as inflation data suggests possible easing of monetary policy in the fall. The U.S. Dollar Index …
Key Points: Australian dollar rises above $0.67, approaching four-month highs. New stimulus measures in China and interest rate cut expectations in the US collectively boost commodity prices. The Australian dollar (Symbol: AUDUSD) marched towards four-month highs, priced above $0.67, as …
Key points: Brent crude rose 0.3% to $84.24; WTI gained 0.2% to $80.21. U.S. replenishes Strategic Petroleum Reserve with 3.3 million barrels at $79.38 each. Oil prices edged higher in early Asian trading on Monday, adding to last week’s gains. …
Key points: Dollar index stable at 104.46; eyes on US PCE price index report due May 31. USDJPY weakens slightly to 155.80; traders wary of potential government intervention. The dollar held steady on Monday as investors anticipated further guidance on …
Key Points: Gold reaches a record high of $2,430 per ounce amid speculation of Federal Reserve interest rate cuts. Rising geopolitical tensions and strong central bank purchases bolster gold prices. Gold (Symbol: XAUUSD) climbed past $2,430 per ounce on Monday, …
Key Points: Optimism for US stock indexes shortlived since the US inflation data was announced, making record highs and then closing lower. Such pullback was mainly attributed to the rise in bond yields. Hawkish comments from Fed officials weighed on stocks. …
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