Triple whammy for oil
Private data showed a surprise draw of 9million barrels last night
Hurricane Sally results in shutdowns in Gulf of Mexico
Risk on sentiment helps
But remember both the IEA and OPEC had gloomy forecasts for future demand. So, sellers likely to step in at higher prices. US
Latest from WPAC on the RBA (in brief):
has been some market speculation that the Board is set to cut the overnight cash rate from 0.25% to 0.1% ... Westpac expects that such an option will remain under consideration but there appears to be no urgency.
it appears that the Reserve Bank will be f
AUD/USD Current Price: 0.7283
Aussie held on to higher ground despite the sour tone of equities.
RBA Meeting Minutes and Australian August employment data in the spotlight.
AUD/USD is neutral-to-bullish but unable to firm up beyond 0.7300.
The AUD/USD pair recovered the ground lost at the beginni
In another busy week for news, let’s take a look back at the headlines that dominated the forex, fintech and crypto worlds in our best of the week segment.
Robinhood Reveals Major Changes to Options Trading Products
As Finance Magnates revealed this week, Robinhood is making multiple cha
While EUR/USD has risen by over 5% so far this year, the exchange rate is still undervalued, according to analysts at Goldman Sachs.
"The pair's longer-run fair value is 1.30, and the single currency is well placed to participate in the broad Dollar weakness," noted Zach Pandl, global co-head of fo
Sterling has dropped sharply on reports, initially by the FT, that the UK government is planning to unpick parts of the withdrawal agreement that was signed with the EU in January, including elements of the special arrangements for Northern Ireland that are legally binding. Cable dove by over 1% to
At 2.00 am ET Monday, Destatis is slated to issue Germany's industrial output data for July. Economists forecast production to grow 4.7 percent on month, slower than the 8.9 percent increase in June.
Ahead of the data, the euro traded mixed against its major counterparts. While the euro rose against
The Malaysia stock market rebounded on Friday, one session after snapping the two-day slide in which it had stumbled almost 35 points or 2.3 percent. The Kuala Lumpur Composite Index remains just above the 1,515-point plateau although it figures to head south again on Monday.
The global forecast con
U.K. stocks rose notably on Wednesday amid bets of domestic stimulus after data showed Britain's economy shrank by a fifth in the last quarter.
The U.K economy contracted for the second straight time in the second quarter amid the coronavirus pandemic although there was some pick up in June after go
Unlike the typical start of a trading week, Monday has kicked off with big market moves. Following six days of steep gains, Gold has finally broken the 2011 record high of $1,921, reaching $1,943. Meanwhile, the Dollar seems to have lost the title “King,” at least for now, as it continues to be drag