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Oil rallies but remains range-boundWith no news from the OPEC+ standoff, markets took their cues elsewhere. In this case, the IEA suggested that oil production needed to rise in tandem with the world...
Asian markets cautious ahead of Powell testimonyWall Street closed slightly lower overnight, as stellar bank earnings results could not overcome the nerves caused by much higher than forecast US...
I do take pleasure in being a kiwi on many levels, one of which is the refreshing habit kiwis have of telling it like it is. Life really is much simpler when people say what they mean in this...
Currency markets wait for cue from CPIWith a comparatively light news flow overnight, currency markets are also in wait-and-see mode ahead of US inflation today. The US dollar continues to trade to...
China’s trade data has outperformed this morning, showing no evidence of wilting under rising prices, supply disruptions, virus restrictions or any other excuse you wish to insert.The June...
Chinese trade data lifts Asian marketsWith the overnight treasury auctions passing without incident, Wall Street equities continued to rise modestly. The street was pricing in no US CPI surprises and...
Oil prices remain firmMarkets can’t seem to decide what the OPEC+ standoff between the UAE and Saudi Arabia means for oil prices. On the one hand, a fracturing of OPEC+ unity could lead to an...
There has been a fair bit of catching up to do after the past week spent outside of the financial market’s matrix. The biggest takeaways appear to be that the US dollar rally has run its course...
OPEC+ comments send oil higherAlthough the pre-OPEC+ JMMC meeting was postponed yesterday due to Russian technical issues, oil still managed to recoup its intra-day losses to finish almost unchanged,...
COVID concerns weigh on equity marketsDespite a frisky overnight session for US stock markets, Asia-Pacific markets just couldn't shake off the pandemic blues. The COVID-19 delta variant is having a...
Oil has a pre-OPEC+ correctionOil prices eased overnight as pandemic concerns, and their effect on global growth, and overbought technical indicators, saw markets lighten long positions into this...
The US dollar retreated initially overnight on soft US data and some dovish Fed-speak. US housing starts and services PMIs, were weaker than expected. Along with dovish remarks from Fed member Bowman,...
Oil weathers the FOMC stormOil’s strong fundamentals continued to support prices and limited post-FOMC losses overnight. Futures markets remained in backwardation, signaling strong physical...
Forex markets eye US inflationThe US dollar headed south in early New York trading as US bond yields fell once again. However, those losses were quickly recouped and most major currencies, along with...
Oil markets pause for breathBrent crude and WTI were almost unchanged at USD68.25 and USD66.15 respectively yesterda=y, despite ostensibly bullish US official crude inventories data. The risk-exposure...
Hurricane fears pushed oil higherFears that a storm in the Gulf of Mexico might evolve into a hurricane lifted oil princes on Friday. Brent crude shot up by 2.55% to USD66.65 a barrel, while WTI by...
Oil grinds higherOil prices ground higher overnight as black gold continued to benefit from recovery sentiment in the US/Europe/China axis. Brent crude rose 1.05% to USD69.45 a barrel, advancing to...