Market Update

Oil prices fell in early trading on Friday, February 10, but are heading towards recording political gains, as the market continues to oscillate between fears of a recession in the United States and hopes for a recovery in strong demand for fuel in China, the largest global importer. By 01:17 …

Russian news agencies quoted Deputy Prime Minister Alexander Novak as saying on Friday that there is a possibility that the country’s oil production will decline in 2023, as a result of pressure exerted by the European Union and the ceiling set by the Group of Seven for the price of …

The US dollar fell against most of the other major currencies on Thursday, moving in line with falling Treasury yields, as investors stuck to their views that the Federal Reserve does not need to raise interest rates too much because inflation is starting to get under control. In evening trading, …

The US dollar has been higher with gains ahead of Wall Street’s opening, advancing at the end of the trading day as US indexes plunged ahead of the close though Dow surged earlier on robust earnings including Disney and PepsiCo.The dollar benefited from higher government bond yields but also from …

Based upon the “ongoing very cold crypto-winter,” the Peer-to-peer Bitcoin exchange LocalBitcoins announced it will stop operation beginning Thursday. LocalBitcoins, is looked upon as one of the earliest and most popular Bitcoin exchanges. The service and business will stop after more than ten years of operation. The platform also said …

The USD/CHF bulls take a breather around 0.9220, after posting the biggest daily jump in one week, as traders await the key US data amid mixed interest rate-linked feelings. The Swiss Franc rallied the previous day amid the market’s rush toward the US dollar amid fears of recession. However, traders …

The US Energy Information Administration’s February short-term energy expectations are indicating a decline of oil pricing over the next two years as well as a 50% drop in natural gas prices. In addition, the production of global liquid fuels is expected to get lower in 2023. Russia and China still …

The gold price retreats on Thursday and is trading at $1867.54 at the time of writing. The positive US economic data earlier on the day triggered the precious metal’s jump to fresh daily high at $1890.21. US Initial Jobless Claims underpinned XAU/USD, though the metal retreated those gainsUnemployment claims rose …

The Ten-year US Treasury yields have declined since the opening of daily trading on Thursday, affected by the decline in interest rate expectations after the emergence of fresh US employment data to denote a direct relationship between interest rate hike expectations and ten-year US Treasury yields. US Treasury yields for …

Trafigura suffers a $577 million loss on nickel shipments in what the company calls a systemic fraud. The commodities trading giant discovered some of the metal cargoes it bought were missing nickel. A full container of nickel, an expensive metal that is typically traded in large volumes, can be worth …