US equities remain on a weaker footing after a strong rally pushed major indexes to record levels. The S&P 500 closed Monday at 7,745.06, down 0.5%, while the Nasdaq Composite slipped 0.3% to 26,644.91. The Dow Jones Industrial Average also fell 0.5%. Despite the pullback, Wall Street remains close to historical highs. The recent rally Read More…
Currency futures gained on Monday as the dollar extended declines from the previous week amid a drop in Fed rate hike expectations. Economic data released last week showed easing inflation and a slower economy. Meanwhile, market participants are watching rising tensions in the Middle East with no new deal in sight. Recent US data has Read More…
Interest futures soared on Thursday after US data revealed softer-than-expected wholesale inflation. The PPI report led to a decline in Fed rate hike expectations, sending yields lower. However, if there is no deal to end the war in Iran, oil prices will keep rising, pushing inflation higher. The bond market recovered this week as traders Read More…
Oil prices traded near weekly highs as traders worried about oil supply amid the Middle East crisis. Meanwhile, experts forecast a drop in global demand this year, which could further tighten the market. Brent futures (Source: ICE, Bloomberg) Oil prices were declining last week as traders hoped for a deal to reopen the Strait of Read More…
Gold closed its best week since January on Friday as Fed rate hike expectations eased. A resumption of talks in the Middle East and a downbeat nonfarm payrolls report lowered the likelihood of a rate hike in September. Market participants are now awaiting more policy cues from the US CPI report. Gold weekly performance (Source: Read More…
Equities edged higher on Tuesday, extending Friday’s rally after a poor US jobs report. At the same time, hopes for a deal to reopen the Strait of Hormuz improved risk appetite, which saw stocks end the best week since April. This week, the US CPI report due on Wednesday will continue to shape the outlook Read More…
Currency futures remained elevated on Monday as the dollar wallowed near a two-month low after Friday’s jobs report. The US economy unexpectedly lost jobs in July, leading to a decline in Fed rate hike expectations. This week, all eyes will be on the US consumer inflation report for more cues on Fed policy. The dollar Read More…
Interest futures collapsed on Thursday, giving back most of this week’s gains after reports of a restrictive draft plan for traffic through the Strait of Hormuz. The bond market had recovered this week as tensions between the US and Iran eased, giving room for talks. Meanwhile, market participants are eagerly awaiting the US nonfarm payrolls Read More…
Oil prices wallowed near weekly lows as US-Iran talks progressed towards a deal to reopen the Strait of Hormuz. Still, the Houthis continued attacking tankers in the Red Sea, causing supply concerns. Meanwhile, market participants await crucial US employment data for clues on future policy moves. Since last week, oil has declined on hopes that Read More…
Gold futures gained on Wednesday as reports indicated that the US, Iran, and Oman were close to a truce agreement. Meanwhile, the US dollar and oil saw a decline. Meanwhile, market participants are gearing up for the US nonfarm payrolls report due on Friday. Gold price (Source: Bloomberg) Market sentiment has improved since Saturday, when Read More…
