Share: Strategists at OCBC Bank discuss Brent Crude Oil outlook. Brent Crude Oil to trade in a range-bound manner in the near term We maintain our forecast for Brent Crude Oil prices to average ~$90/bbl this year implying higher Oil prices in the coming months. That said, in the near term, we expect Brent Crude
Month: June 2023
The Fed decided to pause its tightening cycle at 5.00-5.25% as it wants to see more data before delivering another hike. The Fed is trying to reach an optimal level of monetary restraint that would bring inflation back to target without too much damage to the economy. They keep repeating that they are data-dependent and
The UK PMI data here was weaker than estimated and that is reaffirming the sort of risk averse mood we’re seeing so far on the session. Similar to the euro area readings earlier, this just prompts further questions about the resolve of the BOE and it comes just a day after they raised the bank
Bullion traded in the red on Friday on account of a strong dollar index (DXY), which was trading positive above the 102.50 mark against a basket of six top currencies. Both gold and silver futures were in the red in the opening trade on the MCX. The August Gold futures were trading at Rs 58,114
Dollar saw a significant rebound overnight, a rally that carried on into the Asian trading session today. This surge is mainly attributable to short covering, particularly as central bank rate hikes this week failed to drive an extended selloff in the greenback. In fact, Dollar is currently the second strongest performer for the week, closely
Fresh PMI data came in below expectations and pointed to an economic slowdown. Bloomberg | Bloomberg | Getty Images Business activity growth in Europe slowed in June, pointing to a difficult end to the second quarter, according to preliminary data Friday. The euro zone’s flash composite Purchasing Managers’ Index dropped to 50.3 in June from
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Forex trading may seem intimidating at first, but with this beginner’s guide, you can learn the basics and start trading confidently. In this video, we’ll cover everything you need to know about Forex trading, including how the market works, how to read charts, and how to analyze trends. First, we’ll give you an overview of
Are you eager to explore the art of Forex range trading during the summer season? Look no further! In this informative video, we unveil the essential strategies, tips, and techniques you need to become a proficient forex range trader. Whether you’re a beginner seeking to grasp the fundamentals or an experienced trader looking to refine
Share: The NZD/USD reversed its course during the American session, falling from a high of 0.6222 to 0.6180. The US reported mixed mid-tier data. Chair Powell’s hawkish remarks during his second-day testimony before the US Congress boosted US yields. On Thursday, the NZD/USD cleared daily gains, which saw the pair jumping to a daily high
The NZDUSD has seen a number of ups and down in recent trading. That pattern continued in trading today with up-and-down price volatility. The most recent “run” has been to the downside (see hourly chart below), and that move has taken the price back below the 100/200 hour MAs. The 100-hour MA is at 0.61924.
The inflation data for the Tokto area was published around 4 weeks ago, showing still surging prices: Today we’ll get the national level data for that month. The Bank of Japan have been repeating, over and over, that they expect inflation to fall from around September/October this year and hence are holding onto ultra-loose policy.
Gold prices declined by Rs 200 to Rs 59,550 per 10 grams in the national capital on Thursday amid weak global cues, according to HDFC Securities. The precious metal had ended at Rs 59,750 per 10 grams in the previous trade. Silver also tumbled Rs 800 to Rs 71,500 per kilogramme. “Gold prices weakened on
The market witnessed some ups and downs today with BoE and SNB rate decisions stirring the waters. However, these movements failed to usher in a sustainable trend, as both currencies remain shackled within yesterday’s range against most major counterparts. BoE’s larger than expected rate hike sparked initial momentum but the impact quickly faded quickly. The
Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings that topped Wall Street’s expectations, fueled by strong LongHorn Steakhouse sales. The company also announced that former CEO Gene Lee plans to step down as chair of
The Netherlands has welcomed a new equities exchange-traded (ETF) fund that will give investors exposure to a basket of Bitcoin-related company stocks. French investment firm Melanion Capital’s Bitcoin Equities ETF began trading on the Euronext Amsterdam Stock Exchange on June 22, introducing an equities-based approach to investing in the Bitcoin ecosystem. BTC NA is designed
Share: After gaining around 16% this year the Dax has rallied up to the highs from January 2022. However, there are increasing calls that the recent rise in stocks, particularly in the US, looks stretched. This has resulted in some calls from analysts that overblown valuations, concerns over higher rates, and portfolio rebalancing mean stocks
The NZDUSD has seen up-and-down price action today, with the last push to the upside. That move was helped by support holding against the 200-day moving average of 0.6153. There were three separate tests of that moving average in trading today, and each dip found willing buyers against the moving average level. In the last
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