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View the daily news commentary to obtain insight on the financial markets.

Oil slips below $80 and snaps winning streak ahead of US session on Wednesday

May 29, 2024, 1:12:08 PM UTC
Oil prices are pulling back and are even falling in the red this Wednesday, despite tensions building up towards the OPEC+ meeting at the beginning of June. Recent reports from Bloomberg Intelligence are pointing to an Oil deficit for the second half of
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Pound Sterling corrects further against US Dollar ahead of US core PCE inflation

May 29, 2024, 1:07:24 PM UTC
The Pound Sterling (GBP) corrects to 1.2740 against the US Dollar (USD) in Wednesday’s American session after posting a fresh 10-week high at 1.2800 on Tuesday.
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United States Redbook Index (YoY) climbed from previous 5.5% to 6.3% in May 24

May 29, 2024, 12:59:45 PM UTC
United States Redbook Index (YoY) climbed from previous 5.5% to 6.3% in May 24
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EUR/USD finds cushion near 1.0830 after sticky German inflation report

May 29, 2024, 12:49:20 PM UTC
EUR/USD finds temporary support near 1.0830 in Wednesday’s New York session.
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US Dollar falls back flat as dust settles on Fed's hawkish comments

May 29, 2024, 12:43:28 PM UTC
The US Dollar (USD) sees its gains dampen a bit with dust settling over comments from the Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari, who spooked markets on Tuesday. Kashkari suggested that a rate hike could still be a
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Gold price falls back amid caution ahead of US core PCE inflation

May 29, 2024, 12:29:56 PM UTC
Gold price (XAU/USD) falls sharply to near $2,340 in Wednesday’s New York session.
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Germany annual CPI inflation rises to 2.4% in May as expected

May 29, 2024, 12:04:50 PM UTC
Inflation in Germany, as measured by the change in the Consumer price Index (CPI), rose to 2.4% on a yearly basis in May, Germany's Destatis reported on Wednesday.
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Germany Harmonized Index of Consumer Prices (YoY) registered at 2.8% above expectations (2.7%) in May

May 29, 2024, 12:00:47 PM UTC
Germany Harmonized Index of Consumer Prices (YoY) registered at 2.8% above expectations (2.7%) in May
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Germany Consumer Price Index (YoY) meets expectations (2.4%) in May

May 29, 2024, 12:00:43 PM UTC
Germany Consumer Price Index (YoY) meets expectations (2.4%) in May
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Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May

May 29, 2024, 12:00:41 PM UTC
Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May
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Germany Consumer Price Index (MoM) came in at 0.1%, below expectations (0.2%) in May

May 29, 2024, 12:00:37 PM UTC
Germany Consumer Price Index (MoM) came in at 0.1%, below expectations (0.2%) in May
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India M3 Money Supply down to 10.9% in May 13 from previous 11.1%

May 29, 2024, 11:59:30 AM UTC
India M3 Money Supply down to 10.9% in May 13 from previous 11.1%
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Japanese Yen appreciates after BoJ Adachi favors to reduce bond-buying

May 29, 2024, 11:09:06 AM UTC
The Japanese Yen (JPY) recovers intraday losses that were influenced by a broad market downturn driven by risk aversion sentiment.
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Australian Dollar depreciates, while US Dollar remains steady ahead of Fed's Beige Book

May 29, 2024, 11:06:02 AM UTC
The Australian Dollar (AUD) pared its daily losses after the higher-than-expected Monthly Consumer Price Index was released on Wednesday.
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EUR/JPY bounces back from 170.00 with German Inflation in focus

May 29, 2024, 11:02:45 AM UTC
The EUR/JPY recovers the dip to near 170.20 that was influenced by Bank of Japan (BoJ) board member Seiji Adachi’s commentary on the monetary policy outlook.
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United States MBA Mortgage Applications fell from previous 1.9% to -5.7% in May 24

May 29, 2024, 11:00:03 AM UTC
United States MBA Mortgage Applications fell from previous 1.9% to -5.7% in May 24
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AUD/JPY weakens below 104.50 as BoJ's Adachi emphasizes reducing bond buying

May 29, 2024, 10:52:23 AM UTC
AUD/JPY halted its three-day winning streak, trading around 104.30 during the European session on Wednesday.
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New Zealand Dollar moves below 0.6150 ahead of Fed's Beige Book

May 29, 2024, 10:06:56 AM UTC
NZD/USD extended losses for the second successive session, trading around 0.6140 during the European hours on Wednesday.
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Portugal Consumer Confidence increased to -18.5 in May from previous -20.4

May 29, 2024, 10:02:14 AM UTC
Portugal Consumer Confidence increased to -18.5 in May from previous -20.4
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Portugal Business Confidence up to 1.9 in May from previous 1.8

May 29, 2024, 10:01:29 AM UTC
Portugal Business Confidence up to 1.9 in May from previous 1.8
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Italy Trade Balance non-EU down to €4.907B in April from previous €5.603B

May 29, 2024, 9:01:52 AM UTC
Italy Trade Balance non-EU down to €4.907B in April from previous €5.603B
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Silver price today: Silver broadly unchanged, according to FXStreet data

May 29, 2024, 8:27:57 AM UTC
Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data.
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India Gold price today: Gold rises, according to MCX data

May 29, 2024, 8:21:16 AM UTC
Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).
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Italy Business Confidence above expectations (88.1) in May: Actual (88.4)

May 29, 2024, 8:02:08 AM UTC
Italy Business Confidence above expectations (88.1) in May: Actual (88.4)
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Eurozone M3 Money Supply (3m): 0.8% (April) vs 0.4%

May 29, 2024, 8:01:45 AM UTC
Eurozone M3 Money Supply (3m): 0.8% (April) vs 0.4%
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Eurozone Private Loans (YoY) registered at 0.2%, below expectations (0.4%) in April

May 29, 2024, 8:01:29 AM UTC
Eurozone Private Loans (YoY) registered at 0.2%, below expectations (0.4%) in April
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Italy Consumer Confidence above forecasts (96) in May: Actual (96.4)

May 29, 2024, 8:01:21 AM UTC
Italy Consumer Confidence above forecasts (96) in May: Actual (96.4)
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Eurozone M3 Money Supply (YoY) in line with expectations (1.3%) in April

May 29, 2024, 8:01:04 AM UTC
Eurozone M3 Money Supply (YoY) in line with expectations (1.3%) in April
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Switzerland ZEW Survey – Expectations rose from previous 17.6 to 18.2 in May

May 29, 2024, 8:00:32 AM UTC
Switzerland ZEW Survey – Expectations rose from previous 17.6 to 18.2 in May
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Forex Today: Major currency pairs stay in familiar ranges, eyes on German inflation

May 29, 2024, 7:30:05 AM UTC
Here is what you need to know on Wednesday, May 29: Major currency pairs are having a difficult time finding direction in the first half of the week.
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