June 29, 2023 12:09 pm
Key points WTI Crude erases earlier losses, but gains seem limited US oil inventories decrease more than expected – EIA Rate hike concerns, weak China data weigh on oil prices Futures on US West Texas Intermediate Crude Oil erased earlier losses and edged higher on Thursday, as investors weighed a larger-than-anticipated drop in US oil […]
Read moreJune 29, 2023 9:26 am
Key points USD/ZAR encounters resistance near last Friday’s two-week high Dollar firm as Fed Chair Powell says two more rate hikes likely ZAR traders await South Africa PPI data The South African Rand was a notch weaker against the US Dollar on Thursday, as market players looked to South African PPI report later in the […]
Read moreJune 29, 2023 7:47 am
Key points NZD/USD trades in proximity to fresh three-week low Fed Chair Powell says two more rate hikes likely this year New Zealand businesses “cautiously optimistic” – ANZ survey New Zealand’s Dollar largely shrugged off an ANZ Bank survey that showed business confidence in New Zealand had improved in June, while reaching its highest level […]
Read moreJune 28, 2023 11:49 am
Key points WTI Crude recoups part of loss in the previous session US oil inventories decrease more than expected – API Data offsets rate hike concerns Futures on US West Texas Intermediate Crude Oil rose on Wednesday on the back of steeper-than-anticipated decrease in US crude stocks, which indicated fuel demand remained strong. The latest […]
Read moreJune 28, 2023 9:43 am
Key points AUD/JPY trades near two-week low Australian CPI data boosts the case for RBA rate pause Japan may intervene in the market to prop up Yen BoJ Governor Kazuo Ueda to speak at ECB Forum in Sintra, Portugal AUD/JPY hovered above a fresh two-week low on Wednesday after a sudden slowdown in Australia’s inflation […]
Read moreJune 28, 2023 7:44 am
Key points EUR/JPY trades at levels last seen in September 2008 USD/JPY near 7-month peak Japan may intervene in the market to prop up Yen Central bank chiefs to speak at ECB Forum in Sintra, Portugal The Japanese Yen traded in proximity to a fresh 15-year trough against the Euro on Wednesday, since Japanese authorities […]
Read moreJune 27, 2023 12:34 pm
Key points WTI Crude retreats more than 1% US oil inventory data in focus – API, EIA Market shrugs off recent geopolitical events Futures on US West Texas Intermediate Crude Oil retreated on Tuesday, as market players looked to incoming US inventory data for clues over fuel demand during the busy summer driving season. The […]
Read moreJune 27, 2023 9:35 am
Key points USD/CAD trades near fresh 41-week low of 1.3117 Loonie traders look to Canadian CPI data for May US data string eyed for clues on future policy tightening Oil price surge additionally supports Canadian Dollar USD/CAD was hovering above a fresh 41-week trough on Tuesday, as market players eyed incoming US and Canadian macro […]
Read moreJune 27, 2023 7:21 am
Key points Rupee gains but upside still limited by well defined resistance area Yuan gains as China’s state-owned banks sell dollars in the offshore spot Forex market Rupee’s low implied volatility benefits options sellers India’s Rupee firmed against the US Dollar on Tuesday, as Asian currencies recovered driven by China’s Yuan on indications China’s central […]
Read moreJune 26, 2023 12:47 pm
Key points Spot Gold rebounds from 14-week trough Geopolitical worries surrounding Russia underpin safe haven demand A drop in USD also supports dollar-priced Gold Speculators increase net long position in COMEX Gold Spot Gold gained for a second straight day on Monday, as geopolitical developments that unfolded in Russia this weekend prompted some market players […]
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