WTI is trading at $73.055 per barrel as US oil stocks rise more than anticipated. Earlier on the day, the American crude touched four month lows at $72.55.Concerns about declining oil demand are fueled by weak US economic indicators, such as an increase in unemployment claims and a decline in …

Gold price surged to a peak of $1,987, up 1.35%, earlier in the North American trading session. The Gold Index (XAU/USD) rose to $1,985, indicating a bullish bias. The US Industrial Production figures were below forecast, and the number of jobless claims reached a three-month high. The precious metal is …

The US Dollar has retreated to the red territory as weekly Jobless Claims contribute to dampen mood for quick recovery of the American currency. Traders are concerned about their future positioning as the US Dollar Index is nearing a break below 104. This suggests that the Fed is not fully …

Little progress was made during the San Francisco meeting between President Joe Biden and Chinese President Xi Jinping, but both leaders made encouraging remarks about addressing climate change and enhancing communication. According to Biden, US support for China’s faltering economy is desirable, but not at the price of US intellectual …

Retail sales slipped in October, falling just a tenth of a percent from its upwardly revised level for the prior month. The PPI data supports the Fed’s tightening cycle, but the US Dollar Index recovered from monthly lows and the 10-year yield increased from 4.42% to 4.52%. Wall Street stocks …

The Japanese yen continues to retreat against the dollar since the beginning of daily trading on Wednesday, driven by the rise in US Treasury bond yields due to the famous correlation between both.The USD/JPY rose to 151.37, compared to the previous daily close of 150.37. The pair fell to its …

The US Dollar Index has recovered to 104.40, its lowest point since September. The US Producer Price Index (PPI) saw a less-than-expected 1.3% YoY increase in October, falling short of the projected 1.9% rise. The Core Producer Price Index (PPI) also fell short of expectations, coming in at 2.4% YoY …

Due to record output levels and a greater-than-anticipated buildup in US crude inventories, WTI crude oil drops to $76.58 per barrel at the time of writing, down 1.92%.There are worries about possible drops in oil demand due to the Eurozone’s poor statistics and Japan’s economic contraction. Oil prices are supported …

The likelihood of a recession is one big question that is being discussed again and again as observers, including former Fed officials still argue that there is still an obvious risk of a recession.Jerome Powell and Co. are seen as walking on a fine line. The extent of fiscal stimulus, …

The EUR/GBP increased by 0.40% to reach 0.8740, erasing weekly losses. Bulls have space to test last week’s high of 0.8775. With the pair clearing its losses on Mondays and Tuesdays, the EUR/GBP trades with significant gains in the 0.8740 region. The following goal is 0.8775, which would be a …