The Brent oil price experienced a significant drop to a monthly low of USD 83.5 per barrel this week due to weak Chinese data. This volatility in the market was closely followed by a recovery, as noted by Commerzbank’s commodity strategist Carsten Fritsch. Despite the initial fall in prices, the time spreads of the Brent
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The Canadian Dollar (CAD) is facing challenges in the foreign exchange market as it struggles to gain ground against the US Dollar (USD). Despite some minor gains this morning, the CAD remains a relative underperformer compared to the USD. The Mexican Peso (MXN) is also losing ground, adding to the pressure on the CAD. The
The US Dollar Index (DXY) has been experiencing a downward trend in recent days, reaching April lows. This decline can be attributed to the release of soft US Consumer Price Index (CPI) figures and weaker University of Michigan (UoM) sentiment data. Market participants have been interpreting this data as a signal of a potential rate
After Federal Reserve (Fed) Chairman Jerome Powell’s recent statements, the US Dollar managed to regain some lost ground. Powell’s reluctance to immediately embrace rate cuts in favor of a patient approach has led to a rise in the DXY to 105.20. While the US economic outlook shows signs of disinflation, there are expectations for a
The EUR/USD pair has been steadily climbing for the past six days, reaching around 1.0830 during the Asian session on Tuesday. This upward trend comes as a surprise to many, especially after France’s election results. A leftist alliance unexpectedly took the lead, preventing Marine Le Pen’s far-right party from dominating the leadership race. This unexpected
The US Dollar experienced a decline of 0.80% last week, reaching its lowest level since mid-June. The upcoming release of the June inflation figures and Federal Reserve talks have created a sense of anticipation in the market. While there is a price in less than 10% probability of a rate cut in July, the odds
The recent data on labor market indicators presents a concerning picture, signaling a potential weakening in the labor market. This could have significant implications for both wage growth and disposable income. The ANZ-Indeed Job Ads index, which experienced a 2.2% decline in June following a 1.9% drop in May, suggests a slowdown in hiring activity.
Recently, exit polls revealed that Marine Le Pen’s far-right party, the National Rally (RN), emerged victorious in the first round of parliamentary elections in France. This political development had an immediate impact on the financial markets, particularly on the euro’s exchange rate against other currencies. In response to the RN’s win, the EUR/USD rate experienced
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Recently, Japanese Finance Minister Shunichi Suzuki made comments regarding the foreign exchange market, stating that he will take necessary actions to address any issues that may arise. While he refrained from commenting on specific forex levels, he emphasized the importance of FX stability and the need to monitor FX movements closely. These statements come at
Apple device users are in for a treat as they will soon have the option to utilize buy now, pay later loans from Affirm for their purchases. Affirm, a fintech company based in San Francisco, announced that it will be available as a payment choice for U.S. Apple Pay users on iPhones and iPads later
French President Emmanuel Macron’s announcement of snap elections following the European Union (EU) elections took many by surprise. The decision to dissolve parliament and call for new legislative elections came after exit polls showed his alliance suffering a heavy defeat to Marine Le Pen’s far-right National Rally (RN) party. Macron’s call for lower house elections