Brent Crude Oil Drops Below $70 a Barrel for the First Time Since December 2021
Most Read: GBP/USD Rises on Robust Labor Data – Challenges Ahead for the BoE Oil prices fell off sharply today to trade below $70 a barrel for the first time since December 2021. OPEC + did release its monthly oil report earlier in the day but the selloff was not down to the OPEC + […]
Gold (XAU/USD) Approaches All-Time Highs: Could US CPI Trigger a Breakout?
Most Read: Brent Crude – Oil Slides Below $70 a Barrel, First Time Since December 2021 Gold prices inched higher in Asian trade as market participants brace for the US CPI release. The precious metal continues to flirt with the all-time highs (ATH) around 2531/oz. Market participants may be eyeing US CPI as a catalyst […]
Gold Technical Update: Positioning for a Possible Bullish Breakout Ahead of US CPI Release
This is a follow-up analysis of our prior report “Gold Technical: The recent sell-off may have reached a potential bullish reversal level at US$2,353” published on 26 July 2024. Click here for a recap. Since our last publication, the price actions of Gold (XAU/USD) have managed to stage a rebound above the US$2,353 bullish reversal […]
Weekly Market Outlook: Central Banks Take Center Stage
Week in Review: Market Participants Left with More Questions As the week draws to a close, US data remained robust with a marginal uptick in both the core CPI and PPI prints. Data leading into Thursday’s US session seemed to solidify a 25 bps cut from the Federal Reserve, however the idea of a 50 […]
US Stock Futures Dip as Market Awaits Further Signals from the Fed – Investing.com
Investing.com– U.S. stock index futures fell slightly in evening deals on Monday as Wall Street steadied near record highs, with focus squarely on more upcoming signals from the Federal Reserve on interest rates. Wall Street marked a sluggish start to the week, recovering marginally from Friday’s losses, but remaining in sight of record highs hit […]
PBOC Press Conference; S&P Hits New Record; RBA Rate Decision Announced
Buildings in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. Bloomberg | Bloomberg | Getty Images Hong Kong’s Hang Seng index surged over 3% on Tuesday, led by consumer non-cyclical stocks and leading gains in Asia as Beijing announced a slew of policy easing measures in a rare briefing from central […]
China’s Central Bank Unveils Series of Support Initiatives in Response to Intensifying Economic Downturn
Pan Gongsheng, governor of the People’s Bank of China, delivers a speech during the 2024 Lujiazui Forum on June 19, 2024 in Shanghai, China. Vcg | Visual China Group | Getty Images BEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio or RRR, […]
China Considers Stock Stability Fund and Releases $113 Billion from PBOC
(Bloomberg) — China is weighing plans for a stock stabilization fund, and will unleash at least 800 billion yuan ($113 billion) of initial liquidity support for its beleaguered equity market. Mainland and Hong Kong shares jumped. Most Read from Bloomberg The People’s Bank of China will set up a swap facility allowing securities firms, funds […]
Trump Media Stock Plummets to Record Low Right as Trump Gains Ability to Sell His Shares
Shares of former President Donald Trump’s media startup on Monday tumbled more than 10 percent, taking the stock down to its lowest point since the company went public six months ago. The Trump Media & Technology Group stock, which trades under the ticker DJT, closed 10.3 percent lower on Monday, settling at $12.15 a share […]
Challenges Intensify for North Sea Oil and Gas Industry
Trouble Deepens for North Sea Oil and Gas When the Labour Party came into power, it vowed to tax the oil and gas industry more. Warnings this might backfire fell on deaf years. Now, banks are refusing to lend to North Sea operators. It may well end with energy shortages. “To deliver our clean power […]