Oil steady ahead of US inflation data and OPEC market report
Oil prices held steady on Tuesday as investors awaited key economic data from the United States and a crucial market report from OPEC. Brent crude futures were trading at $86.50 per barrel, while West Texas Intermediate (WTI) stood at $81.50. The market remains cautious ahead of the US inflation data, which could provide fresh insights […]
Emerging stocks fall, currencies edge higher ahead of US CPI
Emerging market stocks dropped sharply on Tuesday, as investors turned cautious ahead of the highly anticipated US inflation report. Despite this, many currencies across the globe saw slight gains, with the dollar trading in a narrow range. The risk-off sentiment was driven by concerns that the upcoming US Consumer Price Index (CPI) could impact Federal […]
ETFs now hold more bitcoin than ‘founder’ Satoshi
The rise of Bitcoin ETFs has marked a historic shift in the cryptocurrency landscape, with these funds now holding more Bitcoin than its enigmatic creator, Satoshi Nakamoto. According to recent data, ETFs collectively control 1.5 million Bitcoin, eclipsing the estimated 1.1 million Bitcoin attributed to Nakamoto’s original holdings. This milestone reflects growing institutional adoption and […]
Gold price extends corrective slide from over two-week top; focus remains on US CPI report
Gold prices continue to retreat from their recent highs, maintaining a downward trajectory as traders await the latest U.S. consumer price index (CPI) data. The precious metal had reached a two-week peak earlier this week, but the rally was short-lived, giving way to the current correction. The focus is now on the U.S. CPI, which […]
USD/INR trades flat amid likely RBI’s intervention
The Indian rupee (INR) held steady against the U.S. dollar (USD) in early trading on Tuesday, with the exchange rate largely unchanged. Market participants are closely watching the Reserve Bank of India (RBI) for signs of intervention to prevent excessive volatility. The pair was seen at 83.10, a marginal shift from the previous day, as […]
EUR/USD stays below 1.0550 as traders exercise caution ahead of the US CPI
The EUR/USD currency pair is trading below the 1.0550 mark on Tuesday, with traders adopting a cautious stance ahead of the release of key U.S. inflation data. Market participants are bracing for the U.S. Consumer Price Index (CPI) report, which is set to provide fresh insights into the Federal Reserve’s potential interest rate moves. As […]
US dollar rises, Aussie drops after Chinese trade data
The US dollar advanced on Tuesday, driven by increased demand for safe-haven assets following disappointing trade data from China, which showed a steeper-than-expected decline in both imports and exports. The greenback saw gains across major currency pairs, with the dollar index rising by 0.3%, reflecting investor concerns about global growth amid continued signs of weakness […]
Australian Dollar remains quite due to thin trading, US inflation awaited
The Australian dollar showed limited movement in early trading on Monday as investors adopted a cautious stance ahead of critical US inflation data expected later this week. The currency traded near $0.66, reflecting subdued activity in the market amid a lack of fresh catalysts. Thin trading volumes characterized the day as market participants awaited Wednesday’s […]
Party City mulling second bankruptcy filing, Bloomberg reports
Party City is reportedly exploring a second bankruptcy filing, according to Bloomberg, as the retailer continues to face financial pressure. The party supply giant, which first declared bankruptcy in January 2023, has struggled to regain footing despite restructuring efforts. Persistent debt challenges and a declining demand for its products are forcing the company to evaluate […]
Oil market set to be in surplus despite OPEC+ action
The global oil market is expected to be in surplus, even as OPEC+ takes action to balance supply and demand. Analysts suggest that the group’s production cuts may not be sufficient to offset the rising output from non-OPEC producers. Despite OPEC+’s efforts to stabilize prices, increased production from countries like the United States and Brazil […]