LONDON: OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the
admin
Dollar continues to trade mildly higher into US session as consolidations extend. Upside momentum in the greenback is very weak so far. But such consolidations could now extend for a further while. Aussie and Loonie are the next firmest. Yen is currently the worst performer, followed by Kiwi and Euro, and Sterling is mixed. Still,
USDCAD is on the brink of a move higher as the US Dollar firms. WTI pressured on Covid cases in China, denting CAD. USDCAD is making tracks on the upside on Monday, partly as oil prices fall and the greenback rallies against a basket of major currencies. The US Dollar is accumulating as investors kept their focus on
The USD fell sharply last week with helped by a weaker than expected CPI data released on Thursday. Last week was also full of FTX news. Both events highlight the need for risk controls as “surprises” can really cause havoc to your trading portfolios. In the weekend forex report I speak to the risk avoidance
US will continue to compete vigorously with China Xi and Biden spoke candidly about a range of issues Biden raised objections to China coercive actions toward Taiwan The US is hoping that they can characterize their relationship as one of competition but China rarely (if ever) uses the same language. Here’s the former Chinese mouthpiece
Everyone would like to trade Forex if they could get consistent profit. But the problem is, when you are working to learn to trade Forex, when to buy and when to sell? Sounds like a simple and straightforward subject right? When should you enter a trade and for what reason? Even more mysterious is when
Learn Fundamental Breakout Strategies, get Funded: https://toptrader.io/becoming Our FREE currency index: 📈 https://www.toptrader.io/tools/index-lm 📈 Favorite high leverage broker(click to receive 10% trade credit!!👇🏽): https://blueberrymarkets.com/lp/kleveland-forex/? Favorite US Broker: https://oanda.com 📉My most Underrated Videos……..📈 Easiest Trading Strategy …….►http://bit.ly/Easystrategy (1 million views) Best Forex Broker …►http://bit.ly/bestfxbrokersyt (350k views) How to Trade News …..► http://bit.ly/Tradingfxnews (200k views) Creating an
NEW DELHI: Gold prices were trading flat on Monday, after a strong rise in the previous session, as the dollar and US bond yields edged higher following comments from a top US central banker who warned that the Fed was not softening its fight against inflation. Gold prices posted their biggest weekly gain since March
Dollar recovers mildly in quiet trading in Asia, digesting some of last week’s losses. Yen and Canadian Dollar are following the greenback, while Swiss Franc leads Europeans lower. But overall, major pairs and crosses are bounded inside Friday’s range, suggesting lack of activity. The economic calendar is light today and trading could remain subdued. But
The index manages to leave behind part of the recent strong decline. US yields kicks in the week on the defensive across the curve. FOMC’s L.Brainard is due to speak later in the NA session. The dollar appears somewhat bid at the beginning of the week and briefly revisits the 107.00 neighbourhood when gauged by
RISK Or lack thereof, led to the demise of the FTX currency exchange last week. That story led to sharply lower digital currencies, including a 92% decline in the FTX token FTT. From an economic perspective, the US CPI proved to be the binary release that many thought it would be. The subsequent wave sent
I posted earlier in the session on the new plan coming to support the nearly-dead property sector in China. This is in addition to China’s 20-point plan to deal with COVID in a more targeted way, not the slash-and-burn lockdown imposed across cities of millions when a handful of cases were found. Links here: The
An investigation of possible criminal misconduct over the insolvency of cryptocurrency exchange FTX is underway by financial investigators and the Bahamas securities regulators, according to a statement by the Royal Bahamas Police Force sent to Reuters on Nov 13. The Royal Bahamas Police stated: “In light of the collapse of FTX globally and the provisional
Gold prices inched lower on Friday but were headed for a weekly gain as data pointed at signs of slowing inflation, lifting hopes that the U.S. Federal Reserve would scale back on aggressive rate hikes. FUNDAMENTALS * Spot gold was 0.1% down at $1,751.87 per ounce, as of 0048 GMT. It is up 4.2% for
The USDJPY is set to finish the week with losses of more than 5%. From a daily chart perspective, the USDJPY is neutral-to-downward biased if the major stays below the 100-day EMA. The USDJPY extended its free fall and plummeted another 200 plus pips on Friday, below the 100-day Exponential Moving Average (EMA) at 140.76.
GBPUSD on the weekly chart The GBPUSD has seen the price move up 3.71% this week at current levels, which is the largest week gain going back to March 2020 covid lockdown. Looking at the weekly chart, the pair is trading in a swing area between 1.1759 to 1.1840. The high today has reached 1.17997
She sees further Fed hikes Too soon to call a peak in the rate cycle Risk of over tightening on rates has increased Comments from last Friday from Collins: It’s premature to comment on the ultimate level of rates I don’t believe a big slowdown is needed to achieve price stability Signs inflation surge is
In this article NVAX Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax posted an unexpected loss on Thursday but beat Wall Street’s