Tag: Commodities

Iranian Lawmakers Summon President to Answer for Economic Struggles

Iranian lawmakers have given President Hassan Rouhani one month to appear before parliament to answer questions on his government’s handling of Iran’s economic struggles, state media reported on Wednesday. It is the first time parliament has summoned Rouhani, who is under pressure from hardline rivals to change his cabinet following a deterioration in relations with […]

Dollar Higher Ahead of Fed Meeting OANDA Market Beat Podcast

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Joining him this week is OANDA’s Vice President of Research Dean Popplewell Subscription available on iTunes https://goo.gl/TZEWRW and GooglePlay https://goo.gl/cRBk39. Tune in every Tuesday and don’t miss a beat […]

Trade war breakthrough?

Trade war breakthrough? US markets are off to a rousing start in the wake of a report that US and China are said to restart talks to avert the escalating tit for tat trade war but renewed selling in large-cap tech companies has tempered gains. But indeed any tempering of this confrontational issue ahead of […]

Gold Loses Safe Haven Appeal

Gold is supposed to be a haven, a place for investors to turn during tumultuous times. But in the middle of a trade war, gold has fallen into a correction, down more than 10% from its high for the year. Why has the price fallen lately? Simply put, it’s the strong US dollar. Expectations for […]

Commodities Weekly: No traction for commodities as the dollar softens

The US dollar is facing a mild period of weakness ahead of a slew of central bank rate decisions and key data this week. Despite the dollar’s retracement, commodities have mostly failed to capitalize. Precious metals are still pressured by a gloomy demand outlook and news that growth in China’s manufacturing sector had slowed for […]

Wall of worry builds around the US tech sector 

Wall of worry builds around the tech sector  US equity markets continue to absorb Facebook’s swoon which is weighing down FAANG’s ahead of Apple earnings announcement on Tuesday. Indeed the markets heavyweight champions are having a rough day, but US markets pruned much of their losses as bank stocks and surging oil prices boosted producers. […]

Oil Rises Above $70 Ahead of Central Banks

Oil prices rose back above $70 a barrel on Monday, with U.S. crude on pace for its best one-day dollar gain in over a month, after four weeks of losses for the benchmark. The contract to deliver international benchmark Brent crude for September was up 83 cents, or 1.1 percent, at $75.12 a barrel by […]

Gold dips as trade tensions ease following Juckner visit

Gold has posted losses in the Thursday session. In North American trade, the spot price for one ounce of gold is $1227.40, down 0.40% on the day. On the release front, durable goods reports rebounded in June but missed their estimates. Core Durable Goods Orders improved to 0.4%, shy of the estimate of 0.5%. Durable Goods […]

GBP/USD – British pound dips despite soft US durables

The British pound has posted losses in the Thursday session, erasing the gains made on Wednesday. In the North American session, the pair is trading at 1.3149, down 0.31% on the day. On the release front, there are no British events on the schedule. In the U.S, durable goods reports rebounded in June, but missed their estimates. […]

Risk on as US and Europe avert trade battle

Trump/Juncker meeting has results European Commission President Jean-Claude Juncker did not come away from Washington empty-handed. The two presidents reached an accord which included expanding imports of US liquefied natural gas and soybeans while reducing industrial tariffs on each side. Previously, Trump had threatened to impose a 25% tariff on imports of European cars. If […]