Share: US Dollar Index struggles to extend the previous day’s corrective bounce off three-week low, snaps two-day winning streak. Markets remain nearly sure of witnessing no rate hike from Fed in June but concerns about July stay dicey. Bond market moves, challenges to sentiment prod DXY bears ahead of the key US CPI. Core CPI
The forex markets are relatively mixed with a near empty economic calendar today. Australian Dollar is extending last week’s rally, while Euro and Yen are following as next strongest. On the other hand, Swiss Franc and Sterling are trading as the worst performers. Dollar is currently mixed in the middle, displaying no definitive directional trajectory.
WTI crude oil futures are settling at $67.12. That is down $3.05 or -4.35%.The price low today reached $66.80. The high was at $70.33. Looking at the 4-hour chart below, the low price today extended below the low from May 31 at $67.03. That was the lowest level since May 4 when the price plunged
You may have seen Adam’s question on Monday: Adam was citing GS’ slashing their crude oil price forecast, as posted while you may have been partying on Sunday evening (I’m all for partying on Sunday evening BTW, but don’t forget to check in on us at ForexLive for all the news from the Asian timezone
Oil prices fell on Monday ahead of a U.S. Federal Reserve policy meeting as investors tried to gauge the central bank’s appetite for further interest rate hikes and amid concerns about the prospects for Chinese demand and rising Russian supply. Brent crude futures were down $2.12, or 2.8%, to $72.67 a barrel by 1350 GMT.
Gas prices on a sign at a Shell gas station in San Francisco, California, US, on Tuesday, May 23, 2023. Bloomberg | Bloomberg | Getty Images Inflation data from May will show that the price increases that have been bedeviling consumers for the past two years are slowing down. The question, though, will be whether
In this article ORCL Follow your favorite stocksCREATE FREE ACCOUNT Larry Ellison, Oracle’s chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019. Justin Sullivan | Getty Images Oracle shares climbed as much as 5% in extended trading on Monday after the software vendor announced fiscal fourth-quarter results
Share: EUR/USD rebound extends but gains through low 1.08s needed to extend, economists at Scotiabank report. Investors continue to scoop it up on minor corrections EUR gains from the late May low point have extended a little more as investors continue to scoop it up on minor corrections. Gains perhaps need to extend a bit
The USDCAD spiked higher after the weaker-than-expected jobs report this morning. The price which tested its low from early May at 1.33132 in the late European session (the low reached 1.33157), moved up to a high of 1.33688. That high tested the Asian session high at 1.33705. Sellers leaned ahead of that high, and the
The pair has heavily respected the key trendline support (white line) from the November and early February lows over the past few months. But sellers are looking to make a play now in pushing below that as we get into what will be a blockbuster week for markets. For me, I’m not going to be
Gold prices, which are trading near their key support levels, will hold on to this zone depending upon the state of the US economy and the stance of the US Central Bank at the upcoming Federal Reserve policy meeting. Gold prices have support at $1,970 – $1,990 as the US dollar has softened post the
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Altcoin prices crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total
Share: AUD/USD picks up bids to refresh intraday high but stays sluggish at the highest level in a month. RBA’s hawkish surprise joins dovish Fed bias to propel Aussie pair prices. Australian markets are off due to the King’s Birthday. Concerns about US inflation, Fed moves will be important for near-term directions. AUD/USD renews intraday
The S&P index moved up to a high of 4322.62 today. That high price move between the 61.8% retracement of the move down from the January 2022 high to the low reached in October 2022 at 4311.11, and the swing high going back to August 2022 at 4225.28. The inability to extend above those levels
I posted earlier on this weekend’s crude oil forecast revision from Goldman Sachs here: As further background to this change of call, Goldman Sachs Group Inc.’s Global Head of Commodities Research Jeffrey Currie spoke in a Bloomberg TV interview on Friday, making points that high interest rates, which have pushed up carry costs by circa