GIVE MISS CALL ON :- +91 99774 99927


CS MCX Commodity Evening mkt updates

Oil Edges Lower on Bets for Sizable Increase in U.S. Crude Supplies Crude prices ticked lower on Wednesday, amid speculation weekly supply data due later in the day will show a big buildup in U.S. oil and fuel supplies. Oil prices finished lower on Tuesday after the International Energy Agency raised concerns about a ramp-up in output by non-OPEC producers. The commodity has been on the backfoot recently as investors worried over soaring U.S. output levels. U.S. crude oil production, driven by shale extraction, has rebounded by almost 20% since the most recent low in mid-2016 to 10.2 million barrels per day, above that of top exporter Saudi Arabia and within reach of Russia’s output levels. That added to fears that rising U.S. output would dampen OPEC’s efforts to rid the market of excess supplies. The producer group, along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018. The deal to cut oil output by 1.8 million barrels a day (bpd) was adopted last winter by OPEC, Russia and nine other global producers. The agreement was due to end in March 2018, having already been extended once.

Gold Continues Higher as Dollar Softens Ahead of U.S. Inflation Data Gold prices continued higher on Wednesday, as investors looked ahead to U.S. inflation data to gauge how it will impact the Federal Reserve’s view on monetary policy in the months ahead. Gold futures scored back-to-back gains as the dollar weakened Tuesday. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. The greenback’s downward trend continued in early trade Wednesday. Against a basket of six major rival currencies, the dollar was a shade lower at 89.50, while the yield on the 10-year Treasury note eased back to around 2.83%. The Fed held interest rates unchanged last month and raised its inflation outlook, signaling that borrowing costs will continue to climb under new central bank chief Jerome Powell. Traders are currently putting the chances of a 25-basis-point hike by the Fed at its March meeting at around 76%, according to’s Fed Rate Monitor Tool.

MCX TipsStock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore ,  Intraday stock Tips , Financial Advisory company  , Sebi Registered Advisory company , Capitalstars Video Gallery

CapitalStars Provides  Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM