WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production
WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.35 on Tuesday, continuing its rally as Hurricane Francine impacts oil production in the US Gulf of Mexico. The storm has caused significant disruptions, with the US Bureau of Safety and Environmental Enforcement (BSEE) reporting on Monday that roughly 12% of crude oil production and 16% of natural gas output in the Gulf […]
Japanese Yen Consolidates as US Dollar Holds Firm Amid Rising Treasury Yields
Japanese Yen Consolidates as US Dollar Holds Firm Amid Rising Treasury Yields The Japanese Yen (JPY) remained steady against the US Dollar (USD) on Tuesday, supported by the hawkish outlook on the Bank of Japan’s (BoJ) interest rate policy. Traders are cautiously awaiting the BoJ’s policy decision on Friday, expecting rates to remain unchanged but with the possibility of hikes in October and December. Japanese Finance Minister Shunichi Suzuki emphasized on Tuesday that rapid foreign […]
GBP/USD Consolidates Near 1.3200, Eyes US Retail Sales for Short-Term Direction
GBP/USD Consolidates Near 1.3200, Eyes US Retail Sales for Short-Term Direction The GBP/USD pair is trading within a tight range slightly above the 1.3200 mark during the Asian session on Tuesday, consolidating the strong gains from the previous day, which pushed it to a one-week high. Investors are cautious ahead of key central bank events: the Federal Open Market Committee (FOMC) meeting starting on Tuesday and the Bank of England (BoE) policy announcement on Thursday. […]