Global oil stockpiles are falling at a record 8.7 million barrels per day in May as Hormuz flows sit at just 5% of normal levels, Goldman Sachs said, with Brent crude trading near $106, up over 70% this year Summary: Global visible crude and fuel stockpiles have fallen by 8.7 million barrels per day so
The Aussie tried to rally on improving global sentiment. Australia’s economy had other ideas. AUD/USD bounced earlier today as markets reacted positively to signs that Washington and Tehran may be moving closer toward a diplomatic breakthrough. President Donald Trump’s claim that the US was in the “final stages” of negotiations with Iran helped cool fears
Kelvin Wong Senior Market Analyst Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities. Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an
The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. more to come This article was written by Eamonn Sheridan at investinglive.com. Source link
The value of core machinery orders in Japan was down a seasonally adjusted 9.4 percent on month in March, the Cabinet Office said on Thursday – coming in at 1,010.9 billion yen.That missed forecasts for a decline of 7.7 percent after jumping 13.6 percent in February.On a yearly basis, orders added 5.9 percent – beating
Japanese Machinery Orders March 2026 -9.4% m/m expected -8.1% prior 13.6% Japanese Machinery Orders 5.9% y/y — Japanese Balance of Trade April 301.9bn, a massive beat, and exports blowing past forecast expected -29.7bn prior 667.0bn Japanese Imports 9.7% y/y expected 8.3% prior 10.9% Japanese Exports 14.8% y/y Source link
Producer prices in South Korea climbed 2.5 percent on month in April, the Bank of Korea said on Thursday – up from 1.7 percent in March.Individually, prices for agricultural, forestry and marine products slipped 1.0 percent on month, while manufacturing products jumped 4.4 percent, utilities rose 0.3 percent and services added 0.8 percent.On a yearly
Iran’s newly formed Persian Gulf Strait Authority has declared a controlled maritime zone across the Strait of Hormuz, requiring all transit vessels to seek coordination and authorisation before passing through. Summary: Iran’s Persian Gulf Strait Authority announced a controlled maritime zone covering the Strait of Hormuz The zone runs from Kuh-e Mobarak in Iran to
In recent days, Forex Markets have seen a strong increase in activity, moving away from their earlier steady trends. The confirmation of Kevin Warsh as the next Federal Reserve Chair added volatility, but today’s trading is mainly driven by a sharp drop in the US Dollar. Before the recent moves in the US Dollar, Antipodean
The Times is reporting that Labour Wes Streeting is likely to abandon his bid for PM in favor of Andy Burnham if Burnham wins the Makerfield by-election. There is a feeling that no one can beat Andy if he wins the by-election and launches a push to unseat PM Keir Starmer. Although it is not
While the Federal Reserve’s decision to once again leave interest rates unchanged last month was widely anticipated, the vote on the decision and the accompanying statement was unusually divided.The minutes of the Fed’s April 28-29, released Wednesday afternoon, provided some additional details about officials’ mixed views about the outlook for rates.The Fed said participants generally
Elior Manier Market Analyst Elior brings over seven years of experience in financial markets to our analyst team. Since 2018, he has actively engaged in observing, charting, and trading, driven by his passion for mastering market dynamics. With a profound understanding of the geopolitical and macroeconomic forces that shape market movements, Elior focuses on analysing
Iran Foreign Minister is saying: Focus is on ending the war and fulfilling Iran’s clear demands. Tehran’s main focus is ending the war on all fronts including Lebanon, releasing frozen assets,and stopping pressing actions and maritime piracy Despite the negative record, Iran is pursuing the path of negotiations with seriousness in good faith, but is
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The AUDUSD surged sharply higher after headlines crossed that the US and Iran are in the final stages of talks, helping fuel a broader risk-on move and weighing on the US dollar. Among the major currency pairs, the AUDUSD is the strongest performer today, up around 0.76%. The rally pushed the pair to a session
Elior Manier Market Analyst Elior brings over seven years of experience in financial markets to our analyst team. Since 2018, he has actively engaged in observing, charting, and trading, driven by his passion for mastering market dynamics. With a profound understanding of the geopolitical and macroeconomic forces that shape market movements, Elior focuses on analysing
Risk sentiment stabilized somewhat today as Brent crude eased back below $109 and US equity futures pointed to a modest recovery at the open. Still, the broader market mood remains tense as investors continue grappling with elevated global bond yields and persistent uncertainty surrounding the Middle East conflict. While oil prices stepped back temporarily, Treasury
