Category: Cuts
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OPEC+ likely to extend production cuts in June, Goldman Sachs says (NYSEARCA:USO)
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Slavko Sereda/iStock via Getty Images Crude oil futures added modestly to gains from the previous session on Thursday that followed an unexpected decline in US inventories. A 1.4 million barrel drop in US crude inventories in the week ending May 3Supported the market After a month Joseph Dahria, Director of…
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Brazil’s central bank cuts its rate by 25bp
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Decision of the Monetary Policy Committee of the Central Bank of Brazil (Copom): 5 COBOOM members voted in favor of a 25 basis point reduction, and 4 members voted in favor of a 50 basis point reduction. The Committee unanimously considers that the uncertain global scenario and the domestic scenario,…
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Asia FX weakens, dollar firms as markets rethink rate cuts By Investing.com
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Investing.com — Most Asian currencies fell on Wednesday, while the dollar rose on comments from Federal Reserve officials that made markets rethink their expectations for a U.S. interest rate cut. The Japanese yen’s performance remained weak among its peers, falling against the dollar even as government officials continued their warnings…
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US stock futures rise as weak payrolls put rate cuts back on the menu By Investing.com
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Investing.com — U.S. stock index futures rose in afternoon trade on Sunday, following a strong session on Wall Street after weaker-than-expected labor data increased investors’ bets on a September interest rate cut. Some strong earnings also boosted sentiment, especially those from iPhone maker Apple, which reported a smaller-than-expected decline in…
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JP Morgan trim back estimates for ECB rate cuts in 2024 to 75bp, from 100 previously
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or all…
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OECD cuts Israel’s growth forecast
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The Organization for Economic Cooperation and Development says the Israeli economy will grow by 1.9% in 2024 and 4.6% in 2025 in its latest report on the global economy. Before the war, the OECD forecast economic growth of 3.3% this year in Israel. The OECD’s latest forecast is lower than…
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Oil adds to week’s sharp loss as rollover of OPEC output cuts may meet resistance
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Slavko Sereda/iStock via Getty Images Oil prices recorded their biggest weekly loss in three months, as the market, already concerned about weak demand, dealt with growing speculation that an OPEC meeting in June could expose cracks in the alliance, with the United Arab Emirates saying it would… Increasing production capacity.…