Key Points: WTI crude futures approach $79 per barrel following disruptions in Canada’s oil sands production and a larger-than-expected decline in US crude oil inventories. OPEC+ exceeded production limits by 568,000 barrels per day, however such overproduction aligns with demand …
Key points: China’s proposal to buy unsold homes lifts AUD/USD as the country attempts to support its struggling property market. This move is also positively affecting other major currencies like EUR, NZD, GBP, and CAD against the USD. China is …
Key Points: The Japanese yen (JPY) shows weakness against major currencies in response to risk-on sentiment fueled by potential US rate cuts. Revised March PPI data and strong April figures influence expectations, leading to a 51% likelihood of a Fed …
Key points Nasdaq closed at a record high driven by optimistic remarks from Fed Chair Jerome Powell and declining Treasury yields. Home Depot shares dip after earnings reveal a focus on smaller home projects, reflecting a shift in consumer spending …
Key points: Gold prices saw an increase on Tuesday, rising 0.4% to $2,344.39 per ounce, despite a drop the previous day. Upcoming U.S. inflation data crucial for gauging future Federal Reserve policy decisions and its subsequent influence on gold prices. …
Key Points: The momentum of the USD has been influenced by hawkish monetary policy, with fewer than two rate cuts to be expected in 2024. Recent softening economic data, including employment and manufacturing indicators, hint at a potential reversal in …
Key points Gold faced resistance at $2,375 and subsequently retreated, highlighting a potential retest of support at $2,280. EUR/USD broke past significant moving averages, suggesting a possible continuation of its upward trend. On Monday, gold prices failed to sustain an …
Key points Copper prices hit their highest level since April 2022, reflecting increased investments in base metals. Weak demand persists in China due to high prices impacting consumer sectors, notably in wire rod manufacturing. Copper prices reached their highest point …
Key points: Investors are on high alert for the U.S. inflation report due this Wednesday, expected to influence future rate decisions. The Japanese yen approaches intervention-trigger levels, reviving concerns as it nears a two-week low against the U.S. dollar. The …
Key points: The dollar remains steady as investors anticipate US inflation updates. Speculations about Federal Reserve rate cuts shape market expectation. The dollar is holding its ground against major currencies as market participants await crucial US inflation data, set to …
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