Tag: dropped
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Silver dropped amid fears that central banks may not be done with rate hikes.
[ad_1] yesterday settled down by -0.63% at 74970 amid fears that central banks may not be done with interest-rate hikes. Data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, touching the lowest level in two months. The U.S. Federal Reserve may pause interest rate hikes after delivering a…
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Menthaoil dropped due to reports of improved crop progress.
[ad_1] Mentha oil yesterday settled down by -0.82% at 872.6 due to reports of improved crop progress. Yield is likely to increase due to favourable weather conditions in major producing states. Moreover, reports of slack export of menthol will put pressure on prices. Rising menthol imports, as well as China’s limited purchasing, will put pressure…
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Silver dropped as the U.S. private-sector job growth surged higher in June
[ad_1] yesterday settled up by 0.23% at 69341 as traders positioned for Federal Reserve Chair Jerome Powell’s speech and economic data that could offer clues on future interest rate hikes. Sales of new single-family houses in the US jumped 12.2% month-over-month to a seasonally adjusted annualised rate of 763K in May of 2023, the highest…
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Gold dropped as labor market remains tight strengthened the case for hawkish Fed
[ad_1] Gold yesterday settled down by -0.52% at 58107 as the yield on the US 10-year Treasury note hovered around 3.7%, as investors weigh fresh economic data pointing to a resilient economy and prospects that interest rates will continue to march higher. Durable goods orders beat forecasts for a third consecutive month, new home sales…
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Steel dropped weak global economic growth outlook
[ad_1] yesterday settled down by -0.11% at 45810 under pressure from a weak global economic growth outlook and tepid demand in top consumer China. Factory activity in China slowed while manufacturing in the Euro Area and Germany contracted more than initially anticipated in June. Japan’s crude steel output is forecast to rise 2.2% in the…
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Silver dropped after US GDP growth was revised sharply higher
[ad_1] yesterday settled up by 0.23% at 69341 as traders positioned for Federal Reserve Chair Jerome Powell’s speech and economic data that could offer clues on future interest rate hikes. Sales of new single-family houses in the US jumped 12.2% month-over-month to a seasonally adjusted annualised rate of 763K in May of 2023, the highest…
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Silver dropped amid hawkish comments from central banks.
[ad_1] yesterday settled down by -0.33% at 68083 in the wake of hawkish comments from global central banks. Central banks in Australia and Canada raised interest rates earlier this month and central banks in the U.K., Switzerland, Norway, and Turkey raised interest rates on Thursday, while the Federal Reserve has telegraphed two more interest-rate hikes…
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Crude oil dropped amid raising concerns about the outlook for fuel demand.
[ad_1] Crude oil yesterday settled down by -4.17% at 5705 as inflation and interest-rate worries returned to the fore, raising concerns about the outlook for fuel demand. Pressure also seen as hawkish messages from major central banks raised concerns that interest rates will continue to march higher for longer, thus impacting demand even more. Fed…
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Silver dropped after Fed’s hawkish signals
[ad_1] yesterday settled down by -1.36% at 68308 after Federal Reserve Chair Jerome Powell made it clear that inflationary pressures continue to run high, and the tightening has “a long way to go”. The number of Americans filing for unemployment benefits was at 264,000 on the week ending June 17th, above market expectations to match…
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Mentha oil prices dropped on better sowing prospects.
[ad_1] Mentha oil yesterday settled down by -0.72% at 898.1 on better sowing prospects. Reports of increased acreages and sluggish export of menthol will weigh on prices. Rising menthol imports, as well as China’s limited purchasing, will put pressure on pricing. Mentha exports during Apr 2023, dropped by 42.52 per cent to 97.85 tonnes as…