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 […]
Excess supply from OPEC keeps a lid on top of crude prices
Technical Analysis of Oil WTI Chart – Crude retraces its steps to the south after hitting the $66 per barrel ceiling Earlier this week, the bears managed to dismantle the bulls’ charge and keep the commodity below the $66 per barrel level, remaining steadfast, and in control. We maintain our bearish outlook bias for the […]
Swiss economy avoids deflationary rout
Earlier today, the latest CPI update from Switzerland matched economists’ expectations, standing still at the 0.2% level and rather confirmed the market views that SNB policymakers will most likely vote to keep rates unchanged at their upcoming quarterly policy decision in September. The central bank however is expected to face challenges in how they deploy […]
USD/CAD Price Forecast: Likely to find resistance at the 1.3825 area
The US Dollar is trading higher for the fourth consecutive day against the Canadian Dollar.
Forex Today: Gold corrects from record-high, USD awaits key data releases
Here is what you need to know on Thursday, September 4:
AUD/JPY Price Forecast: Tests confluence support zone near 96.50, nine-day EMA
AUD/JPY halts its winning streak that began on August 21, trading around 96.70 during the early European hours on Thursday. The technical analysis of the daily chart shows that the currency cross is positioned within the ascending channel pattern, suggesting a prevailing bullish bias.
Japanese Yen sticks to negative bias against USD; lacks bearish conviction ahead of US data
The Japanese Yen (JPY) remains on the back foot against its American counterpart through the early European session on Thursday amid a combination of negative factors.
Act of defiance; China pumps up its chest towards the West
Worries across the Western hemisphere have been on the rise that China’s Xi is on a mission to redraw a geopolitical map with India’s PM Modi and Russia’s President Putin, alongside other leaders, in an act of defiance, fearing that the world order created by the US will soon be challenged by a fierce coalition, […]
UK’s Gilts climb to 1998-year highs on mounting fiscal concerns
Anxiety took hold of UK markets earlier today, as investors battled with souring growth prospects but also murky revival efforts from the government due to concerns over the country’s fiscal outlook. Driving 30-year gilts higher were concerns of the markets in regards to Chancelor Reeve’s Autumn Budget which entail further tax raises to keep targets […]
Gold’s Weekly Update: Gold’s price on the rise
With the summer holidays over, September sets a number of fundamental issues on the path of gold traders. In today’s report we are to discuss a number of such issues affecting gold’s price but also attach a technical analysis of gold’s daily chart for a more complete picture. We make a start by noting the […]
Safe haven assets attract bids amidst rising rate cut bets
Safe haven assets such as gold and silver attracted renewed interest from investors late last week as a flurry of US economic news releases, dovish Fed talk rhetoric and uncertain tariff developments, nudged money market participants to upwardly revise odds for a 25bps cut in September. Despite a hotter than expected PCE print investors fixated […]