Saudi Arabia is one of the largest oil producing regions in the world, accounting for 16% of the world’s proven petroleum reserves. As of 2015, crude accounted for roughly 80% of government revenues, 45% of GDP, and 90% of earnings
As expected, at least based on its less informative press release, the ECB remains in “wait and see” mode by keeping all three interest rates unchanged. The ECB also said that on 8 June the Eurosystem will start making purchases
AUD/USD. The pair was seen reversing its Wednesday losses during Thursday trading session today. This development has left AUD/USD targeting further downside pressure. On the downside, support resides at the 0.7200 level where a breach will aim at the 0.7150
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM16 -0.11%) are down -0.07% and European stocks are up +0.30% ahead of today’s ECB interest rate decision. No change in interest rates or additional stimulus is expected, although ECB President Draghi will unveil the ECB’s
A better-than-expected first-quarter GDP estimate and U.S. dollar strength led the Fed Chair Janet Yellen to signal an imminent interest rate hike. However, a strengthening U.S. dollar might halt the bullish run of the S&P 500 (SPY) as it could
from Challenger Gray and Christmas The number of job cuts announced by U.S.-based employers fell sharply in May, with a total of 30,157 planned workforce reductions recorded during the month. The May total was 53 percent lower than the 64,141
The US dollar remains under pressure. It is off for the third day against the yen and slipped below JPY109 for the first time in a little more than two weeks. The Nikkei struggled to cope with the foreign exchange developments,
There are just two drivers setting the pace for today’s risk mood: the OPEC meeting in Vienna which started a few hours ago, and the ECB’s announcement as well as Mario Draghi’s press statement due out just one hour from
WTI Crude Oil The WTI Crude Oil market initially fell on Wednesday but turned right back around to form a bit of a hammer. That of course is a very bullish sign, and I think that it shows that we
How can you invest for retirement in a low-interest rate environment? One answer is to invest in bonds. Learn why many retirees choose to invest in bonds, what the risks are, and how to buy them. Investing in a bond