Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
India: Inflation risks stay skewed higher – ING
ING economists Deepali Bhargava and Lynn Song project India’s consumer inflation to edge up to 4.2% year-on-year in June, while wholesale inflation moderates to 9%.
Qatar launches mediation effort with Iran to ease tensions over Strait of Hormuz
Qatar has dispatched negotiators to Iran for meetings with Iranian officials in a renewed diplomatic effort to de-escalate tensions and create conditions for broader negotiations to continue, according to a Reuters report citing a source familiar with the matter.
WTI price holds near $72 amid hopes of US-Iran de-escalation
West Texas Intermediate (WTI) Oil trades around $72 at the time of writing on Friday, up 0.42% on the day, but remains in a consolidation phase after reaching a more than two-week high earlier this week.
IEA confirms: Oil demand to rise by 1.2M bpd YoY in Q4
According to the latest forecast from the International Energy Agency (IEA), the global Oil demand will rise by 1.2 million barrels per day (bpd) Year-on-Year (YoY) in the last quarter of this year.
WTI rally takes a timeout amid signs of US-Iran war de-escalation
West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday.
Oil: Brent retraces gains on fragile ceasefire – Rabobank
Rabobank strategist Molly Schwartz notes that Brent Oil traffic through the Strait of Hormuz remains constrained despite a nominal ceasefire between the US and Iran. War insurance costs have risen sharply and shipowners are being advised to pause Hormuz voyages.
Silver Price Forecast: XAG/USD rises as oil prices correct, US Dollar faces pressure
Silver price (XAG/USD) trades 0.4% higher to near $60.22 during the European trading session on Friday. The white metal gains as the US Dollar (USD) continues to remain under pressure amid hopes that the restart of the war between the United States (US) and Iran won’t long last.
Swiss Franc gives back some early gains against US Dollar, US CPI in focus
The Swiss Franc (CHF) pares some of its early gains against the US Dollar (USD) during the early European trading session on Friday. The USD/CHF pair is 0.26% lower at around 0.8048 even after a slight recovery move.
Indian Rupee gives back gains as US Dollar recovers
The Indian Rupee (INR) gives back its early gains against the US Dollar (USD) in India's afternoon trading hours on Friday.
WTI Price Forecast: Retakes $72.00; 23.6% Fibo./200-day EMA holds the key for bulls
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – edges higher during the Asian session on Friday, stalling the previous day's retracement slide from the vicinity of a three-week high.
WTI consolidates below $72.00 as traders monitor geopolitical developments
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.
US official says it remains committed to resolution with Iran, technical discussions ongoing
A US official signaled that it is still committed to the memorandum of understanding with Iran, even though US President Donald Trump’s declared earlier this week that the framework deal to end the Iran war was “over” after Tehran carried out strikes against vessels in the Strait of Hormuz and again
Eurozone: Energy shock keeps pressure on ECB – Nordea
Jan von Gerich highlights that Eurozone inflation risks remain skewed to the upside due to a persistent energy shock linked to Middle East tensions.