Metals News September 11, 2024
11 thg 9, 2024
The Dollar Index slightly increased by 0.08% on Tuesday, supported by reduced speculation of a 50 basis point rate cut by the Fed. The SWAP market is pricing in a 34% probability of a 50 basis point rate cut at next week's FOMC meeting, down from 50% following last Friday's U.S. employment report. Additionally, the rise of the dollar is capped by lower liquidity demand due to the strong surge in stocks.
The December Silver Futures price slightly declined. The settlement price on September 10 was 28.614 USD/troy ounce, down 0.13% compared to the previous session.
The October Platinum Futures price slightly decreased. The settlement price on September 10 was 944.3 USD/troy ounce, down 0.27% compared to the previous session.
The October Copper Futures price dropped. The settlement price on September 10 was 4.056 USD/pound, down 1.1% compared to the previous session.
Source: Compiled
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Data from the Mercantile Exchange Of VietNam (MXV) shows that the global raw material commodity market continued to exhibit divergence yesterday (March 18). The green trend continued to dominate, pushing the MXV-Index up by 0.66% to 2,225 points, extending the increase for the sixth consecutive day. The total trading value on the Exchange was over 5,700 billion VND.
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Robusta coffee and pepper are two of Vietnam's leading global exports, but the market share is increasingly falling into the hands of foreign companies.
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Oil prices extended their gains on Thursday (March 14), after US crude oil inventories unexpectedly fell, indicating rising demand. Additionally, potential supply disruptions following Ukraine's attacks on Russian refineries also supported oil prices.
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