The Australian Dollar declines as soft economic data and geopolitical risks drive safe-haven demand for the USD. The AUD/USD pair fell to near 0.7150 in early Asian trading on Thursday. Weak Australian Purchasing Managers' Index data and escalating US-Iran tensions weighed
Devon Energy spent $2.5B on federal land leases in New Mexico and Texas, driving a record $4B auction by the BLM. Devon Energy secured $2.5 billion in drilling rights during a U.S. Bureau of Land Management auction, pushing total sales to a record $4 billion. The auction c
The U.S. contributed 172 million barrels to a 400 million-barrel IEA reserve release, tightening oil supply buffers amid geopolitical risks. The U.S. has committed 172 million barrels to a 400 million-barrel Strategic Petroleum Reserve release by IEA members, the largest c
Nvidia’s fiscal Q1 revenue surged past estimates, with adjusted EPS beating forecasts and guidance exceeding consensus by $4 billion. Nvidia reported fiscal first-quarter revenue of $81.62 billion, up 85% year over year and $3 billion above consensus estimates. Adjusted ea
U.S. crude oil plunges on U.S.-Iran optimism Crude oil futures fell significantly as hopes for a deal between the U.S. and Iran raised expectations for Middle East stability. The decline in crude prices was also driven by the successful exit of three supertankers from
US President Donald Trump says Iran negotiations are in final stages US President Donald Trump stated that negotiations with Iran are in the final stages. Trump reiterated a pledge to restart attacks if Iran doesn’t agree to his terms. The West Texas Interm
XAU/USD holds at $4,540 as traders monitor stalled US-Iran talks and Fed officials signal potential rate hikes if inflation persists. Gold (XAU/USD) remains flat around $4,540 in early Asian trading Thursday, as investors assess geopolitical risks tied to US-Iran negotiati
Flash composite PMI fell to 47.8, marking the second contraction in three months amid a sharp decline in new orders. Australia’s flash composite PMI slumped to 47.8 in May from 50.4 in April, signaling a renewed contraction in private sector activity. The decline was drive
May’s preliminary S&P Global Manufacturing PMI fell to 50.3, signaling slower growth as new orders declined for the first time in 2024. Australia’s S&P Global Manufacturing PMI dropped to 50.3 in May from 51.3 in April, marking the weakest reading since December 2023. The
Supply disruptions in the Strait of Hormuz have reduced global LNG flows by a fifth and erased 1 billion barrels of crude oil since March. Global LNG flows have dropped by roughly 20% due to the ongoing crisis in the Strait of Hormuz, disrupting energy markets. Cumulative
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