WTI Crude Oil reports the largest weekly loss since March 2023. OPEC prepares to increase supply by an additional 411,000 barrels per day in July, easing supply concerns WTI remains supported by the $64.00 psychological level, but easing tensions in the Middle East limit near-term gains. West Texas Intermediate (WTI) Crude Oil has fallen sharply since reaching a high…
Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week. Indicative rates, a little change from late Friday, USD a little softer (the story of the hapless US dollar for 2025 so far! Not a trend you want to be fighting.). EUR/USD 1.1736 USD/JPY 144.40 GBP/USD 1.3717 USD/CHF 0.7986 USD/CAD…
NZD/USD trades around 0.6045 on Friday after hitting an intraday high of 0.6079. The pair remains within a rising wedge formation, typically a bearish setup. NZD/USD hit 0.6089 on June 16, marking its YTD high, but has since lacked bullish follow-through. NZD/USD struggles to extend its recent advance on Friday, hovering near 0.6045 after an intraday high of 0.6079….
May prelim was 60.5 Final April reading was 52.2 Current conditions 64.8 vs 63.7 prelim Expectations 58.1 vs 58.4 prelim One -year inflation 5.0% vs 5.1 prelim Five-year inflation 4.0% vs 4.1% prelim Sentiment has rebounded from the April-May lows but still remains far below the levels from late 2024. The market reaction to the report has been minimal….
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This narrow sea lane in the Gulf region is a route through which a fifth of the world’s oil and liquefied natural gas (LNG) flows, feeding a large part of the global economy. The northern side is controlled by Iran. As of 2023, 20% of the world’s liquefied natural gas and 25% of seaborne oil trade passes through the…
Australia CFTC AUD NC Net Positions: $-72.6K vs previous $-69.4K
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United States CFTC Oil NC Net Positions: 233K vs 231K
US Treasury Secretary Scott Bessent said something interesting on trade on Fox Business today: “If we can ink 10 or 12 of the important 18 — there are another important 20 relationships — then I think we could have trade wrapped up by Labor Day,” Bessent said Labor Day falls on September 1 this year. Now this might be…
