Sentiment in the commodity market remains fragile amid rising geopolitical tensions as crude oil fell as the prospect of rising supply rattled sentiment, strategists at ANZ Bank apprise. “Yesterday it emerged that Russia was determined to ease back on output cuts in July. Even though this complies with the supply agreement, it disappointed the market.” “Some...
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- Gold dropped to its lowest in two-weeks on Wednesday as hopes of quick economic recovery drove investors towards riskier assets, although U.S.-China tensions over Hong Kong put a floor under bullion prices. Spot gold was down 0.6% at $1,700.30 per ounce by 1223 GMT. U.S. gold futures fell 0.8% to $1,691.80. “It’s very important for gold prices to stay above...
Crude oil prices turn negative during the American session. WTI having the worst slide in five weeks, retreats from two-month highs. WTI (July futures on Nymex) broke to the downside and lost 4% in a few minutes, falling to $32.10, the lowest level since last Friday. The price is losing almost $2. The move lower took place as equity prices in Wall Street...
The Australian dollar rallies on strong risk mode on Tuesday and hit the highest since 10 Mar. Extension above former high (0.6616) is pressuring 200DMA (0.6656), with break here to generate bullish signal for continuation of uptrend from 0.5509 (19 Mar spike low). Strong bullish momentum is accompanied by multiple bull-crosses (5/100; 10/100; 20/100DMA’s) as...
Detail of an Apple Airpod wireless earphone, taken on January 23, 2017. (Photo by Neil Godwin/T3 ... Magazine/Future via Getty Images) Future via Getty Images Apple’s resolutely popular AirPods are facing a new type of competition in 2020 from two unlikely sources: Google and Microsoft. Not in sound quality, not in design and not in brand awareness. Those...