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The Pound Sterling is set to register the first week of closing in the green, after a slew of “more-positive-than-expected” data readings that have helped dispel the negative post-referendum bias. Despite trading lower on Friday, the British Pound is believed to shake off any fears of further rate cuts from the Bank of England inRead More
Gold proved to be resilient, extending its gains into the third day in a row after a couple of U.S data releases before the market open could not rescue the greenback from trouble that resulted from the minutes of the Federal Reserve’s July meeting, published yesterday. The minutes reported divided opinion among Fed officials overRead More
Oil prices retreated from yesterday’s highs in today’s trading, paring gains from four days of gains in a row after data from the American Petroleum Institute showed an expected builds in petrol and distillates while hopes of output freeze talks faded as Iran expressed no eagerness to join the agreement. The API on Tuesday reportedRead More
GBPUSD snapped its streak of nine consecutive sessions of closing in the red thanks to the slump in the U.S dollar, and strongly positive hard data after the Brexit vote. The Sterling has registered the greatest daily gain since August 02nd following 12-year record inflation growth. This decade high reading released against the back dropRead More
Oil carried forward its bullishness on Monday, extending the winning streak to three consecutive sessions after more and more signs of potential action by global oil producers to reduce output amid concerns over falling demand in 2017 and the comeback of U.S explorers and refiners. Month to date, crude prices have rocketed by more thanRead More
The Week That Was The week through August 12 witnessed some stock markets hitting 17-year highs along with a comeback by the crude price, on a potential freeze deal that could be reached next month, with the prospect of a re-balancing of the crude market. Most global equity markets closed the week in the green,Read More