Nasdaq Commodities

Prices of most base metals climbed on Thursday, lifted by enhanced risk appetite after the U.S. central bank indicated it would stick with its interest rate cut plans for this year.

Malaysian palm oil futures rose for a second straight session on Thursday, supported by strength in Dalian and Chicago vegetable oils and better-than-expected export figures.

Prices of most base metals rose on Thursday, amid upbeat sentiment as investors eyed interest rate cuts by the U.S. central bank this year.

Chicago soybean futures gained more ground on Thursday to hit a one-week high, as excessive rains in Argentina raised worries over supplies and prompted traders to cover short positions.

Chicago Board of Trade (CBOT) soybean futures jumped 2% on Wednesday, climbing back above $12 a bushel as commodity funds appeared to cover short positions, brokers said, while news of fresh U.S. soybean export sales and excessive rains in Argentina lent support.

Chilean miner SQM and state-run copper producer Codelco said on Wednesday that the companies were extending the deadline to set terms on a partnership by two months to the end of May.

The US Federal Reserve left interest rates unchanged at 5.25 to 5.5 percent at this week's meeting.The widely anticipated move came after the central bank's second gathering of 2024, held from Tuesday (March 19) to Wednesday (March 20). The Fed has hiked rates 11 times since March 2022, but this is its fifth pause in a row. Looking forward, investors are watching closely to see if the Fed will be able to engineer a soft landing. Although inflation ticked up slightly in February, job growth is looking solid, so many market participants believe it's feasible. Market participants are also keen for clues on when the Fed will cut rates. Its new dot plot, which shows where each official thinks the federal funds rate is headed, shows three cuts of 0.25 percent each are penciled in for 2024. “Strong hiring in and of itself would not be a reason to hold off on rate cuts. No, not all by itself,” Powell said after the meeting, although he made no promises that inflation will be tamed in the near term. “Markets believe we will achieve that goal and they should believe that because that's what will happen over time, but we stress over time,” he added.CME Group's (NASDAQ:CME) FedWatch tool currently shows more than a 90 percent probability that the Fed will leave rates unchanged at its May gathering, and a 73.1 percent likelihood of a cut in June. Powell said the Fed is still on the lookout for "more good data" to solidify such a decision. ​Markets and gold react to Fed decision US markets reacted positively to the Fed's announcement, with the Dow Jones Industrial Average (INDEXDJX:.DJI) rising to a record close of above 39,500. Meanwhile, the S&P 500 (INDEXSP:.INX) passed 5,200 for the first time ever, and the Nasdaq Composite (INDEXNASDAQ:.IXIC) climbed by 1.25 percent to reach 16,369.41. “We had some inflation bumps this year but Jerome Powell’s not blinking,” David Russell, global head of market strategy at TradeStation, told CNBC. “Investors are relieved to see three cuts stay in the dot plot, supporting markets and risk appetite. The Fed might wake up with a hangover, but the punchbowl isn’t going away yet.”The gold price also took off after the Fed's decision, jumping from just above US$2,155 per ounce to more than US$2,200. The yellow metal tends to fare better when rates are lower, and it was also supported by a weaker US dollar. Many experts focused on gold believe it's poised to move higher, even after repeatedly reaching new highs this year. The broad consensus is that the mainstream expectation for a soft landing won't pan out, and gold will thrive once it becomes clear that other areas of the economy are suffering."At this point, people who believe in the soft landing, people who believe in the tooth fairy — they simply cannot ignore that the economy is slowing," Adrian Day, president of Adrian Day Asset Management, told the Investing News Network at the Prospectors & Developers Association of Canada convention in March. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - There have been five consecutive days of rallies into resistance around the 20-Day MA and each time price has been rejected to the downside. Today is the fifth but with one important difference relative to the previous three days. Trading has occurred below yesterd

Chilean miner SQM said on Wednesday the firm and state-run Codelco had extended the deadline to set terms on a partnership from the end of this month to the end of May.

New Zealand's Fonterra Co-operative Group said on Thursday its first-half profit soared on the back of higher margins and sales across a diversified product and category mix, while also declaring a bumper dividend for shareholders.

Cocoa prices on ICE recovered from steep early losses in a volatile session on Wednesday, with New York cocoa contract hitting a fresh historical peak, while sugar prices also gained.

New Zealand's Fonterra Co-operative Group said on Thursday its first-half profit rose 23%, helped by higher margins and sales volumes in food service and consumer channels, as well as lower associated costs in certain key markets.

Asset management companies seeking to offer investors still more ways to play the boom in U.S. mega-cap technology stocks are rolling out new exchange-traded funds (ETFs).

Egypt's state grains buyer, the General Authority for Supply Commodities, is believed to have bought two wheat cargoes in an international tender on Wednesday, traders said.

FXEmpire.com - Natural Gas Natural Gas 200324 Daily Chart Natural gas pulls back as traders need additional positive catalysts to push prices above the $1.75 level.

EasyJet is in talks with the European Commission about taking over slots at Milan's Linate airport that could be available as a result of Lufthansa teaming up with ITA Airways, the budget airline's chief executive said on Wednesday.

U.S. retail sales are expected to rise as much as 3.5% this year, a slower pace than 2023, industry body National Retail Federation said on Wednesday, as sticky inflation dampens hopes of a strong recovery in consumer spending.

A new front of heavy rains over key grains regions of Argentina could be "very damaging" to the South American country's current soy and corn crops and could dent production, a local grains exchange and a weather expert said on Wednesday.

Cocoa prices fell on Wednesday as a blistering rally that has seen prices nearly triple in 12 months paused despite persistent tight supply.

Ryanair CEO Michael O'Leary said on Wednesday he will meet with senior Boeing executives later in the day in Dublin to discuss prolonged delays in plane deliveries as a crisis at the U.S. planemaker deepens.