Nickel extends losses but remains near $20,000 a tone
2023-05-24 14:32PM UTC

Nickel prices declined on Wednesday as the dollar maintained strength against most major rivals while the US debt ceiling crisis progresses.


Debt Ceiling


White House and Congressional officials will meet later today to further negotiate after the failure of the previous talks to reach a compromise on raising the debt ceiling. 


US President Joe Biden will extend talks with Congressional leaders later this week in a race to a catastrophic default on debt next week. 


Many sticking points remain between both sides, with US Treasury Secretary Janet Yellen reiterating warnings from a potential default on payments next June, which would threaten the credit rating for the US and tip the economy into recession. 


Fed Meeting


Investors additionally await the Federal Reserve's meeting minutes later today to better gauge the path forward for monetary policy in the US.


Otherwise, the dollar index rose 0.2% as of 15:19 GMT to 103.7, with a session-high at 103.7, and a low at 103.3. 


Dollar's strength is weighing on most commodities and minerals and leading to a considerable decline.


Nickel spot prices tumbled 1.2% as of 15:30 GMT to $20.5 thousand a tone. 

Commodities News

Gold News


Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Gold News


Gold returns higher towards $2400
2024-04-18 18:59PM UTC
Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting ...
Gold News


Gold advances towards unprecedented peaks
2024-04-18 09:21AM UTC
Gold prices rose in European trade on Thursday, resuming gains and moving once again towards record ...

Commodities Technical Analysis

Brent oil Analysis


Brent oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Brent Oil Price Analysis Expected Scenario The Brent oil price bounced downwards strongly ...
Oil Analysis


Crude oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price couldn’t manage to hold ...
Silver Analysis


Silver price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Silver Price Analysis Expected Scenario Silver price returns to test the key support at ...