The US crude oil benchmark, WTI, rose 0.87% to $73.51, driven by a weaker US Dollar and lower oil output forecasts. The Fed’s cautious interest rate outlook, with Loretta Mester highlighting a data-driven approach, has influenced market sentiment. The US Energy Department’s report lowering oil output and the Fed’s cautious …
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 »Turkish Lira Drops More Than 5% After Russian Invasion of Ukraine
The Turkish lira fell more than 5% on Thursday as investors sought safe havens after Russian forces invaded Ukraine, raising fears of fresh inflation pressures in Turkey and prompting Ankara to call for confidence in the local currency. The lira fell to 14.62 against the dollar, its lowest level since …
Read More »Market Drivers – US Session – 22 Feb. 2022
Relatively short wave of optimism touched financial markets during London trading hours, as Ukrainian President V. Zelenskyy said that he believes there would not be war nor a wider escalation. Economic DataMarkit flash PMIs for the EU, and the US were generally encouraging, indicating economic expansion in February as the …
Read More »USD/TRY Approaches 13.70
The Turkish lira has added to its Friday’s losses and lifts USD/TRY pair to the upper end of the recent range near 13.70 on Monday.The USD/TRY pair flirts with the area of recent highs near 13.70 despite the renewed offered stance in the greenback and amidst the broad-based upbeat mood …
Read More »Geopolitics, Australian Wages Data Impacting AUD/USD
AUD/USD was unable to hold to the north of the 0.7200 level for a third successive trading session, despite solid jobs data earlier in the week keeping calls for RBA monetary tightening this year.At current levels in the 0.7170s, AUD/USD is trading a touch lower on the day, though still …
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