Key points: Chicago wheat prices rose 0.4% to $7.01 a bushel, marking a 7.6% weekly gain. Corn futures increased by 0.3% to $4.65-1/4 a bushel, while soybeans fell 0.1% to $12.38-1/4 a bushel. Chicago wheat prices gained more ground on …
Gold (XAU/USD) experienced a sharp drop on Wednesday, settling just above the important support level of $2,375. This support is vital for bulls, as holding this line could prevent a deeper retracement towards $2,360. Should the weakness continue, the focus …
Key Points: Brent crude futures continued to fall to $81 per barrel, and WTI crude futures dropped to $76 per barrel. The FOMC meeting minutes indicated the potential for further rate hikes if inflation surges, impacting the demand for crude …
Key points: The pound held at $1.2722, near a two-month high after inflation data and election announcement. British inflation rose by 2.3% annually in April, nearing the Bank of England’s target but slowing less than expected. The British pound held …
Key points Analyst prediction: Gold may drift back to $2,355 if the dollar maintains upward momentum. Fed minutes: Indicated discussions of possible further interest rate hikes. ANZ outlook: Rising prices could temper discretionary gold buying. Gold prices fell for a …
Key Points: Fed officials indicated a willingness to raise rates again if inflation persists. The Fed maintained its benchmark interest rate at 5.25%-5.5%. The US Dollar Index (Symbol: USDX) strengthened on hawkish Fed minutes. Market reactions include a drop in …
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 …
