Gold price was down by 0.7% by midday in New York, trading below the highs of the day of $1,727.84 and reaching as low as the psychological $1,700 level. The US dollar derived momentum from Wednesday’s strong in US yields which is putting a barrier up against gold’s recent resurgence.The …

The AUD/USD pair is falling due to weaker risk appetite and the stronger US dollar on the back of soaring Treasury bond yields. Therefore, the pair drops for the second consecutive day as the US dollar snaps five days of losses, as risk aversion accelerates on the speculation that central …

Wednesday pullback of US stocks proved that the previous two day rally was short-lived. The scene is set for further volatility, after a stormy trading day. The S&P 500 tumbled 1.4%, while the Dow Jones Industrial Average slid 340 points, or 1.1%. The technology-heavy Nasdaq Composite led the way down …

US President Joe Biden is disappointed by the OPEC+ group’s ‘shortsighted decision’, the White House said on Wednesday, as reported by Reuters. Following its 33rd Ministerial Meeting, OPEC+ announced that they will adjust downward the overall production by 2 million barrels per day starting November from the August-2022 required production …

The EUR/USD pair fell as speculation on Fed’s intentions regarding interest rate pace has decreased. The EUR/USD is erasing some of Tuesday’s gains as US T-bond yields are seen rising again, while US Services PMI data, even though slowed, is still at expansionary territory. At the time of writing, the …

Bitcoin surged on Tuesday and is seen climbing above $20,000 for the first time in three weeks. The most famous cryptocurrency settled below the milestone threshold by Tuesday early afternoon.At the same time, bitcoin’s returns are tracking increasingly to gold and its 30-day performance now sits a highs not seen …

Markets were generally optimistic for a second consecutive day, leading to a continued dollar selloff after five-day loss streak while other financial assets were not shy to immediately benefit from the softer American dollar.Government bonds kept recovering ground, keeping yields under pressure, which weighed on the US dollar. The EUR/USD …

Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

The White House has denied any ban or curbs on natural gas exports this winter to help alleviate energy woes in European allies. Earlier in 2022, US President Joe Biden committed to deliver 15 billion cubic metres (bcm) of liquefied natural gas to Europe following Russia’s invasion of Ukraine and …

Elon Musk changed course and agreed to buy Twitter for the originally agreed price, according to a filing on Tuesday. Twitter shares positively reacted to the news and surged after it was reported that Musk plans to go through with his acquisition at $54.20 a share.Twitter stock jumped 22% after …