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Brent oil prices hedged higher during early Wednesday trading
FOREX Brent oil prices hedged higher during early Wednesday trading. The release of US oil inventories data revealed an unexpected decrease of 4.8 million barrels over the course of the previous week. This surprisingly large drawdown overshadowed expectations of a reduction in demand, caused by the reinstating of Covid-related restrictions in China. Another factor also[…]
The US dollar is hedging lower in relation to other major currencies
FOREX The US dollar is hedging lower in relation to other major currencies as the European trading session gets underway, in a move that can be interpreted as a consolidation. Over the previous three sessions, the index that measures the performance of the greenback versus its peers gained more than one percent. These gains[…]
Market sentiment starts a new trading week under pressure
FOREX The US dollar started the trading week on the front foot. Investors reacted to news of fresh Covid-related restrictions in China by seeking refuge in assets such as treasuries and, of course, the dollar. The news arriving from China is worrying investors and is stopping the recent rise in risk appetite in the[…]