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Australian Dollar sees red ahead of RBA decision

The Australian Dollar (AUD) experienced additional losses against the US Dollar (USD) on Monday as markets gear up for Tuesday's Reserve Bank of Australia (RBA) decision.

Mon, 17 Jun 2024 15:21:41 -0400

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As China's Retail Sales Exceed Estimates

Oil markets gain ground amid improving demand outlook.

Mon, 17 Jun 2024 14:31:43 -0400

Mexican Peso slips due to political uncertainty, sour sentiment

The Mexican Peso traded with minuscule losses against the US Dollar on Monday and is down 0.29% as risk appetite deteriorates based on weak China data and political uncertainty in Europe. The emerging market currency would remain volatile as traders digest the incumbent judiciary reform in September, presented by current President Andres Manuel Lopez Obrador and approved by upcoming President Claudia Sheinbaum.

Mon, 17 Jun 2024 13:29:06 -0400

WSJ Timiraos: See's core PCE falling to 2.6% from 2.8% last

In a tweet (or X), WSJs Timiraos sees core PCE moving to 2.6% from 2.8% last month. 3 month annualized rate dropping back below 3.0% and the 6 month annualized around 3.2% from 3.3% last month.

Mon, 17 Jun 2024 13:01:02 -0400

Canadian Dollar in a holding pattern as markets await meaningful data

The Canadian Dollar (CAD) is trading tightly on Monday, with gains and losses mixed across the board and within a quarter of a percent against most of its major currency peers. Canadian Housing Starts came in better than expected, but prices and activity remain lower in May.

Mon, 17 Jun 2024 12:49:40 -0400

US Dollar rally tempered to start week, gains expected to continue

On Monday, the US Dollar Index (DXY) experienced some pullback but maintained overall strength. Tracking the previous week's performance, the DXY was influenced by the hawkish Federal Reserve (Fed) and the risk-off impulses from Europe.

Mon, 17 Jun 2024 12:49:03 -0400

RBA Update: Central Bank Poised to Hold Cash Rate at 12-Year Peak

The RBA will not likely adjust the OCR at tomorrow's meeting and should maintain a moderately hawkish vibe.

Mon, 17 Jun 2024 11:57:00 -0400

Crude oil forecast: WTI breaks out

Despite weaker-than-expected industrial data from China overnight, which should have raised concerns about demand, crude oil prices have rallied more than 1.5% today, building on the 3.5% to 4.0% increase from the previous week. Investors have ignored the weaker-than-expected 5.6% y/y rise in Chinese industrial output and news oil refining fell to the lowest rate this year after more plants shut for maintenance.

Mon, 17 Jun 2024 11:57:00 -0400

USD stands strong amid increasing net long positions – Rabobank

The US Dollar (USD) and the Pound Sterling (GBP) gain momentum while the Euro (EUR) and the Japanese Yen (JPY) lose track, strategists at Rabobank note.

Mon, 17 Jun 2024 11:51:45 -0400

Japanese Yen weakens against USD amid tepid real wages, imported inflation

The Japanese Yen (JPY) trades lower by about a third of a percent against the US Dollar (USD), in the 157.80s on Monday, as the outlook for interest rates in the US remains elevated despite lower inflation and economic sentiment readings. The expectation of higher interest rates supports the USD by attracting greater inflows of foreign capital.

Mon, 17 Jun 2024 11:51:09 -0400

EUR keeps afloat amid ECB comments – Scotiabank

European Central Bank (ECB) policymakers indicated that the French situation is “contained”, allowing the Euro (EUR) to float above 1.07, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Mon, 17 Jun 2024 11:49:01 -0400

Euro Steadies After Market Jitters Subside

France's financial markets took a tumble late last week, as investors are nervous about the snap parliamentary election at the end of June. There are fears that the extreme right could make strong gains, as was the case in the recent European Union parliamentary elections.

Mon, 17 Jun 2024 11:48:18 -0400

USD wins when carry meets politics – TDS

Global carry trade withers away leaving markets cling to the US Dollar as the best hedge to rising risks, TDS strategists note.

Mon, 17 Jun 2024 11:25:05 -0400

US core services inflation remains above 5% for 24th consecutive month – NBC

Global financial markets cheered last week's weaker-than-expected US CPI data for May, with both the headline (+0.0%) and core (+0.2%) measures coming in a tick below consensus expectations, National Bank of Canada (NBC) strategists Stéfane Marion and Jocelyn Paquet note.

Mon, 17 Jun 2024 11:09:56 -0400

Post-OPEC+ oil price recovery fades away – TDS

Crude Oil's recovery could start to fade as upside momentum eases, TDS Senior Commodity Strategist Ryan McKay notes.

Mon, 17 Jun 2024 10:55:58 -0400

Natural Gas Price Forecast – Natural Gas Continues to Look Noisy

The natural gas markets are choppy again in the early hours of Monday, as the markets are trying to do everything they can to sort out all of this recent inflows. The heatwave in the US should be dying off in about a week, so things could get interesting to

Mon, 17 Jun 2024 10:44:06 -0400

Crude Oil Price Forecast – Crude Oil Continues to Look Strong Overall

The crude oil market bounced a bit in the early hours of Monday, as the market continues to see plenty of reasons for a potential rally. This time of year, is typically bullish, and the geopolitics of the Middle Erast is almost always a potential bullish factor as well.

Mon, 17 Jun 2024 10:34:29 -0400

Copper and Aluminum set to slide on short-term – TDS

The industrial metals continue their descent from their recent euphoric highs, Ryan McKay, Senior Commodity Strategist at TDS, notes.

Mon, 17 Jun 2024 09:42:40 -0400

Natural Gas News: Futures Slide as Production Rises

Despite extremely hot weather and high demand, natural gas futures remain bearish due to ample storage, rising production, and MVP's active status.

Mon, 17 Jun 2024 09:41:14 -0400

S&P500 Forecast: SPX muted ahead of Fed speakers & retail sales later in the week

U.S. stocks are heading for a muted start as the dust settles on last week's inflation data and Federal Reserve interest rate decision. Today is a quiet day for economic data, so the focus will be on Federal Reserve policymakers, who could shed more light on when the central bank is likely to start cutting interest rates.

Mon, 17 Jun 2024 09:20:00 -0400

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