Oil prices surged by $3 a barrel on Friday following reports of Israeli missile strikes on a site in Iran, heightening concerns over potential disruptions to oil supplies in the Middle East. Benchmark contracts initially spiked more than $3 before slightly retracing their gains. By 0200 GMT, Brent crude futures …
Read More »XAU/USD boosted on increased central bank purchases
Gold futures continue to rise since the beginning of daily trading on Thursday, driven by increased demand for the precious metal by central banks worldwide. No tangible developments have taken place regarding the current situation in the Middle East since Iran launched attacks on Israel with missiles and drones, and …
Read More »Treasury yields climbs after Fed’s Williams remarks
The slightest suggestion of an interest rate hike by a Federal Reserve official ended the US bond market’s rebound. John Williams, the president of the New York Fed, stated that another rate hike is not his base case on Thursday in answer to a question during a conference in Washington. …
Read More »EUR/USD drops following ECB members’ dovish remarks
The euro’ rebound is unable to rise over 1.0647, down -0.24%, as ECB policymakers hint at a rate cut in June. Strong employment numbers in the US and some hawkish remarks made by Fed’s Williams have given the USD a new lease on life. The EUR/USD exchange rate is still …
Read More »US Dollar is breathing as investors focus on rates
On Thursday, the dollar experienced a decline as traders assessed the trajectory of interest rates in the United States, spurred by statements from Federal Reserve officials reinforcing expectations of an extended period of monetary tightening. Recent weeks saw the dollar strengthening, propelled by a series of robust US economic data …
Read More »Oil rises after the re-imposition of US sanctions on Venezuelan oil
Oil prices rose in early trading on Thursday, slightly paring losses from the previous session, after the United States said it would reimpose oil sanctions on Venezuela at a time when the European Union signaled new sanctions on Iran. By 0053 GMT, Brent crude futures rose ten cents, or 0.11 …
Read More »Market Drivers; US Session, April 16
The Dollar’s recent pause gave the opportunity to risk-related assets for some breather. Because of the dollar’s exhaustion following its recent climb, the US Dollar Index (DXY) witnessed a correction, while the risk-averse galaxy saw some rebound despite ongoing geopolitical concerns and a strong belief in an ECB rate drop …
Read More »US Dollar Retreats Following Fed’s Beige Book, Lower Treasury Yields
The Fed’s Beige Book showed slight economic activity expansion since late February, but Fed Chair Jerome Powell warned that there is little progress on inflation and that the bank remains data-dependent. The possibility of a rate cut in the next meeting in June stands at around 15%, and the chances …
Read More »Oil declines as US inventories rise and global demand concerns
Oil prices fell for the third straight session on Wednesday, amid the potential impact of rising US crude inventories, global demand concerns stemming from weak economic data from China and bleak prospects for an interest rate cut. Brent crude futures for June delivery fell 21 cents, or 0.2 percent, to …
Read More »Oil prices fall slightly as US inventories grow
Oil prices experienced a slight decline in Asian trading on Wednesday, driven by indications of a significant weekly increase in U.S. inventories, signaling less constrained markets. However, concerns persisted regarding Israel’s potential response to an attack by Iran. The recent surge in crude prices over the past two weeks, fueled …
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