|Day's Range||0.744 - 0.745|
|52 Week Range||0.7284 - 0.7821|
Crude Prices fall to near $62.35 bbl as OPEC+ members cast contrasting comments over Oil production. Sinking USD Index drags down the Loonie to 10-days low.
UK Inflation and European politics to whipsaw the Pound ahead of the FED monetary policy meeting minutes later today.
Crude Oil WTI Futures continued to climb the ladder amid OPEC-led supply cut fears. PM May stated that she will give MPs last chance to back her “new improvised deal”. EUR/USD pair uplifted on USD plunge.
The Loonie is getting dragged due to rising crude prices. During the Asian session, the pair had attempted to resist the downfall but failed to persist. Traders expect upside on the release of US Housing Data.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
The Safe-haven pair dropped from last week’s high amid positive Japanese data and plunging USD Index. Iran Foreign Minister commented on Trump’s tweets against Iran as “genocidal taunts”.
The Greenback may fall in the near term from its top levels soon as US-Sino trade talks head in the wrong direction. The Canadian economy may benefit from the recent US Aluminum-Steel tariff cuts.
Robust growing USD Index pushed down all its major rivals. Hence, EUR/USD pair plunged despite positive Euro-specific data. Meanwhile, the Cable continued to douse in fall amid Brexit chaos.
Crude Oil WTI Futures remains 3.85% up since Monday opening. Loonie went breakthrough the robust 1.3493 resistance level during the Asian trading session.
A relatively quiet economic calendar leaves Brexit and trade war chatter in focus. Is the trade spat about to get worse and can Theresa May deliver?
Loonie remained seesawed during the day. The Aussie pair continued plunge rally for four days in a row. The Fiber lost hold of its early consolidation mode and slipped to weekly lows near 1.1173 levels.
US President Trump calls-off all its Non-emergency Diplomatic Staffs to leave Iran following multiple attacks on Saudi Oil supplies. USD/CAD pair at its weekly low amid Crude price upsurge.
The Aussie Dollar touches sub-$0.69 as more stats disappoint. Chatter on trade and a sparse economic calendar will be in focus today.
The Greenback slipped drastically over poor US April Retail Sales figures. USD/CNY pair got elevated earlier the day underpinned weaker-than-expected Chinese data.
API Crude Inventory reported higher number than street expectations which erased the crude’s morning gains. However, tensions over Saudi Oil Supply attacks continue to push the prices upwards.
Economic data out of China set the tone early. How much of an impact has the trade war really had on both economies? Are we about to find out?
The Brexit deadlock continued to trouble the Cable. Crude prices jumped for the second time in this week following a drone attack on the Saudi State Oil Company.
The OPEC member, Saudi Arabia, claims that the recent attack on its two oil tanks alarms for supply security concerns. Crude upsurged reaching near $61.11 bbl.
As a response to the recent US additional tariffs, the Chinese today retaliated by imposing tariffs on over $60 Billion of US imports. The investor sentiment dropped.
Saudi Oil Tankers got sabotaged on Sunday developing a threat of supply disruption. Today, the Crude rose by 2% at $62.60/bbl causing increased volatility in Loonie.
Bullish Canadian Employment data made the Loonie drop 0.74% within a matter of minutes. The Fiber attempted to breach the robust 1.1252 levels during the day. UK March YoY GDP was in-line at 0.5%.
The U.S. dollar was mostly unchanged to begin Friday, hours after the U.S. officially increased tariffs on $200 billion worth of Chinese goods.
In the Asian session, the oil prices slightly decreased and helped the pair to climb up. The newly imposed American sanctions on Chinese imports disaffect the pair’s growth.
The Loonie topped reaching 1.3500 levels. China stated readiness over trade tariff hikes, supporting the USD/CNY pair. The USD/NZD took a drop and reached 1.5174 levels.