Tag Archives: Oil Prices

EUR/USD is down some 0.45% on the day but the euro is attempting to recover in an accumulation of the latest daily bearish sell-off. The EUR/USD pair is positioning inched higher in the week ending 1 March, despite mounting pressure on European currencies on the back of the Russia-Ukraine conflict. …

The USD/CAD turned to the upside during the American session and printed a fresh daily high at 1.2772. Earlier it bottomed at 1.2683. The pair rose almost a hundred pips as the US dollar gained momentum amid a reversal in commodity prices.Risk aversion continues to dominate the mood across financial …

In a buoyant sign for the US economy, businesses stepped up their hiring last month as Omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation.Employers added a robust 678,000 jobs in February, the largest monthly total since July, the Labor Department reported …

USD/CAD sharply reversed direction higher on Friday after the release of what traders described as a bumper US labour market report boosted the US dollar and amid a distinctly risk-off market tone weighed on the more risk-sensitive Canadian dollar.The pair started the session below 1.2700, but at one point had …

US State Department said on Thursday that there has been significant progress in nuclear talks with Iran and we are close to a possible deal.However, a number of difficult issues remain unresolved and we will not have a deal unless we can resolve the remaining issues quickly. Oil slid 2% …

OPEC+ met on Wednesday and will not to break from its plan to add 400,000 bpd to quotas each month, largely as expected, despite soaring oil prices amid Russia’s invasion of Ukraine.Russia is estimated to have increased its crude oil production by 0.2 percent in February compared to January, but …

Bank of England Monetary Policy Committee Member Silvana Tenreyro said on Wednesday that the latest rise in oil prices will increase inflation and dampen UK economic activity. The high level of companies wage expectations in the BoE’s latest Agents’ survey was a surprise, though we will have to see if …

Officials said that the OPEC + bloc will likely adhere to modest oil production increases when it meets on Wednesday, with Saudi Arabia and the United Arab Emirates, two of the largest members of the Organization of the Petroleum Exporting Countries, complying with the agreement with Russia, despite the expansion …

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as OPEC+, have been unwinding historic production cuts they instated in 2020 after the pandemic caused an unprecedented fall in global demand.Then, former US President Donald Trump intervened to encourage Riyadh and Moscow to end a …

US President Biden will deliver his first State of the Union address Tuesday, within a few hours, as he seeks to contain the impact of the running war in Ukraine, guide the US and its economy through the Covid-19 pandemic, and help buoy Democrats in November’s midterm elections.Biden will juggle …