Latest news with #QuasarElizundia
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Gold Steady, Underpinned by Weak U.S. Economic Data
2345 GMT — Gold is trading steadily in the early morning Asian session, underpinned by weak U.S. economic data released overnight. Services activity unexpectedly contracted in May, while ADP data showed 37,000 jobs were created, the slowest pace of private-sector hiring in more than two years. The data has reinforced gold's appeal as a safe-haven asset, Pepperstone's Quasar Elizundia says in an email. The international backdrop is also favorable for gold, the research strategist adds, noting trade tensions between the U.S. and China. Spot gold is little changed at $3,374.86/oz. (
Wall Street Journal
21-05-2025
- Business
- Wall Street Journal
Gold Steady, Supported by Lingering U.S. Fiscal-Deficit Concerns
2339 GMT — Gold is steady in the early Asian session, supported by lingering U.S. fiscal-deficit concerns. Investors are reassessing the long-term outlook for U.S. sovereign risk after Moody's Ratings downgraded the U.S. credit rating last week, Pepperstone's Quasar Elizundia says in an email. Safe-haven assets such as gold could see heightened demand, the research strategist says. However, gold price's short-term upside may be limited if ETF outflows persist, Elizundia says, noting gold ETFs had strong outflows of 30 tons last week. Spot gold is little changed at $3,289.60/oz. (
Wall Street Journal
16-05-2025
- Business
- Wall Street Journal
Gold Consolidates; Likely Supported by Signs of Disinflation
2347 GMT — Gold consolidates in early Asian trade, but is likely supported by signs of disinflation. Gold prices have been showing notable resilience, Pepperstone's Quasar Elizundia says in an email. A key driver behind this resilience has been the latest U.S. CPI and PPI readings, which have given encouraging disinflationary signals, the research strategist says. This incipient disinflationary environment has led to falling U.S. Treasury yields, which reduce the opportunity cost of holding the non-yielding precious metal, Elizundia adds. Spot gold is little changed at $3,238.36/oz. (
Wall Street Journal
15-05-2025
- Business
- Wall Street Journal
Oil Falls Amid Surprise Increase in U.S. Crude Inventories
0006 GMT — Oil falls in the early Asian session amid a surprise increase in U.S. crude inventories. The American Petroleum Institute reported a 4.29-million-barrel increase in crude stocks last week, contradicting market expectations of a 2.4-million-barrel decrease, Pepperstone's Quasar Elizundia says in an email. 'This unexpected increase set a bearish tone that was later confirmed by the official EIA data,' the research strategist adds. Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 3.5 million barrels in the week ended May 9, the EIA said. Front-month WTI crude oil futures are down 1.5% at $62.20/bbl; front-month Brent crude oil futures are 1.3% lower at $65.22/bbl. (
Wall Street Journal
08-05-2025
- Business
- Wall Street Journal
Oil Consolidates; Larger-Than-Expected Fall in U.S. Inventories May Weigh
0007 GMT — Oil consolidates in early Asian trade. However, data released overnight by the EIA showed commercial crude oil stocks excluding Strategic Petroleum Reserve dropped by 2 million barrels in the week ended May 2. An analyst survey by The Wall Street Journal had predicted a 1.3 million barrel decline in crude stockpiles. Crude oil prices have been volatile as traders are still worried over OPEC+'s production policy, Pepperstone's Quasar Elizundia says in an email. OPEC+ is set to quicken production increases, heightening oversupply risks, the research strategist adds. Front-month WTI crude oil futures are 0.1% higher at $58.13/bbl; front-month Brent crude oil futures are steady at $61.13/bbl. (
