Advance has ended with range trade likely against US Dollar – UOB

Advance has ended with range trade likely against US Dollar – UOB

United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight that GBP/USD gapped lower, dropping to 1.3343 and closing at 1.3346 as the Dollar firmed. Short‑term momentum has cooled, but they still see scope for a dip toward 1.3320, while the broader view has turned neutral, with Sterling expected to trade between 1.3320 and […]

Extends rally $80.00 on Hormuz supply risks

Extends rally .00 on Hormuz supply risks

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – is seen building on the previous day’s strong move up and gaining positive traction for the second consecutive day on Tuesday. The momentum lifts the commodity to a nearly one-month top, around the $80.00/barrel mark during the Asian session, and is sponsored by […]

Iran’s IRGC says cooperation with ‘aggressor enemy’ in Hormuz will delay reopening of waterway

Iran’s IRGC says cooperation with ‘aggressor enemy’ in Hormuz will delay reopening of waterway

The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Tuesday that two ‘offending supertankers’ were hit and disabled in the Strait of Hormuz. IRGC said that tankers ignored warnings, turned off navigation systems and tried to pass through ‘mined route.’ The Iranian military said that cooperation with the ‘aggressor enemy’ in the critical waterway will delay reopening […]