Oil prices fell on Friday as supply concerns eased as European Union countries remained divided over an oil embargo on Russia, while the United States and its allies considered releasing more oil from storage to calm markets. Brent crude futures fell 46 cents, or 0.4 percent, to $118.57 a barrel …
Read More »Market Drivers – US Session – 24 March 25, 2022
The American dollar finished the day mostly lower across the FX board, although it managed to keep advancing versus the Japanese yen, with USD/JPY hitting a fresh multi-year high of 122.40.The EUR/USD pair is still struggling with the 1.1000 threshold, unable to extend gains beyond the level. GBP/USD settled around …
Read More »What Could European Embargo On Russian Energy Economically Mean?
Brussels agrees on more military aid for Ukraine, but no new sanctions. Activists have made a joint call for a European embargo on Russian oil, gas and coal, as thousands prepare for protests against continued hostilities around the world.On the other hand, Germany’s Olaf Scholz warns immediate Russian energy ban …
Read More »Gold extends gains amid talks of further energy sanctions on Russia
Gold extended gains on Thursday as risk sentiment continues to crash over the military crisis in Ukraine, with the US and allies entering discussions on further energy sanctions against Russia. Gold rose 0.9% to $1,963.48 per ounce; near its highest in two weeks. US gold futures jumped 1.3% to $1,963.50 …
Read More »WTI Mixed Amid Supply Concerns
WTI has been choppy on Thursday, swinging between the $112s and upper $116s as traders weigh various themes.Traders continue to fret about Russian supply disruptions due to Western sanctions as US/Iran talks falter. Oil markets have seen volatile trade thus far this Thursday, with traders juggling a multitude of themes. …
Read More »US announces new sanctions on Russia’s Duma, oligarchs and defense sector
According to a US official on Thursday, the US announced new sanctions on Russia’s state Duma as an entity and its 328 members, reported Reuters. The US also announced new sanctions on Russian oligarchs Herman Gref, the head of Sberbank and Gennady Timchenko, as well as the 17 board members …
Read More »Oil prices fall on hopes for Iran nuclear deal, supply concerns persist
On Thursday, oil prices fell in volatile trade as investors assessed the possibility of fresh supplies in markets with tight oil supplies amid hopes of a new nuclear deal with Iran. Brent crude futures fell 58 cents, or 0.48 percent, to $ 121.02 a barrel, and West Texas Intermediate crude …
Read More »Gold moves in a narrow range as markets await developments in the Ukrainian crisis
Gold prices moved in a narrow trading range on Thursday, as caution dominated the markets due to the Russian-Ukrainian conflict and ahead of the release of US inflation data that may provide new indications on the monetary policy situation at the Federal Reserve (the US central bank). Spot gold fell …
Read More »Market Drivers – US Session – 23 March
The dollar featured mixed performance on Wednesday, as investors struggled to make something out of mostly worrisome headlines. Higher crude oil prices amid escalating tensions between Russia and western nations dented the market’s mood.Economic DataThe flash estimate of March Eurozone Consumer Confidence dropped to two year low at -18.7 in …
Read More »USD/CAD Remains Firm Amid Russia – Ukraine’s Concerns
The Canadian dollar remains firm versus the American counterpart, with the USD/CAD down 0.37% in the week.Russia/Ukraine woes and US central bank hawkishness could not stop CAD bulls from extending USD/CAD losses. USD/CAD drop extends to seven straight days amid a risk-off market mood in the equity markets, which has …
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