CSFX Market News | Global Market Update

  GBP/USD Holds Onto Slight Gains Below 1.3100, Keeping an Eye on US Data. Fundamental Overview In the European morning, GBP/USD retains its slight gains below the 1.3100 level, exhibiting a cautious stance without a clear bias. The prospects of a strengthening trend in this major currency pair are underpinned by the divergent policy outlooks of the Federal Reserve (Fed) and the Bank of England (BoE). Prior to the release of important US data, any significant corrective decline could be perceived as a favorable buying opportunity. Despite experiencing a decline on Friday, the GBP/USD pair managed to record a 2% increase over the course of last week. As Monday begins in Europe, the pair is trading within a narrow range around 1.3100, displaying relative stability. The US Dollar (USD), which witnessed a substantial sell-off on Wednesday and Thursday, managed to hold its ground against other major currencies leading into the weekend. This was supported by the University of Michigan report

  Oil Prices Surge to 10-Week High Amidst Reduced Supply and Low U.S. Inflation. Introduction In a boost to the energy market, oil prices reached a 10-week high due to a combination of reduced supply and low U.S. inflation. The ongoing disruptions in Libya and Nigeria, along with the decline in U.S. inflation, have contributed to the surge in oil prices. This article delves into the factors driving the recent increase, market dynamics, and the implications for the global oil industry. Reduced Supply And Ongoing Disruptions Supply Constraints In Libya And Nigeria Tribal protests over the abduction of a former minister led to the shutdown of several oil fields in Libya, including the nation’s second-largest field, Sharara. This disruption, combined with Shell PLC’s (LON: SHEL) decision to halt petroleum loading at the Forcade’s facility in Nigeria due to a potential pipeline break, has further constrained the global oil supply. Impact Of Production Cuts And OPEC’s Monthly Report Russia a