The British Pound was painting a clear negative picture against the US dollar, flirting with the target levels for the current range at 1.2890, reaching its lowest level during the previous trading session at 1.2885. Technically, the pair’s moves are witnessing an attempt to re-test the previously broken support level …

The Dow Jones Industrial Average witnessed mixed trading in New York during the previous session as it attempted to bounce back to the upside again. Technically speaking, despite the inclination towards the upside, we still maintain the bias towards negative trades, considering the price remains stable below 28200/28195 in addition …

US crude oil futures were trading on the positive side after several losses, and we indicated in our latest analysis that the continuation of the decline depends on confirming the break of 36.00 in order for oil to be able to form a strong floor around the aforementioned level. An …

US Energy Secretary Dan Brouillette said that Hurricane Laura caused massive damage to a site that houses about 30% of the country’s emergency crude oil reserves, but three other sites still have a lot of oil. The damaged Strategic Petroleum Reserve site in West Huckberry, Louisiana, contains nearly 8.2 billion …

FX option expiries for Sept 10 NY cut at 10:00 Eastern Time, can be found below. – EUR/USD: EUR amounts 1.1700 587m1.1780 1.0bn1.1790 517m1.1800 740m1.1890 789m – GBP/USD: GBP amounts         1.2960 201m1.3090 262m – USD/JPY: USD amounts          105.00 923m105.80 780m105.85 1.1bn106.00 1.9bn106.50 660m106.75 557m107.00 650m107.05 560m107.11 1.2bn – NZD/USD: NZD amounts 0.6600 …

Oil futures rose again on Wednesday to compensate for some of the losses of the previous session, but the renewed growth of Covid-19 infections in some countries undermined hopes for a steady recovery of global demand. Brent crude advanced $ 1.01, equivalent to 2.5%, to be settled at $40.79 a …

American Petroleum Institute data on Wednesday showed that US inventories of crude oil and distillates increased last week, while gasoline inventories declined. Crude inventories increased by 3 million barrels over the week ending in the fourth of September to about 504.1 million barrels, while analysts expected a decrease of 1.4 …

Morgan Stanley said in a note on Wednesday that he expects Brent crude prices to rise to $ 50 a barrel by the second half of 2021, supported by a weakening dollar and increasing inflation. “Unprecedented expansion of monetary aggregates has weakened the US dollar and put upward pressure on …

The Chinese government said it would support consumption to contribute to the recovery of the economy, adding, “Consumption has been relatively hit by the need this year and has become the weak link in the economic recovery.” Official data showed that retail sales in China fell 1.1% in July, compared …

Fuel demand in India fell 15.6% in August compared to the same month last year, as data released by the Petroleum Planning and Analysis at the Ministry of Oil showed that total fuel consumption, an indicator of oil demand, reached 14.39 million tons. Gasoline sales were 7.5% lower than a …