Natural gas futures fall sharply as mild weather weighs
U.S. natural gas prices fell to the lowest level in more than two weeks on Tuesday, as forecasts for mild weather across the U.S. in the week ahead dampened demand expectations for the fuel.
Oil prices down $1 as U.S. dollar surges
Crude oil futures tumbled on Tuesday, as the U.S. dollar rallied to a one-month peak amid expectations for higher U.S. interest rates later this year.s volatile Core CPI Index, which excludes food and energy prices, was ostensibly less deflationary. The Core CPI rose 0.3% for the month, its highest gain since January, 2013, and 1.8% on a year-over-year basis. The deflationary pressures could be attributed almost entirely to a sharp drop in energy prices. The Federal Reserve would like to see inflation move toward its targeted goal of 2% on an annual basis before it institutes its first interest rate hike in nearly a decade. Shortly thereafter, European Central Bank president Mario Draghi emphasized the importance of enacting structural reforms with the European economy during a speech in Sintra, Portugal. Draghi indicated that the reforms have the potential to permanently and positively impact the supply-side of the economy. Draghi said. Hours later, Federal Reserve chair Janet Yellen said that an interest rate hike will be appropriate at some point in 2015, if there are continual improvements in the U.S. economy. Speaking at a luncheon at the Greater Providence Chamber of Commerce, Yellen indicated that the U.S. economy appears well-positioned for continued growth as transitory factors from a colder than usual winter and a West Coast port labor dispute start to fade. While the dollar inched up following Yellen's speech, her address had little impact on the EUR/USD pair. Yields on U.S. 10-Year Treasuries rose by roughly two basis points on Friday to end the session at 2.215%. Bond markets typically rally when the CPI moves higher.
Gold prices higher after retail sales up in Japan, Greece eyed
Gold rose in Asia on Thursday with investors focused on the scope for continued easy policy in Japan.
NYMEX crude gains despite API reported build in stocks last week
Crude oil prices gained in Asia on Thursday despite higher than expected U.S. stockpiles last week as measured by industry.
Crude oil prices rose slightly on Wednesday with industry data ahead of U.S. stockpiles last week and geopolitical tension keeping the tone firm despite ample supplies.
Gold prices mostly steady in Asia as investors eye Greece, U.S. data
Gold prices held steady in Asia on Wednesday as investors looked ahead to Greece and renewed signals that a Federal Reserve rate hike is possible this year.