Silver Rose As Markets Opted To Keep Their Bets On Rate Cut By Fed In June.
Silver demonstrated a significant surge yesterday, closing up by 1.79% at 75170, driven by market anticipation of the first interest rate cut by the Federal Reserve in June. However, doubts emerged regarding this expectation due to unexpectedly persistent inflation data in the United States for February. The monthly core inflation data exceeded expectations, rising by 0.4%, while the annual core CPI stood at 3.8%, higher than anticipated but slightly lower than the previous reading. Fed policymakers closely monitor core inflation figures as they strip off volatile components like food and energy prices, providing a clearer picture of underlying inflationary pressures
Natural Gas Slid On Forecasts For Less Demand Over The Next Two Weeks.
Natural gas experienced a decline of -1.13% yesterday, settling at 140.1, primarily driven by revised forecasts indicating lower demand over the next two weeks. This downward pressure was further exacerbated by reduced gas flows to liquefied natural gas (LNG) export plants, attributed to ongoing outages at Freeport LNG’s facility in Texas. The market has been grappling with near-record output levels, mild weather, and decreased heating demand throughout the winter, leading utilities to store significantly more gas than usual for this time of year.
Silver Rose As Markets Opted To Keep Their Bets On Rate Cut By Fed In June.
Silver demonstrated a significant surge yesterday, closing up by 1.79% at 75170, driven by market anticipation of the first interest rate cut by the Federal Reserve in June. However, doubts emerged regarding this expectation due to unexpectedly persistent inflation data in the United States for February. The monthly core inflation data exceeded expectations, rising by 0.4%, while the annual core CPI stood at 3.8%, higher than anticipated but slightly lower than the previous reading. Fed policymakers closely monitor core inflation figures as they strip off volatile components like food and energy prices, providing a clearer picture of underlying inflationary pressures.
Silver Rose As Markets Opted To Keep Their Bets On Rate Cut By Fed In June.
Silver demonstrated a significant surge yesterday, closing up by 1.79% at 75170, driven by market anticipation of the first interest rate cut by the Federal Reserve in June. However, doubts emerged regarding this expectation due to unexpectedly persistent inflation data in the United States for February. The monthly core inflation data exceeded expectations, rising by 0.4%, while the annual core CPI stood at 3.8%, higher than anticipated but slightly lower than the previous reading. Fed policymakers closely monitor core inflation figures as they strip off volatile components like food and energy prices, providing a clearer picture of underlying inflationary pressures.
GET FREE MCX TIPS, FROM THE MCX GOAL’S TEAM. Mcx Crude Oil, Copper, Mcx Zinc, Mcx Gold Silver, Mcx Natural Gas. A FEW WORDS ABOUT US:- **INTRADAY VALIDITY. “Our Research and Analysis Based Tips are Intraday Validity Only” **RESEARCH TEAM. “We Have Very Expensive Team of CFA Professionals” Call/ Text/ SMS/ What’s App:- https://wa.me/919557016700 COMPANY LINK:- https://www.mcxgoal.com/
Crude Oil Rose After US Data Showed An Unexpected Decrease In Crude Stocks.
Crude oil prices surged by 2.05% in the previous session, settling at 6579, following unexpected declines in U.S. crude inventories as reported by the EIA Petroleum Status Report. The data revealed a reduction of 1.536 million barrels in crude stocks for the week ending March 8, 2024, contrary to market expectations of a 1.338 million barrel increase. This marked the first decline in seven weeks and contributed to a bullish sentiment in the oil market. Additionally, gasoline stocks witnessed a significant drop of 5.662 million barrels, the most in nearly a year, surpassing forecasts, while distillate stockpiles saw an unexpected increase of 888 thousand barrels.
