All Articles Tagged - crude oil

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

What does the OPEC meeting mean for oil? – Special Report

Posted on June 30, 2021 at 3:10 pm GMT

It’s a huge week for energy markets, with an OPEC+ meeting on Thursday that could determine whether oil prices keep rallying or cool off. The market reaction will depend on the size of any production increase. In the big picture, it’s becoming harder to envision any massive gains from here, as more supply comes back online and demand gets hit from the raging Delta variant. Careful approach The world’s largest oil cartel has played its cards very carefully this year. [..]

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

Week Ahead – Dollar’s fortunes hang on nonfarm payrolls

Posted on June 25, 2021 at 1:58 pm GMT

With the Fed’s bombshell still resonating in the markets, all eyes will be on the next edition of nonfarm payrolls. It could single-handedly determine whether investors spend the summer positioning for a withdrawal of cheap money, or whether all that is premature. In the big picture, we seem headed for a period of ECB/Fed divergence, which could ultimately spill over into euro/dollar. Fed throws a curveball The Fed caught markets sleeping last week, unleashing all sorts of havoc after it [..]

US Open Note – Dollar tumbles after PCE data

Posted on June 25, 2021 at 1:07 pm GMT

Dollar moves south as US futures hold steady Markets drove the dollar even lower after the release of the PCE price index on Friday. During the last couple of days, the dollar index has remained steady just below 92.00. The greenback is falling after the jump above the 111.00 psychological level versus the Japanese yen. US futures are currently trading in green on Friday. The core PCE, the Fed’s preferred inflation indicator rose by 3.4% y/y, up from 3.1% in the previous month and was in line with expectations. It is the highest reading [..]

Daily Market Comment – Bank of England meeting in the spotlight

Posted on June 24, 2021 at 8:24 am GMT

BoE unlikely to shake markets today, minor upside risks for sterling Dollar back in the ring as Fed lets the hawks out Stocks elevated, another heavy dose of Fed-speak coming up BoE set to maintain optimistic tone All eyes will be on the Bank of England today. This is one of the smaller meetings without a press conference or updated economic forecasts, so any seismic policy signals are unlikely. Still, there is a risk that the BoE upgrades its language [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

Daily Market Comment – Wall Street bounces back, dollar takes a break

Posted on June 22, 2021 at 9:23 am GMT

· Stock markets reclaim lost ground, dollar pauses as Fed worries abate · Oil grinds higher amid fading hopes for US-Iran deal, gold stabilizes · All eyes on Fed chief Powell’s testimony today at 18:00 GMT Don’t fear the Fed The inflation trade took a beating after the Fed’s seismic signals about faster rate increases, but the blues didn’t last long. Wall Street staged a massive comeback on Monday as market participants concluded that cheap money is helpful, but not [..]

US Open Note – US CPI surprise driving dollar higher; Lagarde comments hurt euro

Posted on June 10, 2021 at 1:10 pm GMT

US CPI spike higher than expected Consumer prices in the United States were closely watched today for any clues about a tapering timeline. The headline CPI rose by 5% year-on-year for May, driving the dollar higher. This figure is the highest number since August 2008 amid low base effects from last year. The annual core CPI accelerated to 3.8% from 3.0% while the monthly rate ticked slightly down to 0.7% versus 0.9% previously. The Fed is anticipated to take baby steps towards slowing its bond purchases and the [..]

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