WTI Oil is trading at 69.85 and is even expected to drop lower as US supply hits the export market. Oil looks set to sink even further as OPEC+ countries are reluctant to expand current production cuts. Brent Oil trades at $74.56 per barrel at the time of writing.The US …

The US Dollar Index (DXY) could potentially snap its winning streak after the ADP print, as traders believe the ADP still holds above 100,000 despite undershooting estimates. The dollar is rolling over and trading in the red due to underperforming ADP figures, which have triggered risk on equities and seen …

The Bank of Canada (BoC) opted to maintain its key interest rate at 5% on Wednesday, for the third consecutive decision, as widely expected. According to the BoC the latest data “suggest the economy is no longer in excess demand”. The tone of the statement hints at no rate hikes …

Economists expect the Bank of Canada to hold interest rates unchanged when it announces key policy this week, with some saying they expect the central bank to be done raising rates.The Bank of Canada will announce its decision on interest rates on Wednesday after choosing to keep interest rates at …

On Wednesday morning during the early Asian session, the price of gold (XAU/USD) declines. The yellow metal declines due to the renewed demand for US dollars (USD). The US Dollar Index (DXY), which measures the value of the US dollar relative to a weighted basket of currencies that is used …

The market is heavily heading towards safe havens, and the EUR/USD pair has broken through the 1.0800 handle. The Euro is expected to fall against the US dollar for a fifth day in a row. Even better-than-expected Eurozone economic data was easily ignored by most market players.With the Euro falling …

The AUD/JPY pair retreated below key support levels. If AUD/JPY buyers reclaim 97.00, a rally to 98.00 is on the cards.The AUD/JPY began Wednesday’s Asian session with a negative tone after registering losses of more than 1% on Tuesday. This is courtesy of the Reserve Bank of Australia (RBA), which …

Moody’s has downgraded China’s sovereign credit rating to negative, citing growing growth risks and a property sector crisis in the world’s second-largest economy. The downgrade follows a month-long lower of the US’s triple-A credit rating, indicating a growing likelihood of default over the past year. The AUD/USD pair was up …

Gold’s $100 two-day decline challenges the metal’s reputation as a safe haven in the face of growing dollar appeal. The US Dollar Index rises 0.29% to 103.93, indicating a change in the way the market views the dollar. Following an unexpectedly high ISM Non-Manufacturing PMI of 52.7, the US economy …

US stocks were mixed on Tuesday following the release of fresh jobs data by the US Bureau of Labour Statistics. Tech stocks reversed earlier losses, leading the mid-morning session with the Nasdaq Composite up about 0.6%. The benchmark S&P 500 inched more than 0.1% higher, while the Dow Jones Industrial …