crude oil

Week ahead – RBNZ meets, but geopolitics may steal the show

Posted on September 20, 2019 at 1:13 pm GMT

The Reserve Bank of New Zealand (RBNZ) will be the sole major central bank that meets next week, but there’s a flood of economic data to keep traders busy – most importantly the euro area’s preliminary PMIs due on Monday. Beyond these, markets will also keep a close eye on the geopolitical arena as tensions in the Middle East continue to boil, and any serious escalation threatens to impact not only oil prices but global risk appetite too. European PMIs [..]

Daily Market Comment – ECB meeting front and center as trade worries ease

Posted on September 12, 2019 at 8:36 am GMT

ECB decision today – euro reaction to hinge on size of stimulus package Trade fears recede after US and China extend olive branches – stocks soar Oil prices dive as Trump considers easing Iran sanctions ECB meeting: Is ‘Super Mario’ coming with a bazooka or a toy gun? The much-anticipated ECB meeting concludes today at 11:45 GMT, and a press conference by President Mario Draghi will follow at 12:30 GMT. Policymakers are widely expected to deliver a blend of stimulus [..]

Daily Market Comment – Yen in distress amid trade optimism and BoJ easing talk

Posted on September 11, 2019 at 8:28 am GMT

Trade optimism remains the dominant theme, keeping FX market in a risk-on mood Yen underperforms on speculation of BoJ easing next week Oil retreats after Trump fires hawkish national security advisor Bolton Markets stay in a risk-on mood as trade optimism lingers The FX market continues to dance to a ‘risk-on’ tune, with moves in recent days being characterized by haven currencies such as the yen retreating, while trade-sensitive currencies like the aussie and the kiwi recover lost ground. Investors [..]

Daily Market Comment – Pound sinks as Boris plays ultimate game of chicken

Posted on August 29, 2019 at 8:44 am GMT

Pound drops after PM Johnson suspends Parliament Risk appetite improves as China hints September trade talks may go ahead German inflation data and US second GDP reading on the radar today Sterling dives as Boris sets course towards a no-deal Brexit In a dramatic turn of events, UK Prime Minister Johnson announced yesterday he will prorogue Parliament, meaning that British lawmakers will not be able to debate or vote on anything between September 12 – October 14. The move is [..]

Daily Market Comment – Wall Street retreats on recession fears; oil soars

Posted on August 28, 2019 at 9:08 am GMT

Yen and gold advance, stocks retreat as recession worries intensify Pound recovers as no-deal Brexit risk recedes, but outlook still negative Oil jumps after massive inventory drawdown – official EIA figures due today Wall Street retreats as recession fears deepen A mild risk-off tone swept through global markets on Tuesday, with American stocks closing modestly in the red and the defensive Japanese yen outperforming most of its major peers. Likewise, gold prices logged some gains, as the commodity currencies – [..]

Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 8:10 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:17 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:51 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 8:37 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 8:09 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

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