Following China’s rate cut and the significant drive for greater lending, which indicate a deteriorating economy, WTI crude declined by 0.95 percent. Pessimism is increased by the significant 31% decline in Saudi Arabia’s oil shipments to China in July.The US rig count is falling, indicating a likely tightening of the …

The USD/JPY pair soared above 146.00, posting daily gains of more than 0.60%. Following the PBoC rate drop, the Yen is slipping. The pair is trading at 146.16 at the time of writing.On Thursday’s session, investors anticipate the annual Jackson Hole Symposium. The USD/JPY is up around 146.20 at the …

The Federal Reserve Bank of New York’s latest the SCE Labor Market Survey revealed that the lowest wage respondents would be willing to accept for a new job jumped to a record high of $78,645 in July, up from $72.873 a year ago.The US Dollar Index showed no immediate reaction …

The Yen and the Swiss Franc were among the top performers due to risk aversion and the retreat in government bond yields. The Japanese Yen finished marginally higher above 145.00, while the Swiss Franc gained for the fifth consecutive week. The Pound was the biggest gainer, supported by UK economic …

What happens in China doesn’t just stay in China. Flooding in northeastern China has caused numerous deaths and severe damage to infrastructure, homes, and crops. President Xi Jinping urges action to reduce damage. At least 90 rivers have risen beyond alert threshold, with 24 already flooded. Local governments must prioritize …

WTI surged more than 1% on Friday and found resistance near $81.30, above the 20-day SMA. US Oil and natural rigs decreased for the sixth week in a row.The USD trading neutral allowed the black gold to gain traction. Chinese financial woes may limit the WTI’s upwards momentum.At the end …

After the market closed on Friday, US equities were mixed, with gains coming from the oil and gas, utilities, and telecoms industries while losses came from the technology, basic materials, and consumer goods industries.The NASDAQ Composite index lost 0.20%, the S&P 500 index lost 0.01%, and the Dow Jones Industrial …

Bitcoin price experienced a significant decline, trading at $26,116, -5.46 down on the day. This decline has led to more crypto positions being liquidated than during the FTX collapse in November 2022.The drop caused $855 million in long positions and $194 million in short positions to be wiped out, resulting …

Argentina’s economy ministry has agreed to freeze domestic crude oil prices at $56 per barrel until the end of October, following an agreement with the industry. The price cap, which comes after meetings between Economy Minister Sergio Massa and executives from oil companies like YPF and Vista, aims to help …

Ukrainian Energy Minister German Galushchenko said that Kyiv will not join in talks with Russia about a renewal of the contract for the transit of Russian gas through Ukrainian territory which is due to expire next year.“We will not be a party at the talks with the Russians for sure, …