West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $105.70 per barrel during the Asian hours on Thursday. Crude oil prices climb as a deepening naval blockade of Iranian ports.
Commodities
Silver (XAG/USD) attracts some buyers during the Asian session on Thursday and reverses a part of the previous day's losses to the $70.85 region, or over a three-week low. The white metal climbs further beyond the $72.00 mark in the last hour, though the upside potential seems limited.
Forex
The EUR/USD pair loses ground to near 1.1680 during the early European session on Thursday. The US Dollar (USD) strengthens against the Euro (EUR) after the US Federal Reserve (Fed) left interest rates unchanged.
Mid-Week update for North-American Markets – The FOMC just concluded, and both the US Dollar and Canadian Dollar are bouncing back to some new weekly highs, supported by stable Monetary Policies and stronger Oil prices. Taking a close look at NA index and currency performance combined with a USD/CAD intraday chart to spot what's next for American Markets.
Forex
USD/CAD finished broadly unchanged on Wednesday, slipping less than 0.1% to trade close to 1.3688 after a volatile post-FOMC session.
Indices
Pre-FOMC Major US Indexes update: Wall Street braces for a pivotal 24 hours featuring Powell’s Fed swan song and heavy-hitter tech earnings. As the US-Iran impasse pushes Oil to $105, traders are questioning the market's resilience. Explore our pre-FOMC outlook for the Dow Jones, S&P 500, and Nasdaq.
Forex
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Wednesday, weighed by softer-than-expected Australian inflation data, while fading hopes that the US-Iran war will end anytime soon support the Greenback.
West Texas Intermediate (WTI) Oil is currently trading near $102 per barrel, its highest level in roughly three weeks.
Bank of Canada and USD/CAD update: The Bank of Canada holds rates steady, citing a soft economic outlook based on a $75 oil assumption. With WTI Crude topping $100 and boosting Canada's national income, the BoC may soon pivot hawkish. As USD/CAD rallies to 1.37, explore our two-timeframe technical analysis.
Forex
Deutsche Bank’s Shreyas Gopal and Sanjay Raja note that EUR/GBP continues to trade above levels implied by Bank of England (BoE)-European Central Bank (ECB) rate differentials, leaving a measurable risk premium in the Pound (GBP).
