All Articles Tagged - crude oil

Daily Market Comment – New sanctions boost oil prices, stop euro in its tracks

Posted on May 31, 2022 at 8:56 am GMT

European Union announces new sanctions against Russian oil Euro rebound halted ahead of inflation stats, oil keeps rising Biden-Powell-Yellen will meet today to discuss inflation Russian oil banned, mostly European leaders reached an agreement to cut around 90% of the oil coming from Russia by the end of the year. The aim is to deal another blow to the heavily sanctioned economy and diminish Putin’s ability to wage war, although this decision will also inflict collateral damage back on Europe [..]

Daily Market Comment – Stock market relief keeps US dollar pinned down

Posted on May 30, 2022 at 8:57 am GMT

Dollar retreats, risk-sensitive currencies recover as mood brightens Stock markets stage massive comeback, crude oil keeps rising Quiet session today with US on holiday, but busy week ahead Dollar cools off The conversation in financial markets has changed dramatically in the past few weeks. Whispers of recession have replaced inflation as public enemy number one, thanks to a growing pile of evidence that economic growth is losing power. Cracks have started to show in the US housing market as soaring [..]

US Open Note – Dollar cools off, euro turns up and gold back to $1,800

Posted on May 16, 2022 at 12:53 pm GMT

Chinese data drives dollar higher In the wake of disappointing Chinese economic statistics, which sent the British pound and the Australian dollar down, the US dollar held onto its two-decade high earlier in the day. The surge in the dollar has been fuelled by China’s long-term economic lockdowns, which have contributed together with other uncertainties to an almost 10% rise in the dollar index since the beginning of 2022. In April, China’s retail and industrial activity declined substantially due to widespread Covid-19 lockdowns, which kept workers [..]

US Open Note – Dollar unlocks 20-year high; euro breaks $1.04

Posted on May 12, 2022 at 12:57 pm GMT

Dollar surges but dips against yen The dollar touched a two-decade high against a basket of currencies after US inflation fell less than expected in April. Dollar/yen is declining by 1%, meeting the 129.40 level. Despite increasingly hawkish ECB rhetoric, the euro is trading below $1.0400, falling by 1.0%, with the next key support coming at $1.0340. Euro/yen and pound/yen are plummeting over 2% today. US stock futures are suggesting a strong negative open, continuing the several days of losses. The safe-haven greenback gained support from a worldwide equity sell-off because of investor concerns that central banks are behind the curve [..]

US Open Note – US CPI beats expectations and rises by 8.3%; dollar moves up again

Posted on May 11, 2022 at 1:36 pm GMT

The CPI rate ticked up by 8.3% in the year that ended in April. The annual CPI decrease was the first since August, but it was the eighth month in a row of gains of more than 6%. In March, the Consumer Price Index (CPI) rose 8.5% year-over-year, the highest increase since December 1981. After the release of higher-than-expected CPI figures, the dollar initially rose. The dollar index is showing positive signs as it jumped beyond 104.00; however, US futures are leading lower, suggesting a [..]

US Open Note – Dollar steadies as it awaits US CPI data

Posted on May 10, 2022 at 12:50 pm GMT

Fed speakers today and US CPI tomorrow in focus This week, Fed speakers will be out in full force to disseminate the latest views of the central bank. Each one of these officials has a chance to share their thoughts on current policy. Barkin did this last week and put 75 bp back on the table, stressing that he wants to raise rates “as quickly as possible.” Others at the Fed are also likely to adopt a more hawkish outlook in the coming days. But the main thing to [..]

Daily Market Comment – Can the Federal Reserve exceed market expectations?

Posted on May 4, 2022 at 8:38 am GMT

Fed set to raise interest rates by a half point and shrink balance sheet Market reaction will depend mostly on Powell’s tone – sell the news? FX market quiet, stocks lick their wounds, oil smiles at new sanctions Fed will struggle to exceed market pricing The Federal Reserve is almost certain to raise interest rates by half a percentage point today and outline plans for shrinking its gigantic balance sheet in an attempt to rein in inflationary forces. Markets have [..]

US Open Note – Dollar index surges to 20-year high; Yen still plunging

Posted on April 28, 2022 at 1:15 pm GMT

BoJ maintains dovish stance The Bank of Japan (BoJ), announced a continuation of its ultra-low yield policy earlier today, catapulting the dollar beyond the psychological threshold of 130.00 yen, to the highest level since 2002, hitting the 131.00 round number. The euro, meanwhile, dipped below another important handle of $1.05. The dollar index is extending its movement towards a 20-year high of 103.92. US stocks futures are suggesting a second positive day in a row for the S&P 500 ahead of the earnings results by Apple and Amazon after the closing bell today. There had been considerable market speculation that the [..]

US Open Note – Dollar turns lower after CPI data; oil climbs by 4%

Posted on April 12, 2022 at 1:15 pm GMT

US CPI surpasses forecast, rising to 8.5% Interest rates in the United States continue to rise. The 10-year yield traded near a fresh cycle high of 2.83% and is on course to hit the October 2018 high of 3.26%. This has sent the dollar index beyond the 100 mark for the first time in over two years but after the CPI data, it returned near its opening level, while dollar/yen is hovering below the six-and-a-half-year high of 125.76 posted yesterday. The [..]

Daily Market Comment – Euro pinned down by threat of new sanctions

Posted on April 5, 2022 at 9:02 am GMT

Europe considers new sanctions against Moscow after atrocities Euro under pressure, oil prices recover despite China lockdowns Aussie shoots up after RBA, tech shares lead Wall Street higher Russian embargo? The prospect of another round of economic sanctions against Moscow is back on the table following reports of atrocities against civilians in Ukraine. The US Treasury has already made its move – cutting off the Russian government from using its ‘frozen’ US dollar reserves for making coupon payments on bonds. [..]

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