Oil prices fell on Tuesday, extending losses from the previous session, after economic data from China, the world’s largest crude importer, spurred fresh concerns about a potential global recession that could hit energy demand. Brent crude futures fell 90 cents, or 1%, to $94.20 a barrel by 00:03 GMT. WTI crude futures fell 81 cents,
The major stock indices are closing higher on the day with the Nasdaq leading the way. The major indices are off to a positive start for the week after 4 straight weeks of gains 9 or 11 sectors in the S&P moved higher with Energy (-1.9%) and materials (-0.1%) the only sectors to decline. Crude
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Negative sentiment started earlier in the day following weak economic data from China, and spread particular serious to some commodities like oil and copper. Aussie is currently leading New Zealand and Canadian Dollar down. Yen is trading generally higher, taking Dollar and Swiss Franc up. Meanwhile, Euro and Sterling continue to trade mixed. Technically, the
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images The Federal Reserve’s path to bringing down runaway inflation while keeping the economy from slipping into a major downturn is still open but is getting narrower, according
US Dollar Index steadies around weekly top, prints three-day uptrend. Growth concerns, Fedspeak challenge market sentiment amid a sluggish session. Second-tier US data, risk catalysts to entertain traders ahead of Wednesday’s FOMC Minutes. US Dollar Index (DXY) rises for the third consecutive day while picking bids to 106.58 during Tuesday’s Asian session. In doing so,
Ether (ETH) rejected the $2,000 resistance on Aug. 14, but the solid 82.8% gain since the rising wedge formation started on July 13 certainly seems like a victory for bulls. Undoubtedly, the “ultrasound money” dream gets closer as the network expects the Merge transaction to a proof-of-stake (PoS) consensus network on Sept. 16. Some critics
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London: Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56%, to $94.66 a barrel by 0945 GMT after
As the North American session begins, the JPY and the USD are the strongest of the major currencies and teh NZD and the AUD are the weakest. Risk off sentiment is force as the markets react to CHina slowdown last month. A string of data over the weekend (retail sales, industrial production, house prices) came
Last month 11.1 US Empire manufacturing index vs -31.3 vs. 5.0 estimate new orders -29.6 vs. +6.2 last month prices paid -55.5 vs. -64.3 last month prices received 32.7 vs. 31.3 last month employment 7.4 vs. 18.0 last month shipments -24.1 vs. +25.3 last month unfilled orders -12.7 vs. -5.2 last month delivery time -0.9
Commodity currencies soften mildly in Asian session today, following weaker than expected economic data from China. On the other hand, Yen is leading Dollar and Swiss Franc higher. Euro and Sterling are mixed for now. Overall sentiment is mixed, with notable gains in Nikkei but other Asian indexes are sluggish. Gold is still struggling to
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi oil giant Aramco reported a stunning 90% surge in second quarter net income and record half year results on Sunday, as high oil prices continue to drive historic windfalls for “Big Oil.” Aramco said
Chinese economic slowdown exacerbates the case of slowing oil demand. Market players keep an eye on nuclear discussions between the US and Iran. WTI trades near the August low at $86.99 and with a firmly bearish technical stance. Crude oil prices are in free fall at the beginning of the week, with the barrel of
Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude futures
The USDCAD has to a new session high and in the process is retesting its broken at 100 day moving average near 1.27968. The high price just reached 1.27986, just above the moving average level Recall on Wednesday, the price fell below that moving average and stayed below since that break. However the lows for