The very large crude carrier cleared the Gulf of Oman into the Arabian Sea with around 2 million barrels of Iraqi crude bound for China. Most tankers remain stranded in the Persian Gulf following Iran’s effective closure of the Strait of Hormuz in late February. Earlier: The outline of a deal exists signing still days away This article was…
Kevin Warsh was sworn in as the 17th head of the Fed on Friday, the first chair to take the oath at the White House since Alan Greenspan in 1987, a venue choice that says plenty about how close this central bank now sits to the executive branch. The optics got stranger from there. The president used the ceremony…
Prior month 0.7% Retail sales 0.9% vs 0.6% estimate Retail sales ex autos 1.4% vs 0.9% estimate Other details: Retail sales rose 0.9% in March to $72.7 billion. Four of nine subsectors posted gains, led by gasoline stations and fuel vendors. Core Retail Sales: Core retail sales (excluding gasoline stations/fuel vendors and motor vehicle/parts dealers) fell 0.1% in March….
ING economists Min Joo Kang and Lynn Song expect the Bank of Korea to leave policy rates unchanged this week but to adopt a more hawkish tone. They see updated dot plots pointing to one or two rate hikes within six months, alongside upgraded GDP and CPI forecasts. Strong chip production and resilient activity data are expected to support…
If last week proved anything, it’s that headline risk and macro data are no longer separate stories. The dollar finished nearly flat after a week of whipsaws, gold gave back its gains as the war premium drained, oil collapsed on Iran deal optimism, and equities clocked an eighth straight weekly gain — the longest streak since 2023. The defining…
A simple investingLiveQ&A for traders and investors The Federal Reserve is not only important because it changes interest rates. It is also important because it tells markets how it is thinking. That is why the coming summer matters. The key story may not be an immediate rate cut or rate hike. It may be a change in how the…
Gold price edges lower during the day as the Greenback recovers some ground amid doubts that the US and Iran could reach a deal to end the conflict, and traders are pricing in a Federal Reserve (Fed) rate hike by the end of the year. At the time of writing, XAU/USD trades at $4,518, down 0.50%. XAU/USD falls as…
If you trade the Nasdaq 100 through QQQ, futures, or CFDs, here’s a closer look at what drove this week’s move and what could matter most next week. This week should have been bad for tech stocks. It wasn’t. Treasury yields hit multi-year highs this week. The Fed confirmed it’s open to hiking. Oil is still above $100.
The GBPUSD remains trapped in a very narrow trading range today, with the high reaching 1.3438 and the low extending to 1.3414 — a range of just 24 pips. That relatively subdued price action reflects a market that is waiting for the next catalyst to provide direction and momentum. Much of the trading today has taken place between the…
Silver (XAG/USD) remains range-bound on Friday as traders avoid aggressive positioning amid uncertainty surrounding US-Iran negotiations. At the time of writing, the white metal trades near $76.00 and is likely to close the week on a flat note. In the latest developments, Iran’s Foreign Ministry spokesperson said, “We cannot necessarily say that we have reached a point where an…
