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WTI struggles near one-month low; remains on track to register heavy weekly losses

West Texas Intermediary (WTI) Crude Oil prices edge lower for the third successive day on Friday – also marking the sixth day of a negative move in the previous seven and hit a fresh one-month low during the early European session. The commodity currently trades just above the $81.00/barrel mark, down over 0.50% for the […]

USD/CAD trades higher near 1.3710 on market caution, downbeat Crude prices

USD/CAD traces the upward path on the fourth successive day, trading higher near 1.3710 during the Asian session on Wednesday. The pair is experiencing upward support amid cautious sentiment due to the US Federal Reserve’s (Fed) interest rates trajectory. The US Dollar Index (DXY) hovers around 107.10 at the time of writing, aligned with the 11-month high marked […]

Crude Oil Futures: Further recovery looks likely

Considering advanced prints from CME Group for crude oil futures markets, open interest rose by around 19.5K contracts after three consecutive daily pullbacks on Tuesday. Volume followed suit and went up by nearly 20K contracts, reversing at the same time three straight daily drops. WTI: Next target emerges near $95.00 Prices of WTI charted decent gains on […]

Gold Futures: Downside could be losing momentum

Open interest in gold futures markets dropped by around 1.4K contracts after two consecutive daily builds on Tuesday, according to preliminary readings from CME Group. Volume, instead, remained erratic and increased by around 12.3K contracts following the previous daily drop. Gold faces a tough support around $1800 Gold prices remained in free fall on Tuesday amidst […]

WTI edges lower ahead of OPEC+ panel meeting/EIA report, trades above $88.00

West Texas Intermediary (WTI) Crude Oil prices struggle to capitalize on the overnight bounce from a three-week low – levels just below the $87.00/barrel mark and edges lower during the Asian session on Wednesday. The commodity currently trades around the $88.15-$88.10 area, down over 0.35% for the day, though the downside seems cushioned ahead of the OPEC+ […]

Natural Gas faces slowdown in demand and Adipec Summit comments

Natural Gas prices are facing challenges on the demand side as a mild fall kicks off the last two seasons in Europe. In several parts of Europe,  temperatures are still above 20 degrees Celsius, not demanding households to open up the heating. With this delay and the European gas provisions for the winter still near full […]

Gold price faces pressure as US Dollar strengthens due to multiple tailwinds

Gold price (XAU/USD) continues its decline, pressured by multiple headwinds. Federal Reserve (Fed) policymakers support one more interest rate increase in the remainder of 2023 as a resilient United States economy could slow down the progress against inflation. Apart from that, a strong improvement in the US Manufacturing PMI despite higher interest rates has strengthened the economic outlook. […]

USD/CAD Price Analysis: The key barrier is seen at 1.3600 ahead of the Canadian, US PMI data

The USD/CAD pair loses some ground after being rejected from the 1.3600 barrier during the early European session on Monday. Traders await the Canadian S&P Global Manufacturing PMI for September ahead of the US ISM Manufacturing PMI due later in the North American session on Monday. The pair currently trades near 1.3570, losing 0.06% on the day.  […]

Natural Gas Futures: Scope for further correction

Considering advanced prints from CME Group for natural gas futures markets, open interest rose for the second session in a row on Friday, now by nearly 8K contracts. Volume, instead, dropped for the third straight session, this time by more than 2K contracts. Natural Gas: Upside remains capped around $3.00 Natural gas prices rose to fresh […]

Gold price bounces off multi-month low on weaker risk tone, not out of the woods yet

Gold price (XAU/USD) attracts some haven flow on Thursday and for now, seems to have snapped a three-day losing streak to a six-and-half-month low, around the $1,873-1,872 zone touched the previous day. Furthermore, a modest downtick in the US Treasury bond yields holds back the US Dollar (USD) bulls from placing fresh bets and turns […]