Tag Archives: China

The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …

The USD/CAD pair has renewed its fresh high in the year at 1.3052. the pair is attempting to balance above the 1.3000 psychological resistance. USD/CAD also managed to continue its winning streak by positive performance on Tuesday.USD/CAD is likely to further advance amid uncertainty over the release of the US …

The EUR/USD pair loses 0.18% on Tuesday during the US trading session, meanwhile, Fed policymakers seem to set the scene for 50-bps increases as they also eye Wednesday’s CPI data.The Euro continues to be unable to recover above the 1.0600 threshold. The shared currency has remained trapped around 1.0500 for …

A week that saw a continued deterioration in the global growth outlook driven by extended China lockdowns, a stronger dollar and increasingly aggressive rate hike signals from members of the US Fed. The week highlighted how traders positioned themselves ahead of last Wednesday’s FOMC meeting. During the week US ten-year …

The New Zealand dollar has been the worst-performing G10 currency in the past month. However, economists at ING expect NZD/USD to climb back toward 0.70 by early 2023 as the Reserve Bank of New Zealand (RBNZ) is set to deliver 200bp of additional tightening by year-end.Key Quotes“The impact of lockdowns …

Gold prices fell on Friday and appeared to be poised for a third consecutive weekly loss as the dollar and Treasury yields rose after the Federal Reserve’s strong stance, while investors awaited US jobs data due on Friday. Spot gold fell 0.2 percent to $1,873.75 an ounce by 0742 GMT, …

The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …

Gold has extended its losses below solid resistance around $1890. The Gold Index is recording losses during the North American session, retreating from daily highs around $1909.66, amid a risk-off market sentiment.Two central banks expressed worries about China, while the Bank of England foresees a GDP contraction on 2023 for …

Fed Chairman, Jerome Powell, is delivering his comments on the monetary policy outlook at a press conference following the FOMC’s decision to hike the policy rate by 50 basis points in May.Key quotes“Ukraine war, China lockdowns both likely to add to headline inflation.”“Both issues also likely to limit progress on …

Financial markets were in a better mood on Tuesday, with global indexes managing to post gains, resulting in less demand for the safe-haven dollar.Hot inflation, tensions in Europe amid the Russian war on Ukraine and a rising number of coronavirus contagions, not only in China, anticipate a long road ahead …