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Australia’s central bank raised interest rates for the third time this year on Tuesday, returning borrowing costs to post-pandemic highs and warning that inflation is likely to remain persistent amid a global oil shock driven by Middle East…
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US services sector growth slowed for a second straight month in April, as softer demand and sustained cost pressures weighed on activity, according to a survey released Tuesday by the Institute for Supply Management. The ISM…
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Brent oil surged on Monday as tensions in the Middle East intensified, following the US announcement of an operation to reopen the Strait of Hormuz, while Iran reported striking a US warship attempting to enter the strait. Amid the…
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Gold opened the week on the back foot, dropping around 1.8% by mid-European trading on Monday, as mounting inflation concerns pushed major central banks toward a more hawkish stance, even as they left interest rates unchanged at last week’s…
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Inflation in Great Britain accelerated to 3.3% year-on-year in March from 3.0% in February, matching expectations, while monthly inflation rose 0.7%, above the previous month’s 0.4% increase and ahead of forecasts for a 0.6% gain. Core…
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The dollar was firmer during Asian and European trading on Tuesday, partially recovering Monday’s 0.36% decline, though near-term price action remains confined within the recent congestion range of $97.40/$98.22 as investors await fresh…
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WTI oil opened $5 higher on Monday and surged more than 6% in early trading, after the “Trump Indicator” — one of the market’s main fundamental drivers at present — reversed course over the weekend amid renewed tensions surrounding the…
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Gold opened sharply lower on Monday, gapping down and falling roughly $150 from Friday’s high, as market sentiment shifted again following weekend escalation that resulted in the closure of the Strait of Hormuz. The renewed deterioration…
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Crude oil prices fell sharply on Friday after the Iranian government announced that the Strait of Hormuz had been reopened to all commercial shipping. Brent crude dropped by around 10% immediately following the statement during early…
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The euro rallied to a fresh two-month high on Friday, as bulls regained momentum after an eight-day advance paused in the previous two sessions with narrow consolidation. Continued weakness in the dollar helped sustain risk appetite and…
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