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G7 members are planning to ban imports of Russian gold in order to tighten the sanctions squeeze on Moscow. However, the precious metal is expected to ignore these news headlines according to TD Securities’ experts and economists.Key Quotes“G-7 ban on new Russian gold imports isn’t expected to impact gold trading …

The EUR/USD pair surged further during the US session and climbed to 1.0614, reaching the highest level in two weeks. The euro pulled back under 1.0600. It is holding onto daily gains, still unable to consolidate above 1.0600.Risk sentiment improvement weakened the US dollar. The Dollar Index is falling 0.25% …

The US crude oil extends its gains to two consecutive days, though it faces solid resistance at the 50-EMA, around $110.33.Western Texas Intermediate records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ has cut …

Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day, down from 1.4 million bpd previously, a report said on Monday. The said report was prepared for the group’s upcoming meeting of the OPEC+ Joint Technical Committee scheduled to take place on Tuesday.As for …

The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May.The latest data missed the market expectation of -3.1 by a wide margin. The New Orders sub-index dropped to 3.3 from 19.8, the Prices Paid for …

The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%. This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales …

With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

A Russian Kremlin spokesman has rejected accusations that Russia has defaulted on its foreign debt for the first time in more than a century. In a call with reporters, Kremlin spokesman Dmitry Peskov said that Russia had made bond payments due in May but had been blocked by Euroclear due …

Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

The dollar and the yen rose in a volatile session in Asia on Monday, as they benefited from a search for safe haven amid investor concerns that higher interest rates and weak economic data could mean a global recession is on the horizon. While stocks tracked Wall Street higher, currency …