Market Update

Goldman Sachs revised upward its forecast for global oil demand for this year, but kept its 12-month Brent crude price forecast at $93 a barrel, as increased inventories offset the support demand received from ebbing pessimism about the growth outlook. Goldman Sachs analysts estimated a jump in global oil demand …

Oil prices hovered near a three-month high on Monday and were on track for their biggest monthly gain in more than a year amid expectations that Saudi Arabia will extend voluntary output cuts into September and global supplies tighten. By 0005 GMT, Brent crude futures fell 9 cents to $84.90 …

More central bank decisions are in the pipeline for the new trading week, with live meetings at the Reserve Bank of Australia and the Bank of England. US data will continue in the spotlight with key employment data, including Nonfarm Payrolls. Canada and New Zealand will also release job market …

Due to strong US economic data, the US Dollar increased throughout the week and was among the best performers. The dollar needs one more set of positive figures in order for the rise to continue. After Thursday’s surge in response to the release of US GDP statistics, the DXY recorded …

The GBP/USD exchange rate fell to its lowest point since July 6 on Friday, and investors are still worried that the Federal Reserve will be attacked by hawks in the wake of the US’s release of stronger-than-expected second-quarter GDP figures.On August 3, the Bank of England is expected to raise …

After four days of losses, the USD/JPY pair almost reached 150.00. After the BOJ’s Monetary stance Statement reiterated its ultra-loose stance, USD/JPY gave up earlier gains.US Core PCE declined to 4.1% YoY in June, which fueled a drop in US rates. The USD/JPY pair hit a daily low of 138.05. …

There are a number of reasons why the price of oil should be anticipated to rise, including constant official announcements about Saudi supply reductions, US economic growth that has surpassed forecasts, and fewer Americans filing jobless claims despite moderate jobs growth, among others.Although weekly petroleum data from the US government …

On Friday, as markets processed the Bank of Japan’s decision to alter its ultra-loose monetary policy as well as data showing a continuing reduction in annual US inflation, global shares surged and US Treasury yields decreased.The Bank of Japan modified its yield curve control strategy on Friday by offering to …

On Friday, the USD/CAD pair is trading sideways, holding close to its levels from a week ago. The Canadian GDP increased by 0.3% in May, and core consumer inflation in the US is decreasing, according to US data. The price of the pair rose to weekly highs at 1.3248 but …

Interest rate expectations are likely to continue driving the price of the precious metals. US economic data should be a key driver of the gold price as most economists and analysts suggest. At the time of writing, gold is trading up by +0.75 at $1960.38 per ounce.The US economy grew …