All Articles Tagged - crude oil

US Open Note – Russia-Ukraine peace talks remain in focus; US ADP figure rise and GDP revised slightly down

Posted on March 30, 2022 at 1:01 pm GMT

US ADP and GDP figures come out The ADP employment figure was the main release out of the US today. Private payrolls rose by 455K people in March, slightly over market expectations of 450K and it follows an upwardly revised 486K in February. As a result, the unemployment rate is predicted to fall to 3.7% in the NFP report on Friday, while average hourly earnings are expected to increase by a few percentage points year-on-year, to 5.5%. The consensus forecast is for 490k jobs in March, down from 678k in [..]

US Open Note – Yen dives sharply as BoJ buys unlimited bonds; oil back below 110

Posted on March 28, 2022 at 12:53 pm GMT

Dollar/yen rises to a fresh 6-year high The Bank of Japan reaffirmed its support for its Yield Curve Control aim; a statement of its dovishness. A record was set by offering limitless 10-year JGB purchases for three consecutive days at the YCC trading band’s upper limit of 0.25%. As of February 14, this was the BOJ’s first action since 2018, which marked the beginning of such purchases. According to the BoJ, the three-day operation was aimed to bolster YCC, and the timetable and amounts might [..]

Daily Market Comment – Euro on recession watch, equities extend winning streak

Posted on March 21, 2022 at 10:20 am GMT

Stock markets power higher, flying against hawkish Fed Crunch time for euro, PMI surveys set to reveal war damage Oil spikes higher as EU considers joining Russian embargo Equity markets advance Wall Street extended its winning streak on Friday, undeterred by signals that the Fed is about to slam on the brakes to get spiraling inflation under control. The flagship S&P 500 closed the week with gains exceeding 6%, drawing power from a collapse in implied volatility after the Fed [..]

Weekly Comment – SNB meeting and PMI data eyed after the Fed’s rate hike

Posted on March 18, 2022 at 1:37 pm GMT

The Fed has started its tightening cycle, raising interest rates by 25 basis points and signalling six more rate hikes by the end of 2022. However, despite this hawkish tilt, equity markets staged a comeback, while the US dollar witnessed significant losses. In the upcoming week, an interest rate decision from the Swiss National Bank and a raft of PMI data from most major economies take centre stage, together with UK inflation and retail sales. The highlights: Flash PMI data [..]

Week Ahead – Fed and BoE meet as inflation fears intensify

Posted on March 11, 2022 at 12:42 pm GMT

Global markets descended into turmoil after Russian forces rolled into Ukraine. Commodity prices have gone through the roof and traders are betting this shock will keep the inflationary fire burning for some time. The Fed and the Bank of England are set to raise interest rates next week to combat spiraling prices, although the most crucial variable for their respective currencies may be whether there’s a ceasefire in the war. One big trade Ever since the Russian invasion, financial markets [..]

US Open Note – Dollar and US futures look steady; gold shines

Posted on March 8, 2022 at 1:49 pm GMT

Ukraine – Russia tensions; rouble continues the drop Russia-Ukraine peace talks have made no headway, and despite Germany’s resistance to a ban on Russian energy imports, oil futures have fallen from a 14-year high reached on Monday. Analysts expect the supply shock to linger and harm growth in the coming months. A convoy of buses are on their way to Mariupol to evacuate civilians from the southern port, which has been cut off from food, water, electricity, and heat for more [..]

Daily Market Comment – Oil charges higher again, creating a headache for ECB

Posted on March 3, 2022 at 9:34 am GMT

Crude oil rally goes into overdrive after OPEC offers no relief Euro under pressure, could get worse when ECB meets next week Powell doesn’t say much but stocks like that, peace talks resume Commodity markets panic The storm in commodity markets is turning into a hurricane. What started out as an energy shock because of the suffocating sanctions on Russia has started to broaden out, lighting a fire under food prices and metals. Oil prices have been at the tip [..]

Daily Market Comment – Oil prices go ballistic as Ukraine crisis deepens

Posted on March 2, 2022 at 9:59 am GMT

Oil prices go parabolic, climb almost 20% this week as sanctions bite Dollar and yen advance, gold shines, yields crumble, stocks retreat Coming up – Ukraine peace talks, Powell testifies, OPEC and BoC meet Energy market in turmoil The war in Ukraine has unleashed havoc on financial markets, with some of the most liquid securities on earth trading like penny stocks lately as nervous traders scramble to either hedge their risk exposure or liquidate assets. Oil prices are the perfect [..]

Daily Market Comment – Western sanctions decimate the Russian economy

Posted on February 28, 2022 at 10:29 am GMT

America and Europe hit Russia with suffocating economic sanctions Russian central bank raises interest rates but cannot defend currency Stocks retreat, US dollar and oil advance as traders reduce risk Capital flees Russia The invasion of Ukraine has sent markets into a tailspin. Europe and America finally took off the gloves and announced a new round of crippling economic sanctions against Russia. These include the expulsion of several Russian banks from the SWIFT international payments system and freezing most of [..]

US Open Note – Mild sanctions improve the risk-on sentiment for now

Posted on February 23, 2022 at 1:32 pm GMT

Geopolitical ‘drama’ dominates the markets The West has implemented a set of sanctions against Russia after President Putin recognized the independence of the two breakaway regions in Ukraine, moving ‘peacekeeping’ troops into the area. The advance was interpreted as the beginning of an invasion by global leaders, as Moscow stressed that the region considered independent is not limited to the area controlled by the separatists, but extends to areas currently controlled by Kiev. However, initial sanctions were perceived to be [..]

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