All Articles Tagged - crude oil

US Open Note – Dollar leads the way as euro falters; oil soars

Posted on August 10, 2021 at 1:04 pm GMT

Dollar heads up but faces some downside pressure; stocks unchanged The US dollar is broadly heading north today on predictions that the Federal Reserve will eventually reduce its stimulus program, but it has come under pressure versus some majors. Strong job numbers on Friday showed that the economy is still recovering. With markets nearing all-time highs because of the Fed’s exceptional stimulus measures, Bostic believes that another solid month or two of job growth should trigger the central bank to begin tapering its asset purchases, and that the Fed should proceed [..]

Daily Market Comment – Dollar shines after Clarida, BoE in the spotlight

Posted on August 5, 2021 at 8:29 am GMT

Dollar climbs as Clarida beats the rate hike drums, ISM hits record Bank of England meets today, sterling reaction hangs on QE votes Meme stocks return, gold takes a rollercoaster ride, oil slides Fed vice chief talks rate hikes It was a wild session in financial markets. The dollar took a hit early on after the ADP jobs report disappointed, only to stage a massive comeback after the Fed’s vice chief talked about rate increases and the ISM services survey [..]

Daily Market Comment – Wall Street sets new records, kiwi storms higher

Posted on August 4, 2021 at 8:45 am GMT

US stocks rally to another record high close, dollar quiet Kiwi skyrockets after stellar jobs data fuel RBNZ bets Gold lifeless, oil takes another hit amid demand worries Stocks cheer as earnings season delivers Wall Street continues to defy gravity. The S&P 500 cruised higher to close at yet another record peak yesterday, telling a much different story than the bond market, which has been feeling the blues lately. Worries that the Delta outbreak will take the wind out of [..]

Daily Market Comment – Virus fears return to haunt markets

Posted on July 19, 2021 at 8:51 am GMT

Global stocks lose altitude as investors sense something ominous Sterling caught in the storm too, loonie slides with oil after OPEC deal Dollar and yen stand tall amid flight to safety, gold not so fortunate Gloomy mood spreads The sense of caution that dominated the bond market recently is now spreading over into stocks and currencies, leaving investors puzzled over what’s behind all the gloom. The initial spark seemed to be a short squeeze in bonds that hammered yields lower, [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

US Open Note – Greenback extends pullback before Powell’s testimony

Posted on July 14, 2021 at 1:02 pm GMT

Dollar declines ahead of Powell’s testimony Fed Chair Powell will today testify in front of the House, and tomorrow, he will testify in front of the Senate. Right now, his opinions are well-known and is expected to keep QE as open-ended as possible, but if the US data continues to heat up, the expectation is that something more conclusive will come at either the August Jackson Hole Symposium or the September 21-22 FOMC meeting. Fed Governor Daly stated yesterday that it is time to talk about tapering, and [..]

US Open Note – Dollar soars ahead of busy week; commodities ease

Posted on July 12, 2021 at 12:35 pm GMT

Dollar’s strong move drives euro lower Ahead of a busy week, the dollar is moving higher against a basket of currencies. Dollar/yen is holding above the 110.00 handle, developing within the short-term simple moving averages (SMAs), while US futures are mixed before the market opens. Euro/dollar is slipping below the 1.1850 level as ECB President Lagarde warned investors to expect new monetary stimulus guidelines in the next ten days and hinted that more measures to help the euro-area economy may [..]

Daily Market Comment – Special ECB announcement could rock the euro today

Posted on July 8, 2021 at 8:33 am GMT

ECB set to announce higher inflation target, Lagarde presser to follow Dollar little changed after Fed minutes, yen shines as yields crumble Stocks retreat amid Chinese regulatory crackdown, oil tanks Euro braces for special ECB announcement The European Central Bank will announce the outcome of its strategic policy review at 11:00 GMT today, with a press conference by President Lagarde to follow 90 minutes later. Reports suggest the ECB will raise its inflation target to 2% and signal it will [..]

Daily Market Comment – Risk aversion hits stocks, revives dollar

Posted on July 7, 2021 at 8:52 am GMT

Risk aversion hits stock markets, breathes life back into dollar Yen shines as US yields decline, oil under pressure, gold cools Fed minutes today could decide if this volatility episode lasts Pandemic-style worries haunt markets It was an explosive session across financial markets on Tuesday as risk aversion made a rare comeback. The underlying theme was fear, but with a pandemic-style flavor. Investors essentially slashed their exposure to assets that are linked to the real economy and looked for shelter [..]

Daily Market Comment – Aussie and kiwi capitalize on softer US dollar, oil roars

Posted on July 6, 2021 at 8:36 am GMT

Australian dollar storms higher after RBA slows asset purchases Kiwi jumps too, capitalizing on softer US dollar and RBNZ pricing Oil prices cheer as OPEC abandons talks, gold pushes higher RBA takes half measures, aussie still soars The Reserve Bank of Australia took the first step towards exiting cheap money policies at its meeting today. It signaled that asset purchases will slow down since the economy is much stronger than earlier expected, but tried to neutralize this optimistic message by [..]

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