Economic Report

Early on Wednesday, oil prices continued to decline from their lowest points since July. West Texas Intermediate, at $77.30 per barrel, saw minimal movement. The global benchmark, Brent crude, increased by 0.1% to $81.69 per barrel. The price of a barrel of Brent crude dropped $2.14, or 2.6%, to $79.47. …

The US dollar is weakening as Jerome Powell, the chairman of the Federal Reserve, gave a speech devoid of any mention of monetary policy or guidance. Traders are beginning to paint a picture of the US and global economies as the earnings season draws to a close. People’s finances are …

As the mood of the market turns more bearish on Tuesday, the Canadian dollar is weakening and losing the gains it made against the US dollar last week. Risk appetite is being negatively impacted by a significant miss for Chinese trade data as well as hawkish remarks made by Federal …

After four consecutive pauses, the Australian central bank (RBA) is anticipated to start tightening again during its Melbourne Cup meeting on Tuesday. Whether Governor Michele Bullock maintains her recent hawkish rhetoric, which suggests more interest rate hikes, will be the main focus of the RBA meeting.According to the way the …

Mohammed Hashad, Director of Research and Development Department at Noor Capital and the member of the US Association of Technical Analysts, commented on the most prominent developments in the markets and the performance of the most important financial assets, in an interview on Dubai TV. He began his comments by …

As the market becomes more optimistic and favours riskier currencies over safe havens like the Yen, the value of the Japanese yen has declined at the beginning of the week. At its most recent meeting, the Bank of Japan sent conflicting signals, stating that it is still easing while also …

Major currencies stabilized on Monday as investors braced for continued dollar losses that began at the end of last week after the Federal Reserve eased its statements indicating monetary tightening. The dollar index fell 0.08 percent to 104.99, and the euro rose 0.08 percent to $1.0738. The dollar index fell …

In a move to maintain a tight supply, the world’s largest oil exporters, Saudi Arabia and Russia, confirmed the extension of voluntary production cuts until the end of the year. Brent crude futures increased by 0.5 percent, reaching $85.30 per barrel, while US West Texas Intermediate crude rose to $81.05 …

After a very busy week, several economic data releases are expected to weigh on the performance of multiple assets and most prominently, the US Dollar Index with the beginning of the new trading week.Oil’s PerformanceWTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was …

The 150K weaker US labour market and nonfarm payrolls data that fell short of the 180K estimates, on Friday, does much to refuel a significant rally in the EUR/USD pair’s performance. With hiring slowing down and unemployment rising, there is growing speculation about Fed rate cuts in H2 2024.Notwithstanding the …