All Articles Tagged - crude oil

Daily Market Comment – Euro/dollar sinks below parity but Fed provides life jacket

Posted on July 15, 2022 at 9:10 am GMT

Euro/dollar falls through parity, then reverses as Fed downplays 100bp rate hike Stock markets and oil prices follow similar path, but gold can’t catch a break Chinese economy contracts, Italian politics in the spotlight, key US data eyed Not so fast The world’s most liquid currency pair pierced through the legendary parity level yesterday after another sizzling-hot reading on US producer prices added credence to speculation that the Federal Reserve might raise interest rates by one percentage point this month. [..]

Daily Market Comment – US inflation report and BoC rate decision coming up

Posted on July 13, 2022 at 8:25 am GMT

Euro/dollar stabilizes around parity, awaits US inflation data for fuel Another round of selling hits stock markets and commodity prices RBNZ raises rates but markets barely react, Bank of Canada next You shall not pass The price action in euro/dollar has captivated the entire financial system this week as the bulls and bears battle it out for control of the parity level. It has been a stalemate so far, although that might change once the latest US inflation report is [..]

Oil prices are the only trade that matters – Special Report

Posted on July 6, 2022 at 2:27 pm GMT

Energy prices have turned into the most important issue in economics. Their trajectory will shape the future behavior of consumers, central banks, and investors alike. Oil prices have finally started to lose power, joining the ranks of other struggling commodities. If the rout deepens, both inflation and recession nerves could calm down a little, opening the door for relief rallies in FX and equity markets. All about oil There has been a seismic shift in global markets lately. Concerns around [..]

Daily Market Comment – Yen enjoys some relief as oil prices cool off

Posted on July 1, 2022 at 8:38 am GMT

Yen bounces back as growth concerns pressure crude oil and yields New quarter but investors still defensive – stocks, aussie, kiwi down Striking part is that gold cannot capitalize, hits six-week low instead Yen reprieve The new quarter has not changed much in global markets. Growth concerns are still the name of the game, keeping riskier assets under heavy pressure and pushing market participants towards defensive plays. Stock markets are a sea of red in every region, trade-sensitive currencies such [..]

Daily Market Comment – Wall Street under pressure as growth risks dominate

Posted on June 30, 2022 at 9:06 am GMT

Markets price in Fed rate cuts for next year as recession woes deepen Dollar powers up, euro/franc breaks below parity, stock futures drop Oil retreats ahead of OPEC decision, America moves to ban TikTok Fed rate cuts? An abysmal quarter for financial markets is finally drawing to a close, with bond and equity investors left shell-shocked from the relentless barrage of rising interest rates. The only winners in this gruesome inflationary environment were the US dollar and oil prices, as [..]

Daily Market Comment – Dollar advances, stocks roll over as growth worries return

Posted on June 29, 2022 at 9:00 am GMT

Traders play some defense after US consumer confidence disappoints Dollar dominates, franc shines, tech stocks back under selling pressure German inflation stats and speeches by Fed, ECB, and BoE leaders today Royal flush Growth concerns returned to haunt global markets yesterday after the US consumer confidence index fell short of expectations, adding credence to the view that economic momentum is evaporating as the cost of living crisis bites. Some disappointing regional manufacturing surveys underscored the same point. Recession watchers have [..]

Daily Market Comment – Oil prices edge higher on capacity concerns, yen retreats

Posted on June 28, 2022 at 8:46 am GMT

Reports that Middle East producers are tapped out boost oil prices Yen back under pressure – is the downtrend close to its conclusion? Wall Street loses some altitude, ECB forum in the spotlight Crude recovers Oil prices edged higher for a third session on Tuesday, following reports that major producers such as the United Arab Emirates and Saudi Arabia are either completely tapped out or have little spare capacity to boost output. Coming hot on the heels of social unrest [..]

Week Ahead – Energy politics and a barrage of data releases

Posted on June 24, 2022 at 11:27 am GMT

There are no central bank meetings next week but there is an avalanche of economic data from America, Europe, and Japan to keep traders entertained. Politics will also be in the spotlight with a G7 meeting over the weekend. Global leaders are expected to outline steps to stabilize energy markets, which could have tremendous implications for central banks. Politicians scramble The spike in energy prices and their impact on consumers has turned into the most important political issue across the [..]

Daily Market Comment – US dollar turns its sights to employment report

Posted on June 3, 2022 at 8:45 am GMT

Too early for US employment data to reflect hiring slowdown? Oil prices reverse higher as OPEC doesn’t satisfy thirsty market Stocks recover despite Microsoft’s warning, euro capitalizes Nonfarm payrolls playbook The latest US employment report will be in the limelight today as nervous market participants search for anything that might convince the Fed to shift into lower gear later this year. There have been several signs that the US labor market is losing momentum, from a slowdown in the housing [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

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