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The FXGT Blog
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Commodities
15 July 2024
The week ahead – All Eyes on Inflation Data
Critical inflation reports from the UK, Canada, and New Zealand will be closely watched.
15 July 2024
Weekly Market Recap – Wall Street Hits Record Highs on Soft CPI Data
The S&P 500, Nasdaq, and Dow Jones Industrial Average all reached record highs, driven by Federal Reserve Chair Jerome Powell's comments hinting at potential interest rat...
9 July 2024
Oil Prices Slip Below Key Support After Five-Week Rally, Focus Turns to $80 Target Level
Monday's price action brought a significant development as crude oil broke below key 4-hour support level at $82.50, signaling the potential formation of a daily top.
8 July 2024
China's Pause on Gold Purchases and US Data Influence Gold Market
Official data released on Sunday showed that the People's Bank of China (PBoC) did not add to its gold reserves for the second consecutive month in June, keeping its hold...
8 July 2024
The week ahead – All Eyes US Inflation Data
Fed Chair Jerome Powell will testify before the Senate Banking Committee on Tuesday and Wednesday, likely adopting a dovish tone for 2025 rates due to recent soft PCE inf...
8 July 2024
Weekly Market Recap – Third Quarter Kicks Off with New Highs
The NASDAQ 100 and S&P 500 hit new highs, gaining 3.2% and 1.6%, while the Dow rose 0.4%.
2 July 2024
WTI Crude Oil Gains Over 5% in June Amid Geopolitical Tensions and Summer Driving Demand
West Texas Intermediate (WTI) added over 5% in June and continues to show gains in early July, reaching new two-month highs.
1 July 2024
Weekly Market Recap – US Stocks Close June Strong as Jobless Claims Increase
The major US stock indexes remained relatively unchanged over the week but closed June with notable gains. The S&P 500 increased by 3.50%, the Nasdaq 100 climbed by 6.60%...
27 June 2024
WTI Crude Balances US Inventory Rise with Geopolitical Risk Factors
Crude oil future prices dropped to below $80.50 during the Asian session on Thursday, retreating from a two-month high of $81.90 reached on Tuesday. However, they rebound...
12 June 2024
Oil Prices Climb on Revised Demand Forecasts and Inventory Declines
Oil prices continued to increase on Wednesday, supported by upbeat global demand projections from the U.S. Energy Information Administration (EIA) and OPEC, alongside ind...
11 June 2024
Gold's Bull Run Hangs on $2275 Support with FOMC and CPI In Focus
Gold has risen 12% since the start of the year. Recently, however, it has been consolidating within a broad range after encountering strong resistance at $2,400 in both A...
11 June 2024
China’s Gold Buying Pause and US Rate Speculation Hit Gold Prices
Gold saw a significant decline on Friday, closing 3.50% lower after the People’s Bank of China announced it did not add gold to its reserves in May, ending an 18-month st...
10 June 2024
Weekly Market Recap – S&P 500 and NASDAQ 100 reach new record highs
U.S. stock indexes recovered from recent losses, ending the week higher with the NASDAQ 100 and S&P 500 hitting new record highs.
3 June 2024
Oil Prices Hold Steady as OPEC+ Extends Production Cuts into Next Year
Oil prices remained steady after OPEC+ decided to extend all production cuts into next year while outlining a gradual phase-out plan for some reductions. This move aims t...
3 June 2024
Weekly Market Recap – Major Indexes Post Monthly Gains
Major indexes ended the week lower but concluded May with strong gains. Over the week, the S&P 500 declined by 0.35%, the Nasdaq 100 fell 1.4%, and the Dow lost 0.8%. Des...
28 May 2024
Crude Oil Prices Rise Amid Stronger Demand Expectations and Geopolitical Tensions
U.S. crude futures increased on Tuesday, boosted by expectations of stronger fuel demand as Memorial Day weekend marked the start of the summer driving season. West Texas...