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Commenting on key financial assets, in an interview with Dubai TV, Mohamed Hashad, Chief Strategist at Noor Capital and the member of the American Association of Technical Analysts, highlighted that markets are closely watching the upcoming US presidential election.Financial Assets Most Likely Affected by a Potential Trump Victory Regarding the …
Read More »Does Oil Price Try To Defy Market Fundamentals?
WTI futures were trading at $70.98 per barrel. WTI prices are lower by 3.35% so far this year. In the past 24 hours, Brent futures have increased by 1.95% to trade at $74.11/bbl. Brent prices have dropped by 6.26% so far this year. Although prices for West Texas Intermediate have …
Read More »Canadian dollar has thin trading ahead of BoC decision
The Canadian dollar is experiencing limited momentum as markets flatten out in a quiet North American trading session. The Bank of Canada’s rate decision on Wednesday is expected to have a limited impact on the Canadian dollar. The latest New Housing Price Index figures from Canada are due in the …
Read More »CAD slips back on key US PMI data
The Canadian Dollar has slipped back into its lowest bids in almost three weeks against the US Dollar (USD) as broad-market flows reverse direction and pile back into the Greenback following a bumper reading for the US Purchasing Managers’ Index (PMI) that soundly thumped market expectations.The Bank of Canada is …
Read More »Market Drivers – US Session, October 10
The US dollar suffered on Tuesday as Wall Street concluded with gains. The price of crude oil slightly declined while trading in narrow bands. Prices for commodities fluctuated, holding onto recent gains. The Middle East scenario is still a source of uncertainty.For the first time since August, the EUR/USD price …
Read More »Canada’s dollar sinks on US dollar’s momentum
The Canadian dollar continues to sink against the US dollar due to broad-market risk-off flows. Oil-dependent Canadian dollar is receiving only minor support from crude oil prices, which are seeing a minor rebound after halting a three-day decline. Canada has both Purchasing Manager Index (PMI) and Employment Rate figures due …
Read More »AUD rebounds on oil price, PMI data
The Australian Dollar has rebounded after a depressing finish, possibly due to the surge in crude oil, Australia’s second-largest export. The AUD recovered against its US counterpart on Monday, rising up to a band of major Moving Averages in the 0.6700 zone. The Australian Dollar managed to shrug off downbeat …
Read More »WTI runs out of steam near $72.00 as markets await further key data
The WTI crude oil clings to mild gains around two-week high, up for the third consecutive day. Clear break of six-week-old falling resistance line, weekly bullish channel keep Oil buyers hopeful.Overbought RSI as well as cautious mood prevail across oil markets ahead of key US data. WTI crude oil sellers …
Read More »WTI Crude Retreats Below $90
The US crude oil benchmark dipped early on Thursday to the lowest level in months, falling below $90 a barrel for the first time since Russia invaded Ukraine at the end of February.WTI trades now at $91.9, but at 10:30 a.m. ET on Thursday, the US benchmark WTI Crude had …
Read More »Markets Optimistically Await Wednesday’s Ukraine, Russian Talks
Mykhailo Podoliyak, one of the representatives of Ukraine at Russian-Ukrainian negotiations, has said, ”We’ll continue tomorrow. A very difficult and vicious negotiation process. There are fundamental contradictions. But there is certainly room for compromise. During the break, work in subgroups will be continued”.Russia lobbed more missiles into Kyiv, amid heightened …
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