The dollar found stability on Monday, with most major Asian markets closed for a holiday, delaying the start of what could evolve into a bustling week. Attention now shifts to US inflation data for clues on the Federal Reserve’s potential interest rate cuts. Euro Edges Lower, Eyes on Euro Zone …
Read More »US dollar squashed after lower than expected revised CPI data
The US Dollar is softer after weaker US CPI revisions, with the Dollar Index failing to close above the 100-day Simple Moving Average (SMA) and could slide back below 104. The S&P 500 briefly hit 5,000 after the opening of the trading session, with some risk on creeping in. The …
Read More »Oil Prices Rise Amid Stable US Production Outlook
Steady US Production Forecasts Boost Oil Market Confidence Oil prices saw a modest uptick on Wednesday, fueled by optimistic projections regarding the stability of US oil production growth over the coming years. This positive outlook has helped alleviate concerns surrounding potential oversupply in the market, providing some relief to investors …
Read More »Oil climbs as traders digest geopolitical developments
Oil prices climbed by nearly a dollar per barrel on Monday, on concerns that Middle Eastern tensions and Russia’s escalating invasion of Ukraine could limit world supplies.Brent crude prices closed at $78.22 per barrel, up 66 cents (0.9%), while US West Texas Intermediate crude futures settled at $72.78 per barrel, …
Read More »Strong Europe Only Way to Stand Trump’s Return – Lagarde
European Central Bank President Christine Lagarde has emphasized the importance of Europe’s strong domestic market and single market to counter potential Trump’s return to the White House. She stated that the best defense against Trump’s return is an attack, which would require a deep, single market. The reelection of US …
Read More »How has gold price reacted to bond market turmoil?
On Monday, the price of gold kept falling as the bond market turbulence persisted. The XAU/USD pair fell to its lowest point since March 14th, 1,880. Its decrease from this year’s peak is greater than 9.3%. At the time of writing, the precious metal is selling for $ 1894.69 per …
Read More »No plans for Ukrainian-Russian talk on gas transit contract
Ukrainian Energy Minister German Galushchenko said that Kyiv will not join in talks with Russia about a renewal of the contract for the transit of Russian gas through Ukrainian territory which is due to expire next year.“We will not be a party at the talks with the Russians for sure, …
Read More »More British citizens believe Brexit was a wrong decision
According to the YouGov institute’s most recent survey of 2,000 Britons, a record number of Britons now believe that Brexit was a mistake.According to the macro update, which was released by Reuters, 57% of respondents believe that the decision to leave the European Union was incorrect, while only 32% support …
Read More »Oil is heading to record weekly gains, and uncertainty about demand limits the rise
Oil prices rose slightly on Friday, with crude contracts heading towards recording weekly gains as recession fears eased, but uncertainty regarding the outlook for demand limited the gains. By 0736 GMT, Brent crude futures rose 23 cents, or 0.2 percent, to $99.83 a barrel. West Texas Intermediate crude futures were …
Read More »Oil steadies after IEA raises demand growth forecast
Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …
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