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USDCAD Under Pressure After Saudi Arabian Oil Supply Loss

USDCAD Under Pressure After Saudi Arabian Oil Supply Loss

USDCAD trades 0.37% lower at 1.3236 as traders turn their attention to commodity-linked currencies such as the CAD and NOK as crude oil prices trading over 10% higher at %59.90 per barrel. Fifty percent of Saudi Arabia’s output halted on Saturday evening after two oil facilities attacked by drones and [...]
Forex Focus on Oil Prices

Forex Focus on Oil Prices

Good morning. The drone attack on a Saudi Arabia oil facility send oil prices higher as analysts estimate that will reduce 5% world’s oil supply. In European session, USDCHF traders will watch the SNB total sight deposits w.e. 13 September due at 8:00GMT. The Italy August final CPI figures will [...]
S&P 500 Approach Record Highs

S&P 500 Approach Record Highs

Wall Street indices started higher the day with the S&P 500 adding 0.33% at 3,017.90. The Dow Jones trading 0.33% higher at 27,271, while the Nasdaq trading 0.14% higher at 8,205 as US-China trade tensions eased after President Trump announced a 2-week delay in tariff hikes in $250 billion in [...]

Crude Oil Prices Trade Sideways, Watch These Levels

Crude oil prices (West Texas Intermediate) have reverted into their old price range of $50.63 and $58.94 as the markets are projecting that tensions between the US and Iran will be less as President Trump fired his national security adviser John Bolton. According to online reports, there have been many [...]
DAX Index Higher for Eighth Consecutive Session

DAX Index Higher for Eighth Consecutive Session

DAX index continues to make progress for the eighth session in a row adding 0.43% higher at 12,464 after ECB cut its deposit interest rate at -0.50%, and launched a new round of monthly bond purchases. Investors concerns on US-China trade tensions eased after President Trump announced a 2-week delay [...]
EURGBP at 2-Month Lows on Positive Brexit Developments

EURGBP at 2-Month Lows on Positive Brexit Developments

EURGBP gives up 0.76% at 0.8898, making fresh 2-month lows after positive Brexit developments. On the macro front the European Monetary Union Trade Balance n.s.a. came in at €24.8B, topping forecasts of €17.4B in July. The EU Labor Cost rose from previous 2.4% to 2.7% in 2Q On the technical analysis [...]
GBPUSD Breaks Higher on Brexit Optimism

GBPUSD Breaks Higher on Brexit Optimism

GBPUSD continues the rebound from 1.1957 lows from September 3rd, adding as of writing  1.10% at 1.2464 after rumours, indicating that the EU is prepared to grant another Brexit extension to the UK and Boris Johnson will meet with Juncker for Brexit talks next Monday. GBPUSD adds over 140 pips [...]