WTI edges lower below $63.50 on concerns over oil demand
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.40 during the early European trading hours on Thursday. The WTI declines amid concerns over the US economy and excess supplies.
Forex Today: Eyes on the BoE verdict after Fed’s cautious cut
Here is what you need to know on Thursday, September 18:
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $63.38 per barrel, down from Wednesday’s close at $63.63.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $67.28 after its previous daily close at $67.53.
Japanese Yen sticks to negative bias; looks to BoJ policy update for fresh impetus
The Japanese Yen (JPY) drifts lower for the second straight day on Thursday and retreats further from its highest level since July 7, touched against a broadly firmer US Dollar (USD) the previous day.
All about the Fed
Without a shadow of a doubt, the main attraction of today’s session is the Federal Reserve’s rate decision for the September meeting and albeit money markets almost fully pricing in a 25bps cut, a small minority bets that a jumbo 50bps cut could also be on the table. Even though inflationary pressures remain above the […]
Strength of US consumer gets an update
The highlight for investors during today’s session is the US retail sales update which will showcase how consumer spending trends evolved in the month of August. So far retail spending activity has been robust, albeit a few short-lived hiccups, indicating that despite the Fed’s tightening efforts to constrict inflationary pressures, the US consumer remains resilient […]
Gold Weekly: Fed Rate Decision to Sway Prices
Gold’s price seems to have stabilised since last Wednesday, with fundamental interest of gold traders being fixed on the Fed’s interest rate decision, something that we had noted in last week’s report as well. In this report we also examine whether the negative correlation of gold and the USD is active or not and we […]
Week Ahead Schedule
Since there are scarcity economic news releases during today’s session, apart from President Lagarde’s speech, we decided to outline the most important releases for this week: Tuesday: We kick off the week with Eurozone’s ZEW economic sentiment indicator for September and industrial production rates for July, from Canada we note the latest CPI print and […]
US labour market concerns overshadow rekindled price pressures
Yesterday, markets put aside the modest reignition of inflationary pressures and instead diverted their attention onto the latest weekly initial jobless claims figure, that showcased a surprise rise to levels last observed before in October of 2021. According to the latest CPI print for the month of August, price pressures saw an increase of 0.2% […]
ECB’s Kazaks: There cannot be a pre-determined path for ECB
Speaking in a CNBC News interview on Friday, European Central Bank (ECB) policymaker Martins Kazaks said that “there cannot be a pre-determined path for the ECB.”
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $61.63 per barrel, down from Thursday’s close at $62.02.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $65.68 after its previous daily close at $66.08.
United Kingdom Total Trade Balance: £-5.26B (July) vs previous £-5.015B
United Kingdom Total Trade Balance: £-5.26B (July) vs previous £-5.015B
UK GDP arrives at 0% MoM in July, as expected
The UK economy stalled in July, with the Gross Domestic Product (GDP) arriving at 0% following a 0.4% rebound in June, the latest data published by the Office for National Statistics (ONS) showed on Friday.
Russia could face more sanctions after drone incident in Poland
Technical Analysis of Oil WTI Chart – Crude stays stuck near the $63 per barrel area ahead of OPEC’s monthly report The bears remained in control over the past week despite the flurry of geopolitical incidents and formed a base above the $61.50 (S1) area. At the same time however price action currently remains below […]
Euro parked at 4-year highs ahead of ECB’s decision
In a week’s time, Federal Reserve officials will convene for their September meeting and will most likely lower policy rates for the first time in 2025 by 25bps. Today, ECB policymakers will likewise convene but it is rather unlikely that they will vote to lower rates, but are rather expected to keep them intact for […]
Oracle’s stellar outlook sends stock soaring
Yesterday during the aftermarket hours of the American session, Oracle unveiled its second quarter earnings results and albeit slightly missing its EPS and Revenue targets, its rambunctious forward outlook sent its stock price more than 30% higher. Oracle’s reported total revenue for the quarter was $14.9bn, recording a modest 12% increase on year-on- year basis, […]
What to look out for this week
Since today, Tuesday, is a rather slow week in terms of economic news releases, we thus turn our attention and shed light to onto the events that lie ahead. Tomorrow Wednesday, attention will fall upon the latest CPI print from China in the far east and early in the Asian session, which would highlight whether […]
Gold’s Weekly Update: Fed’s interest rate decision in focus
Gold’s price rallied over the past week with a number of fundamental issues fueling the rise of the precious metal’s price. The market’s expectations for the Fed, the recent release of the August US employment data and wide uncertainty are all subjects that may be affecting gold’s price. The comment is to be complemented by […]
Chinese firms continue to circumvent Trump’s tariffs, sales in other markets soar
China’s exporting mechanism remains robust, albeit its modest slowdown in August, as manufacturers manage to circumvent the harsh tariffs imposed by the Trump administration and find clients across the rest of world. Exports were only up by 4.4% in August, the latest report showed, missing the markets’ 5% expectation and recorded its slowest growth expansion […]
High-stakes NFP print to steer the Fed’s policy decision for September
The anticipation is over and the time has come for the highly anticipated Non-Farm Payrolls data for the month of August, which will be released later on today and could finally, and hopefully, definitively confirm whether the Federal Reserve would decisively embark on its rate cutting campaign. In recent weeks, the focus and importance of […]