Author: FX

OPEC Anticipates Lower (QoQ) Global Oil Demand in Q2According to revised forecasts in OPEC’s monthly report for March, Q2 remains likely to see a drop in global oil demand compared to Q1, although the group now sees a slight improvement of an additional 70,000 barrels per day (bpd) compared to last month’s figures. In Q2, OPEC anticipates global oil demand of 100.77 million barrels per day (mbpd), down from the Q1 figure of 101.28 mbpd.This article delves into the fundamental factors surrounding oil. For a full technical forecast, see our guide below Recommended by Richard Snow Find out what key…

straga/iStock via Getty Images Europe has failed to secure enough long-term contracts for liquefied natural gas to offset cut-off Russian gas imports, which may prove costly next winter as a rebound in Chinese demand could sharply tighten the market, according to a new analysis this week from Reuters. Europe imported 121M metric tons of LNG last year ahead of the 2022-23 winter season to replace Russian gas – 60% more than the previous year – to help the continent to get through winter with higher than expected gas storage levels. But Europe bought much of its LNG last year on…

6/6 © Reuters. Natalia Rakk smiles as she walks with her 14-year-old daughter Aliona, who went to a Russian-organised summer camp from non-government controlled territories and was then taken to Russia, after returning via the Ukraine-Belarus border, in Volyn region, Uk 2/6 By Anna Dabrowska UKRAINE/BELARUS BORDER (Reuters) – More than 30 children were reunited with their families in Ukraine this weekend after a long operation to bring them back home from Russia or Russian-occupied Crimea, where they had been taken from areas occupied by Russian forces during the war. Mothers hugged sons and daughters as they crossed the border…

EUR/USD Technical Forecast: Unattractive Price Action for NowThe euro pushed higher against the U.S. dollar during the first quarter of 2023 and briefly reached its best level since April 2022 in early February. When risk-off mood erupted in global markets, sellers returned, preventing EUR/USD from clearing the 1.1035 area, a major technical ceiling defined by the 50% Fibonacci retracement of the 2018/2022 decline.EUR/USD has lacked strong bullish conviction but has retained a modest positive bias since late 2022 after overcoming its 200-day simple and breaking above long-term trendline resistance. Its slow upward trek, however, has not been impressive, with the…

The retail trading market, including day trading Day Trading Day trading is the buying and selling of a financial instrument, (such as currencies, commodities, shares), within a single trading day.This is done with the intention of making a short-term profit from the fluctuation of that particular instrument. Day trading is most popular in the foreign exchange market (forex), and to a lesser extent with stocks and shares. The reason why forex trading lends itself so well to day trading is due to its 24 hours a day, 5 days a week trading time.Additionally, Day trading is the buying and selling…

US regional banks will have a challenging start to the new week after struggling First Republic announced late on Friday that it was suspending dividend payments on preferred shares. The company said it was “as a measure of prudent oversight” but cutting the prefs is a desperation move. It was fear of Citigroup cutting its preferred the kicked off a round of the financial crisis and an eventual government bailout.Shares of FRC closed Thursday at $14.03 from a high of $147.68 in February. The problem with that share price is that it’s still too high to fold the company into…

MON: Easter Monday – US Markets Open, Japanese Trade Balance (Feb), EZ Sentix Index (Apr).TUE: IMF World Economic Outlook, EIA Short-Term Energy Outlook, Chinese Inflation (Mar), Norwegian CPI (Mar), EZ Retail Sales (Mar).WED: FOMC Minutes, BoC Announcement, US CPI (Mar).THU: OPEC Oil Market Report, Australian Jobs Report (Mar), Chinese Trade Balance (Mar), UK GDP Est. (Feb), US PPI (Mar).FRI: EIA Oil Market Report, Swedish CPI (Mar), US Retail Sales (Mar), US University of Michigan Prelim. (Apr).NOTE: Previews are listed in day-orderChinese Inflation (Tue): Chinese CPI is expected to have picked back up in March, with the Y/Y expected to tick…

JAPANESE YEN KEY POINTS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter JAPANESE YEN Q1 RECAPThe Japanese Yen has had an interesting Q1 to say the least with the Yen starting the quarter looking vulnerable against the Greenback. The US Federal Reserve looked set to continue on an aggressive hiking cycle while the Bank of Japan looked set to continue down its easy monetary policy path.February turned out to be a difficult month for the Yen as it posted steep losses against the US Dollar. The…

Neilson Barnard/Getty Images Entertainment New content is proving to still be king in streaming, as Netflix (NASDAQ:NFLX) is showing in the latest numbers. The streaming leader topped ratings with three originals, bolstered by new episodes. Five more episodes in the newest season of Netflix’s You led it to log 1.35B minutes streamed and top Nielsen’s latest weekly ratings (for the week of March 6-12). It was followed on the overall list, though, with two more Netflix originals (Outer Banks, with 1.227B minutes, and MH370: The Plane that Disappeared with 1.165B minutes) ahead of HBO Max (NASDAQ:WBD) entry The Last of…

© Reuters. FILE PHOTO: Migrants stand near the border wall after crossing the Rio Bravo river with the intention of turning themselves in to the U.S. Border Patrol agents, as seen from Ciudad Juarez, Mexico March 30, 2023. REUTERS/Jose Luis Gonzalez By Ted Hesson WASHINGTON (Reuters) – The Biden administration next week will begin testing faster asylum screenings for migrants caught crossing the U.S.-Mexico border illegally, the Department of Homeland Security said on Saturday, part of preparations for the end of COVID-19 border restrictions in May. U.S. asylum officers will conduct initial asylum screenings for a small number of migrants…