EIA says weekly crude oil stocks in US increased by 13.8 million barrels. US fuel demand declined by 1.6 million barrels last week. Russia says they are not holding talks with Saudi Arabia on oil markets. Crude oil prices came under renewed … [Continue reading]
USD/CHF climbs further beyond mid-0.9600s, back closer to multi-day tops set on Tuesday
USD/CHF regains positive traction on Wednesday amid resurgent USD demand. The up-move seemed unaffected by a fresh wave of the global risk-aversion trade. The buying interest around the greenback picked up pace in the last hour and lifted the USD/CHF … [Continue reading]
EUR Futures: Further consolidation on the cards
According to advanced figures for EUR futures markets from CME Group, open interest resumed the downside and shrunk by nearly 1.6K contracts on Tuesday. On the other hand, volume increased by around 56.5K contracts following two consecutive … [Continue reading]
USD/JPY trading heavy in a risk-off environment, bulls heads to be sliced off
USD/JPY remains better offered and a fade on rallies as COVID-19 uncertainty weighs. USD/JPY holding on to the 107 handle by the skin of its teeth. USD/JPY pushed above 108.60 then rolled over to 107.25 before popping in Tokyo as the US dollar … [Continue reading]
EUR/USD Asia Price Analysis: Euro consolidates last week’s advance, holds above 1.1000 key figure
EUR/USD is consolidating last week’s bull-run near the 1.1000 figure. EUR/USD is having a second down day as the USD is mildly up on quarter-end flows. EUR/USD daily chart EUR/USD is retracing down from last week’s highs as the quote is … [Continue reading]
Colombia National Jobless Rate fell from previous 13% to 12.2% in February
The US dollar has been falling after initially advancing amid the coronavirus crisis. Valeria Bednarik, Joseph Trevisani, and Yohay Elam digest the latest Fed action, data, and disease details, and explain why the greenback has … [Continue reading]
Norway’s Oil Minister: No plans for Norway to cut oil output
Norway has no plans to lower its oil output, Norway’s Oil and Energy Minister Tina Bru told TV2 on Tuesday, per Reuters. "Today's oil price is no threat to output from Norwegian fields," Bru added. "We are still producing profitably." Market reaction … [Continue reading]
Italy’s Patuanelli: Need to prepare for the end of lockdown
While speaking to an Italian daily, the Economic Development Minister Stefano Patuanelli noted that “we need to prepare for the end of lockdown.” He added that the data shows a regression of the virus outbreak. His comments contract the earlier … [Continue reading]
Japan’s Aso: G20 financial leaders to discuss steps on virus Tuesday
Following a cabinet meeting on Tuesday, Japanese Finance Minister Taro Aso told reporters that the Group of 20 Financial leaders will discuss ways on Tuesday to proceed with concrete steps to respond to the coronavirus. G20 finance ministers and … [Continue reading]
US Pres. Trump: Prepared if the virus strikes again in the fall season
During his coronavirus (COVID-19) Task Force Briefings, US President Donald Trump showed readiness to avail more ambulances and respirators at home while also said to have talked to Italian PM Conte. Key quotes We will allocate more ambulances to … [Continue reading]