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The Education Department stopped monitoring calls between servicers and borrowers and reviewing borrower data for accuracy, watchdog finds.
In interviews with CNBC and CNN reported by Reuters, US Energy Secretary Chris Wright said that any release of Oil from the Strategic Petroleum Reserve (SPR) would likely take the form of swaps, designed to address short-term supply disruptions without direct costs to taxpayers. He added that such a release could help the market “get through a few weeks of dislocation”.The remarks come amid rising tensions involving Iran and renewed concerns about the security of the Strait of Hormuz, a key maritime chokepoint for global Oil flows. Wright stressed that reopening the strait is a priority and warned that Iran’s…
The largest-ever release of oil from the International Energy Agency’s emergency stockpiles lifted prices for the commodity up by nearly 5% on Wednesday.
USD/CHF posted back-to-back bullish days on Wednesday, rising by over 0.25% after the latest US inflation report and as high energy prices pushed US Treasury yields higher, consequently the US Dollar (USD). At the time of writing, the pair trades near 0.7800.USD/CHF Price Forecast: Technical outlookFurther consolidation lies ahead, even though buyers pushed USD/CHF to a fresh two-day high past 0.7800. Nevertheless, momentum continues to favour sellers as buyers have remained unable to clear key resistance at 0.7817, the latest cycle high.The Relative Strength Index (RSI) shows that bulls are gathering some strength, outweighing bears.With that said, USD/CHF must finish…
Americans are opting out of the Affordable Care Act, and health insurance companies are taking a financial hit.
The Israel Defense Forces said that it had unleashed a new wave of strikes on Iran, shortly after a round of explosions was heard in Tehran.Israel also launches more missiles at Lebanon, where the Israeli military says it’s targeting infrastructure that belongs to Iran-backed Hezbollah in the south of the Lebanese capital.The Financial Times reported late Tuesday that Israel rejected Lebanon’s request for cessation in fighting to allow for talks, demanding negotiations only take place “under fire.” Market reactionAt the time of writing, the West Texas Intermediate (WTI) is down 1.06% on the day at $83.85, retreating from over three-year highs…
Aramco’s CEO warns of “catastrophic consequences” for the oil market if the effective closure of the Straits Of Hormuz were to remain for an extended period. He was unenthusiastic about prospects for the U.S. Navy escorting tankers in transit.
Gold (XAU/USD) builds on the overnight goodish rebound from the vicinity of the $5,000 psychological mark and attracts some follow-through buying during the Asian session on Tuesday. Iranian officials dismissed US President Donald Trump’s remarks that the Middle East conflict will end soon as nonsense and warned that regional security would either exist for everyone or for no one. Moreover, Iran’s Islamic Revolutionary Guard Corps (IRGC) said that Tehran, not Washington, will determine when the war ends. This keeps geopolitical risks in play and helps revive demand for the safe-haven precious metal.Meanwhile, Crude Oil prices regain positive traction following the…
Hims & Hers shares jumped more than 50% in premarket trade on Monday after ending a dispute with Novo Nordisk by striking a partnership with the Danish drug giant.
Societe Generale’s Kenneth Broux highlights that soaring energy prices and Dutch gas strength are weighing on Euro sentiment, keeping EUR/USD under pressure. The bank notes that rate differentials are not driving the pair, with the focus instead on growth risks from higher Oil and gas. Market pricing now implies two ECB hikes by December, with an 84% probability of a first move in June.Energy-driven downside pressure on Euro”In FX, energy and nat gas (+30% at market open) means the bias for EUR/USD remains bearish near term. Rate differentials are not a factor””The implied probability of a first rate increase by…