Market Update

Oil prices rose in early Asian trading on Thursday after the impact of strong fuel demand in the United States outweighed fears that the world’s largest oil producer and consumer might default on its debt. And by 0015 GMT, Brent crude futures rose 26 cents, or 0.34 percent, to $ …

China has reportedly informed the United States that there is little chance of a meeting between the countries’ defense ministers at a security forum in Singapore due to a dispute over sanctions. This news challenges market sentiment and weighs on the risk-barometer pair like AUD/USD which remains pressured around 0.6775 …

European Central Bank’s Governing Council member Mario Centeno said on Wednesday that the policy will remain tight for some more time but noted that rates should start to come down at some point during 2024, as reported by Reuters.“Monetary policy in terms of fixing key rates is at the maximum …

The AUD/USD pair is higher on the day during the American trading session by about 0.2% after traveling from a low of 0.6778 to reach a high of 0.6818 so far. Risk has bounced again in late Wall Street and that has taken the high beta currencies higher. The ongoing …

Following a string of news stories that put pressure on crude prices, WTI is consolidating. Risk-off sentiment and business data cause crude to decline by more than 1%.After the United States reported that inflation in April fell for a tenth consecutive month, WTI crude is down on the day by …

Gold prices edged lower on Wednesday as optimism over the Federal Reserve cutting interest rates faded after the US inflation report. Spot gold was down 0.2% at $2,030.70 per ounce before rebounding to $2,031.48 at the time of writing. US gold futures settled 0.3% lower at $2,037.10. Gold rose as …

Wall Street has identified its own X-date in late May, and if there is no major movement in Congress by then, it is expected that some major market volatility is looming. The US government is running out of money, and if Congress doesn’t act to raise or suspend its self-imposed …

The CPI figure for April mostly matched expectations. The 0.4% increase in both the headline and core CPI indicated a gradual rather than a fast improvement in the inflation environment. An increase in petrol prices in April was partially offset by falling grocery store prices and energy service costs, and …

Sterling soars to fresh highs after US Inflation data The Pound Sterling (GBP) has risen sharply versus the US Dollar (USD) after the release of US Consumer Price Index (CPI) data for April. This data has given the broader long-term GBP/USD uptrend impetus to extend. The Pound Sterling (GBP) rallies …

The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …