Global Oil Demand to Rise by 2.32 Million bpd in 2023, According to OPEC
The world's energy market is always in flux, and according to OPEC's latest monthly report, the global oil demand growth forecast for 2023 remains unchanged at a whopping 2.32 million barrels per day! This is great news for the oil…
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USD/CAD nears 2-month low as bears target 200-day SMA below 1.3400
The USD/CAD pair is under selling pressure for the fourth consecutive day, dropping to a nearly two-month low on Thursday. Bears are eagerly awaiting a breakthrough of the important 200-day Simple Moving Average (SMA) before placing fresh bets. The US…
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UK Economy Stalls as GDP Remains at 0% for February
The British economy has hit a roadblock, with the February 2021 UK Gross Domestic Product (GDP) monthly release reporting a stagnant 0% growth. This unexpected news has rattled traders, especially as the previous month saw growth of 0.3% and expectations…
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NZD/USD to Remain Range-Bound in Short-Term, UOB Says
The latest analysis from UOB Group's economist Lee Sue Ann and markets strategist Quek Ser Leang suggests that the NZD/USD currency pair will be range-bound over the next few weeks, trading between 0.6140 and 0.6260. According to UOB Group's 24-hour…
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GBP/USD Faces Resistance at 1.2525 Ahead of 1.2600, Warns UOB
In recent forex analysis, the GBP/USD currency pair has encountered significant resistance at 1.2525, with further resistance predicted at 1.2600 by UOB Group's economists. This marks a notable increase in momentum for the GBP, which has been trading in a…
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