WTI adds 1% to settle at $69,46 for the day

Saudi Arabia looks to reduce oil output in August. Norway oil workers' strike comes to an end on Thursday. After struggling to stage a decisive recovery during the first half of the week amid rising stocks numbers in the U.S., crude oil prices gained traction on Thursday with the barrel o ...

AUD/USD: Trump rally held up at key 0.7380, external influences at play

AUD/USD has been on a tear on dollar weakness on the back of Trump's interview and dovish comments on CNBC. Trump was calling for the Fed to stop raising rates - AUD/USD has rallied from 0.7322 to 0.7379 on the back of the interview. But, Trump has no legal position to be able t ...

US: Tariffs not enough to change Fed’s stance on inflation – Wells Fargo

Inflation could end up rising more meaningfully if trade barriers continue to arise, warned analysts at Wells Fargo. They noted that tariffs already imposed would increase CPI inflation by a scant 0.1 percentage point.  Key Quotes:  “Trade tensions have been escalating since th ...

EUR/USD soars on Trump’s comments and hits daily highs above 1.1670

US President Trump spoke about concerns from rate hikes and sent US dollar sharply lower.  EUR/USD rebounded sharply from 3-week lows to 2-day highs.  The EUR/USD pair rose from 1.1605 to 1.1677, hitting levels on top of yesterday’s highs. From the top pulled back and at th ...

White House press secretary: Trump respects independence of Fed

During the daily press briefing, White House Press Secretary Sarah Sanders told reporters that President Trump was not interfering with the Federal Reserve's monetary policy decisions and added that Trump respects the independence of the Fed. In an interview with CNBC earlier today, Donal ...

Gold recovers toward $1230 as Trump comments trigger a USD sell-off

Trump voice his concerns about higher interest rates. US Dollar Index falls off a cliff, breaks below 95. Gold turns flat on the day near $1227. The XAU/USD pair staged a strong recovery in the NA session after the USD came under a heavy selling pressure following US President Donald Trum ...

USD/JPY tumbles after Trump’s comments on interest rates, eyes 112.00

US dollar tumbles after US President Trump says he’s not thrilled about interest rate hikes.  USD/JPY losses more than 50 pips in a few minutes and hits fresh 2-day lows.  The USD/JPY pair tumbled during the last minutes falling from 112.80 to 112.05 in a few minutes, hitting ...

US Leading Economic Index signals continued growth – Wells Fargo

The Leading Economic Index increased 0.5% in June, resuming its upward ascent, noted analysts at Wells Fargo. The mentioned that the strength in the underlying components of the index remained broad-based, signaling continued growth in the U.S. economy.  Key Quotes:  “The Leadin ...

GBP/USD technically remains bearish – eyes on 1.2810 – Scotiabank

Analysts at Scotiabank argue that te GBP/USD short-term technicals are bearish. Key Quotes: "Sterling’s slide below 1.30 maintains focus on broader retracement risks and the potential to test retracement support at 1.2810 (61.8% Fibonacci support of the 2016/2018 rally from 1.18/1.44) i ...