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The oil market remains under pressure. A barrel of Brent oil declined to 71.80 USD by Tuesday. The commodity erased all early-week gains as fears of slowing demand in China outweighed the risk of energy shortages due to the storm in the Persian Gulf. In recent weeks, market participants have been paying close attention and […]

The post Brent Remains Under Pressure: China and Rapid Growth in OPEC+ Production to Blame appeared first on Action Forex.

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25/06/2024

Canadian Dollar Eyes Inflation Release

The Canadian dollar is showing limited movement on Tuesday. USD/CAD is trading at 1.3675 in the European session, up 0.12% on the day at the time of writing. We could see some volatility in the North American session, when Canada releases the May CPI report. In the US, today’s highlights are the CB Consumer Confidence […]
19/01/2024

Sunset Market Commentary

Markets Markets received another dose of realism in the form of solid US economic data. US December housing data came in on the strong side of expectations. Building permits, seen as a leading indicator for the sector, rose by 1.9% m/m (1495k) vs 0.7% expected. Shovel-in-the-ground housing starts, the next step in the process, declined […]
05/12/2023

Financial Markets Were Feeling Hangover From November Rally

US yields rebounded and major indices sold off yesterday as markets have priced in a beyond-reasonable amount of rate cuts from the Federal Reserve (Fed) for next year based on a soft-landing scenario. All eyes are on the US jobs data for some comfort… that may or may not come. Hangover Financial markets were feeling […]