Author: FX
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Crude Oil Analysis and ChartsCrude Oil Prices are sliding once again.Traders remain worried about demand if inflation proves resilient and interest rates stay up.Still the broad price uptrend is not yet under serious threat.Download our free Q1 Oil Forecast Recommended by David Cottle Get Your Free Oil Forecast Crude oil prices wilted again on Wednesday as worries about final demand levels trumped concerns about conflict in the Middle East and its effects on supply.Those worries are certainly well founded. Western economies are likely stuck with ‘higher for longer’ interest rates, with inflation slow to die even as recession haunts many…
© Reuters. FILE PHOTO: A BR700-725 jet engine is seen at the assembly line of the Rolls-Royce Germany plant in Dahlewitz near Berlin, Germany, February 28, 2023. REUTERS/Nadja Wohlleben/File Photo By Sarah Young LONDON (Reuters) -Britain’s Rolls-Royce (OTC:) said annual profit more than doubled last year, beating consensus, and it forecast a further jump in 2024 as aircrafts powered by its engines fly more, defence orders flow and data centre demand rises. Rolls, which powers ships and submarines and makes power generation systems as well as engines for big commercial aircraft, has delivered strong growth under Tufan Erginbilgic, the former…
I’m looking at this clean and simple range setup on EUR/GBP as the European economies gear up to print their flash PMIs. Will we see a bounce or a break? Germany and France are expecting dips in business activity while the U.K. is eyeing improvements in both manufacturing and services sectors. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
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If you’ve read our recent FX Weekly Recaps then you’ll know that GBP has been struggling to get bullish momentum since the U.K. printed sticky labor data and cooler-than-expected inflation reports last week. Meanwhile, more traders seem to have priced in the reduced prospects of a Fed interest rate cut in the next central bank meeting or two. Will today’s U.S. and U.K. PMI releases bust GBP/USD out of its current consolidation? GBP/USD 4-hour Forex Chart by TradingView Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie…
Share: NZD/USD scales higher for the seventh straight day and climbs to a fresh multi-week top. Delayed RBNZ rate cut bets underpin the NZD, though some USD dip-buying caps gains. Geopolitical tensions might further contribute to keeping a lid on any meaningful upside. The NZD/USD pair gains positive traction for the seventh successive day on Thursday and hits a nearly five-week high during the Asian session. Spot prices, however, remain capped near the 0.6200 mark and retreat a few pips in the last hour amid the emergence of some US Dollar (USD) buying. The minutes of the January…
© Reuters. FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, March 8, 2016. REUTERS/Kim Hong-Ji/File Photo By Cynthia Kim and Jihoon Lee SEOUL (Reuters) – South Korea’s central bank left interest rates at a 15-year high on Thursday amid signs that the weaker economy is slowing inflation, with investors zeroing in on Governor Rhee Chang-yong’s comments on the timing of a policy pivot later this year. The Bank of Korea (BOK) held its key policy rate at 3.50% at a policy review in Seoul, keeping it unchanged…
jetcityimage/iStock Editorial via Getty Images BP (NYSE:BP) plans to restart its Whiting, Indiana, refinery – the largest in the Midwest – in the last week of February and return to full production in March, Reuters reported Wednesday. The Whiting refinery was shut on February 1 by a plant-wide power outage initially attributed to the failure of two transformers at the refinery, and BP (BP) has been assessing refinery units and internal piping for possible damage from the sudden shutdown as well as determining the exact cause of the power loss, according to the report. Retail gasoline prices in the Chicago…
UBS has published its updated forecasts for the Federal Open Market Committee (FOMC):Given the upside surprises to both payrolls and inflation, we now expect the Fed to wait a bit longer before cutting rates, making its first 25 basis point cut in June rather than in MayOur base case calls for one rate cut per quarter after that until the Fed Funds target range reaches 3.25~3.5%, in line with our estimate of the longer-run neutral ratewe believe that a wide range of outcomes is possible UBS analysts say that the Fed is in no rush to begin lowering interest rates,…