Galeanu Mihai/iStock via Getty Images By Elior Manier The US dollar is aggressively backing down from its recent highs, ignoring a fresh surge in crude oil as traders brace for an important FOMC week (and don't forget tonight's Bank of Japan meeting!). For the past months, the FX market operated on the petrodollar trade, with oil and the USD holding a close to perfect correlation. Since late Febru...
Galeanu Mihai/iStock via Getty Images By Elior Manier The US dollar is aggressively backing down from its recent highs, ignoring a fresh surge in crude oil as traders brace for an important FOMC week (and don't forget tonight's Bank of Japan meeting!). For the past months, the FX market operated on the petrodollar trade, with oil and the USD holding a close to perfect correlation. Since late February, the greenback has reliably tracked every major spike in energy commodities. Today, however, that correlation is breaking down, following a progressive decoupling from oil asset flows. Despite WTI crude exploding back up to the $97 handle - a strong 4% surge on the session - the US dollar is refusing to follow suit. Instead of catching a bid, the currency is now easing from its 1% rise last week, signalling that investors are now turning the page on the petrodollar trade (however, that relation could rise again if WTI crosses above $100). WTI Crude and Dollar Index (DXY) Correlation since February 27 – Source: TradingView This pricing divergence comes as the geopolitical conflict resolution continues to evolve into a chaotic fog. While the latest headline chatter continues to tease a potential Iranian reopening of the Strait of Hormuz, contingent on the US ending their blockade, nothing clear has materialized in that direction. Diplomatic progress remains completely deadlocked as Iran stubbornly maintains exceptionally high demands, reportedly insisting on the preservation of its regional proxies and the permanent closure of U.S. military bases in the area. Interestingly, the only notable outperformance action for the greenback was a striking gap higher right at the weekly open. However, with no particular fundamental catalysts accompanying the move, sellers aggressively stepped in and faded the gap, dragging the central reserve currency significantly lower throughout the session. FX Performance (15:28 A.M. ET) – Source: TradingView. April 27, 2026 We’ll explore a few s...
The average one-year price target for ServiceNow (BIT:1NOW) has been revised to €124.14 / share. This is a decrease of 23.22% from the prior estimate of €161.68 dated April 14, 2026. The price target is an average of many targets provided by analysts. The late
The average one-year price target for ServiceNow (BIT:1NOW) has been revised to €124.14 / share. This is a decrease of 23.22% from the prior estimate of €161.68 dated April 14, 2026. The price target is an average of many targets provided by analysts. The late
The average one-year price target for Madison Square Garden Sports (NYSE:MSGS) has been revised to $367.05 / share. This is an increase of 10.17% from the prior estimate of $333.15 dated April 12, 2026. The price target is an average of many targets provided b
The average one-year price target for Madison Square Garden Sports (NYSE:MSGS) has been revised to $367.05 / share. This is an increase of 10.17% from the prior estimate of $333.15 dated April 12, 2026. The price target is an average of many targets provided b
Malaysia’s Negeri Sembilan state was pushed deeper into crisis after Barisan Nasional (BN), a key ally in Prime Minister Anwar Ibrahim’s coalition government, declared it had secured a simple majority to form a new state administration with the opposition. The move turns an extraordinary palace dispute into the sharpest state-level test yet of Anwar’s fragile ruling alliance, ahead of a national p...
Malaysia’s Negeri Sembilan state was pushed deeper into crisis after Barisan Nasional (BN), a key ally in Prime Minister Anwar Ibrahim’s coalition government, declared it had secured a simple majority to form a new state administration with the opposition. The move turns an extraordinary palace dispute into the sharpest state-level test yet of Anwar’s fragile ruling alliance, ahead of a national poll due in less than two years. BN, the former ruling coalition led by Umno that ruled Malaysia for...
On Monday, the courtroom battle between Elon Musk and Sam Altman over alleged broken promises at OpenAI started, as usual, with jury selection. The only tricky part? A lot of the prospective jurors already have an opinion about Elon Musk, and it's not a good one. The Verge reporter Elizabeth Lopatto, who was there at the courthouse, quoted statements from some of the juror questionnaires: "Elon Mu...
On Monday, the courtroom battle between Elon Musk and Sam Altman over alleged broken promises at OpenAI started, as usual, with jury selection. The only tricky part? A lot of the prospective jurors already have an opinion about Elon Musk, and it's not a good one. The Verge reporter Elizabeth Lopatto, who was there at the courthouse, quoted statements from some of the juror questionnaires: "Elon Musk is a greedy, racist, homophobic piece of garbage." "Elon Musk is a world-class jerk." "I very much dislike Tesla. As a woman of color, I am very aware of the damaging statements and actions Elon Musk has enacted and been a part of." M … Read the full story at The Verge.
China’s state-owned refiners have begun applying for government permits that would allow them to resume fuel exports in May, citing plentiful domestic stockpiles. Top Chinese oil majors including China Petrochemical Corp. and China National Petroleum Corp. have since last week sought a green light to ship gasoline and diesel, according to people familiar with the matter, who asked not to be identi...
China’s state-owned refiners have begun applying for government permits that would allow them to resume fuel exports in May, citing plentiful domestic stockpiles. Top Chinese oil majors including China Petrochemical Corp. and China National Petroleum Corp. have since last week sought a green light to ship gasoline and diesel, according to people familiar with the matter, who asked not to be identified as the information is confidential. Inventories across China have swelled in the weeks following Beijing’s decision to curb exports in the early days of the Iran war, prioritizing domestic supply at a time when the closure of the Strait of Hormuz was triggering panic among major importers of oil and refined products. In the intervening weeks, however, higher domestic fuel prices have resulted in unexpectedly weak demand — in part because of electric vehicle use — relieving pressure on suppliers, said the people. Export margins, meanwhile, have risen sharply. Gasoline and diesel inventories at state-owned refineries are at the highest level since 2025 and 2024 respectively, according to Mysteel OilChem data. The government has yet to announce any change to permits following the request. China’s National Development and Reform Commission and the Ministry of Commerce did not immediately respond to faxes seeking comment. As the world’s top oil importer, China has been focused on energy security for years — a strategy leaning on diverse suppliers, heavy investment in domestic production and reserves that has left it better positioned than neighboring economies going into a historic supply crisis. It has also reacted quickly to protect its own consumers, curbing fuel exports even as importing nations like the Philippines and Vietnam grappled with acute shortages.