The US EIA Crude Oil inventories (for the week ending March 3), that were released yesterday, jumped to a record high of an 8.209 million rise, surpassing expectations of a 1.66 million increase and the previous reading of a 1.501 increase. Oil prices plunged on the release of the figure, spot WTI crude oil price broke short-term support levels at 52…
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USD/JPY hit the lowest level of 111.13 since November 23 this morning, breaking the short term major support line at 111.50. USD/JPY has turned bearish since March 15, saw its longest bearish streak since January. In the past week, USD/JPY has retraced about 3.14%. The plunge was caused by the weake.... More »
The Fed announced a rate hike by 25 basis points yesterday, with rates in a range of 0.75% to 1%, in line with market expectations. Fed Chair Yellen stated that It is appropriate to gradually remove accommodation, as the US economy is going well. The medium projection for the federal funds rate is 1.... More »
Following the release of the US labour market data for February last Friday: Headline non-farm payrolls figure rose by 235K in February, beating expectations of 190K. The previous reading in January was revised upwardly to 238K, from 227K. The unemployment rate dropped slightly to 4.7% in February (.... More »
The date to officially start the Brexit procedure was finally confirmed yesterday. UK Prime Minister, Theresa May, will trigger Article 50 of the Lisbon treaty on Wednesday March 29, starting the 2-year Brexit negotiation process with the EU. The timetable is in line with her plan to begin “divorc.... More »
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