The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on Tuesday, September 9. The preliminary revision will cover the 12-month period through March 2025 before the final benchmark revision is reported within the employment report of February 2026. "Official establishment survey estimates are not updated based on this preliminary benchmark revision. The final benchmark revision will be incorporated into official estimates with the publication of the January 2026 Employment Situation news release in...
The GBP/USD pair edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area. Spot prices currently trade around the 1.2935 region, though the downtick lacks bearish conviction as traders keenly await the release of the US consumer inflation figures before placing fresh directional bets. The US Consumer Price Index (CPI) report will play a key role in influencing market expectations about the Federal Reserve's (Fed) rate-cut path, which, in turn, will drive the US Dollar (USD) demand and provide...
Gold steadied above $2,910 per ounce on Wednesday, holding a 1% gain from the previous session, sustained by its safe-haven appeal and weaker US dollar. On Tuesday, President Donald Trump walked back his trade-war threat against Ontario, hours after vowing to double tariffs on Canadian steel and aluminum to 50%, while Ontario Premier Doug Ford temporarily suspended a planned 25% surcharge on US electricity exports. The ongoing global trade uncertainties, combined with heightened concerns over a US tariff-induced recession, continued to drive investors toward safety assets. However,...
Brent crude oil futures extended gains toward $70 per barrel on Wednesday, supported by a weaker US dollar and reduced global oversupply forecasts. The US joined other agencies in lowering projections, with the IEA cutting its 2025 surplus forecast and halving its next year's glut projection due to potential declines in Iranian and Venezuelan flows. The EIA's monthly report also projected a decline in global oil inventories in Q2 2025. However, prices remained relatively near multi-year lows, pressured by erratic US trade shifts that prolonged risk-asset declines, along with concerns that a...
Oil extended a gain as the US cut its forecast for an oversupply, following similar moves by other market watchers including the International Energy Agency. West Texas Intermediate rose toward $67 a barrel after a modest gain on Tuesday, with Brent crude closing below $70. The Energy Information Administration slashed its prediction for a global surplus for this year and halved its outlook for a glut in 2026, citing the prospect of diminished flows from Iran and Venezuela. Elsewhere, the industry-funded American Petroleum Institute reported that US...
Gold edges higher in early Asian session, supported by fears of a global economic slowdown that could be spurred by tariffs. President Trump on Tuesday threatened to double tariffs on Canadian metals, but later rescinded the threat after Ontario province backed off of a surcharge on U.S.-bound electricity. There are growing worries over a potential economic slowdown in the U.S., FlowCommunity's Ruben Ferreira says in an email. Markets are awaiting U.S. inflation data this week, where any softer-than-expected figures might prompt the Fed to adopt a more dovish tone and consider cutting...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...