For the month of October, both crude oil and refined products have generally traded sideways. Analysts at Rabobank examine Brent’s prospects. Brent will at some point in Q4 2023 or Q1 2024 reach $100, but not on average. Brent is trading at $85.20 at the time of writing, as WTI …

The US ISM Services PMI fell to 51.8 in October. The US Dollar Index stays deep in red territory below 105.50. Business activity in the US service sector expanded at a softening pace in October, with the ISM Services PMI declining to 51.8 from 53.6 in September.This reading came in …

The US Dollar lost ground on Thursday due to economic data from the US, which showed Initial Jobless Claims rose to the highest level in seven weeks and Continuing Claims reached the highest since April. The US official employment report is expected to show an increase of 180,000 jobs, with …

With iPhone revenue up year over year, Apple reports record earnings quarter, on Thursday, even with just a week or so of iPhone 15 sales factored into the numbers. However, all of the company’s other hardware divisions were down, and overall sales were down for the fourth consecutive quarter. The …

The Dollar Index fell for the day to 106.15, a decrease of 0.50%. In line with the current risk-on trend, US government bond yields are also falling while Wall Street indexes are rising.Market participants are now concentrating on Friday’s Nonfarm Payrolls report for October. Following Wednesday’s decision and Chair Powell’s …

The White House is preparing for President Biden’s APEC summit and meeting with Chinese President Xi Jinping. Biden aims to emphasize economic ties with China’s neighbors and China, signaling that relations don’t have to be defined by conflict. The White House aims to convince other Indo-Pacific countries that the US …

WTI crude oil gained 2.07% on Thursday as the US dollar declined. WTI is trading at $82.23 per barrel at the time of writing. Despite a potential hawkish retreat, investors respond favourably to the Federal Reserve’s decision to maintain interest rates unchanged. The Fed reiterated its commitment to reducing excessive …

Shopify, a Canadian e-commerce company, reported strong Q3 results that beat expectations and provided upbeat guidance for the remainder of the year. The company’s earnings per share were 24 cents adjusted compared to 14 cents expected, and revenue was $1.71 billion compared to $1.67 billion expected. Shopify expects 2023 revenue …

Treasury yields are experiencing a downtrend following the Fed’s decision to continue with a rate pause following its November FOMC meeting. The 10-year yield dropped over 10 basis points, suggesting that market participants are pricing in a Fed likely done with policy hiking. The US yield curve has been well …

Gold price clings to gains prompted by paused monetary policy from the Fed. Weak US private payrolls and factory data have diminished the appeal of the US dollar. The release of the US NFP would guide further action on the precious metal.As of this writing, gold is trading at $1983.50. …