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Coffee prices are on the rise on Wednesday, extending the rally to the fourth day in a row as the global production deficit is worsening. Rabobank upgraded its estimates for worldwide coffee shortfall by 300,000 bags to 2.5 million bags for 2016-17, and by 200,000 bags to 1.0 million bags for 2015-16. Vietnam, the world’sRead More
Natural gas rose on Monday after closing lower in the last session as concerns over a fuel surplus fade. Thanks to a hot summer with higher temperatures requiring above normal usage of air conditioning, natural gas consumption by power generators has been exceptionally strong, while the production has lagged. Last Thursday, the U.S. Energy InformationRead More
The Week That Was The week through August 19, 2016 was a mixed bag for the U.S dollar amid hawkish comments from Fed officials and the dovish tone in the minutes of the FOMC’s July meeting. Meanwhile, crude oil was raging ahead, fueling global stocks to near all-time record highs. Oil prices were flat onRead More
The Pound Sterling is set to register the first week of closing in the green, after a slew of “more-positive-than-expected” data readings that have helped dispel the negative post-referendum bias. Despite trading lower on Friday, the British Pound is believed to shake off any fears of further rate cuts from the Bank of England inRead More
Gold proved to be resilient, extending its gains into the third day in a row after a couple of U.S data releases before the market open could not rescue the greenback from trouble that resulted from the minutes of the Federal Reserve’s July meeting, published yesterday. The minutes reported divided opinion among Fed officials overRead More
Oil prices retreated from yesterday’s highs in today’s trading, paring gains from four days of gains in a row after data from the American Petroleum Institute showed an expected builds in petrol and distillates while hopes of output freeze talks faded as Iran expressed no eagerness to join the agreement. The API on Tuesday reportedRead More