All Articles Tagged - crude oil

US Open Note – Dollar remains stable after CPI and before FOMC Minutes

Posted on October 13, 2021 at 1:11 pm GMT

US CPI data jumps to 13-year high; dollar still firm The main event today was the release of the US CPI data ahead of the FOMC minutes later in the session. The annual inflation rate increased to a 13-year high of 5.4%, up from 5.3% in August and beyond market estimates of 5.3%. Consumer prices increased by 0.4% monthly, slightly exceeding predictions of 0.3%. The dollar seems to be keeping its recent gains. USD/JPY is holding below the 34-month high of 113.70. However, the euro is recouping some losses, trading near $1.1565, after [..]

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Weekly comment – USD reigns supreme amid energy worries

Posted on October 8, 2021 at 1:21 pm GMT

Energy concerns took a breather after Russia offered to release more natural gas to Europe, but there wasn’t much relief in the FX market. USD continues to outperform as investors bet this crisis will hit Europe and Asia harder than America. The upcoming week seems quite exciting, with a barrage of crucial US data alongside the latest Fed minutes. The highlights: In America, inflation numbers will hit the markets Wednesday, a few hours before the minutes of the latest [..]

Daily Market Comment – Energy risks plague stocks, oil joins the party

Posted on October 5, 2021 at 9:06 am GMT

Oil rallies after OPEC does nothing, intensifying energy crisis Stock markets take another hit, tech leading the way lower Dollar awaits ISM services survey, kiwi looks to RBNZ rate hike OPEC adds fuel to energy crisis The world’s dominant oil cartel did not accelerate its production increases yesterday, propelling oil prices to new multi-year highs and fanning the flames of the raging energy crisis. With natural gas and coal prices going through the roof lately, crude oil has joined the [..]

Daily Market Comment – OPEC meeting in focus as energy crisis rages

Posted on October 4, 2021 at 9:14 am GMT

Wall Street rebounds after Merck covid pill, but sentiment fragile Dollar retreats a little as nonfarm payrolls week kicks off OPEC meeting today could be crucial amid unfolding energy crisis Stocks trapped in limbo Global markets continue to grapple with a variety of risks, from supply chains being in disarray to an energy crisis that has engulfed Europe and Asia, simultaneously threatening to hamstring economic growth and keep inflation hot for longer. This is precisely what the latest ISM manufacturing [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

Daily Market Comment – Yen and tech stocks bleed as yields march higher

Posted on September 28, 2021 at 8:52 am GMT

Spike in bond yields plays havoc with yen and stocks Oil cruises higher amid dual energy crises in Europe and China Dollar firms, gold struggles, Powell testifies before Congress Yields spike The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened the door for a rate increase next year, and the rally has gone into overdrive this week thanks to some signs that inflation [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

Daily Market Comment – No clear winner in German elections

Posted on September 27, 2021 at 8:46 am GMT

Euro pulls back after inconclusive German election Dollar balances faster Fed hikes against fading Evergrande fears Wall Street and oil prices keep climbing ahead of busy week Political deadlock in Germany? After a knife-edge election that produced no clear winner, several weeks of intense political negotiations lie ahead in Germany. The Social Democrats narrowly won the vote but the conservative CDU party was just a couple of percentage points behind, so both parties will now try to form a government [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

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