Author: FX
The euro is quickly knocked down on the headlines here, with EUR/USD falling by 0.6% now to 1.1665 on the day. EUR/GBP has also dropped by 0.3% to 0.8680 as French political woes are weighing on the currency. At the same time, French stocks have deepened losses as well with the CAC 40 index now down 1.7% on the day.Newly appointed French prime minister Lecornu was immediately under pressure on the weekend as he struggled to get his fiscal affairs in order. There were concerns about having to get backing on the budget in order to address the growing deficit…
HIVE Digital mines 267 bitcoins in September, highest level seen this year Source link
After slipping from 2.0300, EUR/NZD looks ready to retest key inflection points that could set the stage for another leg higher in its longer-term uptrend. Here’s what we’re seeing on the daily time frame! EUR/NZD Daily Forex Chart by TradingView The euro took a few punches last week as mixed data and rising Russia-Ukraine tensions overshadowed hawkish signals from the ECB. Meanwhile, the New Zealand dollar benefited from higher gold prices, improved risk sentiment, and possibly a recovery from its oversold conditions ahead of RBNZ’s decision this week. Remember that directional biases and volatility conditions in market price are typically…
Thai inflation negative for six straight months as full year forecast lowers Source link
WTI crude oil fell through support around the $62 per barrel mark and now seems ready to retest this area of interest. Will it hold as resistance? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Resurfacing oversupply concerns, this time driven by the OPEC+ rumored production increase and resumed Iraqi Kurdistan crude flows to Turkey, dragged WTI crude oil below a strong support zone early last week. However, geopolitical tensions in Russia kept losses in check, as investors continued to worry what escalating conflict could mean for oil production. Can the energy commodity go for a higher bounce? Remember that…
After the government shutdown sent the dollar spiraling, markets are gearing up for a data-heavy stretch that could reshape the FX space. Source link
The NZD/USD pair trades on a positive note around 0.5825 during the early Asian session on Monday. The fears of a prolonged US government shutdown continue to drag the US Dollar (USD) lower against the New Zealand Dollar (NZD). Traders await the release of FOMC Minutes later on Wednesday for fresh impetus. The US government shutdown entered its fifth day as US Senators failed to pass spending proposals to reopen the federal government. Later on Sunday, US President Donald Trump said that his administration would begin laying off federal workers. “It’s taking place right now,” Trump said. “If the shutdown lasts for…
China has been using a covert financial system to pay Iran for oil, circumventing U.S. sanctions and strengthening economic ties between the two countries, according to Western officials.The mechanism, described as a barter-style conduit, allows Iran to ship crude oil to China—its largest buyer—while Chinese state-owned firms carry out infrastructure projects in Iran as payment. Officials say the system relies on Sinosure, China’s state export-credit insurer, and a little-known financial entity called Chuxin, which operates outside the formal banking network.By avoiding the international payment system, the channel has become a financial lifeline for Tehran, helping fund major projects despite U.S.…
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to a modest increase in its November oil production as group leaders Saudi Arabia and Russia overcame a difference in position. OPEC+ confirmed in a statement on its website that the group will add 137,000 barrels a day next month, Bloomberg reported on Sunday. Market reactionAt the time of press, the WTI price was up 1.65% on the day at $61.50. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and…
EUR/USD retraces its recent gains registered in the previous session, trading around 1.1720 during the Asian hours on Monday. The downside of the pair could be limited as the US Dollar (USD) may struggle amid the rising likelihood of the US Federal Reserve (Fed) rate cuts in the upcoming meetings. The CME FedWatch Tool suggests that markets are now pricing in a 95% chance of a Fed rate cut in October and an 84% possibility of another reduction in December.The upside of the Greenback could also be restrained as concerns rise after United States (US) Senators failed to pass spending…