Market News - Gold, Oil & Forex

China’s crude oil imports could remain permanently depressed, energy analysts have predicted, citing demand destruction resulting from the electrification of transport in the world’s largest oil importer. “Consumer behavior can be a bit sticky,” according to Lin Ye, vice president of oil markets at consultancy Rystad Energy, as quoted by Bloomberg. “For those who shifted to electric cars during the war, there might be little reason to switch back unless fuel prices become substantially...

Gold starts the week near 4,150 USD per troy ounce, its lowest level since 11 June. The precious metal has recorded a third consecutive weekly decline amid a stronger US dollar and growing expectations that the Federal Reserve may continue tightening monetary policy. The US currency refreshed its yearly high after the Federal Reserve’s June […] The post Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? appeared first on ActionForex.

Following a period of heightened volatility in early June, investor attention in Ethereum has once again shifted towards institutional demand and the development of the spot ETF market in the United States. The funds launched last year continue to serve as one of the key channels for capital inflows into digital assets, while their daily […] The post Ethereum: Market Assesses the Strength of the Corrective Recovery appeared first on ActionForex.

Markets European bonds sold off in a Friday session stripped of US investors (Juneteenth). German bunds immediately opened weaker, responding at a $3 price rise in oil that happened after European closing hours the day before. While front end yields afterwards more or less traded sideways, the long end extended declines throughout the day. (Inflation) […] The post Sunrise Market Commentary appeared first on ActionForex.

In focus today In the euro area, the flash consumer confidence for June is released. The survey period is likely 1-21 June so the US-Iran deal and subsequent drop in the oil price might not fully be reflected in the data. In Denmark, focus will be on the June consumer confidence indicator. Like with euro […] The post Oil Eases as US and Iran Agree 60-Day Roadmap in Switzerland appeared first on ActionForex.

Qatar is calling back empty LNG carriers in preparation for the restart of exports despite ongoing repairs at the Ras Laffan complex, and an explosion that rocked the facility on Sunday. Three carriers for liquefied gas owned by QatarEnergy are heading towards the entrance to the Strait of Hormuz from the Gulf of Oman, Bloomberg reported, citing shipping data. The data also showed another five Qatari-linked LNG tankers near the Omani coast, and a few more that are on their way home. Qatar has...

Two reports. Forty-eight hours. One question. Is the RBA done hiking, or is one final move still waiting in August? Australia’s inflation report on Wednesday and employment data on Thursday could provide the clearest answer yet. After three consecutive rate hikes earlier this year, the RBA hit pause in June at 4.35%. But that pause […] The post Inflation, Jobs and 0.7000: A Defining Week for RBA and AUD/USD appeared first on ActionForex.

Key Highlights EUR/USD extended losses and tested the 1.1420 support. A few hurdles are forming near 1.1500 and 1.1525 on the 4-hour chart. GBP/USD moved into a negative zone below 1.3300. Gold prices struggled near $4,380 and trimmed most gains. EUR/USD Technical Analysis The Euro faced an increase in selling below 1.1550 against the US […] The post EUR/USD Finds Relief, but Gains May Be Narrow appeared first on ActionForex.

Before weekly trading began, markets reacted to the announcement that the U.S. and Iran had reached a framework deal to end the conflict. The reopening of the Strait of Hormuz and the easing of sanctions, allowing Iran to resume oil exports, pushed WTI sharply lower at the start of the week and helped lift equity […] The post USD/JPY Breaks Above 161 After FOMC While Wti Crude Oil Falls appeared first on ActionForex.

Two and a half years ago, NVIDIA was a $300 billion gaming chip company. Today it's the most valuable company in history at over $4 trillion. Investors who saw what was coming and got positioned early made generational money. A $10,000 stake in NVIDIA at the start of 2023 is worth more than $130,000 today. The trade looks obvious in hindsight, but very few investors caught it in real time. Demand for AI compute had exploded, the supply of high-end chips couldn't catch up, and NVIDIA happened to...