Petrodollar shift and chip trade – Commerzbank

Petrodollar shift and chip trade – Commerzbank

Commerzbank’s Volkmar Baur argues that fears over an end to the petrodollar do not automatically imply a loss of the US Dollar’s reserve status. He notes Gulf oil’s declining share in global exports, the stagnation of Oil volumes, and the rising dominance of semiconductor trade, with Taiwan’s USD‑invoiced chip exports and Treasury holdings now rivaling […]

XAG/USD holds losses near $74.00 on Middle East peace hopes

XAG/USD holds losses near .00 on Middle East peace hopes

Silver price (XAG/USD) halts its three-day winning streak, trading around $74.20 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver weakens as optimism grows over easing tensions in the Middle East. US President Donald Trump said on Tuesday that the United States (US) would be “leaving very soon” from the […]

Australian Dollar extends gains vs USD on Iran de-escalation hopes

Australian Dollar extends gains vs USD on Iran de-escalation hopes

The AUD/USD pair is seen building on the previous day’s recovery move from over a two-month low and gaining traction for the second consecutive day on Wednesday. The momentum lifts spot prices to a fresh weekly high, around the 0.6925-0.6930 region during the Asian session, and is fueled by hopes for de-escalation of Middle East […]