Author: FX

Crude oil inventories build of 2.774 million versus 0.055 million estimateDistillates inventories build of 1.147 million versus 0.556 million estimateGasoline inventories build of 2.513 million versus 0.745 million estimateRefining utilization 2.3% versus expected 0.8%. Prior was 0.6%Crude oil production 13.814 million barrels versus previous 13.834 million barrelsCrude production change -20 K versus -28K last month Crude oil is currently trading at $57.98 that’s up $0.03 on the day. Geopolitical news involving a hopeful peace agreement between Ukraine and Russia has traders eyeing its impact. The low for the week extended to $57.38. The high is at $60.85. Last week, the…

Markets have been buzzing about a potential shake-up at the most powerful central bank in the world. The Federal Reserve, the institution that controls interest rates and essentially steers monetary policy for the entire U.S. economy, could soon have a new leader with very different ideas about how things should work. Why does this matter to traders like you and me? Because the Fed Chair is arguably the single most influential person in global finance. Their decisions on interest rates ripple through every market: stocks, bonds, currencies, and commodities. Right now, President Trump’s search for a replacement is signaling a…

Chancellor Reeves sidestepped the biggest fiscal dangers, delivering limited near-term tightening while preserving headroom through backloaded tax hikes, NOMURA’s FX analyst Dominic Bunning reports. GBP shorts face near-term squeeze”Chancellor Reeves avoided the major tail risks that we were worried about. Limited near-term tightening but larger fiscal headroom (via backloaded tax hikes) seems to be amongst the ‘least bad’ outcomes.””Scope for GBP shorts – which have been among the most popular G10 FX positions – to retrace.””GBP is not out of the woods yet. Backloading the tightening (until largely the next election!) still risks credibility and cyclical momentum is soft but…

At least 13 dead after fire engulfs residential high-rise buildings in Hong Kong Source link

In terms of where the range that they are expecting for gold, it is from $3,950 to $4,950 in 2026. On the bump higher, Deutsche cites continued central bank demand as a key reason:”Third quarter supply-demand data supports a continued central bank bid. The positive structural picture shows inelastic demand from central banks and ETF investment diverting supply from the jewellery market. Also, overall growth in demand outpaces supply.”Before adding that:”Gold often exhibits a positive correlation to risk, so a deeper equity market correction would be damaging, as would our House view for less Fed easing than the market expects…

In a recent analysis by UBS, Paul Donovan discusses the implications of the latest US Retail Sales data, which showed slight softness. Donovan emphasizes the importance of understanding the context of these numbers, particularly in light of inflation effects.Donovan also notes the potential for revisions and the impact of changing consumption patterns. Despite concerns, he suggests that there is no immediate cause for alarm based on credit card data. Retail sales data prompts cautious outlook”US September retail sales data were old news, but slightly softer. While it is tempting to blame the accelerating US inflation rate, retail sales are nominal…

SoftBank Group (OTCPK:SFTBY) (OTCPK:SFTBF) raises about ¥500 billion (~$3.2 billion) from retail investors with a coupon rate of 3.98% on a yen-denominated senior bond. This coupon rate is the highest for a yen-denominated senior bond from SoftBank (OTCPK:SFTBY Source link

It’s a big day for the UK and that will see plenty of watchful eyes on the pound as well as the gilts market. UK chancellor Reeves will be announcing the Autumn Budget and that will be heavily scrutinised amid the intense political pressure that she has come under in recent months.The quid is trading steadier so far this week, with GBP/USD running up against another test of 1.3200 while EUR/GBP has cooled a little after having hit two-and-a-half year highs earlier this month just above 0.8850. The latter is now trading back around 0.8782, keeping underpinned but awaiting the…

GBP/NZD looks comfortable inside an identified range after today’s catalysts! Will the pair head for lower areas of interest before seeing more sustained demand? Here’s what we’re seeing on the 4-hour time frame: GBP/NZD 4-hour Forex Chart by TradingView A surprisingly hawkish call from the Reserve Bank of New Zealand (RBNZ) earlier today sent the New Zealand dollar higher against major currencies, including the British pound. Sterling did not share that momentum, as traders stay cautious with the U.K. Autumn Budget report only hours away and uncertainty hanging over the currency. Remember that directional biases and volatility conditions in market…

The Reserve Bank of New Zealand (RBNZ) cut its Official Cash Rate by 25 basis points to 2.25% on Wednesday, matching market expectations but delivering a surprisingly hawkish message that sent the New Zealand dollar surging across the board. The Monetary Policy Committee voted 5-1 in favor of the reduction, with one member preferring to hold rates unchanged at 2.50%. This marked a dramatic shift from August’s unprecedented 4-2 split vote, where the minority had pushed for a larger 50bp cut. Overall, the RBNZ emphasized that while economic activity was weak over mid-2025, it is now picking up. Lower interest…