Commodity Market to Remain Volatile Amid FOMC Moderation

NSE Launches WTI Crude Oil & Natural Gas Futures Contracts 

Investors will closely watch the statements of various FOMC members and Fed Chair Jerome Powell for clues on the direction of policy, particularly since both the ECB and the BoE have indicated that more rate rises are likely. 

Following an initial wave of optimism fueled by the impressive performance of tech giant Apple and a robust jobs report, a subsequent retreat occurred in most high-risk assets due to persistent macroeconomic challenges. In the past fortnight, risk sentiments were dampened by underwhelming economic data from both the United States and China, alongside ongoing concerns surrounding the US banking sector. These factors weighed heavily on market confidence. Additionally, the US dollar experienced gains as investors sought safe-haven assets amid the US debt ceiling standoff, marking its most significant weekly increase since February.