The increase in WTI price to $78.95 on Thursday can be attributed to the 1.4 million barrels dip in US crude stocks reported by the Energy Information Administration (EIA). This unexpected drawdown in inventories signifies a potential increase in demand for crude oil, which usually results in higher prices in the market. The hopes of
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Gold prices have been facing a downward trend as a result of renewed demand for the US Dollar on Wednesday. This comes in the midst of investors showing a lack of confidence in potential Fed interest rate cuts in 2024. The hawkish stance taken by Federal Reserve officials, including Philip Jefferson, Susan Collins, and Lisa
Gold prices have been on an upward trajectory for the past few days, largely driven by a weaker US dollar. The recent US jobs data for April has led to speculations of potential rate cuts by the Federal Reserve, further boosting the gold market. The expectation of an easing cycle may make gold a more
The Australian Dollar (AUD) is influenced by a multitude of factors, ranging from interest rates and inflation to trade balance and market sentiment. One of the key drivers of the AUD is the level of interest rates set by the Reserve Bank of Australia (RBA). The RBA plays a crucial role in maintaining a stable
The Japanese Yen (JPY) has been on a winning streak, gaining momentum for its third consecutive day. This upward movement has been further fueled by rumors of government intervention aimed at supporting the domestic currency. The reported actions by Japan’s financial authorities have shored up the JPY, contributing to its positive trend. Additionally, the recent
The Indian Rupee (INR) has shown momentum with a drift higher on Friday, supported by several key factors. The positive outlook in the Indian economy, along with inflows of foreign capital, has helped boost the INR. Investors are closely watching for cues from the US, particularly the ISM Services PMI and employment data scheduled to
One of the major factors influencing the value of the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). The RBA plays a crucial role in determining the level of interest rates that Australian banks can lend to each other. This, in turn, impacts the overall interest
The unexpected build in crude oil stockpiles in the United States has resulted in Western Texas Intermediate (WTI) prices trading in negative territory for the fourth consecutive day, hovering around $80.80 on Wednesday. This downward trend is a cause for concern among traders and investors as it indicates a potential oversupply in the market. While
The GBP/JPY currency pair has been steadily rising as market sentiment improves, leading to reduced flows to the safe-haven Japanese Yen. Positive lending data in the UK indicates that credit remains ample, which has contributed to the optimism in the market. The BRC Shop Price Index shows disinflation in the UK, but analysts believe it
When analyzing the Australian Stock Exchange (ASX) with REA GROUP LTD – REA, we can see that the Elliott Wave theory suggests that wave 2-red may have recently concluded, indicating the potential for a significant push higher with wave 3-red. This analysis focuses on the major trend in a minor degree, highlighting the motive mode
Germany’s retail sales have shown a positive trend with a significant jump of 1.8% month-over-month in March. This rebound comes after a 1.9% drop in February, indicating a strong recovery in consumer spending. The annual comparison also reveals a 0.3% increase in retail sales, marking a turnaround from the previous decline of 2.7% in February.
China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) showed a positive trend in April, rising to 51.4 from the previous expansion of 51.1 in March. The data, released on Tuesday, surpassed market expectations of 51.0 for the reported month. This increase in PMI indicates a growth in the manufacturing sector, with production expanding at the most