August 2023 – Page 4 – UAG Trade Asia

Crude Oil Price Outlook: WTI May Extend Push Higher as Retail Traders Turn Bearish

Crude oil prices have extended a near-term winning streak from last week. In response, retail traders are becoming slightly more bearish. Is this a sign that WTI may continue higher?

August 30, 2023
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LONDON, Aug 30 Reuters The pound held mostly steady on Wednesday, after data showed British consumers borrowed less than expected in July in response to higher interest rates, while a gauge of housing market was forecast to hit an 11year low this year. Volatility in the currency market remained subdued ahead of key data releases […]

August 30, 2023
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MUMBAI, Aug 30 Reuters The Indian rupee weakened for the second day on Wednesday as U.S. dollar demand from importers and equityrelated outflows pressured the domestic unit despite lower U.S. treasury yields and softness in the dollar. The rupee closed slightly lower at 82.7325, as compared to 82.7050 in the previous session. Asian currencies traded […]

August 30, 2023
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LONDON, Aug 30 Reuters The euro steadied against the dollar on Wednesday as rising inflation in Germany and Spain led investors to price in a bigger chance of an European Central Bank hike, while U.S. labour market data due later this week is set to give clues on the Federal Reserve rate path. Spain and […]

August 30, 2023
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NEW YORK, Aug 30 Reuters Nvidia Corps soaring rally has thrilled investors this year except for the sizeable number of fund managers who avoided what they believe to be an expensive stock. Shares of the semiconductor company whose chips power generative AI apps such as ChatGPT have more than tripled this year in a rally fueled […]

August 30, 2023
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JOHANNESBURG, Aug 30 Reuters The South African rand was weaker in early trade on Wednesday as the dollar clawed back some losses on global markets, while local credit extension slowed more than expected. At 0715 GMT, the rand traded at 18.5525 against the dollar , about 0.5 weaker than its previous close. Central bank data […]

August 30, 2023
Finance
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PREVIOUS TRADING DAY EVENTS 30 August 2023 The JOLTS job openings report showed that U.S. job openings dropped to the lowest level in nearly 212 years in July, to 8.83M. Interest rate increases by the Fed have finally shown a desired effect as the labour market gradually slowed. The number of people quitting their jobs […]

August 30, 2023
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Secondquarter GDP growth revised down to 2.1 Consumer spending revised up; business investment pared Corporate profits rebound in Q2; down yearonyear Private payrolls increase 177,000 in August WASHINGTON, Aug 30 Reuters The U.S. economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears […]

August 30, 2023
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MILAN, Aug 30 Reuters Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resourcerich African country. Londonlisted oil producer Tullow Oil fell as much as 12 in afternoon trading, while French energy companies TotalEnergies Gabon and Maurel et […]

August 30, 2023
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NEW DELHI, Aug 30 Reuters India has allowed traders to ship out their nonbasmati white rice cargoes sitting at ports due to a sudden ban on exports of the category, a government order said late on Tuesday. On July 20, India surprised buyers by banning exports of widely consumed nonbasmati white rice to control rising domestic prices. […]

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Crude Oil Price Outlook: WTI May Extend Push Higher as Retail Traders Turn Bearish

Sterling Holds Steady; CashStrapped Brits Borrow Less

Rupee Ends Weaker as Dollar Demand from Importers, Equity Outflows Exert Pressure

Euro Steadies as Markets Raise Bets of ECB Hike after Data

Funds Punished for Owning too few Nvidia Shares after Stunning 230 Rally

ZAR Falls as Dollar Finds Feet; Credit Extension Slows

CB Consumer Confidence Dropped, JOLTS Job Openings Declined

US Q2 Economic Growth Revised Lower as Inventories Drop

Europes GabonExposed Stocks Slide after Military Coup

India Allows Exports of nonBasmati White Rice Trapped at Ports

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