Sun, December 04, 2022

Trade War

Wibest – Oil and petroleum: Oil poured out of a container.

Oil and Petroleum Prices Slip on Absent Agreement Details

Without further details or follow-ups on the US-China trade war, oil and petroleum prices decline this Monday. Prices stopped rallying after. Looking at it, the somewhat ceasefire between the feuding giants is what the American economy needs. However, it wasn’t enough to keep prices rallying as traders seek further clarity on the agreement. WTI crude …

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Wibest – Oil Petroleum: Oil spilled.

Trump Agrees to Deal, High Hopes for Oil Petroleum

Oil petroleum traders rejoice as prices rally after Trump agrees to a partial trade deal with Beijing. Bulls advance this Friday, pushing prices to ranges last seen in September. The WTI crude oil contract surged 0.52% or 0.31 points in trading sessions. Prices go forth from their previous close of $59.18 to $59.49. WTI crude …

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The Greenback: US dollar and Australian dollar banknotes.

The Greenback Dives Against the Aussie After RBA Decision

The greenback fell lower against the Australian dollar yesterday after the Reserve Bank of Australia decided to hold rates. Apart from the Aussie’s strength, the is also under pressure from the unsettling factory PMI earlier this week. As projected, the monetary policy committee of the RBA decided to hold on to current rates at 0.75%. …

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Wibest – The Greenback: Different US dollar bills.

The Greenback Struggles to Recover from Weak Economic Data

The greenback fights to recover some of its losses from yesterday’s weak manufacturing data. News from Trump’s new tariff announcement isn’t also making it better for the buck in today’s sessions. Yesterday, the United States Institute for Supply Management released the November factory PMI results. Traders were discouraged as the sector remains in contraction territories …

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Wibest – Spot Gold Price: Gold bars on top or a US dollar bill.

Spot Gold Price Hikes After Trade War News | Wibest

Spot gold price inches up in today’s trading after the news from the trade war revive gold bulls. In the past sessions, the lack of sureness about the direction of the controversial dispute was confusing traders in sessions. Just in, Chinese state-owned media published that Chinese and US diplomats held another phone call. According to …

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Wibest – US China Tariffs: Oil barrel and pumpjack over US dollar bills.

Oil and Gold Prices Tumble from US China Tariffs News

Crude oil and the precious metal gold fell as investors regained confidence from news about US China tariffs. Surprisingly, both commodities fell despite traders hoping that oil prices would rise. Mixed sentiments in the market is arguably the reason for both contrasting items’ fall this Friday’s session. Some traders are seeing more light to the …

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Wibest – Brazilian: Soybeans.

Brazilian Soy Threat US Farm Exports | Wibest Broker

Traders have been rejoicing lately as the trade war between the United States and China starts to ease. However, the trading agreement for US farm goods could be derailed by Brazilian soybeans. The Chinese government and firms are clearing their way to have more room for American agricultural products. Unfortunately, there is one factor that …

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Wibest – Grain Market: Soybeans

Grain Markets React to Trade War News | Wibest

Grain markets and futures went down in trading sessions following US-China trade war news. Corn, rice, and wheat futures all declined on Wednesday’s trading, while the US soybeans contract steadied. The United States corn futures lost 0.58% or 2.26 points in today’s session. A bushel of corn currently trades for $390.62, sliding lower from its …

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Wibest – USD to CNY: USD and CNY bills and coins.

USD to CNY Falls Despite Chinese Data | WibestBroker

The USD to CNY exchange rate fell in today’s sessions as the Chinese yuan strengthened. Both currencies gained against their other pairs in Monday’s trading.   However, when paired together, the greenback didn’t stand a chance against the yuan as the USD to CNY edged lower. Ideally, traders would expect the yuan to lose after …

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Dollar surged forward

US Dollar Bill Weakens After Trump’s Comment

The US dollar bill fell against other major currencies yesterday after Donald Trump’s comment revived trade war hopes. The US dollar index, or DXY, slipped by 0.06%, or 0.06 points, ranging between 98.86 and 99.13 in sessions. And the US dollar futures for December 19 slipped harder, declining 0.12%, or 0.119 points, in Thursday’s trading. …

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Wibest – Petroleum and Oil: A fleet of oil tanker ships in the middle of the sea.

Petroleum and Oil Prices Rise After New US Sanctions

  Petroleum and oil prices went up in sessions after the United States announces new sanctions for Chinese firms. The US imposed new sanctions on Chinese companies for engaging and transacting with Iran. According to reports, Washington claimed that the firms violated the White House’s curbs on Tehran. In a press release, the US Secretary …

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Wibest – BOJ: The headquarters of the Bank of Japan in Tokyo, Japan.

BOJ May Not Budge Even After ECB’s QE | Wibest

Even after the ECB’s massive QE bomb yesterday, the BOJ might hold onto its current monetary policy. The stabilized markets and highly resilient domestic demand in Japan could help the BOJ stand against pressure. Policymakers around the globe, including BOJ’s officials, are scheduled for a meeting next week in the wake of ECB’s quantitative easing. …

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