WTI crude has surged to daily high above $83.00 ahead of the weekend for the first time since April. The Saudis’ expected reductions in oil output and the depreciation of the US dollar are mostly to blame for the black gold’s upward trend. Additionally, the daily chart shows that the …

Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …

The Australian dollar has reacted strongly against the US Dollar (USD) on Friday, following Nonfarm Payrolls (NFP) data showing the US added 187K new jobs in July, undershooting estimates of 200K. This data suggests a slowdown in the labor market, which could undermine high inflation and lead to lower interest …

The US dollar experienced renewed selling pressure after the July jobs report, which showed a 187,000 increase in nonfarm payrolls. The US Bureau of Labour Statistics reported that Nonfarm Payrolls in the US rose 187,000 in July, weaker than the market expectation of 200,000. The US Dollar Index recorded 101.807 …

In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …

The USD/CAD pair peaked at 1.3377’s daily high, then consolidated at 1.3355. Further oil production cuts by Saudi prospects lifted crude prices, favouring the Canadian dollar.On Thursday’s session, the USD/CAD reversed as the US counterpart lost traction following weak mid-tier economic data. The pair rose to nearly 1.3380 and then …

Amazon reported its second quarter earnings, lifting the company’s stock up by 7%, despite concerns about its cloud business’s future. Cost cutting in addition to surging online sales contributed remarkedly in the robust Q2 earnings.The company reported a small but vital beat for revenue in its cloud business, Amazon Web …

The Bank of England raised rates to 5.25%, causing a one-month low in the GBP/USD pair. The decision was based on a split vote, with two members expecting a 50-bps rate hike.US Initial Jobless Claims were in line with estimates, and the ISM’s business services activity reading was 52.7, indicating …

The price of gold is consolidating its losses on Thursday, trading around the $1,930 range after dropping to its lowest level in over a month at $1,929.48 per ounce. The price of the precious metal at the time of writing is $1933.55. The decrease was caused by the US dollar’s …

The US Bureau of Labour Statistics will release the awaited Nonfarm Payrolls (NFP) report for July on Friday. The jobless rate remains at 3.6%, indicating that the labor market remains extremely tight.Nonfarm Payrolls are expected to have increased by 200,000 in July, down from the 209,000 jobs that were reported …