January 23, 2024
Via: DailyFXAfter falling to multi-week lows last Wednesday, gold has recovered some ground in recent days; however, the rebound appears to be losing momentum, with prices approaching trendline resistance at $2,040. To gauge the future direction, it’s vital to see how […]
January 17, 2024
Via: DailyFXCrude oil prices fell by more than a dollar per barrel on Wednesday as China’s growth data disappointed, raising more worries about end-demand for energy. The world’s number two economy expanded by an annualized 5.2% in the final quarter of […]
January 11, 2024
Via: DailyFXWall Street will be on high alert on Thursday when the U.S. Bureau of Labor Statistics releases its latest consumer price index report, as the data could guide the Federal Reserve’s next moves in terms of monetary policy and, therefore, […]
January 10, 2024
Via: DailyFXThe end of 2023 and the start of 2024 presents an environment that is broadly supportive of gold prices. Interest rates are expected to be cut back aggressively, as such, the US dollar and Treasury bond yields have been in […]
January 5, 2024
Via: Investing.comU.S. oil companies and refiners are likely to face another challenging 12 months in 2024, Bank of America (BofA) analysts wrote in a note on Friday, who expect Brent crude to average $80 per barrel this year. Crude futures lost […]
December 28, 2023
Via: Investing.comCrude futures lost over 10% in 2023 in a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major producers around the world. Brent crude on Friday, the last trading day of the […]
December 28, 2023
Via: DailyFXOil prices failed to maintain its momentum this week with a sharp selloff yesterday continuing through the Asian and European sessions today. US stockpile numbers released yesterday evening from the American Petroleum Institute (API) showed a buildup of 1.837 million […]
December 26, 2023
Via: DailyFXThe U.S. dollar, as measured by the DXY index, retreated on Tuesday and flirted with its lowest levels since late July near 101.55 in a trading session characterized by thin liquidity, with many financial centers still closed for the Christmas […]
December 20, 2023
Via: Investing.comOil prices fell on Thursday, as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions and geopolitical tensions in the Middle East. Brent crude futures fell 65 cents, or 0.8%, to $79.05 […]
December 15, 2023
Via: DailyFXGold prices (XAU/USD) gained ground on Thursday, rising for the second consecutive trading session after the Federal Reserve embraced a dovish posture at the conclusion of its December monetary policy meeting on Wednesday afternoon, an unexpected outcome that triggered a […]
December 14, 2023
Via: Investing.comOil prices settled higher Thursday, buoyed by a Federal Reserve-induced slump in dollar and the International Energy Agency’s brighter outlook for demand next year. By 14:30 ET (19.30 GMT), the U.S. crude futures settled 3% higher at $71.58 a barrel […]
December 13, 2023
Via: DailyFXThe euro found some support during the latter part of the European session after dismal eurozone industrial production data (see economic calendar) missed on both YoY and MoM metrics. Yet another data point that reflects a slowing euro economy. Of […]
December 12, 2023
Via: DailyFXThe U.S. dollar could face increased volatility in the coming days, courtesy of several high-impact releases on the economic calendar, although the most important risk event for financial markets will likely be the FOMC decision, particularly with the November Consumer […]
December 7, 2023
Via: DailyFXGold prices (XAU/USD) moved with limited conviction on Thursday, swinging between small gains and losses as investors avoided taking large directional bets on the asset for fear of getting caught on the wrong side of the trade ahead of key […]
December 7, 2023
Via: DailyFXOil prices struggled in attempts to reclaim the $70 a barrel handle as it faced renewed selling pressure on renewed demand concerns. Having said that WTI was up more than 1% and did trade briefly above the $70 mark. This […]
December 5, 2023
Via: MoneyWeekGold has hit a new all-time high, thanks to a weakening US dollar and expectations that interest rates will be cut next year. The yellow metal reached a record high on 4 December) at the start of Asian trading, touching […]
November 29, 2023
Via: DailyFXWhile USD/JPY has been on a major bullish run since the beginning of the year, it has trended lower in recent days following several unsuccessful attempts at clearing overhead resistance in the 152.00 region. After the latest pullback, which has […]
November 29, 2023
Via: DailyFXOil prices are enjoying a second successive day of gains, up around 1.5% at the time of writing. A lot of the optimism stems from the idea that OPEC+ will announce additional cut at tomorrow’s virtual meeting despite rumors that […]
November 28, 2023
Via: DailyFXEUR/USD is currently testing the 21 November high and continues to trade above the 200-day simple moving average (SMA). The bullish run may face another test in the form of US GDP data (second estimate) later this week after estimates […]
November 10, 2023
Via: DailyFXFederal Reserve Chair Jerome Powell sent risk markets spinning lower, and bond yields higher after he said that the US central bank was not confident that the current monetary policy was restrictive enough to bring inflation down to target (2%). […]