Heat and outages support prices – Commerzbank

Heat and outages support prices – Commerzbank

Commerzbank analysts highlight that stronger heatwaves in Europe and Asia are likely to lift electricity demand and gas-fired power use, complicating European storage refilling. An explosion at Qatar’s LNG complex may delay a planned ramp-up to 80% of pre-war exports, keeping LNG supply tight for longer and potentially supporting higher gas prices through the summer. […]

Gold drops to two-week low, vulnerable on Fed hike bets and strong USD

Gold drops to two-week low, vulnerable on Fed hike bets and strong USD

Gold (XAU/USD) adds to its Asian session losses on Tuesday and drops to a nearly two-week low, around the $4,115 region in the last hour amid a bullish US Dollar (USD). Despite positive signals from US-Iran peace talks, widespread skepticism remains toward a final deal. This, along with the US Federal Reserve’s (Fed) hawkish tilt, […]

New Zealand softens to near 0.5700 despite US-Iran peace progress

New Zealand softens to near 0.5700 despite US-Iran peace progress

The NZD/USD pair trades in negative territory for the fifth consecutive day around 0.5705 during the Asian trading hours on Tuesday. The US Dollar (USD) strengthens against the New Zealand Dollar (NZD) on a hawkish tone from the US Federal Reserve (Fed). Traders brace for the preliminary readings of the US S&P Global Purchasing Managers […]