USD/CNH bulls cheer a slew of downbeat catalysts surrounding China to refresh the yearly high to 7.3126 during early Tuesday, close to 7.2940 by the press time. In doing so, the offshore Chinese Yuan (CNH) also ignores the US Dollar’s retreat from the monthly high ahead of the US Retail Sales data. However, comments from […]
Geopolitical
Geopolitical
Geopolitical
15
Aug
Aug
China Stats Bureau Spokesperson cites economic recovery, major state-owned banks sell Dollars to defend Yuan
Early Tuesday morning, Reuters cites an anonymous source to state that China’s major state-owned banks were seen selling US Dollars to buy China Yuan (CNY) in the onshore spot foreign exchange (Forex) market. The news came in after the People’s Bank of China (PBoC) surprisingly cut the benchmark rates and fueled the USD/CNY to the […]
14
Aug
Aug
Russian Ruble plunges beyond 100.00 against US Dollar amid multiple headwinds
Russian Ruble prints a fresh 16-month low against the US Dollar due to weak economic outlooks. The USD/RUB pair climbed above the psychological resistance of 100.00 on Monday, extending YTD losses by 38%. The asset remains under pressure as the Russian economy is facing multiple headlines such as sanctions from developed economies, being in a […]
04
Aug
Aug
Oil update: The Russian impact
In February, Russia declared its plan to reduce oil production by 500kb/d in March due to the price caps imposed by the West on Russian oil and oil products. However, implementing this pledge was only partially done during the spring. Therefore, the announcement made by Russia in early July to further decrease oil exports by […]
02
Aug
Aug
OPEC+ unlikely to change its oil output policy on August 4
Citing six OPEC and its allies (OPEC+) sources, Reuters reported on Wednesday, the alliance is expected to make no changes to its current oil output policy when they meet on Friday, August 4. Additional takeaways “The committee would probably not make any changes to existing policy during Friday’s online meeting.” “Rising oil price is a reason […]
05
Jun
Jun
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WTI crude oil surpasses $75 amid OPEC+ and geopolitical events, despite firm USD
WTI crude oil pares intraday gains around $73.20, after the week started with a gap towards the north, as headlines suggesting challenges to the Oil output contrast with the US Dollar’s run-up. Also likely to weigh on the black gold could be the cautious mood ahead of the key China and US data, as well as the […]
10
May
May
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Good Morning Traders
Gold consolidates at the levels above $2,000.
08
May
May
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The Morning Market Wrap
Gold plunged on Friday and realized a textbook range of the breakout below the neckline of a double top pattern. Declines were halted at the 200-hour moving average (purple line) and now precious metal attempts to recover. Source: xStation5
08
May
May
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Oil prices creep higher as recession fears begin to fade
SINGAPORE (Reuters) -Oil prices rose slightly on Monday as traders remained cautious despite receding fears of a recession in the U.S., which drove prices down for three straight weeks for the first time since November. Brent crude futures were up 11 cents, or 0.2%, at $75.41 a barrel at 0252 GMT. U.S. West Texas Intermediate (WTI) […]
05
May
May
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Israel seized Binance crypto accounts to ‘thwart’ Islamic State, document shows
LONDON (Reuters) -Israel has seized around 190 crypto accounts at crypto exchange Binance since 2021, including two it said were linked to Islamic State and dozens of others it said were owned by Palestinian firms connected to the Islamist Hamas group, documents released by the country’s counter-terror authorities show. Israel’s National Bureau for Counter Terror […]