October 2, 2023
Via: DailyFXEUR/USD fell sharply on Monday, weighed by broad-based U.S. dollar strength amid soaring U.S. Treasury yields, with the 10-year note pushing above 4.65% and hovering near its highest level since 2007. In this context, the pair sank about 0.5% in […]
September 27, 2023
Via: Investing.comOil prices rose sharply in Asian trade on Thursday, with U.S. crude futures hitting an over one-year high on continued signs of tighter supply, while positive data from China also aided sentiment. The signals helped markets largely look past concerns […]
September 22, 2023
Via: DailyFXGold prices fell about -0.6 percent over the past 24 hours as financial markets continued digesting the aftermath and implications of the Federal Reserve interest rate decision. In response, retail traders have increased bullish exposure in the precious metal. This […]
September 15, 2023
Via: DailyFXGBP has faced selling pressure this week weighed down in part by GDP data, with an increase in total earnings unable to arrest the slide. Now obviously there was some mitigating effects on the recently released data which may blur […]
September 14, 2023
Via: DailyFXGold prices remain under pressure this Thursday after yesterday’s US CPI report showed elevated headline inflation despite a softer core inflation read. This translates through to sustained tight monetary policy by the Federal Reserve. Energy was the primary contributor to […]
September 14, 2023
Via: DailyFXThe Australian dollar held early Asia gains against the US dollar after the Australian economy created more jobs than expected last month. The Australian economy created 64.9k jobs in August, compared with forecasts for a gain of 23k, following job […]
September 11, 2023
Via: DailyFXThe British pound has started the week on the front foot as the US dollar softened but with key US economic data scheduled this week (see economic calendar below), the downside may be temporary. Markets will be focused on US […]
September 8, 2023
Via: DailyFXGold continues to reflect a considerable negative correlation with USD and US treasury bond yields in a week that may pose little challenge to the greenback’s recent gains. A hotter services PMI print alluded to the continuing momentum of the […]
September 7, 2023
Via: DailyFXGold prices (XAU/USD) struggled for direction on Thursday, moving between small gains and losses near the $1,920 level, in a session characterized by limited volatility in the precious metal space amid modest U.S. dollar strength and subdued Treasury yields ahead […]
August 31, 2023
Via: DailyFXCrude oil prices extended higher over the past 24 hours, continuing a near-term winning streak since last week. In response, retail traders have been cautiously increasing downside exposure. This can be seen by taking a look at IG Client Sentiment […]
August 30, 2023
Via: DailyFXThis week’s US job openings data (JOLTs) sent US Treasury yields tumbling lower, giving both gold and silver a boost. The July data showed a sharp contraction in job openings while the prior month’s figure was also revised sharply lower. […]
August 24, 2023
Via: DailyFXGreater than expected US crude drawdowns helped reverse selling in the US session yesterday, extending early gains that followed from lower US treasury yields and a weaker US dollar. Terrible EU and UK PMI data worsened the economic outlook which […]
August 21, 2023
Via: DailyFXGold prices concluded a 4th consecutive week of losses this past Friday. In fact, so far this month, the yellow metal is down about 3.6 percent. That marks the worst performance since February. In response, retail traders have become increasingly […]
August 17, 2023
Via: DailyFXDespite Thursday’s push higher, WTI crude oil prices are on course to drop -3.5 percent this week so far. Not only would that be the worst week since early May, but it would also bring a 7-week winning streak to […]
August 11, 2023
Via: DailyFXYesterday OPEC released its monthly report where it revised global GDP growth for 2023 and 2024 to 2.7% and 2.6%, up 0.1% respectively from last month’s assessment. A better-than-expected GDP growth outlook bodes well for oil bulls as concerns over […]
August 9, 2023
Via: DailyFXCrude oil prices have rallied nearly 24 percent since finding a bottom in June. In fact, the commodity is on course for a 7th consecutive week of gains. If confirmed, this would be the longest winning streak since January 2022. […]
July 24, 2023
Via: ABC NewsBenchmark U.S. crude oil for September delivery rose $1.67 to $78.74 a barrel Monday. Brent crude for September delivery rose $1.67 to $82.74 a barrel. Wholesale gasoline for August delivery rose 9 cents $2.90 a gallon. August heating oil rose […]
July 10, 2023
Via: Investing.comOil prices rose in Asian trade on Tuesday, buoyed by the prospect of supply cuts in the world’s largest crude producers, while expectations of more stimulus measures in major importer China also helped support sentiment. Still, caution over upcoming U.S. […]
June 30, 2023
Via: DailyFXThe recent leg higher in US Treasury yields continues to press down on gold and with rates expected to stay high, or even higher, for longer then the path of least resistance for the precious metal looks lower. Thursday’s robust […]
June 26, 2023
Via: Investing.comOil prices edged higher on Tuesday, spurred by worries about political instability in Russia and possible supply disruptions, as well as U.S. demand hopes ahead of the summer driving season. By 0041 GMT, Brent crude futures had climbed 37 cents […]