US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
The US Dollar is starting the week with a bounce and the FOMC is in the blackout period ahead of the next rate decision.
Trafigura Enters 3B Loan to Supply Germanys Sefe with Gas
FRANKFURT, Dec 5 Reuters Commodities trading firm Trafigura on Monday said it has entered into a 3 billion fouryear loan to supply gas to German gas trader Sefe, formerly known as Gazprom Germania, and help Europe39;s largest economy secure volumes longterm. We are proud to be contributing to Europe39;s energy security by supplying this significant […]
UK new Car Sales Rise in November, Fail to Zoom past 2019 Levels SMMT
Dec 5 Reuters British new car registrations jumped nearly 24 in November from a year earlier to record their fourth straight month of gains, driven by sales of large fleets and a pickup in demand from private buyers, an industry body said on Monday. The Society of Motor Manufacturers and Traders SMMT said registrations in […]
Japan Sets Price Cap on Russian Oil, Excluding Sakhalin2
TOKYO, Dec 5 Reuters Japan implemented a price cap on Russian crude oil from Monday, but crude oil imported from the Sakhalin2 plant will be excluded, the government said in a statement. The decision follows an agreement by the Group of Seven nations and Australia on Friday to limit the price of Russian crude oil […]
BP Doubles Down on Hydrogen as Fuel of the Future
BP sees fast growth in lowcarbon hydrogen Fuel to benefit from government subsidies CEO Looney to announce hydrogen production targets BP plans big hydrogen project at Whiting, Indiana refinery LONDON, Dec 5 Reuters BP chief executive Bernard Looney is betting on hydrogen to power future lowcarbon businesses as the governments of major economies stump up […]
Chinas Trade Likely Shrank Further in Nov as External, Local Demand Weakened
Trade data due on Wednesday, Dec 7 BEIJING, Dec 5 Reuters China39;s exports and imports likely contracted further in November due to weakening global demand, production disruptions and waning demand at home amid widespread pandemic controls, a Reuters poll showed on Monday. Data for November are expected to show a 3.5 fall in outbound shipments […]
2023 Outlook: Global commodities
Lose-lose is our 2023 commodity bias, because if the only major asset class that gained in 2022 doesn’t decline, central banks may be more likely to stay the rate-hike course.
Sentiment Boost from Easing of Chinas COVID Curbs Weighs on Dollar
SINGAPORELONDON, Dec 5 Reuters The euro and pound hit over fivemonth highs against the dollar in early trade on Monday as improved sentiment caused by Chinese cities easing some COVIDrelated restrictions helped investors justify continuing their shift away from the greenback. Official messaging about how dangerous the virus is has softened and financial hub Shanghai and […]
Euro Hits a High Note Amid China Re-opening Hopes and OPEC+. Where to for EUR/USD?
The Euro has run higher after the US Dollar collapsed again today amid a strong jobs number, OPEC+ news and China potentially re-opening. Will this drive EUR/USD higher?
US Dollar Technical Outlook Remains Grim: USD/SGD, USD/IDR, USD/PHP, USD/THB
The US Dollar is rapidly losing ground against ASEAN currencies. November was the worst month for pairs like USD/SGD and USD/PHP since 2016. Is further pain in store ahead?