As a result of waning worldwide economic activity, as shown by the S&P worldwide PMIs, WTI crude oil declined to $77.68 per barrel, down 0.54%, before improving to $79.01 at the time of writing. While oil stockpiles decline by 6.1 million barrels, US petrol inventories increase by 1.5 million barrels, …

The AUD/USD pair sets a third consecutive day of gains, rising more than 0.60% towards 0.6470. PMIs from August from the US and Australia came in lower than expected.Dovish bets on the Fed are applying pressure on the USD. The AUD/USD gained traction in Wednesday’s session, driven by a weaker …

The first indication of economic activity in August will come from the Global PMIs, which will also include housing data from the US, data on Q2 retail sales from New Zealand, and data on retail sales from Canada. After Monday’s decline, Asian equities have recovered, but caution is still in …

Financial markets are now focused on the beginning of the three-day BRICS meeting in South Africa. To begin the three-day BRICS summit, leaders and senior officials from five of the largest rising economies in the world met in Johannesburg on Tuesday. Brazil, Russia, India, China, and South Africa make up …

Gold price was edging upward during the US trading session, despite the US Dollar’s strength. The rise and challenging XAU/USD price are supported by high US Treasury bond yields and a lack of support for depolarization among the BRICS bloc. Friday’s Jackson Hole Symposium is looked upon as the key …

Before her journey to China the next week, US Commerce Secretary Gina Raimondo met with the Vice Foreign Minister and Chinese Ambassador late on Tuesday and had a “productive discussion.”US Commerce Secretary Raimondo also emphasized the significance for US businesses and workers while describing the meeting’s specifics.The news also states …

The GBP/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes. The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised …

Around 0.8800, the USD/CHF pair displays modest increases. Since early August, the price of the pair has been moving sideways. Thomas Barking of the Fed made some pessimistic remarks that helped the USD.Investors are anticipating Powell’s remarks on Friday and the US August PMIs on Wednesday. On Tuesday, the USD/CHF …

In June 2023, the Eurozone’s current account surplus reached €36 billion, a significant increase from €8 billion. This increase was attributed to surpluses in goods, services, and primary income, with a slight deficit in secondary income.However, the 12-month overview showed a minor deficit of €9 billion, compared to a significant …

Early on Tuesday, the US stock markets were expected to begin higher thanks to expectations that chipmaker Nvidia would increase its gains ahead of its earnings announcement on Wednesday. Following reaching their greatest level in over 16 years, benchmark Treasury yields decreased.Futures for the Dow Jones Industrial Average increased by …