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Oil rallies once againThe fast money FOMO gnomes were out in force once again in oil markets yesterday, pushing prices higher despite nothing really materially changing in the world. Gone is the...
Tech crackdown sours China marketsBloomberg reports that China regulators are considering severe sanctions on Didi Global (NYSE:DIDI) over its US IPO. The news sent its US-listed stock sharply lower...
Long-covering pushes US dollar lowerThe US dollar gave back some of its recent gains overnight, as Delta-variant nerves eased on the back of strong US corporate earnings. That saw a reduction in haven...
US earnings lift Wall StreetWall Street once again rose overnight, as Monday’s delta-dip became buy-the-dip, supported by strong US corporate earnings. The S&P 500 rose 0.82%, with the...
North American markets continue to put Monday’s “Delta-dip” behind them, with Wall Street rising once again overnight on strong corporate earnings and despite a slightly weak 20-year...
API Crude Inventories halt oil recoveryAfter Monday’s price meltdown, oil prices consolidated nervously at their recent lows overnight. Brent crude finished the session 0.20% lower at USD 68.60...
Tentative rally by Asian equitiesUS stock markets staged a tail-chasing buy-the-dip rally overnight, but Asian markets, although mostly higher, have been far more circumspect. Much of the difference...
Looking at the fallout across financial markets over the past two sessions, I am reminded of Monday’s words, which turned out to be oddly prescient. Given the lack of data releases this week, it...
OPEC+ nerves weigh on oilOil prices continued to fade yesterday, as markets that were already heavily long weighed up the implications of the apparent higher baseline production levels for the UAE....
Despite another fall by US long-dated bond yields and a retreat by tech stocks, the US dollar continues to surprise and hold onto much of its recent gains of the past week. The dollar index rose 0.21%...
Asian markets follow Wall Street and edge lowerAsian markets were mostly lower as US-Sino relations, mixed US data, and a rampaging delta-variant across the region all combine to weigh on sentiment...
There is plenty for Asia to think about with the BoJ unchanged, China clamping down on property developers, Australian lockdowns widening, New Zealand inflation ballooning, President Biden in Sino...
OPEC+ sends oil lowerReports are emerging that Saudi Arabia and the UAE have reached an agreement on their dispute, with the UAE apparently securing a higher production baseline. That followed...
The Federal Reserve Chairman steadied the post-US-inflation ship yesterday, reiterating that virus-disrupted price increases among the CPI components would ease in the coming months. Regarding the...
Transitory Fed Weakens US DollarWith Jerome Powell firmly camped still in the transitory inflation corner, US bond yields unwound their previous day’s rise, and that saw the US dollar give back...
Japanese equities dip, China edges higherStock markets were a mixed bag in Asia after Wall Street limped to an almost unchanged finish despite the Powell testimony steadying the ship. The S&P 500...
US dollar rallies on US inflation dataThe title says it all as much higher than expected US inflation data saw tapering sentiment rise sharply, pushing the US dollar higher across the board. That...