Author: FX
Crude oil technical analysis shows Q4 could take prices towards the $100 mark but remain around overbought levels which could limit upside Source link
2/2 © Reuters. Migrants travelling by train to Ciudad Juarez in an attempt to reach the United States, wait near train wagons while being stranded near Villa Ahumada, in the state of Chihuahua, Mexico September 29, 2023. REUTERS/Jose Luis Gonzalez 2/2 VILLA AHUMADA/PIEDRAS NEGRAS (Reuters) – Migrants were stranded in Mexico on Friday miles from the U.S. border after the freight train they were traveling on top of abruptly stopped, amid the ongoing suspension of dozens of northbound trains over fears around migrant safety. Hundreds of migrants were seen by a Reuters witness aboard a stationary train in a desert-like…
Warning: CGEMY is at high risk of cutting its dividend Source link
© Reuters. The United States economy has been facing turbulent times lately, with the U.S. Personal Consumption Expenditure (PCE) inflation index rising by a significant 3.5% over the past 12 months. Even when excluding the volatile food and energy sectors, it’s evident that the efforts made by the U.S. Federal Reserve to curb inflation have fallen short of their 2% target rate. U.S. Treasurys have lost a staggering $1.5 trillion in value, primarily due to these rate hikes. This has led investors to question whether (BTC) and risk-on assets, including the stock market, will succumb to heightened interest rates and…
SlavkoSereda/iStock via Getty Images Crude oil concluded its best quarterly gain since the initial months of the war in Ukraine, but Wall Street does not expect the rally to last much longer, as high prices are beginning to dent demand. Front-month WTI crude (CL1:COM) closed Q3 with its best showing since Q1 2022, +28.5% to $90.79/bbl, and front-month Brent crude (CO1:COM) ended the quarter +27.2% to $95.31; for the week, WTI rose 0.8% and Brent gained 2.2%. Energy stocks also finished a fine quarter, with the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) up 17%. ETFs: (NYSEARCA:USO),…
© Reuters. By Jonathan Stempel NEW YORK (Reuters) – A Texas investment firm agreed on Friday to pay $2.51 million to settle a U.S. government lawsuit accusing it of fraudulently obtaining payments from a fund meant to compensate victims of Bernard Madoff’s massive Ponzi scheme. The U.S. Department of Justice said Fulcrum Capital Partners violated the federal False Claims Act between October 2016 and October 2022 by causing the Madoff Victim Fund (MVF) to make inflated payouts to victims, which they then turned over to Fulcrum, a “non-victim” of Madoff’s fraud. In a civil complaint filed in Manhattan federal court,…
Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The GBP/USD sank just south of the 1.2200 handle heading into the Friday market close, and the pair finds itself still struggling under the weight of a heavy bearish trend. Inflation continues to be a hot topic for the Bank of England (BoE), and…
Share: Canadian Dollar back into recent lows as Crude Oil prices tumble on Friday. Canadian GDP missed market expectations, economic growth came in flat. USD/CAD etches in a new high for the week as CAD slips, US Dollar recovers. The Canadian Dollar (CAD) saw both a new high and a new low against the US Dollar (USD) on Friday, with the USD/CAD slumping to a session low of 1.3417 before rebounding to reclaim the 1.3500 handle and mark in a new weekly high at 1.3580. Canadian Gross Domestic Product (GDP) figures failed to meet market expectations, with the…
Share: The AUD/USD has walked back all of the day’s gains in Friday trading as the DXY sees resurgence. Friday sees the Aussie down over 1% against the Greenback. A looming US government shutdown is seeing markets balk as investors clam up and jump back into the USD. The AUD/USD has slipped over 65 pips on Friday to slide back into the 0.6430 neighborhood as the US Dollar Index (DXY) catches a broad-market lift in investor fears of an impending US government shutdown. The American government is poised to head straight into a partisan lockdown, which could see next…
Markets:Gold down $16 to $1848WTI crude oil down 78-cents to $90.93US 10-year yields down 0.2 bps to 4.57%S&P 500 down 12 points to 4288AUD leads, CAD lagsThe quarter ended with some drama as the US dollar shot higher, recouping losses from European and Asian trading and in some cases making new highs. USD/CAD was particularly strong as oil prices reversed lower to finish the week flat.Once again, Treasury yields turned higher after an early slide. That took down equity markets, which finished largely flat after a strong open.The reasons for the moves were more to do with quarter-end flows than…