Gold extends its intraday ascent and climbs to an over one-week high, re-attempting $4,700 on Wednesday. The US Dollar weakens across the board amid optimism over a potential US-Iran peace deal, helping the commodity to build on its recovery … [Continue reading]
ADP Employment Report set to highlight resilient hiring levels, easing labor market concerns
Developments in the Middle East conflict are likely to remain at the forefront this week, but investors will also keep an eye on a string of US labour market figures. One of the most relevant releases for April will be Wednesday’s Employment Change … [Continue reading]
WTI Price Forecast: Seems vulnerable near mid-97.00s; break below 38.2% Fibo. awaited
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some follow-through sellers for the second straight day and drops to a one-week low during the Asian session on Wednesday. The commodity currently trades near mid-$97.00s, … [Continue reading]
Ireland AIB Services PMI declined to 49.7 in April from previous 50.7
Ethereum is holding above $2,300 on Tuesday, up 0.8% on the day and more than 3% over the past week despite persistent bearish signals across key metrics. The onchain supply metric shows that retailers have been strong distributors in the past week, … [Continue reading]
Forex Today: DXY steadies as resilient US data keep FX markets on edge
Here is what you need to know for Wednesday, May 6:The US Dollar Index (DXY) is trading with a neutral tone near the 98.50 area, supported by safe-haven demand and elevated US yields even after upbeat US data. Price action remains choppy amid … [Continue reading]
XRP extends cautious rebound as ETF inflows and sentiment improve
Ripple (XRP) gains momentum, albeit gradually, trading above $1.40 at the time of writing on Tuesday. The remittance token has, along with the broader crypto market, shown resilience amid the conflict in the Middle East, especially with the United … [Continue reading]
USD/JPY hits session highs near 158.00 on rising US-Iran tensions
The US Dollar (USD) keeps crawling higher against the Japanese Yen (JPY) for the third consecutive day on Tuesday. The pair has reached the upper range of the 157.00s, trading at 157.65 at the time of writing, as the escalating tensions in the Strait … [Continue reading]
Singapore Retail Sales (YoY) fell from previous 8.3% to 4.8% in March
Gold clings to modest recovery gains heading into the European session and holds comfortably above the $4,500 mark, or an over one-month low, touched the previous day. The uptick lacks any obvious fundamental catalyst and runs the risk of … [Continue reading]
WTI stays below $102.00 as US Navy moves to restore Hormuz shipping
West Texas Intermediate (WTI) oil price inches lower after registering modest gains in the previous day, trading around $101.80 per barrel during the Asian hours on Tuesday. Crude oil prices fall as fears of immediate supply disruptions ease, with … [Continue reading]
China: Blocking rule reshapes risk calculus – MUFG
MUFG’s Michael Wan flags a significant shift as China formally invokes its 2021 Blocking Statute for the first time, targeting recent US sanctions on five Chinese refineries linked to Iranian Oil. He argues this alters secondary sanctions … [Continue reading]