Since 17 April 2023, Mentha oil turned negative and posted nearly 3% fall. Prices continued to slip from the high of 996 and made a low 969.00. Yesterday, prices settled at 970.2, down by 0.91%. On the above daily chart, a complex head & shoulder pattern was noted. Also, prices
Dollar strengthened against its major peers on Monday. Currency sparked to the day’s high after the April survey of business activity in New York state rose for the first time in five months and bolstered expectations the Federal Reserve will raise interest rates in May. The dollar index, a measure
After witnessing an abrupt bullish move, the white metals retreated significantly and settled in a red. First intraday loss after 5 April 2023 on Friday. Precious metals suddenly slipped more than 1.5% after U.S. dollar rebounded from a one-year low. As bets on a May rate hike jumped after Federal
Lead prices turned positive as softer-than-expected U.S. inflation data spurred bets on an early rate-hike pause by the Federal Reserve. Further, better than expected trade data of China also supported recent gains. According to data from the Bureau of Labor Statistics on Wednesday. The consumer price index for the month
US Dollar weakens more than half percent yesterday which sparked Bullion prices to their multi –week high. Currency drop significantly as softer-than-expected U.S. inflation data spurred bets on an early rate-hike pause by the Federal Reserve, while growing fears of a recession also supported safe haven buying. Fed meeting minutes
Crude Oil was able to gain more than 1.70% yesterday. Prices sparked above previous day’s high amid growing hopes that the U.S. Federal Reserve will taper its hawkish stance. While a recent supply cut by the Organization of Petroleum Exporting Countries and allies (OPEC+) continued to provide support. Brent oil
Gold prices posted more than 0.70% gain yesterday. Precious metal sparked to the day’s high as the dollar retreated against its major peers. Greenback gave up its previous day gain as the market is waiting on inflation data. And its impact on the Fed decision. US CPI and Fed meeting
Silver prices continued its recent bullish move for the fifth consecutive week. Prices gained more than 3% on a weekly basis. Prices sparked to the new multiweek high wighted by the current economic jitters, global inflation worries and recession fears. The white metal is currently at a nearly one year
The U.S. dollar witnessed a smart recovery yesterday, which paused bullion’s recent upside momentum. Greenback recovered half percent after a solid jobs report for March on Friday added to expectations that the Federal Reserve will hike rates again in May. While the Japanese yen weakened as Japan’s new central bank
The dollar gained against the Japanese yen yesterday. The Yen weakens to the day’s low 133.64 against the dollar. After Japan’s new central bank governor Kazuo Ueda said, it was appropriate to maintain the bank’s ultra-loose monetary policy for now as inflation has yet to hit 2% as a trend.
