Safe-haven flows dominate financial markets at the beginning of the week as investors react to the latest news surrounding the Israel-Iran conflict. S&P will release revisions to July PMI data for the Euro area, Germany and the UK on Monday, while later in the day, the ISM Services PMI report for July will be featured in … Read more
Silver is down by more than 5%, skidding below $28.00 in Monday trading. XAGUSD took a nosedive to an almost three-month low as fears of a global economic slowdown has intensified following a string of US economic data that indicated the nation is moving towards a recession. Recent US data showed signs of slower labour … Read more
West Texas Intermediate (WTI) inched higher to near $76.50 per barrel in Friday’s Asian trading, with the price of crude oil finding support from supply risks arising from heightened geopolitical tensions in the Middle East, despite ongoing global demand concerns. Markets are closely watching Iran’s reaction to the assassination of Hamas leader Ismail Haniyeh. According … Read more
Silver (XAGUSD) fell sharply to near $28.70 in Thursday’s European trading after posting a fresh weekly high at $29.16. The white metal dropped as the US Dollar rebounds strongly, and the Caixin Manufacturing PMI surprisingly contracted in July. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, jumped higher to near … Read more
The EURUSD currency pair weakened to near 1.0835 in Monday’s European trading, declining amid uncertainty ahead of the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) for July and the Fed’s monetary policy announcement on Wednesday. The Eurozone inflation data will indicate whether market expectations for two more rate cuts by the European Central Bank this … Read more
The EURUSD currency pair weakened to near 1.0830 Wednesday, as the preliminary Eurozone Hamburg Commercial Bank (HCOB) Purchasing Managers’ Index (PMI) report for July showed that composite numbers unexpectedly eased due to a slowdown in activities in the manufacturing and services sectors. The HCOB Composite PMI decreased to 50.1, just above the 50 threshold that separates … Read more
The price of Silver halted its five-day winning streak, with XAGUSD trading around $30.40 per troy ounce on Thursday. The decline in the safe-haven metal is attributed to increased optimism following signs of renewed efforts to secure a ceasefire deal between Israel and Hamas, as reported by Reuters. Mediators Egypt and Qatar delivered a response from … Read more
The EURJPY currency pair traded in positive territory for the sixth consecutive day near 173.80 on Wednesday during the early European session. The Yen weakened after the data showed that Japanese business activity turned contractionary in June. The final reading of Japan’s Services PMI fell to 49.4 in June from 49.8 in May. This figure … Read more
By Naeem Aslam European and US stock futures are trading higher on the first trading day of the second half of the year, with another reason for traders to feel a little more confident Monday being the news of the first round of the French snap parliamentary election. France is the second-largest economy in … Read more
The EURUSD extended its recovery to 1.0740 in Tuesday’s European trading, with the major currency pair rising as growing optimism for the Fed to reduce interest rates twice this year has increased investors’ risk appetite. The US Dollar Index (DXY), which tracks the greenback’s value against six major currencies, has dropped to 105.40 as demand … Read more