Tag Archives: China

Recent rate increases by central banks, headed by the BoE on Thursday, fuel concerns about a decline in oil demand. Despite recent decreases in OPEC+ output and an unexpected drop in US petroleum stocks, WTI declines. In light of worries about an economic downturn, traders are turning their attention to …

Gold price remains pressured after breaking 100-DMA support during three-day downtrend. Risk aversion underpins US Dollar strength and weighs on the Gold Index. Fears of economic slowdown originating from China, higher rates in the West roil sentiment and favuor gold sellers. Fed’s Jerome Powell’s bi-annual Testimony will be crucial to …

Chinese government data showed on Tuesday that oil imports from Russia rose to an unprecedented level in May, as private refineries continued to flock to Russia’s Espoo and Urals crudes at discounted prices amid sanctions imposed on them. According to data from the General Administration of Customs, total oil imports …

As US markets were closed in observance of the Juneteenth Holiday, markets have had a tranquil start to the week with no data. The American Dollar partially recovered from the enormous losses of the previous week, but it is still struggling as Gold stays around $1,950 per troy ounce and …

Data showed that passenger car sales in China rose to 2.05 million units in May, up 26.4% year on year. Specifically, sales of SUVs, MPVs and crossovers in May expanded compared to the same period last year, according to data from the China Association of Automobile Manufacturers. During the period, …

After a volatile week that included many top monetary policy events including the Fed and the ECB meetings, as well as the US CPI data, next week will see interest rate decisions from the Bank of England and the Swiss National Bank. Key Data Market participants’ sentiment is mixed, as …

Oil prices are heading to record a weekly rise on Friday, after incurring losses for two consecutive weeks, amid optimism about the rise in energy demand in China, the largest importer of crude, and the weakness of the dollar. By 0632 GMT, Brent crude futures rose 20 cents, or 0.3 …

US Treasury Secretary Janet Yellen has warned any effort to decouple from China would be “disastrous”, saying national security measures targeted at Beijing were not designed to “stifle” the Chinese economy. Yellen also cautioned against the idea of decoupling with China, stating that such a move would be “a big …

On Thursday, oil prices rose 3% to a one-week high as the US currency weakened and new data showed an increase in refinery operations in China, the world’s largest crude importer. By 1:00 p.m. EDT (1700 GMT), Brent futures were up $2.07, or 2.8%, to $75.27 per barrel and even …

Oil prices stabilized on Thursday after a sharp decline on Wednesday, as the market balanced between a jump in refinery production in China, the world’s largest crude importer, and a weak economic outlook there. Brent crude futures rose only three cents, or 0.04 percent, to $73.23 a barrel by 0903 …