Tue, June 18, 2024

Middle East

Mobile Internet in African Countries

Cobalt Market Dynamics: Africa’s 80% Share and US Policy Impact

Quick Look: Dominant Production Region: Africa, especially the DRC, contributes 71% of the global cobalt supply. Report Insights: Maximize Market Research forecast trends to 2030 using SWOT, PESTLE, and Porter’s Five Forces. Industrial Uses: Cobalt is vital in airbags, chemical catalysts, cutting tools, and superalloys. US Policy Impact: Sanctions on Dan Gertler highlight efforts to …

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The role of OPEC in the modern world

OPEC+ Extends Cuts to 2025: 3.9M Barrels/Day Reduced

Quick Look: OPEC+ extends crude production cuts to 2025, with significant reductions to stabilize market prices. Unity was emphasized at the June 2 meeting in Riyadh; next meeting scheduled for December 1. Varied demand forecasts, with OPEC predicting a 2.25 million barrels/day increase and IEA predicting 1.06 million barrels/day. The Organisation of the Petroleum Exporting …

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Washington: Swiss franc bills. USD/CHF

USD/CHF at 0.9150 Amid Fed Signals and Middle East Risks

Quick Look: USD/CHF at 0.9150, supported by hawkish Fed signals and strong US economic data. The market anticipates Fed rate cuts starting in September, with a 53% chance noted. Durable goods orders were up by 0.7% in April, Consumer Sentiment Index rose to 69.1 in May. The USD/CHF currency pair is currently trading at 0.9150. …

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Electric Car, Software, automobiles, automakers, bugs, xpeng

China’s Xpeng AeroHT Aims to Deliver Flying Cars by 2026

 Quick Look: Xpeng AeroHT aims to deliver its first flying car by 2026, targeting the eVTOL market. The car is under certification in China and will soon be available for pre-order. The expected price is 1 million yuan, with plans for mass production to reduce costs. Xpeng AeroHT has announced its intention to deliver its …

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natural gas

Natural Gas Prices Climb Amid Geopolitical Tensions

Quick Look: Natural gas trends bullish at $2.01; potential resistance up to $2.22, guided by EMAs. Prices rise amid Middle East tensions and tight supply forecasts. EU sanctions on Russian LNG cut dependency but incur high costs. The natural gas market has exhibited signs of resilience, with prices nudging upward in Asian markets as of …

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Spectacular weekly rise in Silver Price

Silver Prices Struggle Amid Market Volatility, Down 1.27%

Quick Look: Silver (XAG) prices dropped sharply to $26.85, down 1.27%. Technical indicators suggest a possible further decline to $26. Market influenced by global events and potential US rate cuts. Silver prices continue to face significant pressure in an increasingly volatile market environment. The precious metal experienced a sharp drop in early trading on Monday, …

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Stocks and trade deal, dow jones

Market Watch: Awaiting Earnings and Economic Updates

Quick Look: Dow Jones, S&P 500, and Nasdaq 100 futures show little change as investors wait for key events. Notable movements include Nvidia’s 4.4% rise and Cadence Design Systems’ 9% drop, highlighting tech sector volatility. Upcoming earnings from Microsoft, Boeing, and Tesla, plus Q1 GDP data and inflation measures, could drive market direction. In the …

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usd/chf Franc: New Swiss franc bills.

Economic and Geopolitical Dynamics Drive USD/CHF Shifts

Quick Look: USD/CHF technical levels support at 0.9075, with key resistance at 0.9243 marked by SMA hurdles. Surpassed several technical barriers since early 2024, signalling a robust reversal pattern. Influenced by events like Israel’s drone attack on Iran and upcoming US economic data releases. The USD/CHF pair has captured the attention of investors as it …

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Wibest – the aud: Austalian dollar bills.

AUD/USD: Critical Events to Drive Weekly Dynamics

Quick Look: The People’s Bank of China will likely maintain key rates; any changes could influence AUD significantly.  AUD/USD shows bearish trends; key resistance is $0.64582, and support is $0.62713. Australian and US inflation figures due this week could heavily impact market expectations and Fed rate decisions. This week, financial markets are at the edge …

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Oil

Crude Oil Market Volatility Amidst New Sanctions

Quick Look: New sanctions targeting Venezuela’s crude oil sector affect US Gulf Coast supply as Mexico also cuts exports. US spares Iran’s oil industry, focusing sanctions on UAV production; geopolitical tensions could escalate oil prices. A minor increase in Brent and US crude oil prices despite a significant rise in US crude inventories. This Thursday, …

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Wibest – NZD USD: A close up of a New Zealand dollar coin.

NZD/USD Struggles at Key Resistance Levels

Quick Look: NZD/USD stalled at 0.5920 and faces resistance at 0.5940 with further hurdles at 0.6100, 0.6135, and 0.6160. Positioned below 200-hour EMA of 0.5950; RSI below 60, suggesting potential upward movement.  Cautious investor sentiment due to US inflation, geopolitical tensions, and high US interest rates. The New Zealand Dollar (NZD) is presently encountering a slight …

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IMF Forecasts 3.2% Global Growth in 2024

Quick Look:  IMF revises the 2024 global growth forecast by 0.1%, maintaining a stable outlook amidst global challenges. Advanced economies like the US and the Eurozone show positive indicators, surpassing pre-COVID levels. Geopolitical tensions, inflation risks, and differing central bank approaches threaten forecasted growth despite potential economic drivers. The IMF emphasizes urgent reforms for sustained …

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Five superpowers ruling the world

2023/24 Global Economy: 3% Growth Amidst Conflict

Quick Look: Global Growth Projections: IMF predicts growth of 3% in 2023 and 2.9% in 2024. Geopolitical Tensions: Ongoing conflict in the Middle East escalates oil prices. Inflation Concerns: High inflation rates prompt fears of continued tight monetary policy. Energy Sector Outlook: Predictions of oil prices reaching $100 per barrel. BP’s Strategic Moves: BP aims …

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