Day: May 31, 2021
OPEC Meeting Unlikely to Roil Markets, But Iran Might
It’s a crucial week for the oil market, with an OPEC+ meeting on Tuesday that will likely see the cartel and its allies increase their production gradually, capitalizing on the improvement in demand. This has already been decided, so the market reaction this time will depend on the signals they send about any future moves. …
OPEC Meeting Unlikely to Roil Markets, But Iran MightRead More
XAU/USD Outlook: Gold Eyes $2000 Barrier as Bulls Accelerate in May on Growing Inflationary Pressure
Spot Gold keeps firm tone and consolidating under new nearly three-month high ($1912) on Monday, supported by weak dollar while growing inflationary pressures lift gold’s appeal as the metal is used as a hedge against inflation. The other supportive factor for the yellow metal would be monetary policy as remains firmly dovish and refusing to …
Sterling and Dollar Softer in Subdued Trading, Aussie Firm ahead of RBA
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance …
Sterling and Dollar Softer in Subdued Trading, Aussie Firm ahead of RBARead More
Sterling and Dollar Softer in Subdued Trading, Aussie Firm ahead of RBA
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance …
Sterling and Dollar Softer in Subdued Trading, Aussie Firm ahead of RBARead More
Black Wall Street was shattered 100 years ago. How the Tulsa race massacre was covered up and unearthed
Ruins of the Greenwood District after the massacre of African Americans in Tulsa, Oklahoma, in June 1921. American National Red Cross photograph collection. GHI | Universal Images Group | Getty Images A century ago this week, the wealthiest U.S. Black community was burned to the ground. At the turn of the 20th century, the Greenwood …
Will Canada GDP Lift Canadian Dollar?
The Canadian dollar is almost unchanged at the start of the week. In the European session, USD/CAD is trading at 1.2064, down 0.06% on the day. US markets are closed for Memorial Day and there are no US events, so we can expect a quiet day for the pair. Canada will release the Raw Material …
EUR/USD Outlook: Euro Extends Sideways Mode
The Euro remains in directionless mode for the third consecutive day after a pullback from a new multi-week high (1.2266) reached the minimum correction level at 1.2133 (Fibo 23.6% of 1.1704/1.2266) but was strongly rejected here. Near-term action is so far failing to benefit from bullish signal on Friday’s hammer candle, with a narrow range …
Asian Manufacturing Disappoints Slightly
Market movers today Key market movers this week will be US non-farm payrolls, ISM manufacturing, and euro Flash CPI, see Weekly Focus, 28 May, for more. Talks on a US infrastructure bill are also set to continue this week. Speeches from Fed members could also be interesting after the high core PCE inflation print on …
Dollar Mildly Lower in Holiday Mood, Busy Week Ahead
Dollar weakens broadly in relatively quiet Asian session today, while Australian Dollar is strengthening. Asia markets are trading mildly lower, but losses are limited. Month-end flow, plus holiday in the UK and the US, could keep activity subdued today. But the week ahead is extremely busy, with lots of first-tier economic data featured. Technically, Dollar’s …
Dollar Mildly Lower in Holiday Mood, Busy Week AheadRead More
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Finance news
 Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More  Fears of a Fed mistake grow as this week’s anticipated interest rate hike loomsJerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic ... Read More |
