The Dow Jones Industrial Average tumbled another 150-plus points on Thursday after US data hinted at a further contraction of the overall economy, briefly sparking risk-off bids into the US dollar and forcing Treasury yields lower alongside equity indexes. The Dow Jones backslides over 150 points on Thursday. Treasury yields …
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The number of Americans filing for initial unemployment benefits unexpectedly rose last week, indicating a potential slowdown in the labor market’s momentum. Initial jobless claims reached 242,000 for the week ending June 8th, surpassing the consensus forecast of 225,000 and exceeding the previous week’s total of 229,000. The four-week moving …
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Oil prices experienced a slight decline in early Thursday trading, reacting to the U.S. Federal Reserve’s decision to postpone interest rate cuts and growing concerns over ample U.S. crude and fuel stocks. Brent crude futures dipped 0.5% to $82.23 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell …
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The U.S. dollar retreated on Thursday, as market participants wrestled with the contrasting signals of subdued U.S. inflation and a more hawkish stance from the Federal Reserve. The Dollar Index, measuring the greenback against a basket of major currencies, dipped 0.3% to 104.340, easing from its recent mid-May peak. This …
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European stock markets took a hit on Thursday as the aftershocks of the U.S. Federal Reserve’s hawkish stance sent ripples across the financial landscape. Investors were left to grapple with the prospect of fewer U.S. rate cuts than anticipated, casting a shadow over global monetary policy easing. At the heart …
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Oil, Crude, trading
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The USD/CAD pair continues to exhibit a strong upward trend, bolstered by its firm footing above the crucial support level of 1.3690. Technical Outlook Our technical analysis suggests a continuation of the uptrend. The positive momentum derived from the simple moving averages, coupled with the Relative Strength Index’s (RSI) attempts …
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japanese-yen
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Oil, Crude, trading
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WTI crude oil futures prices experienced notable gains yesterday, reaching our previously identified target of 78.80 and peaking at $79.28 per barrel. Technical Outlook We maintain a cautiously bullish outlook, supported by the positive influence of the 50-day simple moving average and the price holding above the crucial 77.60 support …
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