Oil prices edge higher ahead of OPEC+ meeting to discuss supply cuts Oil prices edged up on Tuesday as expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday outweighed concerns about the global economy. Brent crude futures rose 47 cents, or 0.5%, to $89.33 per barrel by…
Here is what you need to know about the important news between October 3rd 2022 and October 7th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Dollar Edges Lower; Sterling Bounces After GDP Surprise The U.S. dollar edged lower in early European trading Friday as sterling and the euro stabilized near one-week highs, helped by intervention by the Bank of England and the expectation of aggressive tightening by the European Central Bank. At 03:05 ET (07:05 GMT), the Dollar Index, which…
Sterling slippery, stocks stalling as BoE boost fades Asian share markets rose on Thursday after Britain’s central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling remained under pressure. The Bank of England said it will buy as much as £5 billion ($5.4 billion)…
Oil Rebound Stalls as Recession Fears Outweigh Supply Crunch A rebound in oil prices appeared to be running out of fuel on Wednesday as fears of slowing short-term demand offset a potential supply shortage stemming from OPEC production cuts and a hurricane in the Gulf of Mexico. Prices remained close to eight-month lows, as rising…
IMF criticises UK policy Bank of England to response The International Monetary Fund openly criticised Britain’s new economic strategy on Tuesday, following another slide in bond markets that forced the Bank of England to promise a “significant” response to stabilise the economy. Pressure piled on new finance minister Kwasi Kwarteng to reassess his policy, which…
Oil prices claw back some losses as focus turns to possible supply cuts Asian currencies tumbled on Thursday, plumbing milestone lows as a Federal Reserve and fears of an escalating Russia-Ukraine conflict pushed traders toward the dollar. The Japanese yen was among the worst performers for the day, losing 0.6% and hitting a 24-year low…
Here is what you need to know about the important news between September 26th, 2022, and September 30th, 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Oil Prices Hover near 8-Mth Low as Recession Fears Dent Outlook Oil prices held near eight-month lows on Monday after falling sharply last week, as markets feared that slowing global economic activity will dent demand for crude. London-traded Brent oil futures rose 0.3% to $85.29 a barrel, while U.S. West Texas Intermediate futures were unchanged…
Oil prices edge down, recession fears back in focus Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell…
Happy Friday, traders! Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market and may continue to into the future for the US Dollar and other key correlated assets.…
The U.S. dollar jumped to a new 20-year high against a basket of currencies on Thursday, extending gains after the Federal Reserve raised interest rates and struck a more hawkish than expected tone in its latest meeting. The dollar index rose as much as 1% to 111.47, its highest level since June 2002, while dollar…
Asia FX Battered as Fed Rate Hikes, Russia Tensions Favour Dollar Asian currencies tumbled on Thursday, plumbing milestone lows as a Federal Reserve and fears of an escalating Russia-Ukraine conflict pushed traders toward the dollar. The Japanese yen was among the worst performers for the day, losing 0.6% and hitting a 24-year low of over…
Dollar Soars as Putin Ramps up Tensions; Fed Meeting Looms The U.S. dollar rose in early European trading Wednesday, climbing near a 20-year high as Russian President Vladimir Putin raised tensions over Ukraine, and traders awaited another substantial Federal Reserve interest rate hike. At 03:00 ET (07:00 GMT), the Dollar Index, which tracks the greenback…
Asia FX Muted, Dollar Steadies Ahead of Fed Meeting Asian currencies moved little on Tuesday, while the U.S. dollar steadied near 20-year highs as focus turned to an upcoming interest rate hike by the Federal Reserve. Regional currencies barely budged more than 0.2% in either direction, with traders wary of making big bets ahead of…
Here is what you need to know about the important news between September 19th, 2022, and September 23rd, 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Chinese Yuan Tumbles after PBoC Rate Cut, Fed Fears Hit Asia FX China’s yuan sank further below key levels on Monday after more monetary easing in the country, while broader Asian currencies tumbled in anticipation of a Federal Reserve meeting later this week. The yuan fell 0.4% to an over two-year low of 7.0080 to…
Oil ticks up, but on track for weekly loss on recession fears Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand. Brent crude futures were up 56 cents, or 0.6%, to $91.40 a barrel…
Happy Friday, traders! Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market and may continue to into the future for the US Dollar and other key correlated assets.…