Oil prices moved little on Friday after logging steep losses this week, and were set to close a fourth consecutive month in negative territory level as fears of slowing economic growth and demand largely offset tightening supply. Markets saw little relief as data showed U.S. economic growth slowed more than expected in the first quarter of 2023, […]
Latest News
Latest News
Latest News
28
Apr
Apr
Commodities Economic News Forex Freight Management Futures Geopolitical Industry News Latest News Middle East Our Blog
Oil set for second weekly drop as recession fears, rates cloud outlook
TOKYO (Reuters) – Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand. Brent crude futures for June were trading at $78.53 a barrel, up 16 […]
28
Apr
Apr
Central Banks Commodities Currencies Economic News Forex Futures Gold index Industry News Latest News
Gold prices dip as strong inflation, labor data fuel Fed fears
Gold prices fell slightly on Friday, extending losses into a third straight session as stronger-than-expected U.S. inflation and labor market data saw fears of more Federal Reserve rate hikes come back into focus. The yellow metal was now set to end the week well below $2,000 after failing to retake the level in recent sessions. […]
28
Apr
Apr
Central Banks Commodities Currencies Earnings Forex Futures Geopolitical index Industry News Latest News Our Blog
The Morning Market Wrap
AUDJPY caught a bid following the BoJ meeting as the Japanese yen slumped. The pair extended the recovery move launched yesterday and climbed above the 50-session moving average. Source: xStation5
28
Apr
Apr
Mastercard Beats Expectations But, Dampened by DOJ Report
Payment card industry giant Mastercard (MA.US) reported Q1 results that beat analysts’ expectations. At the same time, however, news broke of an antitrust investigation by the U.S. Department of Justice (DoJ), which is investigating the debit card program in the U.S. and the company’s relationship with rival payment networks. The company said it will cooperate with the […]
28
Apr
Apr
Central Banks Currencies Economic News Forex Futures Geopolitical Industry News Latest News Our Blog
US dollar edges higher as GDP, jobless claims affirm rate hike bets
NEW YORK (Reuters) – The dollar rose on Thursday as weaker-than-expected U.S. economic growth in the first quarter is viewed as not likely to deter the Federal Reserve from raising interest rates next week. The advance estimate of first-quarter gross domestic product (GDP) showed a 1.1% annualized rate during the period. The economy grew at […]
28
Apr
Apr
China’s small steps on offshore use of yuan are starting to add up
SINGAPORE (Reuters) – China’s yuan currency is slowly but surely being adopted for more international payments, which analysts say could lay foundations for a trade system running parallel to the dominant U.S. dollar. In the past day alone, data showed that more cross-border transactions with China were settled in yuan in March than in dollars for the […]
27
Apr
Apr
US Jobless Claims Below Expectations
Lower data suggest that labour market is still strong, despite recent hike to 245k. US500 rose sligtly but so far withount any significant reaction. At the same time GDP and PCE data were released, which were equally important. US jobless claims came below analysts’s expectations. Jobless Claims: Lower data suggest that labour market is still strong, despite recent […]
27
Apr
Apr
Stock Watch – First Republic Bank
First Republic Bank (FRC.US) returned to the spotlight this week following the release of Q1 earnings report on Monday evening. Release showed a scope of damage done to the bank amid recent US banking turmoil and highlighted that the bank has not yet fend off a risk of collapse. This has triggered an around-50% plunge on […]
27
Apr
Apr
CBRT Leaves Rates Unchanged
Central Bank of the Republic of Turkey announced its latest rate decision today at 12:00 pm BST. Market expected CBRT to hold the main 1-week repo rate unchanged at 8.50% for another month. There was no surprise as rates were left unchanged. Such a decision was widely expected and therefore no major reaction could be […]