Reuters have the piece from a Citi report on politics / oil. In brief: Trump presidency could be net bearish for oil prices combination of factors including tariffs and oil-friendly policies, and pushing the Organization of the Petroleum Exporting Countries and allies (OPEC+) to release more oil into the market The main bullish risk for
Oil prices eased on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session after draws in U.S. inventories. Brent crude futures for September fell 38 cents, or 0.5%, to $81.33 a barrel by 0129
Dollar rises modestly in early US trading following stronger-than-expected Q2 GDP data. The robust performance overshadowed the mixed durable goods orders data, instilling some optimism in the market. Despite this, overall market reactions remain subdued. US futures point to a flat open, suggesting a degree of stabilization following yesterday’s sharp selloff. Additionally, 10-year yield has
Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at
Shares of Honeywell slid Thursday as strong second-quarter results are being overshadowed by a mixed update to management’s outlook for the remainder of the year. But we’re looking through the weakness on a belief that the industrial conglomerate is heading toward a healthy 2025. Revenue for the three months ended June 30 totaled $9.58 billion,
The Pound Sterling declines against the US Dollar to nearly 1.2880 on upbeat US Q2 flash GDP data. Firm preliminary S&P Global/CIPS PMI for July has improved the UK’s economic outlook. BoE officials hesitate to authenticate market speculation for a rate cut in August. The Pound Sterling (GBP) exhibits a poor performance against its major peers, except
Fundamental Overview The USD has been rallying steadily against the major currencies since last Wednesday on the back of general risk-off sentiment, although it’s unclear what has triggered the move. From the monetary policy perspective, nothing has changed as the market continues to expect at least two rate cuts by the end of the year
The firm argues that the dollar rally during the period of 2021 to 2022 means that there is still scope for a deeper correction to the downside momentum in the greenback moving forward. They don’t expect the dollar to retest the lows seen towards the end of 2020 but says that the currency should move
Gold August futures along with silver September futures contracts opened flat on Thursday as the former opened down by 0.06% or Rs 42 at Rs 68,910 per 10 gram while the latter opened down by 0.19% or Rs 164 at Rs 84,730 per kilogram. The yellow metal has fallen by Rs 4,000/10 gm in this
Risk aversion has firmly gripped the markets, leading to the steepest selloff in US stocks since 2022 overnight. This sharp decline continued into the Asian trading session, with Nikkei plunging nearly 3%. The market rout is further exacerbated by a broad decline in base metals, oil, and even cryptocurrencies, signaling a widespread flight to safety.
The Gucci store on Fifth Avenue is seen on March 20, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images Shares in Gucci-owner Kering fell on Thursday, after the luxury group announced a sharp decline in revenue in the first half of the year and issued a weak forecast
EUR/USD weakens near 1.0835 in Wednesday’s early Asian session. ECB’s Guindos hinted at a possible interest rate cut in September. US S&P Global Manufacturing PMI dropped to 49.5; Services PMI improved to 56 in July. The EUR/USD pair trades in negative territory for the third consecutive day around 1.0835 during the Asian session on Thursday.
NASDAQ bounces off 38.2% and fills a gap The NASDAQ index move down to a low of 17352.93. In a prior post I outlined the area as a target level. The level corresponds with the 38.2% retracement of the move-up from the May low. That level comes in at 17353.82. It also corresponds roughly with
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. Brent crude futures for September rose 46 cents to $81.47 a barrel by 0020 GMT. U.S. West Texas Intermediate crude for September
Yen continues to dominate the forex markets today, with speculation heating up ahead of next week’s BoJ meeting. According to a Reuters report, unnamed sources have confirmed that a rate hike will be debated at the meeting. However, the decision is expected to be a “close call,” described as a “judgment call” on whether to
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, US, on Thursday, May 16, 2024. Alex Kent | Bloomberg | Getty Images Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped — and thus far has been wrong every step of the way. The yield
In this article F Follow your favorite stocksCREATE FREE ACCOUNT The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor is set to report second-quarter earnings after the markets close Wednesday. The Detroit automaker’s results are expected to be relatively healthy, although down