Tag: Commodities

Upbeat Powell sends gold to 16-month low

Gold has steadied in the Wednesday session after posting sharp losses on Tuesday. In North American trade, the spot price for one ounce of gold is $1226.78, down 0.08% on the day. On the release front, U.S housing numbers were softer than expected. Building Permits dropped to 1.27 million, shy of the estimate of 1.33 million. […]

Gold slips to 13-month low, Powell testimony next

Gold has posted sharp losses in the Tuesday session. In North American trade, the spot price for one ounce of gold is $1231.77, down 0.20% on the day. On the release front, Industrial Production rebounded in June with a gain of 0.6%, after a decline of 0.1% in May. Later in the day, the U.S […]

Commodities Weekly: Oil tumbles on supply/demand dynamics

Oil has been the biggest mover this week with the US-China trade war continuing to undermine the global demand outlook, despite an upbeat assessment of the US economy by Fed Chairman Powell. Gold is still struggling to maintain its safe haven status and other metals remain at the mercy of the rampant US dollar, while […]

Monday blues or Dog days of summer

Monday blues or Dog days of summer Whether a case of the Monday blues, the Dog Days of summer setting in or a combination of both, markets struggled for direction despite upbeat US economic data while quarterly earnings have failed to inspire investors. And we might chalk it up to a typical summer afternoon NY […]

Oil Drops After US May Grant Waivers to Iran Oil Purchases

Oil prices extended early losses on Monday, with U.S. crude dropping below $69 a barrel, after Treasury Secretary Steve Mnuchin said some crude importers may receive waivers to continue buying supplies from Iran, despite U.S. sanctions on the Middle Eastern country. “We want people to reduce oil purchases to zero, but in certain cases if […]

Trade ,earnings ,teapots and the US dollar

Trade, earnings, teapots and the US dollar Strong domestic growth and on-target core inflation continue to suggest the US economy is in that happy place,  but this week’s US economic data will begin to shape market expectations for Q2. And equally significant will be Fed Chair Powell’s semi-annual monetary policy testimony before the Senate Banking […]

Kuwait Could Reach Emerging Market Status

Kuwait has long been nicknamed the Sleeping Giant of the Gulf, and it is not exactly intended as a compliment. Kuwait is considered one of the least interesting of the Mideast regional economies and has done little to attract foreign investment. But that reputation might be set for a change. Kuwait’s stock market is being […]

Oil Ends Week Lower on End of Supply Disruptions

Oil prices were set for a second straight week of decline on Friday after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions. Brent crude LCOc1 was down 10 cents at $74.35 per barrel by 1308 GMT, having fallen earlier by 1.3 percent. It was heading for […]

The sky hasn’t fallen just yet

Trade War Escalates, but the sky hasn’t fallen just yet as optimism crept back into the market on reports of fresh bilateral trade negotiations between China and the US coupled with a slightly firmer RMB scrim. “Where there is a will, there is a way”. But when it comes to backroom negotiations, one can only […]