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European Gas Advances on Rising US-Iran Hostilities
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 weeks 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 weeks 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 weeks 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 weeks 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 weeks 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 weeks ago
Commodities
Coal Hits 11-Week High
Coal prices rallied to around $145 per ton in early September, reaching their highest levels in eleven weeks amid robust global energy demand and persistent supply risks. The fossil fuel also advanced despite China reporting that solar power had become the country’s single largest source of electricity capacity, surpassing coal-fired power for the first time […]
by Currency Hedger
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- 2 weeks ago
Institutional, Technical Analysis
Global bond market sell off
Key takeaways Global bond market sell off haunts markets Global sovereign bonds are selling off as we start a new month. The UK is, unsurprisingly, taking the biggest hit. Two and 10-year yields rose by 10 basis points at one point on Tuesday, and are currently higher by 7 and 8bps respectively. The UK’s debt […]
by Currency Hedger
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- 2 weeks ago
Commodities
Cattle Fall Lower
Live cattle futures posted 60 cent to $1.55 losses on the day. Last week’s cash trade was mostly $220-222 late across the country. Nothing has been reported for this week. Feeder cattle futures were $1.10 to $1.97 lower at the close. The CME Feeder Cattle Index was down another 17 cents on August 31 to […]
by Currency Hedger
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- 2 weeks ago
Commodities
Coffee Prices Pressured by Rising Supplies
December arabica coffee (KCZ26) closed down -2.05 (-0.66%) on Tuesday, and November ICE robusta coffee (RMX26) closed down -68 (-1.93%). Coffee prices settled lower on Tuesday, with arabica falling to a 1-month low and robusta sliding to a 2.75-month low. Coffee prices have sold off sharply over the past week on the outlook for Brazil’s […]
by Currency Hedger
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- 2 weeks ago