Crude oil slips lower as the COVID spread in China deteriorates amidst lower risk sentiment. Higher interest rates are weighing on CL futures. Tight oil supplies provide some support to the falling prices. The crude oil futures (CL) price fell nearly 5% on Monday, extending a decline that began last week amid worries about the Read More…
UK retail sales data weighed on the pound. The Bank of England is still undecided about a rate hike. Fed’s hawkish rate hike plan drives the market. After UK retail sales data for March failed to show that inflation is biting consumers’ wallets, the British pound futures (6B) fell to major levels during the session. Read More…
On Thursday, Japanese Yen futures dropped to 0.007780 as the Yen faced renewed pressure amid global yields rise. Markets are now waiting for central bank policymakers, including Fed Chair Powell, to make comments that could trigger further gains. Bulls anticipate a possible retest of the multi-year lows surpassed earlier this week around 0.007735. As traders Read More…
In response to a stronger US dollar, the Canadian $ (6C) fell from 0.7985 to 0.7930. A less aggressive than expected meeting by the ECB prevented higher oil prices from helping the CAD. Hawkish BoC could not help the bulls as the US dollar remains broadly stronger against its rivals. After rising to fresh weekly Read More…
Crude oil futures tend to fall further amid rising Covid in China. The release of the US oil supply may fuel the bears further. The technical bias remains on the downside. During mid-morning trading on April 11 in Asia, crude oil futures (CL) fell on concerns over China’s handling of the COVID-19 surge and stockpiling Read More…
Wednesday marks the fourth consecutive day that the CHF/USD pair has seen strong bearish momentum. The dollar surged near two-year highs in response to the Fed’s hawkish outlook. CHF safe haven boosted by softer risk tone ahead of FOMC minutes. In the first half of the European session, the CHF/USD futures (MSF1) exchange rate maintained Read More…
