Oil prices rose on Tuesday, extending the previous day’s rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar. Brent crude futures climbed 28 cents, or 0.3%, to $81.91 per barrel by 0038 GMT and U.S. West Texas Intermediate crude
Australian Dollar is trading broadly lower today, primarily due to selloff in stocks in Hong Kong and China as markets reopened after holiday. This downward pressure is compounded by the decline in Australian business confidence, which turned negative. ANZ has become the first of the big four banks to push its forecast for RBA next
NZD/USD edges lower near 0.6130 in Tuesday’s early Asian session. Any signs of US inflation data improvement might trigger the Fed to cut rates in the coming months. The RBNZ’s hawkish stance might continue to support the Kiwi in the near term. The NZD/USD pair trades on a softer note around 0.6130 on Tuesday during
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
The Monday After…. The US jobs report on Friday showed non-farm payroll rising much more than expectations at 272K vs 185K estimate. Average yearly earnings were higher as well (+0.4% vs 0.3% estimate). However, the household survey actually showed a decline of around -400K jobs. That helped to increase the unemployment rate of 4% above
Oil prices rose on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates. Goldman Sachs analysts expect Brent to rise to $86 a barrel in third quarter, saying in a report that solid summer
As US session begins, Euro continues to face significant downward pressure, largely influenced by political developments in France. The call for a snap election following the far-right National Rally party’s gains in the EU election has sparked concerns among investors, driving French 10-year yield to its highest level since November. Additionally, the spread between French
Samantha McCloud, 16, left, Victoria Garcia, 16, Jessel Rincon, 16, at college and career fair at Temple City High School on Saturday, Oct. 21, 2023 in Temple City, CA. Irfan Khan | Los Angeles Times | Getty Images After receiving a graduate degree, Julianna Larock was bombarded with news about the powerful labor market and
The US Dollar rallies on all fronts, with antipodes as outliers. Markets are trembling with fear after the EU election result forced Macron to call for snap elections. The US Dollar Index pops above 105.00 and hits a fresh four-week high. The US Dollar (USD) edges higher and extends its rally on Monday following upbeat
Fundamental Overview Gold had a really bad Friday last week as it suffered one of its worst days in several months. The reason for the selloff was due to two strong catalysts. The first one hit in the European session when we got the headline that China halted its reserve buying. This has been the
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 on MCX for August futures contracts fell by Rs 3,400 in the last 20 days and opened at Rs 71,012 per 10 grams while MCX July silver contracts experienced a sharp decline of Rs 6,000 in the same time period to open at Rs 89,474 per kg. Gold dropped 3.7%, its largest decline
In holiday-thinned Asian trading today, Euro’s sharp decline was the focal point. Investors’ reaction to European Parliament election results was overwhelmingly negative. The far-right’s significant gains have sparked concerns, driving the common currency through key support level against both Sterling, and a near term support again Dollar. This technical development suggests further downside risks for
Liu Jie/Xinhua via Getty Images Investors will be looking to May’s nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation. Economists surveyed by Dow Jones expect the Bureau of Labor Statistics to report that the U.S. economy added 190,000 more jobs on the month, which
AUD/USD weakens near 0.6580 in Friday’s early Asian session. The strong US employment data prompted traders to push back the expected timing of Fed rate cuts. The RBA’s hawkish stance might support the Aussie and cap the pair’s downside. The AUD/USD pair remains under some selling pressure around 0.6580 during the early Asian session on
Fundamental Overview The USD has been on the backfoot since the beat in the US ISM Services PMI where the data showed that the last month drop was just a blip and overall we have a resilient economy with lower inflationary pressures. The data continues to reinforce the narrative that the next move is more
French President Emmanuel Macron called a snap election on Sunday. His decision came after Marine Le Pen’s far-right National Rally party polled very strongly in European elections held on Sudnay. Le Pen made the largest gains in European Parliament elections Greens and liberals lost ground Macron has announced that he is dissolving the national assembly
The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve’s impetus to lower interest rates. Nonfarm payrolls expanded by 272,000 for the month, up from 165,000 in April and well ahead of the Dow Jones consensus estimate for 190,000,