Author: FX
WTI price drifts higher to near $70.95 in Wednesday’s early Asian session. Trump threatened Russia with oil tariffs if Moscow tried to block efforts to end the war in Ukraine. Crude oil stockpiles in the US climbed by 6.037 million barrels last week, according to the API. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.95 during the early Asian session on Tuesday. The WTI price edges higher amid supply worries after US President Donald Trump threatened Russia with oil tariffs. However, the upside for the black gold might be limited as traders braced for reciprocal tariffs that Trump is set…
Doug Emhoff's law firm Willkie Farr & Gallagher reaches deal with Trump Source link
Via oilprice.com:That headline is build in stocks is quite something, especially given a draw was expected. Expectations I had seen centred on:Headline crude -2.1mn barrelsDistillates -1.0 mn bblsGasoline -1.7 mn—This data point is from a privately-conducted survey by the American Petroleum Institute (API).It’s a survey of oil storage facilities and companiesThe official report is due Wednesday morning US time.The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)Its based on data from the Department of Energy and other government agenciesWhereas information on total crude oil storage levels and variations from the previous week’s…
DXY trades near the 104.20 zone after mixed reaction to PMI and Job Openings data. Manufacturing activity contracts and hiring slows, keeping stagflation risks in play. Resistance seen around 104.84 with support clustering near 104.13. The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, trades near the 104.20 area on Tuesday, showing little directional bias after a series of soft US economic data releases. A weaker-than-expected ISM Manufacturing PMI print, a decline in Job Openings, and cautious Fed commentary paint a murky outlook for the Greenback. Despite modest gains, the technical…
Germany's outgoing government claims success over irregular immigration Source link
The Reserve Bank of Australia (RBA) left its cash rate unchanged at 4.10% in its April 2025 policy decision, as widely expected. The central bank statement maintained a cautious tone, noting that underlying inflation is moderating but emphasizing that returning inflation to target remains its top priority. Policymakers reiterated that monetary policy remains restrictive and that confidence is needed to ensure inflation continues on its downward path. The RBA also pointed to ongoing global and geopolitical uncertainties, adding that risks to the inflation outlook remain two-sided. While the language of the statement was largely unchanged from February, the RBA signaled…
The European gas price (TTF) has fallen back to around EUR40 per MWh over the past week, Commerzbank’s commodity analyst Thu Lan Nguyen notes. Scope for further natural gas price weakness is limited “In addition to general economic concerns, a better supply situation is also providing relief. According to Bloomberg data, LNG imports in March reached their highest level for the month since 2017, which should somewhat alleviate fears regarding the current lower filling levels.” “According to the GIE, European gas storage facilities were 34% full on 30 March, compared to a 5-year average of 45% at this time. The…
Boeing denies drop in output after report of 737 setback Source link
Rising inflation expectations are a concern.Inflation expectations remain anchored.Slack in opening in the UK labour market.Disinflation continues to be underway.Wage growth is above what our models can explain. This article was written by Giuseppe Dellamotta at www.forexlive.com. Source link
USD/CHF weakens to around 0.8840 in Tuesday’s early European session. The swirl of uncertainty surrounding the forthcoming US tariffs weighs on the US Dollar. The Swiss Real Retail Sales rose 1.6% YoY in February, stronger than expected. The USD/CHF pair softens to near 0.8840 during the early European session on Tuesday. The US Dollar (USD) edges lower against the Swiss Franc (CHF) as traders grow risk-averse ahead of US trade tariffs expected to be unveiled on Wednesday. Several Trump administration officials suggested that reciprocal tariffs would be focused on a handful of countries that have large trade imbalances with the…