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In order to support crude oil price, Kuwait implemented an agreement between oil exporting countries to cut production on Monday. As another major producer of crude oil, Russia also indicated the willingness to fulfil the agreement with OPEC+ to reduce oil output to defend the oil market. WTI Crude

Gold prices surged as Trump signals US-China trade war escalation. In the early morning on Friday, Gold price fell from 1449.11 to 1430. After the US Non-farm payroll figure of 164K released last Friday, the Gold price rebounded more than 15 dollars, and finally oscillated at around 1,440.13. As the

The highly concerned Fed rate cuts decision has been announced. The Fed cut interest rates by 25 basis points as the market expected. This is the first time the Fed has cut interest rates in 10 years. Chairman Powell released the neutral tone to state that this decision is just to deal with the glob

On Monday, GBPUSD continued its plunge and dropped 1.28% to 1.2218 as the new British Prime Minister Johnson said that the UK was still likely to reach a Brexit agreement and issued a hard-line Brexit remark. The US Dollar Index dropped 0.08% to 97.64 and now approaching multi-year inflection slope

U.S. GDP expanded at a 2.1% annualised pace in Q2, which exceeded the estimates of 1.8%. The Dollar Index climbed 0.22% higher to the 97.74. Gold prices edged 0.25% higher to 1418.32 and recovered a part of the previous session's sharp intraday slide to over one-week lows. The U.S. benchmarks on Fri

The ECB decided that the interest rate will remain unchanged. EURUSD raised first as the ECB hinted this monetary policy. Mario Draghi delivered his remarks on monetary policy outlook but didn’t discuss about rate cuts during the press conference, which confused the market and affected the market co

Early on Wednesday, oil price climbed after EIA reported a nearly 11 million-barrel fall in weekly crude supplies. Then NYMEX's most active WTI futures achieved a total of 2.543 billion US dollars trading volume. WTI price dropped 2.37% to 55.73. Brent price fell 1.62% to 63.31. Cabinet restr

Boris Johnson won 66% of the votes yesterday and became the next UK prime minister as widely expected. He insisted he would “get Brexit done by 31 October”. The market didn’t have much reaction to this result, GBPUSD fall 0.23%. There was a rebound in oil price because the US API crude oil inventory

There was no significant movement on Monday. The USDCAD movement was relatively large due to the dropping monthly Wholesale Trend released by Canada. The forecasted Canadian sales rate was 0.8% and the actual rate was -1.8%. As the market increased the bet on “no-deal Brexit”, GBPUSD continued to de

Last Friday, the DOW 30 and S&P 500 dropped 0.76% and 1.06% respectively. The mainstream of the market is still focusing on the rate cuts. The intension of Fed’s rate cuts bets was reducing after FOMC member Williams’s speech last week. The US president Trump sent tweets on Friday to express his

The US dollar index fall 0.52% to 96.34. Major G10 currencies to USD increased: AUDUSD raised the most at 0.95%, EURUSD raised 0.47%, GBPUSD raised 0.94%, and NZDUSD raised 0.84%. Gold price reached 1448.05 and closed at 1446.29 yesterday. This was the highest level since June 2013. The crude oil pr

Tuesday, the relationship between the United States and Iraq has been made a huge progress. Both parties were open to negotiate and express willingness to end the tension. This signal reduced the market worries about crude oil supply and resulted in a falling oil price. WTI and BRENT dropped 3.06% a

On Monday, the Empire State Manufacturing index raised up to 4.3, much better than the previous value of -8.6. And this unexpected rise indicates that the US economic condition is healthy, many businesses are active and positively stimulate the market. The oil price benefited from this and WTI once

Last week, Fed Chairman Powell’s testimony and the latest FOMC Meeting Minutes helped market for the highly expected interest rate cut at the end of July. Moreover, it is reasonable to cut interest rate when the US inflation rate continued to be low. The smooth CPI and PPI data was mostly in line wi