WTI crude has shed more than $30 from its March peak. Now it is sitting at a major technical crossroads, and whether it holds or breaks likely depends on a diplomatic decision more than a chart pattern.
CPI +2.6% vs +2.6% y/y prelim Prior +2.9% HICP +2.7% vs +2.7% y/y prelim Prior +2.9% Core CPI +2.5% y/y Prior +2.3% No changes to the preliminary estimates there as German headline annual inflation is reaffirmed to show a minor drop in May. That being said, core annual inflation is seen nudging up to 2.5% and that is up…
Asian equities advance on Friday as market sentiment improved on lower oil prices after US President Donald Trump indicated that a peace agreement with Iran could be finalized as early as this weekend. This diplomatic pivot comes on the heels of the President delaying planned military strikes, though he had previously warned that the US could target Iran’s energy…
EUR/GBP is testing long term support near 0.8620, where bullish wicks could signal a bounce toward the 0.8670 pivot area.
A near-unanimous expectation of a hold leaves limited scope for a market surprise on Tuesday, with attention shifting to the RBA’s forward guidance and how it characterises Middle East-driven inflation risks. The split over the September outlook, with a notable minority still pricing further hikes, suggests AUD and rates markets remain sensitive to incoming inflation and labour data, particularly…
US forces intercepted and shot down two Iranian one-way attack drones near the Strait of Hormuz after Iran attempted to target commercial vessels transiting the waterway, Fox News reported on Friday. Iranian state media said that explosion sounds in Sirik are linked to a clash with a vessel breaching the Strait of Hormuz, adding that the vessel was an…
Trump canceled Iran strikes and signaled a deal was near, driving a reversal that sent equities surging, oil down nearly 6%, and the dollar broadly lower.
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band…
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AUD/USD bounces from recent lows as Stochastic turns up from oversold territory. Will buyers confirm a move toward resistance?
