crude oil

Daily Market Comment – Euro ignores Merkel’s warning of prolonged German lockdown

Posted on January 13, 2021 at 10:07 am GMT

Dollar retreats after Fed officials play down prospect of QE tapering Euro capitalizes on dollar’s woes, even as Merkel warns of extended lockdown Stock markets quiet, but crude oil continues impressive bull run US inflation data and Fed speakers today could set the tone Dollar retreats as Fed’s George plays down tapering The world’s reserve currency came back under selling pressure on Tuesday as Fed officials poured cold water on speculation around a withdrawal of their massive liquidity programs. The [..]

Daily Market Comment – ECB ‘disappointment’ lifts euro, equities struggle

Posted on December 11, 2020 at 12:05 pm GMT

Euro jumps after ECB fails to over-deliver on stimulus package Stocks bounce as Mnuchin hails progress in stimulus talks, but fall back Oil breaks higher, unscathed by recent negative developments Brexit will continue to dominate ahead of Sunday ‘deadline’ ECB firepower fails to impress markets, euro spikes Those looking for a euro-killing stimulus package by the European Central Bank were left disappointed yesterday, with policymakers delivering exactly as much ‘juice’ as markets anticipated. The Bank expanded its QE program by [..]

Daily Market Comment – Investors on alert as California shuts down, gold glitters

Posted on December 8, 2020 at 10:28 am GMT

Markets revert to old pandemic playbook amid new US restrictions Nasdaq hits new highs, but other stock indices drop alongside oil Gold stages heroic comeback, bigger picture still encouraging Sterling on the back foot as PM Johnson heads to Brussels Big tech shines as pandemic concerns resurface A sense of caution has crept back into global markets, as investors try to balance the prospect of more government stimulus and central bank liquidity against the grim pandemic reality, with California announcing [..]

Daily Market Comment – Dollar on the ropes, aussie unfazed by China tariffs

Posted on November 27, 2020 at 12:09 pm GMT

Greenback hovers near lows, markets quiet overall What’s the outlook for euro/dollar from here? China slaps tariffs on Australian wine, but aussie immune Crunch time in Brexit talks as EU negotiators travel to London All quiet on the FX front It was a relatively subdued session in global markets yesterday with US traders being away on holiday. Most stock indices closed flat and currency pairs generally traded in narrow ranges, with no real headlines to steer the price action and [..]

Daily Market Comment – Dollar on the defensive, market rally pauses

Posted on November 26, 2020 at 9:24 am GMT

Stock markets pause for breath, currencies quiet too Dollar the only notable mover, extends recent losses Crude oil retreats from highs as OPEC meeting looms Sterling in the spotlight as Brexit headlines turn cautious Markets calmer on Thanksgiving The ecstatic mood that prevailed in global markets earlier this week seems to have faded for now, with stock markets being essentially flat since Tuesday and most currency pairs confined in narrow trading ranges. There is a sense that investors are waiting [..]

Oil rides vaccine euphoria higher, will OPEC help? – Special Report

Posted on November 25, 2020 at 4:33 pm GMT

Crude oil staged a heroic rally lately, with the vaccine news acting as jet fuel for prices. Investors are finally pricing in a brighter outlook for demand next year, but that is only half of the equation. The other half is what the supply side will look like, so crude’s fate now lies in OPEC’s hands, which will meet on Monday to decide whether to extend its production cuts. A three-month extension seems fully priced in by now, so if [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 10:45 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Daily Market Comment – New batch of vaccine hopes and the Brexit endgame

Posted on November 23, 2020 at 10:01 am GMT

Fresh vaccine news boosts risky assets, but only barely Vaccines losing their mojo in lifting markets? Sterling cruises higher as speculation around a Brexit deal grows European PMIs not quite as dismal as feared Diminishing positive returns from vaccine news? The vaccine hype train keeps on rolling. AstraZeneca was the latest drug maker to announce its late-stage trial results and even though the efficacy rate was only 70% – much lower than that of Pfizer or Moderna – the news [..]

Daily Market Comment – RBNZ lights a fire under the kiwi, sterling climbs too

Posted on November 11, 2020 at 9:51 am GMT

RBNZ plays down negative rates, kiwi flies Sterling leaps after divisive bill suffers crushing defeat in Lords Markets in a cheerful mood overall, but watch the Fed Kiwi charges higher after RBNZ ‘disappoints’ The kiwi dollar took off like a rocket on Wednesday, extending the gains it recorded amid all the vaccine enthusiasm, after the Reserve Bank of New Zealand poured cold water on speculation for negative rates. While the Bank maintained a cautious tone and even introduced a [..]

Daily Market Comment – Wall Street charges higher on vaccine news, but bond market ruins the party

Posted on November 10, 2020 at 12:55 pm GMT

US stock market hits new record after Pfizer vaccine announcement Crude oil and commodity currencies soar, yen crumbles alongside gold However, the party doesn’t last – stocks give up most gains, dollar reverses higher RBNZ meeting coming up, vaccine and stimulus news remain in focus Pfizer vaccine news catapult markets to new records Christmas came early for investors this year, with global equities charging higher and safe havens falling apart after drug maker Pfizer announced that the coronavirus vaccine it [..]

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