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Indian Rupee attracts slight bids on RBIâs possible intervention
The Indian Rupee (INR) trades marginally higher against the US Dollar (USD) on Thursday on possible Reserve Bank of India (RBI) intervention in spot and non-deliverable forwards (NDFs) markets to support the currency.
WTI Price Forecast: Tests 6-week highs near $87.50, while bearish bias holds below 100-day SMA
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $87.50 during the early European trading hours on Thursday.
Swiss Franc snaps three-day losing streak against US Dollar, outlook remains fragile
The Swiss Franc (CHF) gains ground against the US Dollar (USD) after a three-day losing streak on Thursday. The USD/CHF pair corrects to near 0.8136 after struggling to extend the advance beyond the yearly high at around 0.8152.
WTI climbs above $87.00 as Middle East conflict threatens key choke points
West Texas Intermediate (WTI) oil price extends gains for the fifth consecutive day, trading around $87.30 per barrel during the Asian hours on Thursday. Crude oil prices surged as escalating Middle East tensions stoked fears of widespread supply disruptions.
Yemenâs Houthis say they targeted two Saudi oil tankers
The Houthis, the Iran-backed group in Yemen, on Thursday claimed an attack on two Saudi oil tankers transiting through the Red Sea, identified as ENCELA and LAYLIA, saying the vessels violated âthe ânaval blockade imposed âby the group on Monday, the Guardian reported.Â
Canadian Dollar finds support from rising Oil prices, softer Greenback
USD/CAD edges lower on Wednesday as a mildly softer US Dollar (USD) and rising Oil prices help the Canadian Dollar (CAD) snap a two-day losing streak. At the time of writing, the pair trades around 1.4085, down 0.16% on the day.
Japanese Yen struggles near four-decade lows despite hawkish BoJ signals
The Japanese Yen (JPY) gives up earlier gains on Wednesday, failing to capitalize on hawkish signals from the Bank of Japan (BoJ) and a softer US Dollar (USD) as Middle East tensions keep markets on edge.
United States EIA Crude Oil Stocks Change above expectations (-1.5M) in July 17: Actual (2.011M)
United States EIA Crude Oil Stocks Change above expectations (-1.5M) in July 17: Actual (2.011M)
Trump: 'US will bomb and destroy' Iranian bridges or power plants
US President Donald Trump issued a fresh warning to Iran on Wednesday, threatening strikes on the countryâs infrastructure if Tehran targets vessels in the Strait of Hormuz.
United States Sec. of State Rubio: Iran is in a lot of trouble
Following his meeting with Chinese Foreign Minister Wang Yi in Manila on Wednesday, United States (US) Secretary of State Marco Rubio said that âIran is in a lot of trouble.â
Oil: Supply risks support Brent valuations â ING
ING strategists Warren Patterson and Ewa Manthey highlight growing Oil supply disruptions across the Middle East and Black Sea. They note risks to Saudi crude exports via the Red Sea, renewed Persian Gulf tensions, and halted Kazakhstan flows through Russiaâs CPC terminal.
Australian Dollar weakens as global energy supply disrupts further
The Australian Dollar (AUD) underperforms its major currency peers, trading marginally down at around 0.7000 against the US Dollar (USD) during the European trading session on Wednesday.
WTI Oil hits fresh six-week highs at $86.00 as supply concerns rise
Oil prices continue rallying on Wednesday as hostilities in Iran threaten to escalate out of control, and reports of vessels turning around in the Red Sea heighten concerns about supply disruptions.