24-06-2024 03:35 PM | Source: Emkay Global Financial Services
Perspective by Ms.Riya Singh - Research Analyst, Commodities and Currency , Emkay Global
Below the Perspective by Ms.Riya Singh - Research Analyst, Commodities and Currency , Emkay Global
The report includes the following :
- Gold: Prices influenced by US economic data and Middle East tensions. Markets pricing in over 60% chance of Federal Reserve rate cuts.
- Silver: Prices rose despite the Federal Reserve's hawkish surprise. Weak US economic data keeps prospects for two rate cuts this year alive.
- Copper: Prices dropped over 6% due to increased production and changing weather patterns. Notable rise in LME inventories and record-high copper exports from China.
- Crude Oil: Prices rose for the second consecutive week as demand surged. Market sentiment improved since OPEC+ announced plans to increase production.
- Natural Gas: Prices dropped over 6% due to increased production and shifting weather patterns. Stockpiles rose 7 billion cubic feet (Bcf) for the week ended Mar 15.
- USDINR: The Indian Rupee lost momentum due to the rise in crude oil prices and potential intervention from the Indian central bank.
- US Dollar: The US dollar was firm due to the Federal Reserve’s steady policy stance and dovish positions of other central banks.
- EURUSD: The pair remained under bearish pressure due to disappointing PMI data from Germany and the Eurozone.
- GBPUSD: The pair lost 0.5% due to declining inflation expectations and potential policy shifts by the Reform Party.
Above views are of the author and not of the website kindly read disclaimer
To Read Complete Report & Disclaimer
Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Latest News
Daily Commodity Market Outlook 03.07.2024 by Mr. An...
Oil prices inch up on large US crude stock draw
Sell Kapas Apr @ 1610 SL 1625 TGT 1590-1580. NCDEX -...
Index is likely to open on a gap up note today and i...
Buy Zinc Jul @ 265 SL 262 TGT 268-270. MCX - Kedia A...
Top North Korean leader says economy shows `definite...
Nifty has an immediate resistance placed at 24270 a...
Buy Silver Sep @ 89400 SL 88800 TGT 90200-90800. MCX...
The Indian stock market benchmark indices ended with...
Gold flat as investors focus on Fed minutes
Top News
Sensex up more than 700 points
Tag News
Real Estate`s Hopes from The Upcoming Union Budget by Akash Pharande, Managing Director - Ph...
Daily Market Analysis : The markets experienced volatility and closed nearly unchanged, reflecting mixed cues Says Mr. Ajit Mishra, Religare Broking Ltd
Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd
Post-Market Comment by Mandar Bhojane, Research Analyst, Choice Broking