Oil: Fed is not overly worried about inflation – ING
Source Fxstreet
Crude oil prices fell throughout Tuesday from China’s disappointing stimulus announcement eclipsing fears of a broader conflict in the Middle East, DBS’ FX strategist Philip Wee notes.
Brent erases Monday’s 3.7% rise
“Returning from its Golden Week holiday, the Shanghai Composite Index opened 10% higher in anticipation of more fiscal stimulus. However, the gains were trimmed to 4.6% when the outcome fell short of expectations.”
“Brent fell 4.6% to $77.18/barrel, erasing Monday’s 3.7% rise to 80.93. While oil prices have risen from the year’s low, they are still below levels a year ago, another reason why the Fed is not overly worried about inflation.”
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Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
Gold (XAU/USD) attracts some dip-buyers following the previous day's modest slide and climbs back above the $5,050 level during the Asian session on Wednesday.
Silver price (XAG/USD) recovers some lost ground to near $76.60 during the Asian trading hours on Friday. The white metal suddenly fell late Thursday, pushing silver down more than 11%.
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