US import prices decline in July
Aug 13, 2015 14:58 pm UTC| Commentary
The fall in US import prices accelerated modestly in July, after falling 0.1% in June. Total import prices were down 0.9% m/m, above both (-1.5%) and consensus expectations (-1.2%). Petroleum and petroleum product prices...
Prices for corn, wheat and soybeans significantly under pressure
Aug 13, 2015 12:34 pm UTC| Commentary
US Department of Agriculture (USDA) published its crop forecasts yesterday. The estimates for the corn and soybean crops in the US significantly exceeded the markets expectations. The production estimate for US soybeans...
Global gold demand falls to six-year low in Q2
Aug 13, 2015 09:29 am UTC| Commentary
The steady devaluation of the Chinese yuan that has been ongoing now for three days is continuing to lend support to the gold price, driving it up for a time this morning to a 3½-week high of just shy of $1,130 per...
IEA expects global oil market to remain oversupplied
Aug 13, 2015 09:22 am UTC| Commentary
The International Energy Agency (IEA) has upwardly revised its estimate of global oil demand and now expects it to grow by 1.6 million barrels per day in 2015 and by 1.4 million barrels per day in 2016. At the same time,...
Oil prices recover after reported inventory drop in US
Aug 13, 2015 09:07 am UTC| Commentary
Oil prices were able to recover from their initial lows yesterday and closed trading slightly up. They are continuing their recovery this morning, Brent climbing to $50 per barrel and WTI to $43.5 per barrel, notes...
FxWirePro: GBP/USD consolidates in narrow range, good to sell on rallies
Aug 13, 2015 09:02 am UTC| Commentary
GBP/USD has recovered from the low of 1.5423 (Aug 7th low) till 1.5658 yesterday. Cable has once again retreated from that level. Overall trend is still weak as long as resistance 1.5690 holds. On the lower side...
PBoC commits to narrow CNY-CNH spread
Aug 13, 2015 07:22 am UTC| Commentary Central Banks
PBoC raised todays USD-CNY fixing rate to 6.4010 this morning, 704pips or 1.1% higher than yesterdays fixing, and also higher than yesterdays closing at 6.3858. As Chi-nas central bank devalued the CNY fixing rates sharply...