Author: FX

CRUDE OIL ANALYSIS & TALKING POINTSGlobal economic growth and USD variables play tug of war with oil markets.US CPI and FOMC the focal points for the week ahead.Crude oil prices anticipate fundamental guidance. Recommended by Warren Venketas Get Your Free Oil Forecast CRUDE OIL WEEKLY FORECAST: MIXEDCrude oil ended the week relatively flat while trading in a rangebound manner due to the low volatility throughout the week. The upcoming week holds several high impact US economic releases that is likely to bring back excitement to global markets. Despite Saudi Arabia’s announcement to cut production by an additional 1 million barrels…

4/4 © Reuters. FILE PHOTO: Former U.S. President Donald Trump attends a rally in Warren, Michigan, U.S., October 1, 2022. REUTERS/Chery Dieu-Nalio/File Photo 2/4 By Nathan Layne (Reuters) – Republicans in Michigan approved a proposal on Saturday to select more than two-thirds of their state delegates for the party’s 2024 presidential nomination via caucus meetings, a change that could help party front-runner Donald Trump. The plan, which Michigan’s Republican state committee approved during a meeting in Grand Rapids, would mark a departure from the battleground state party’s traditional process of allocating all presidential delegates based on a primary open to…

Boarding1Now/iStock Editorial via Getty Images JetBlue Airways (NASDAQ:JBLU) and American Airlines (NASDAQ:AAL) are attempting to keep some elements of their alliance covering flights across the northeastern U.S. after a judge agreed to block the venture on antitrust grounds last month. JetBlue (JBLU) and American are asking that code sharing and loyalty plans be kept in place under the Northeast Alliance, according to a court filing on Friday. The push from the airlines comes after U.S. District Judge Leo Sorokin last month granted the Justice Department’s request to permanently enjoin the airlines from continuing the Northeast Alliance, effective thirty days after…

jxfzsy/iStock via Getty Images The Citi quantitative team is still confident about its Oversold Strategy, despite a second stumble in returns this year. “Our systematic Oversold Strategy posted its second loss (-4%) this year in May, as the equity market is following more closely on the credit market,” Hong Li, head of U.S. equity quantitative trading strategy, wrote in a note. “However, we believe that the continued uncertainty is still conducive to the strategy going forward, as it is not predicated on the overall market being oversold.” Li provides attractive oversold stocks that have a Citi Buy rating. The stocks…

5/5 © Reuters. Soccer Football – Champions League Final – Manchester City v Inter Milan – Ataturk Olympic Stadium, Istanbul, Turkey – June 10, 2023 Manchester City’s Kyle Walker, Rico Lewis and Phil Foden celebrate after winning the Champions League REUTERS/Dilara Senka 2/5 By Martyn Herman ISTANBUL (Reuters) -Manchester City finally extended their domestic domination across the continent as they beat Inter Milan 1-0 to win the Champions League for the first time and complete a rare treble on a Saturday night of frayed nerves . Pre-match talk of a stroll to European soccer’s most-cherished crown proved off the mark,…

onurdongel/E+ via Getty Images For the week ending June 9, the Industrial Select Sector (XLI) gained (+1.45%) and was among the seven, out of the 11 S&P 500 sectors, which closed the week in green. The SPDR S&P 500 Trust ETF (SPY) also rose (+0.46%). The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +9% each this week. YTD, all these 5 stocks are in the green. Symbotic (NASDAQ:SYM) +28.86%. The robotics warehouse automation company saw its shares surge the most on Wednesday (+12.68%). YTD, the stock has soared…

© Reuters. Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments. In an interview with Cointelegraph, Anders noted that for the crypto framework stated in MiCA to be accepted in most European countries like Sweden, a bit of “pushing” might be required. He stated that MiCA gives the crypto industry a framework to operate with and is expected to bring clarity.Continue Reading on Coin…

GOLD PRICE, CHARTS AND ANALYSIS:GOLD FORECAST: NEUTRAL Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: Bank of Canada Comes Out Swinging with 25bps Hike, USD/CAD SlidesGold prices look set to finish the week higher and yet the move can be described as anything but convincing. The precious metal fluctuated between the $1940-$1970 handles for the majority of the week as continued repricing of rate hike probabilities for the US Federal Reserve weighed on Golds attempted recovery.The biggest shock to markets this week was delivered…

MON: NY Fed Survey of Consumer Expectations.TUE: OPEC MOMR, German Final CPI (May), UK Jobs Data (Apr/May), German ZEW Survey (Jun), US CPI (May).WED: FOMC Announcement, IEA OMR (2024 Forecast), UK GDP (Apr), Swedish CPIF (May), EZ Industrial Production (Apr), US PPI (May), New Zealand GDP (Q1).THU: ECB Announcement, PBoC MLF Announcement, Eurogroup meeting, Japanese Trade Balance (May), Australian Job Report (May), Chinese Retail Sales and Industrial Production (May), US Philly Fed (Jun), US Retail Sales (May).FRI: BoJ Announcement, ECB TLTRO III.5-10 Repayment, EZ Final CPI (May), Uni. of Michigan Prelim. (Jun), Quad Witching.NOTE: Previews are listed in day-orderUK Jobs…

© Reuters. Smoke rises from a wildfire in Tumbler Ridge, British Columbia, Canada, in this screen grab taken from a video, June 8, 2023. BC Wildlife Service/Handout via REUTERS By David Ljunggren OTTAWA (Reuters) – The Canadian province of Quebec says rain and outside help could help win the fight against more than 100 forest fires producing plumes of smoke that have left cities on the Atlantic seaboard gasping for breath. Officials say that by Monday there will be around 1,200 fire fighters, including more than 100 from France, battling blazes across a heavily wooded province of just 8.5 million…