September 18, 2020 9:15 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior three trading days and hit a two-week high on Friday after a report by Goldman Sachs stated the oil market was in deficit. Additionally supporting prices, a new tropical depression began to develop in the western part of the Gulf of Mexico, […]
Read moreSeptember 18, 2020 7:06 am
NZD/USD extended gains from the previous five trading days and hit a fresh 17 1/2-month high on Friday as a less steep than expected contraction in New Zealand’s Gross Domestic Product in Q2 added to expectations that the Reserve Bank of New Zealand might adopt a wait-and-see approach at its upcoming policy meeting on September […]
Read moreSeptember 17, 2020 9:25 am
Gold retreated from Wednesday’s two-week high and was losing almost 1% on Thursday, after Federal Reserve Chair Jerome Powell’s remarks on economic outlook bolstered US bond yields and lifted the US Dollar to a one-week high against major peers. US economy is now expected to contract 3.7% in 2020, compared to a 6.5% contraction forecast […]
Read moreSeptember 17, 2020 7:14 am
AUD/USD fell from a two-week high on Thursday, while snapping a four-day streak of gains, after Federal Reserve Chair Jerome Powell’s remarks on economic outlook bolstered US bond yields and unleashed a wave of US Dollar buying. The Fed kept the target range for the federal funds rate intact at 0%-0.25% at its policy meeting […]
Read moreSeptember 16, 2020 11:20 am
According to a report by Reuters, citing a J.P. Morgan Chase memo, the Wall Street bank intends to add six new members to its operating committee. This would bring the total number of committee members to 18, including 10 men and 8 women. J.P. Morgan Chase shares closed lower for the fifth time in the […]
Read moreSeptember 16, 2020 9:07 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Wednesday, as part of US offshore oil and gas production was shut down due to Hurricane Sally, while an industry report revealed an unexpected drop in US crude stockpiles. Drillers and refiners shut at least 25% of US offshore […]
Read moreSeptember 16, 2020 7:02 am
NZD/USD extended gains from the previous trading day and remained close to two-week highs during early European session on Wednesday, as market players awaited the outcome from the Federal Reserve’s first policy meeting since it adopted a more accommodative approach to inflation, while New Zealand registered the largest current account surplus on record. Last month […]
Read moreSeptember 15, 2020 12:11 pm
In a Monday blog post, Alphabet Inc’s YouTube announced the launch of Shorts, a new short-form video service that will compete with TikTok and Facebook Inc’s Reels. The new product is to allow users to record short mobile-friendly vertical videos and to add special effects and soundtracks from a music library. Alphabet shares closed lower […]
Read moreSeptember 15, 2020 9:12 am
Spot Gold extended gains from the previous trading day and touched a fresh two-week high on Tuesday, mostly because the US Dollar softened ahead of the Federal Reserve’s two-day policy meeting, starting later today, which may offer further clues over the bank’s new policy framework. A softer dollar makes safe haven Gold less expensive for […]
Read moreSeptember 15, 2020 7:04 am
AUD/USD extended gains from the prior trading day and touched highs not seen in almost two weeks on Tuesday, after the Minutes from Reserve Bank of Australia’s policy meeting in September provided no indication of further cuts in record low interest rates. RBA policy makers reaffirmed that the yield target for Australia’s 3-year government bonds […]
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