Gold bounces off four-week low; remains vulnerable near $4,300 amid Fed hike bets
Metals, Technical Analysis
Gold bounces off four-week low; remains vulnerable near $4,300 amid Fed hike bets
Gold (XAU/USD) recovers slightly from a nearly four-week low, which it touched during the Asian session on Wednesday, and currently trades just above the $4,300 mark, still down over 0.50% for the day. The escalating Middle East conflict lifted crude oil prices to a fresh high since July 24, stoking inflation fears and reaffirming US Federal […]
by Currency Hedger
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- 2 months ago
CHF, USD
Swiss Franc weakens as Fed rate hike fears lift US Dollar
USD/CHF gains for the second successive day, trading around 0.8130 during the Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) advances amid rising bond yields and surging oil prices, which have reignited concerns over persistent inflation and the likelihood of potential interest rate hikes. Driven by a global bond selloff, the […]
by Currency Hedger
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- 2 months ago
Currency Talk, USD
Rupiah Extends Losses Amid Firmer Dollar
The Indonesian rupiah slipped toward IDR 17,780 per U.S. dollar on Wednesday, down for the second session as the dollar index strengthened to a near three-week high amid surging oil prices that stoked inflation concerns and reinforced views of a less accommodative Fed stance. Locally, caution emerged ahead of key domestic data due next week, […]
by Currency Hedger
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- 2 months ago
Energies
Heating Oil Surges to Record High
US heating oil prices surged past $4.70 per gallon in early September, hitting a fresh record and leaving prices about 100% higher than a year earlier amid tightening distillate markets. Supply risks have intensified as escalating tensions between the US and Iran raise concerns over oil flows through the Strait of Hormuz, while Ukrainian attacks […]
by Currency Hedger
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- 2 months ago
Energies
European Gas Advances on Rising US-Iran Hostilities
European natural gas prices rose further to €75/MWh on Wednesday, the highest level since January 2023, as rising hostilities between the US and Iran heightened fears of a prolonged disruption to LNG supplies from the Persian Gulf. Iran struck back at US military bases in Jordan, Kuwait and Bahrain following the latest US attacks on […]
by Currency Hedger
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- 2 months ago
Metals
Platinum Hits 2-Week Low
Platinum futures fell below $1,740 an ounce, hitting a two-week low as rising global bond yields and a stronger US dollar weighed across the precious metals complex. The escalating conflict between the US and Iran continued to push oil prices higher, fueling concerns that persistent inflation could prompt the Federal Reserve to raise interest rates […]
by Currency Hedger
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- 2 months ago
Metals
Nickel Falls to Over 1-Month Low
Nickel traded around $16,600 per tonne, reaching its lowest level since early July, as ample near-term supply weighed on prices. Indonesia imported 11.4 million tonnes of nickel ore from the Philippines in January-July, up from 6.82 million tonnes a year earlier, indicating continued feedstock availability for Indonesian smelters despite tighter mining quotas. Additionally, MHP supply […]
by Currency Hedger
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- 2 months ago
Commodities
Palm Oil Retreats on Weak Demand, Heavy Supply
Malaysian palm oil futures hovered below MYR 4,950 per tonne, ending their recent rally as weaker edible oils on the Dalian and Chicago exchanges weighed on sentiment. Weak exports added pressure, with cargo surveyors estimating Malaysian palm oil shipments fell 6.5%–14.9% in August from the prior month. Ample supply also remained a concern, with inventories […]
by Currency Hedger
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- 2 months ago
Metals
Copper Falls on Demand Concerns
Copper fell toward $6.4 per pound on Wednesday, hitting its lowest level in a month as rising oil prices and global bond yields kept inflationary risks and interest rate concerns in focus, weighing on the demand outlook. Oil prices advanced for a third consecutive session amid escalating hostilities between the US and Iran, complicating efforts […]
by Currency Hedger
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- 2 months ago
Energies
US Natural Gas Prices Rise
US natural gas prices rose to $2.94/MMBtu, reaching their highest level in nearly eight weeks, as hot weather persisted and LNG export activity strengthened. Forecasts indicate that temperatures will remain mostly above normal across the central US through mid-September, likely keeping demand for gas-fired power generation elevated. At the same time, average gas flows to […]
by Currency Hedger
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- 2 months ago