Gold price recovers despite the renewed USD demand on Wednesday. Investors place lower bets on the potential Fed interest rate cuts in 2024. The Fed’s (Fed) Philip Jefferson, Susan Collins, and Lisa Cook are scheduled to speak later on … [Continue reading]
WTI remains on the defensive around $78.00 amid signs of easing supply tightness, stronger US Dollar
WTI prices remained slightly on the defensive near $78.00 on Wednesday. The easing fear of oil supply disruption caps the upside of black gold for the time being. Saudi Arabia has increased oil prices to Asian customers, including … [Continue reading]
United States API Weekly Crude Oil Stock meets forecasts (-1.43M) in May 3
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
Canadian Dollar skittish on Tuesday despite improving Ivey PMI
Canadian Dollar easing but sticking to midrange. Canada Ivey PMI beat expectations in April. CAD markets wait for Friday’s Canadian labor data. The Canadian Dollar (CAD) was broadly softer on Tuesday but stuck close to near-term technical levels as … [Continue reading]
US Dollar trades in the green after Monday’s last-minute turnaround
The US Dollar trades in the green across the board through the European session. Traders are sending Greenback higher on a mixture of geopolitical fears and positive earnings. The US Dollar Index trades back above 105.00 after bulls were able … [Continue reading]
Gold price loses its recovery momentum amid the renewed US Dollar demand
Gold price trades in negative territory on Tuesday amid the renewed USD demand. A downbeat US jobs data for April prompted speculation of potential rate cuts by the Fed in the coming months. Investors will keep an eye on Fed’s … [Continue reading]
RBA expected to stand pat, reopen door to interest-rate hikes as inflation persists
Interest rate in Australia will likely stay unchanged at 4.35%. Reserve Bank of Australia Governor Michele Bullock to keep her options open. Australian Dollar bullish case to be supported by a hawkish RBA. The Reserve Bank of Australia (RBA) … [Continue reading]
$102 Million raised by US crypto-backed Super PACs could prove crucial in securing the crypto industry
Crypto-backed Super PACs have raised over $102 million in view of the upcoming US elections. Crypto companies are moving to aid policies in favor of digital assets. Crypto Super PACs anticipate the November elections in Ohio and Montana. As the US … [Continue reading]
US Dollar declines on quiet Monday
Market interpretation of Powell's words indicates caution due to unpredictability of inflation trajectory. Friday’s Nonfarm Payrolls report showed a slowdown in annual wage inflation, fuelling predictions for imminent Fed rate cuts. NFP report also … [Continue reading]
Pound Sterling rises in holiday-shortened week, BoE policy in focus
The Pound Sterling trades close to 1.2570 against the US Dollar as investors shift focus to the BoE policy decision. The BoE could provide meaningful cues on the timing of rate cuts amid easing price pressures. Slower US job growth and a … [Continue reading]