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Canadian Dollar holds below 1.4000 as US and Canada jobs data loom
USD/CAD rebounds on Thursday after briefly slipping below the key 1.4000 support level, as the US Dollar (USD) snaps a two-day losing streak with traders repositioning ahead of Friday's employment reports from the United States (US) and Canada.
Oil: Hormuz risk repricing with fragile support – BNY
BNY’s Geoff Yu notes Oil prices have stabilized near $80 as markets digest Iran’s proposed shipping route with Oman through the Strait of Hormuz. The temporary arrangement has reduced perceived disruption risk for Brent and WTI, helped by larger U.S. inventories.
Silver Price Forecast: XAG/USD clings to gains near $62 with US NFP in focus
Silver price (XAG/USD) holds onto two-day gains at around $62.00 during the European trading session on Thursday. The white metal trades firmly amid hopes of a further decline in oil prices.
Canadian Dollar receives support from higher oil prices
USD/CAD loses ground for the second successive day, trading around 1.4010 during the European hours on Thursday.
Euro: Oil-price sensitivity and war-end effects – Commerzbank
Commerzbank’s Michael Pfister argues that lower Oil prices can initially restrain the Euro (EUR) by reducing European Central Bank (ECB) rate expectations.
Oil: Distillate exports tighten market – ING
ING strategists Warren Patterson and Ewa Manthey note Oil prices remain under pressure, with ICE Brent trading below $80/bbl as markets focus on a potential US-Iran deal to reopen flows through the Strait of Hormuz.
WTI Price Forecast: Downside likely towards $67 on Hormuz reopening hopes
West Texas Intermediate (WTI), futures on NYMEX, trades 0.45% lower to near $74 during the early European trading session on Thursday, closer to its three-week low of $73.51 posted the previous day.
Indian Rupee ticks down, awaiting clarity on Hormuz deal
The Indian Rupee (INR) trades lower against the US Dollar (USD) on Thursday. The USD/INR pair rises to near 95.22 after rebounding from the fresh monthly low of 94.83 posted the previous day.
WTI remains subdued near $74.00 due to Iran-Oman agreement on Hormuz
West Texas Intermediate (WTI) oil price remains subdued for the fourth successive day, trading around $74.20 per barrel during the Asian hours on Thursday.
Yemen's Houthis say they attacked a Saudi oil tanker in the Red Sea, Gulf of Aden
Yemen’s Iran-backed Houthis said ‌that they had launched a missile attack on a Saudi oil tanker off the coast of the kingdom's Red Sea port city of Yanbu and another missile attack on a Saudi oil tanker in the Gulf of Aden, Reuters reported on Wednesday.
Iran says it has agreed on coordinates of route through Strait of Hormuz with Oman
Iran’s Foreign Ministry spokesperson , Esmaeil Baghaei, said that Iran and Oman are close to finalizing a proposed framework for commercial shipping through the Strait of Hormuz, the Guardian reported on Wednesday.Â
WTI holds near three-week low as traders await Hormuz agreement
West Texas Intermediate (WTI) Crude Oil remains under pressure on Wednesday but struggles to attract fresh selling as traders await confirmation that commercial shipping through the Strait of Hormuz will resume. At the time of writing, WTI trades around $74 per barrel, hovering near three-week lows.
United States EIA Crude Oil Stocks Change above expectations (-1.5M) in July 31: Actual (2.479M)
United States EIA Crude Oil Stocks Change above expectations (-1.5M) in July 31: Actual (2.479M)