Source: Bureau of Economic Analysis U.S narrowed its international trade deficit to $68.9 billion in April, from $75 billion in March. DXY reacts to news +0.10%, SPY sheds -0.11%. U.S exports in April jumped by $2.3 billion from March to reach $205.0 billion. Imports in April slipped by $3.8 billion from March to $273.9 billion in April. Overall year to date … [Read more...] about U.S Cuts Trade Deficit by $6.1 Billion in April
Forex News
Will Commodity Markets See a Return of $100 Oil? Option Traders Keep Bets
Source. WSJ Owners of $100 options are betting that oil prices will hit $100 a barrel towards the end of the year. CL! is down 0.26%. Having seen oil surge at least 40% this year, the option traders see it gaining momentum as coronavirus restrictions are loosened. A price of $100 in prices will see oil reach a milestone hit in 2014. Analysts have cautioned … [Read more...] about Will Commodity Markets See a Return of $100 Oil? Option Traders Keep Bets
Consumer Borrowing Jumps 5.3% in April, a Third Consecutive Monthly Gain
Source: The Federal Reserve U.S consumer credit rose at an annual rate of 5.3% or $18.6 billion in April. The surge was fueled by strong trends in auto loans and students’ loans. DJI is down 0.36%, SPX is down 0.08%, DXY is up 0.18% Revolving credit, that includes credit cards declined 2.4%, after rising by 1.7% in March Non-revolving credit, consisting of student … [Read more...] about Consumer Borrowing Jumps 5.3% in April, a Third Consecutive Monthly Gain
EUR/USD Outlook Ahead of ECB Decision and US Inflation Data
This week, the EUR/USD will be in the spotlight as investors react to the upcoming EU GDP data, European Central Bank (ECB) decision, and the latest American inflation data. It is trading at 1.2166, almost unchanged from its close on Friday. ECB interest rate decision The ECB will start its monthly meeting on Wednesday and then publish its interest rate decision on … [Read more...] about EUR/USD Outlook Ahead of ECB Decision and US Inflation Data
Push for Renewable-Fuel triggers a Record High Surge in Soyoil Prices
Source: The Wall Street Journal. The growing interest in renewable energy has increased the demand for vegetable-oil supplies, leading to an increase in the prices of soybean oil. The Chicago Board of Trade has recorded a 70% increase in soybean-oil futures. The surge makes soybean oil one of the best-performing commodities over the year.The Department of … [Read more...] about Push for Renewable-Fuel triggers a Record High Surge in Soyoil Prices
