BlackBull Markets

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The commodity block currencies have been hit hard of late and are once again extending declines to multi-month lows against the US dollar. We're seeing clear divergence in monetary policy outlooks with deteriorating economic data in Australia, New Zealand, and Canada weighing on the respective currencies, while the added risk of trade wars only makes things that...

BlackBull_Markets Broker

UBS forecasts gold prices to reach $2,900/oz by the end of 2025, driven by central bank demand, increased investor interest, and a lower interest rate environment. UBS projects central bank purchases of 900 metric tons or more in 2025 as part of ongoing reserve diversification efforts. From a technical perspective, the 100 and 200 weekly Simple Moving Averages...

BlackBull_Markets Broker

As we come into the North American open, the US dollar remains in the driver's seat and is up pretty much across the board. Dollar demand is also found company in US equity futures, pointing to a lower open. But overall, with stocks trading just off record highs, the setbacks aren't anything to write home about. Euro weakness can be attributed to the lowest...

BlackBull_Markets Broker

Since the beginning of 2024, cocoa futures have more than doubled in price and are currently climbing for the seventh week in a row, hitting record levels. The mix of limited supply, high demand, and uncertain weather is keeping the cocoa market unpredictable. Analysts at ING expect prices to stay volatile through next year. Coffee has also seen a big price jump...

BlackBull_Markets Broker

Solid preliminary PMI data out of the Euro area helped to keep the Euro supported into dips, though overall we haven't seen much activity in markets so far on Monday. ECB President Lagarde commented that domestic inflation remains too high, but price momentum in the services sector has dropped steeply recently. Euro gains from the economic data were also offset by...

BlackBull_Markets Broker

Germany, Europe’s largest economy, is now under a caretaker government. Chancellor Olaf Scholz lost a confidence vote in the Bundestag on Monday, paving the way for a snap election in February. Key issues in the upcoming campaign are expected to include the war in Ukraine, the financial demands of strengthening Germany’s military, a struggling economy,...