Share: Silver price hits a four-week high at $24.52 but retraces to $24.26. For bullish continuation, XAG/USD must breach $24.49 resistance, opening the path to $25.00 per troy ounce. XAG/USD’s failure to crack $24.49 could lead to further losses, … [Continue reading]
United States Baker Hughes US Oil Rig Count rose from previous 555 to 556
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]
USD/CAD rebounds firmly to near 1.3360 due to downbeat Canadian Employment report
Share: USD/CAD has shown a solid recovery from the crucial support of 1.3320 after weaker-than-anticipated Canada’s job market data. Canada’s Net Change in Employment dropped by 17.3K and the Unemployment Rate jumped to 5.2%. S&P500 futures … [Continue reading]
WTI Price Analysis: Juggles in between bleak global demand and output cuts
Share: Oil consolidates as the upside is restricted due to weak global demand while the downside is being supported by OPEC’s production cuts. The black gold witnessed a nosedive move after a false and misleading report stating that US-Iran nuclear … [Continue reading]
NZD/USD remains below 0.6100 as weak Chinese inflation data dent sentiment
Share: NZD/USD ticks lower on the last day of the week and is pressured by a modest USD strength. Weaker Chinese inflation figures add to economic woes and benefit the safe-haven Greenback. The uncertainty over the Fed’s rate-hike path should cap … [Continue reading]
South Korea Current Account Balance came in at -0.79B, above expectations (-1.38B) in April
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]
GBP/USD surges amidst US labor market data, BoE rate hike bets
Share: GBP/USD skyrockets as US Jobless Claims soar; investors expect Fed pause. US Treasury bond yields pressured, USD Index collapsed by 0.73%. BoE anticipated rate hike cushions GBP amid sparse economic data. GBP/USD rallies above 1.2500 as … [Continue reading]
USD/CAD: Break below 1.33 to set up a test of the 2023 lows around 1.3260 – TDS
Share: The BoC resumed tightening with another 25 bps rate hike in June. Economists at TD Securities analyze USD/CAD outlook after the surprising decision. USD/CAD needs to move lower to reprice the hike The Bank of Canada surprised markets with a … [Continue reading]
Philippines: Inflation deflates further in May – UOB
Share: Senior Economist at UOB Group Julia Goh and Economist Loke Siew Ting comments on the latest release of inflation figures in the Philippines. Key Takeaways The Philippines’ headline inflation eased for a fourth straight month to 6.1% y/y in … [Continue reading]
Asian Stock Market: S&P500 Futures, yields join central bank, growth chatters to tease bears
Share: Asia-Pacific equities grind lower amid fears of higher rates, slower economic recovery. RBI keeps rates unchanged but multiple China state banks cut rates. Aussie trade surplus narrows while Japan’s Annualized GDP growth improves. Mixed mood … [Continue reading]