All Articles Tagged - crude oil

Daily Market Comment – Dollar extends retreat ahead of Fed minutes

Posted on April 7, 2021 at 8:36 am GMT

Dollar and pound give back ground as bond yields cool down Euro and yen enjoy a relief rally – can it last? Stocks trade quietly, oil shaky, FOMC minutes in sight Dollar and sterling hit by falling yields The new quarter has turned the tables in the currency market, as the rally in bond yields that turbocharged the dollar along with sterling last quarter seems to have run out of fuel for now, breathing some life back into the devastated [..]

Daily Market Comment – Stocks fly to new records after ISM data, but dollar suffers

Posted on April 6, 2021 at 8:48 am GMT

US equities take to the skies amid stellar data and tax doubts Dollar drops as euphoric mood diminishes safe-haven demand Euro and yen capitalize on dollar’s setback, but for how long? Promising data and tax doubts power up equities There’s no stopping the stock market freight train. Euphoria took over financial markets on Monday after another stellar batch of US economic data, propelling the S&P 500 to new record highs. The catalyst was the ISM non-manufacturing survey, which hit an [..]

Daily Market Comment – Dollar marches higher, yen suffers as yields jump

Posted on March 30, 2021 at 8:33 am GMT

Dollar/yen continues to ascend as Treasury yields hit new cycle highs Stock markets resilient, close near records despite looming tax risk Oil edges higher as OPEC meeting approaches, gold struggles FX market remains a prisoner of bond yields The currency market continues to dance to the beat of rising long-term interest rates. The dollar is marching higher on Tuesday, with dollar/yen overcoming the psychological 110.0 region, mirroring a similar spike in US Treasury yields. The yen usually suffers when foreign [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

US Open Note – Dollar steady, US futures struggle and euro slips

Posted on March 19, 2021 at 1:29 pm GMT

Dollar in horizontal mode; euro below 1.19 A quiet day is on the cards, as reflected in forex and stock markets, with the US dollar moving slightly lower versus the Japanese yen below 109.00, while the dollar index is hovering above the 50- and 100-day simple moving averages (SMAs). Euro/dollar has slipped below the 1.1900 handle and is trying to break to the downside the nine-month ascending channel. Pound/dollar is moving with weak momentum while euro/pound is climbing above the [..]

US Open Note – Dollar freezes in calm day; Vaccine rollout gets delayed

Posted on March 16, 2021 at 1:59 pm GMT

Dollar holds firm; S&P 500 flies to record high The market today is calm as investors are all waiting on the Fed tomorrow to commit to any firm moves. The FOMC is starting a two-day meeting that will end tomorrow and no change in policy is predicted, but the forward guidance for interest rates and asset purchases will be crucial. Stock futures are almost flat today and the bond market is virtually unchanged, so this looks like a market waiting for guidance from the Fed. European stocks/equities/markets are [..]

Daily Market Comment – Dollar shines after Senate approves relief bill, but stocks shaky

Posted on March 8, 2021 at 10:12 am GMT

Solid US jobs report and relief package approval propel dollar higher But stock markets still shaky as tech sector grapples with rising yields Overall, this looks like a healthy and mostly isolated correction Good news keeps on coming Global markets continue to dance to the tune of rising bond yields, as a swift vaccination campaign and the overload of federal spending that is arriving soon have seen investors bring forward the timeline of Fed rate increases. The US labor market [..]

US Open Note – Markets in risk-on tone; Dollar still flies

Posted on March 3, 2021 at 2:05 pm GMT

Stocks and dollar in slightly positive tone; Fed announces Beige Book The market seems to be calmer today. European equities are holding onto gains, while US futures indicate a positive open. The US dollar index jumped to a one-month high of 91.39 yesterday, before retreating around 91.00. Dollar/yen continues the upside rally towards a fresh six-month high above 107.00. Stimulus negotiations are likely to go into overdrive this week as President Joe Biden’s $1.9 trillion Covid-19 relief bill goes to the US Senate. Also, the Fed announces its Beige Book report. Since [..]

Daily Market Comment – Stocks lick wounds, dollar retreats as Fed restores calm

Posted on February 25, 2021 at 9:43 am GMT

Stocks claw back losses amid Fed reassurances and vaccine news Commodity currencies continue to rampage, yen and franc in agony Pound loses some steam after Chancellor warns of tax increases Fed tranquilizer gun restores calm All that was needed to restore order in financial markets were some soothing words from the Fed’s top brass and some encouraging vaccine news. Wall Street came back to life after the Fed chief and vice-chief reassured investors that they won’t overreact to any inflation [..]

US Open Note – Dollar fade continues; stocks hold around record highs

Posted on February 11, 2021 at 1:56 pm GMT

Dollar recoups losses; Biden-Xi Jinping have their first call With stocks holding around their record highs, the Biden Administration making progress on finalizing the stimulus deal and more Americans getting vaccinated, some Fed officials have been talking about earlier tapering. During yesterday’s speech, Chair Jerome Powell mentioned that employment remains far away from full recovery and asked lawmakers and the private sector to support workers. President Joe Biden had his first conversation with China’s President Xi Jinping late on Wednesday, according to a [..]

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