While the latest results from Australia and New Zealand appear to be bleak, China and the United Kingdom are offering declining COVID-19 numbers to keep purchasers hopeful. It's worth noting that Japan's political worries over new elections are joining the Sino–US tussles in challenging the bulls. Market mood is further weighed down by talk of the European Central...
The energy benchmark had previously benefited from the Organization of Petroleum Exporting Countries, Russia, and its allies, known as OPEC+, decision on Monday. According to Reuters, the oil cartel reaffirmed a previously agreed accord in which 400,000 barrels per day (BPD) will be added in November. “An OPEC+ source told Reuters soon before Monday's ministerial...
The August trade balance in Australia was 15077 million dollars, compared to a projection of 10650 million dollars and previous readouts of 12117 million dollars. Exports slowed to 4% for the month, while imports fell to-1.0%, compared to +5.0% and +3.0% respectively in the previous month. It's important mentioning that the September ANZ Job Advertisement became...
Due to a supply scarcity, rising gas and coal prices are gradually driving utilities to convert from gas and coal to fuel oil. Oil-fired power stations have started up in Sweden. Oil demand will be boosted further by the United States' announcement that the travel ban for fully immunized international visitors would be abolished in November. This could result in a...
Investors are nervous as the FOMC holds its two-day policy meeting on Wednesday. Officials from the Federal Reserve are expected to mark a start to reducing the monthly asset purchase program. Meanwhile, the Swiss government has cut its economic growth prediction for this year by 3.2 percent. According to the State Secretariat for Economic Affairs (SECO), a weaker...
On the first day of a new trading week, the pair was faced with new supply, and it has now given up a significant portion of its Friday gains. The riskoff trend in the markets, which tends to boost the safe-haven Japanese yen, fueled the first day of a negative move in the previous three. The fastspreading Delta variation and a global economic recession continue...
Is there a limit to how low cable can go? Fear is driving the dollar higher, as the GBP/USD has touched a four-week low and is on track to do so for a third day in a row. The trend may come to an end— or at the very least, experience a reversal. Sterling will also be subject to a rate determination.
On Thursday, the Bank of England is expected to keep its...
The loonie-dollar pair had risen to its highest level in a month the day before, as the US dollar's safe-haven demand was bolstered by a broad risk-off mindset. Concerns about the upcoming federal elections in Canada, as well as low prices for Ontario's principal export, oil, ran parallel.
It should be mentioned that rumors that a senior US Senator, Joe Manchin,...
After trading as low as1.1699, a new September low, the EUR/USD pair ends Monday with minor losses around the 1.1720 price range. In a risk-averse atmosphere, market participants raced into the greenback, concerned about a likely slowdown in China's economic growth, which could hinder progress in other major economies. The macroeconomic calendar has nothing...
