Crude oil scored a weak session yesterday. OIL.WTI quotes are on track to test support at the round $70 level. Source: xStation5
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Latest News
Latest News
03
May
May
Dollar in defensive mood
SINGAPORE (Reuters) – The dollar eased on Wednesday, with investors expecting a hike in U.S. interest rates later in the day, but unsure how long the Federal Reserve will keep policy tight considering the latest gloomy jobs data and U.S. debt ceiling and banking sector risks. U.S. job openings fell for a third straight month […]
03
May
May
Asia FX creeps higher, dollar dips ahead of Fed rate hike
Most Asian currencies crept higher from recent losses on Wednesday, while the dollar relinquished some gains as markets hunkered down before a widely expected interest rate hike by the Federal Reserve later in the day. Market holidays in China and Japan kept regional trading volumes slim. Still, the Japanese yen rose 0.4%, recovering from a near two-month […]
02
May
May
The key event during the Asian session was the surprising decision by the Reserve Bank of Australia. The RBA decided to raise the Official Cash Rate (OCR) by 25 basis points to 3.85%. It was widely expected that the RBA will maintain the rate at an unchained level at 3.60%. Bankers justified their decision with […]
02
May
May
The Day Ahead
Today’s economic calendar remains relatively light compared to significant events later this week. Starting from 8:00 BST, PMI indicators for the major economies in the European Union will start to be published. Later in the day, data on Durable Goods Orders from the US will be released, indicating the current condition of the US manufacturing […]
01
May
May
Chart of The Today
EURUSD saw a fairly dramatic reversal late in 2022 when it turned out that the energy crisis in Europe was softer than feared. The pair was trading close to 0.95 at the end of September but has rallied all the way to 1.10 since then. Could it be primed for a larger correction? When looking […]
01
May
May
ISM Headlines The Start of A Busy Week
Monday morning is very calm on the markets as most of the markets in Europe and a some in Asia are closed. The futures for US indices do trade but there’s hardly any action there and FX moves are contained. However, all this could change dramatically as the week unfolds. We will get plenty of […]
01
May
May
North Korea blasts U.S.-South Korea summit deal for escalating tension
SEOUL (Reuters) – North Korea criticized a recent U.S-South Korea agreement to bolster the deployment of American strategic assets in the region for escalating tension to the “brink of a nuclear war,” state media KCNA said on Monday. U.S. President Joe Biden and South Korean President Yoon Suk Yeol held a summit last week, during […]
01
May
May
Sony shares tumble on weaker-than-expected annual outlook
TOKYO (Reuters) – Sony (NYSE:SONY) Group Corp’s shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate’s annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and microchip units. For […]
01
May
May
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Energy & precious metals – weekly review and outlook
So, was it just a gap that needed to be filled? Or was it reflective of demand worries ahead of recession winds? Whatever the case, there’s one less uncertainty on the oil market now after last week’s tumble in crude prices that finally filled the gap up open from April 3 forced by OPEC+’s production maneuver. The […]