All Articles Tagged - crude oil

Is oil headed for another supply war? – Special Report

Posted on January 11, 2024 at 6:48 am GMT

Oil prices remain under pressure despite Middle East crisis Risk of another supply war between US and OPEC is rising Outlook for oil seems negative as supply outpaces demand Oil unable to capitalize on geopolitical tensions Oil prices have taken a beating in recent months, falling by around 23% since late September despite a series of production cuts from the OPEC+ cartel that were meant to reduce supply and stabilize prices. Concerns that the Israel-Hamas war could spiral into [..]

Daily Market Comment – Dollar stable, euphoric stocks turn lower as busy week begins

Posted on January 30, 2023 at 9:30 am GMT

FX market in a stalemate ahead of crucial central bank decisions Wall Street takes a step back after bull run, tech earnings loom Oil ignores military strikes against Iran, awaits OPEC meeting FX traders brace for central bank updates A massive week lies ahead for investors. Central bank decisions in the United States, Eurozone, and United Kingdom, earnings updates from several Wall Street tech giants, and a heavy dose of economic data releases that include the US employment report all [..]

What does China’s reopening mean for the global economy? – Special Report

Posted on January 20, 2023 at 11:08 am GMT

After nearly three years of being cut off from the rest of the world, China has finally lifted most of its strict COVID-related restrictions, with the latest development being the reopening of its borders on January 8. Since December, when the first reopening announcements were made, financial markets have periodically cheered the prospect of the reopening boosting global growth, while on other occasions, they reflected concerns about the spreading of new COVID variants to the rest of the world. So, [..]

Daily Market Comment – ECB appears hawkish, US retail sales disappoint

Posted on December 16, 2022 at 9:20 am GMT

ECB signals that more double hikes are on the way US retail sales slide by more than expected Dollar ends Thursday higher on haven flows Wall Street slides on recession fears ECB slows hikes to 50bps but pledges more to come The US dollar finished Thursday higher against all its major peers, even against the euro, which at some point received support from a hawkish ECB. That said, a lower euro/dollar does not give the full picture of how the [..]

Daily Market Comment – Dollar on the back foot, Wall Street breaks losing streak

Posted on December 9, 2022 at 9:12 am GMT

Dollar trades south on rising jobless claims Wall Street rebounds as bad news is still good news PPI data eyed ahead of CPI numbers and Fed meeting Oil shrugs off Canada-US pipeline closure Dollar slips as jobless claims rise; PPI numbers eyed The US dollar continued trading lower on Thursday and during the Asian session Friday, underperforming all the other major currencies. The incentive for more dollar selling was perhaps given by the US jobless claims data. Although the number [..]

Daily Market Comment – Dollar extends jump, Wall Street ends another day in the red

Posted on December 7, 2022 at 9:25 am GMT

Dollar recoups more losses after better ISM services index S&P 500 extends its losing streak to four sessions Bank of Canada decides on interest rates Is the dollar making a comeback? The US dollar outperformed most of its major peers on Tuesday and continued to trade higher today. With no clear catalyst to boost the dollar yesterday, this suggests that there was fuel left in its tanks from Monday, when the US ISM services PMI showed further improvement in November [..]

Daily Market Comment – Dollar slides despite solid nonfarm payrolls

Posted on December 5, 2022 at 10:14 am GMT

Surprisingly strong US jobs report cannot revitalize dollar rally Stock markets storm back to erase losses, OPEC stands pat China relaxes some covid restrictions, RBA decision eyed Conflicting signals in US jobs data There was no shortage of volatility in the FX complex on Friday. While the latest batch of US employment data was strong on the surface, with nonfarm payrolls exceeding projections and wage growth firing up, the dollar could not capitalize for long. Signs that the economy is [..]

Daily Market Comment – Dollar slides and Wall Street rises after Fed minutes

Posted on November 24, 2022 at 9:39 am GMT

Fed minutes show that officials agreed on slower rate hikes Dollar extends slide against all other major currencies Wall Street adds to gains ahead of Thanksgiving Oil prices slip on price cap talks Dollar slides as Fed minutes reveal concerns about overshooting The US dollar extended its slide yesterday and kept drifting south during the Asian session today, with investors liquidating more of their long positions after the Fed released the minutes of its latest gathering. The minutes revealed that [..]

Daily Market Comment – Dollar stands tall, yen resumes its decline

Posted on November 22, 2022 at 9:19 am GMT

Dollar shines, yen slides as US yields march higher Oil recovers on Saudi signals, stocks chop around RBNZ to roll out another rate increase, but how big? Dollar kicks back Another round of hawkish rhetoric from Fed officials and a flight to safety resulting from China’s virus outbreaks propelled the world’s reserve currency higher as the new week kicked off. The Fed’s Daly and Mester said that the pace of rate increases might be dialed down next month, yet stressed [..]

Daily Market Comment – Dollar skids as midterm results and inflation data loom

Posted on November 9, 2022 at 9:37 am GMT

Midterm votes counted so far point to political gridlock Dollar extends slide, inflation data the next test Wall Street ends Election Day higher Dollar extends slide on prospect of Republican-led House The US dollar lost further ground against its major peers on Tuesday. It seems that investors continued to weigh the prospect of slower rate increases by the Fed as they await results of the US midterm elections and the US inflation data. According to the Fed funds futures, they [..]

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