The US crude turned negative for the first time in history and traded as low as $-40 per barrel on Monday. This is because the global oil glut has become so large that there is no space left to store this large quantity of unexploited oil. The market is literally submerged...
WTI crude slumped below $15 a barrel and pulled the energy-heavy ASX 200 more than 1% lower in Sydney, as the week kicked off on a mixed note elsewhere in Asia. Gold legged down to $1670 an ounce despite mixed sentiment in Asia. In the FX, the oil currencies were under the pressure of falling oil...
Gold retraced to $1700 per oz. WTI crude traded a touch below the $20 a barrel, while Brent consolidated near $28...
The sell-off in US and European markets lost pace despite less than ideal economic data, with major indices closing the day on a positive note. Nasdaq (+1.66%) stood out again, as demand in technology stocks remained strong. Biotech jumped 4...
WTI crude slipped below the $20 a barrel for the first time in a move that has been more sustainable than we have seen previously, after the IEA said that the global oil demand will slump 9% this year, meanwhile the oil storage will be full by mid-2020...
Global risk appetite deteriorates as ugly economic data added to weak bank earnings confirm that a sizeable recession is knocking on the door...
US stock indices extended gains on Tuesday. The S&P500 gained 3.06% and Nasdaq rallied 3.95% as technology stocks led gains. Big banks were among the worst performers of the New York session, followed by energy stocks...
Gold started the week with a heavy rise in demand. The price of an ounce cleared the $1700 offers as investors piled into the precious metal in preparation for potentially hectic price moves over the coming days and weeks. US treasuries remain bid, with the 10-year US treasury yield below the 0...
Asian equities kicked off the week on a mostly positive note on the back of encouraging trade data in China. Chinese exports fell 6.6% in March versus a 14% slump expected by analysts and a 17.2% decline recorded a month earlier. Imports retreated 0.9% y-o-y during the same month versus -9...
The overseas change market (often known as foreign exchange, FX or the forex market) is an over-the-counter (OTC) international market that determines the change price for currencies worldwide. Individuals are capable of purchase, promote, change and speculate on currencies...
According to a top German research institute, the German economy may slow by a record 9.8% in the second quarter and Europe’s growth engine could print a 4.2% contraction this year...
One major risk to the market calm this week is Thursday’s virtual meeting between Saudi and Russia...
The US indices rallied past 3% before reversing gains on Tuesday, and closed the session a touch below zero. The US treasury yields were offered, the US 10-year yield rebounded to 0.73% and the dollar softened...
In the currency markets, the AUDUSD traded past the 0.6150 as the Reserve Bank of Australia (RBA) maintained its interest rates unchanged at the historical low of 0.25% at today’s monetary policy meeting. The EURUSD fluctuated within a 30-pip range around the 1.08 level...
The US stock indices kicked off the week with a bang, with three major indices rallying more than 7% at Monday’s session as news that the new coronavirus cases in some of the world’s hotspots such as New York, Spain, Italy and France are plateauing...
In the currency markets, the shock on US jobs figures fueled USD purchases on Friday, but the greenback is softer on a slightly improved risk appetite this morning. The EURUSD traded a touch above the 1.08 handle...
In the currency markets, the US dollar defines the overall direction for all. And the greenback remains strong as the risk-off behaviour reigns. Due today, the US nonfarm payrolls are expected to unveil 100’000 job losses in March...
