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Oil market set to be in surplus despite OPEC+ action
The global oil market is set to return to surplus in 2025 despite OPEC+ extending supply cuts. This surplus should see prices trending lower next year. However, there are risks. 2025 Oil surplus Oil prices have come under a fair amount of pressure this year, with the market worried about demand and
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USD/JPY: Fed and/or BoJ’s pace slowdown may affect USD/JPY’s moves – OCBC
USD/JPY eased lower this morning after PPI came in higher than expected. Last seen at 151.45 levels, OCBC’s FX analyst Christopher Wong notes. Bias to sell rallies remains on the table “Bearish momentum on daily chart shows signs of fading but rise in RSI slowed. Moving averages compression observed
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EUR/AUD Price Forecast: Climbs to two-day high above 1.6500
EUR/AUD gains 0.67% after RBA holds rates steady, signaling a dovish outlook with easing inflation pressures. Despite gains, potential ECB rate cuts loom, influencing near-term trading dynamics for the cross-pair. Technical levels to watch: Support at 1.6450 and 1.6400, with resistance near the rece
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Small business optimism surges in November
Summary Compensation pressures not helping inflation Small business optimism surged in November alongside a promptly decided election outcome. The headline index soared eight points to 101.7, its highest reading since June 2021. After years of elevated inflation and interest rate hikes, November mar
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WTI remains depressed below $68.50; OPEC+ meeting eyed for fresh impetus
WTI drifts lower for the second successive day, though any meaningful slide seems elusive. Concerns that geopolitical tensions can cause supply disruptions could offer some support. Traders now look to the OPEC+ meeting for some impetus ahead of the key US NFP report. West Texas Intermediate (WTI) U
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Australian Dollar weakens to below 0.6500 amid escalating US-China trade war tensions and USD strength
AUD/USD declined by 0.93% to 0.6453 on Monday. The Aussie remains pressured by US-China trade war concerns and USD strength. Strong US data has also helped the USD over the session. The AUD/USD pair opened the week on a negative note, declining by 0.93% to 0.6455 in Monday's session, snapping a thre
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Pound Sterling loses 1.2700 level against US Dollar after Trump defends USD dominance
The Pound Sterling falls on Monday against the US Dollar after Donald Trump threatened BRICS with 100% tariffs, supporting the Greenback. Trump said he would impose tariffs if the trading group tried to replace the US Dollar with their own reserve currency. Technically, GBP/USD remains in an uptrend
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NZD/USD: NZD is expected to weaken to 0.5770 – UOB Group
Downward momentum is beginning to build; NZD is expected to weaken to 0.5770, UOB Group’s FX analyst Quek Ser Leang and Lee Sue Ann note. NZD is expected to weaken to 0.5770 24-HOUR VIEW: When NZD was at 0.5820 yesterday, we indicated that NZD ‘could drop further, but it does not appear to have enou
Pull-up Update