News

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Oil prices fell more than 1% on Wednesday, retreating for a third straight day on expectations that U.S. interest rate cuts might be deferred due to sustained inflation, potentially affecting demand in the world’s largest oil user. The market also slipped as U.S. crude oil and gasoline inventories rose last week, according to market sources

Sterling climbed broadly today after data showed that UK disinflation progress was slower than anticipated, with services inflation remaining persistently high. This development dashed hopes for an imminent rate cut by BoE, causing the odds of a rate cut in June to plummet from around 50% to below 20%. Despite this, the notable declines in

We had some data from Japan today: Reuters Tankan, April trade data, March machine orders data. None of it moved the yen too much. We also had comments from Fed officials, Federal Reserve Bank of Cleveland President Loretta Mester and Federal Reserve Bank of Boston President Susan Collins. Both emphasised that rates would be held

Gold prices were steady on Wednesday and hovered above key $2,400 level touched earlier this week, supported by safe-haven buying and the prospect of interest rate cuts from the U.S. Federal Reserve later this year. FUNDAMENTALS * Spot gold held its ground at $2,422.45 per ounce, as of 0106 GMT. Bullion hit a record high

Australian Dollar weakened broadly during Asian session as its recent rally lost momentum. Despite RBA minutes revealing that a rate hike was considered earlier this month, which should have been supportive for the Aussie, this positive sentiment was countered by weak consumer sentiment readings. Additionally, Aussie seemed to be weighed down by a pullback in

Major US stock indices have erased earlier declines in trade in positive territory. The S&P index is probably up 4.78 points or 0.09% at 5312.87. It is above its all-time high closing level of 5308.14. The NASDAQ index which closed at a record level yesterday is currently up 3.01 points or 0.02% at 16797. Anything

Oil prices dropped by more than $1 on Tuesday, extending losses on the potential for lingering U.S. inflation to keep interest rates higher for longer, depressing consumer and industrial demand. Brent crude futures fell by $1.54, or 1.8%, to $82.17 a barrel by 1210 GMT. U.S. West Texas Intermediate crude (WTI) futures for June, which

Canadian Dollar sees a broad decline in early US session due to growing speculation about rate cut by BoC in the near future. April’s headline CPI slowed as expected, despite a significant increase in gasoline prices. Core inflation measures also showed more progress in disinflation than anticipated. While it remains uncertain if this progress will

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold prices inched up on Tuesday, hovering near a record peak hit in the previous session as recent economic data boosted bets that the U.S. Federal Reserve would start cutting interest rates later this year. FUNDAMENTALS * Spot gold was up 0.1% at $2,428.14 per ounce, as of 0110 GMT. Bullion hit a record high

Asian markets kicked off the week on a positive note, buoyed by the record-breaking rally in US markets last week. Despite escalating geopolitical tensions in the Middle East, which have spurred strong rallies in metals, stock investors appear relatively calm. Trading activity today may be muted due to bank holidays in several European countries and

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Oil prices steadied on Monday amid political uncertainty in major producing countries after Iran’s president died in a helicopter crash and Saudi Arabia’s crown prince deferred a trip to Japan on account of his father, the king’s, health. Brent was down 24 cents at $83.74 a barrel by 0958 GMT. The U.S. West Texas Intermediate

Global financial markets are trading with a risk-on sentiment today, starting from the Asian session and continuing through the European and early US sessions. However, gains in stocks have been relatively limited, partly constrained by recovery in benchmark treasury yields, and partly capped by low trading activity. In the currency markets, positions have shifted somewhat

Federal Reserve speakers on Monday include Bostic, Barr, Waller, Jefferson Iranian state media has confirmed no survivors of helicopter crash Saudi Crown Prince postpones his trip to Japan ICYMI – China’s benchmark lending rates were held steady: 1 yr LPR @ 3.45% 5 yr @ 3.95% PBOC sets USD/ CNY central rate at 7.1042 (vs.

Gold prices climbed to a record high on Monday after U.S. economic data last week cemented bets that the Federal Reserve could cut interest rates twice this year. FUNDAMENTALS * Spot gold was up 0.6% at $2,430.19 per ounce, as of 0118 GMT. Bullion hit a record high of 2,440.49 earlier in the session. *

UPCOMING EVENTS: Monday: PBoC LPR, Fed’s Waller. Tuesday: RBA Meeting Minutes, Canada CPI. Wednesday: RBNZ Policy Decision, UK CPI, FOMC Minutes. Thursday: New Zealand Q1 Retail Sales, Australia/Japan/Eurozone/UK/US Flash PMIs, Eurozone Negotiated Q1 Wage Growth, US Jobless Claims. Friday: Japan CPI, UK Retail Sales, Canada Retail Sales, US Durable Goods Orders. Monday The PBoC is