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CommodityOilPrice.com

Oil Traders Brace for Iran Escalation After U.S. Elections

Oil traders appear to be preparing for a resumption of hostilities in the Middle East following the U.S. midterm elections on November 3, and if such a resumption does not take place, oil prices are likely to drop, ING commodity strategists wrote today in a note. With President Trump repeatedly hinting at or outright saying he may restart attacks on Iran after the midterms, anticipation of new…

ForexForexLive

Germany's trade struggles with China set to put Asia-Pacific deficit on course for record high

For quite some time now, Germany's export struggles are hardly anything new. A lot of that comes down to push to diversify away from China in recent times but Beijing's own ambitions to become more self-sufficient haven't exactly helped matters either. That has slowly exerted a toll on Europe's largest economy, especially when you consider how much Germany's industrial sector has relied on…

ForexForexLive

What are the main events for today?

EUROPEAN SESSION In the European session, the main highlight will be the UK Budget announcement at 12:30 GMT/08:30 ET. The UK Chancellor is expected to announce targeted tax increases and cost-of-living support, with markets focused on the OBR’s updated forecasts and the government’s fiscal headroom, estimated at around £15–16bn. A credible Budget with adequate fiscal headroomcould support GBP…

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