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Oil prices fell on Monday, after posting seven consecutive weeks of gains, supported by tight supplies caused by the OPEC+ group’s production cuts, amid concerns about a slowing economic recovery in China and the impact of a rising dollar. Brent oil futures fell 29 cents, or 0.3 percent, to $86.52 …
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August, 2023
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14 August 2023 10:51 am
Oil is falling due to the rise in the dollar and concerns about demand in China
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14 August 2023 3:28 am
Financial Markets’ Weekly Recap, August 7-11
After a quiet trading week’s beginning on Monday, storms came one after another though Tuesday was ted to be quiet in terms of economic data; the first storm impacted commodities, because in response to data that suggested a potential global economic slowdown, risk appetite deteriorated on Tuesday, and the EUR/USD …
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12 August 2023 3:09 am
Market Drivers – US Session, August 11
The US Dollar Index kept advancing and rallied for a fourth week in a row. It reached its highest point for the week, close to the 103.00 level, since June. The stock markets didn’t shift much as caution predominated. While continuing its seven-week rising trend, crude oil briefly retraced after …
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12 August 2023 2:49 am
USD/JPY jumps after US inflation data
For the sixth day in a row, the USD/JPY pair has been trading in the green near the 145.00 level. Due to stronger-than-expected US PPI data from July and investor expectations for the Bank of Japan (BoJ) to adopt a more dovish attitude, the dollar is appreciating and the Yen …
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11 August 2023 11:04 pm
Gold closes with weekly losses on China’s slowdown-linked fears
Gold price registered losses for the third straight week, with concerns over China’s economic stability continuing to weigh on the precious metal’s price. Gold failed to build on last Friday’s gains and started the week on a bearish note. Gold is trading at $1912.90 per ounce at the time of …
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11 August 2023 10:35 pm
US stocks mixed as investors digest PPI, consumer sentiment data
Wall Street is mixed as investors analyze inflation and consumer sentiment reports for potential clues about the Fed’s interest rate move. The S&P 500 added 0.4% in the early going, but the benchmark index is still on pace for its second losing week in a row. Most Wall Street traders …
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11 August 2023 9:40 pm
USD/CAD loses ground after hot American PPI data
USD/CAD has lost ground due to hot PPI data from the US, which rose to 2.4% YoY in July. Higher oil prices have helped the Canadian dollar trade strong against most rival currencies. The US dollar is trading mildly stronger due to the hot Producer Price Index (PPI) from July …
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11 August 2023 8:38 pm
Could Biden’s recent comments intensify trade war with China?
China’s economic problems, especially its slow growth, have been referred to as a “ticking time bomb” by US Vice President Joe Biden, who misspoke about the growth rate of the nation. The Chinese foreign ministry has not responded to Biden’s comments, but he did not intend to offend China and …
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11 August 2023 7:49 pm
EUR/USD pressured following solid US PPI data
The EUR/USD pair encountered pressures and experienced losses during the US trading session, reaching 1.0975 from a daily high of 1.1000. US Department of Labour report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.The University of …
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11 August 2023 3:11 pm
Dollar is heading for gains for the fourth week
The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …
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11 August 2023 2:02 pm
European shares opened lower as US inflation data failed to calm concerns
European stocks fell in early trading on Friday after a wave of gains on Wall Street that was supported by weak inflation data faded, however better-than-expected earnings put the European STOXX 600 on track for a moderate weekly gain. The Stoxx 600 index of European shares fell 0.5 percent by …
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11 August 2023 1:11 pm
Oil prices are falling as investors evaluate Chinese data and the OPEC demand outlook
Oil prices fell slightly on Friday as investors weighed the upbeat demand outlook from the Organization of the Petroleum Exporting Countries (OPEC) and at the same time mixed economic data from China. Brent crude fell 15 cents to $86.25 a barrel by 0515 GMT, while US West Texas Intermediate crude …
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11 August 2023 12:13 pm
The British economy grows more than expected in Q2
Britain unexpectedly posted some growth in the second quarter, supported by a strong performance in June, official data revealed on Friday, but it remains the only one of the world’s largest economies not to return to pre-COVID-19 levels. The economy expanded by 0.2 percent in the second quarter, compared with …
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