Oil prices dropped about 2% on Wednesday, extending the move into Thursday as market participants eagerly awaited the OPEC+ meeting. At the same time, investors were awaiting crucial US data on employment that will shape the outlook for Fed rate cuts. Oil futures (Source: ICE, Nymex) The OPEC+ meeting is significant because the group will Read More…
Gold prices rose on Tuesday and Wednesday amid safe-haven demand due to political uncertainty in South Korea and France. However, it eased slightly when the US released upbeat employment data in the previous session. Market participants now look forward to the crucial US nonfarm payrolls for clues on future Fed policy moves. Gold (Source: Bloomberg) Read More…
Equities ended at record closes on Monday due to increased bets for a December Fed rate cut. Meanwhile, there was anticipation ahead of crucial US data and Fed policymaker remarks. Notably, stocks ended November in the green due to the Trump trade. Some of this optimism might spill into December. S&P 500 index (Source: Bloomberg) Read More…
Currency futures extended Friday’s move when the dollar ended the week down amid the US Thanksgiving holiday. At the same time, the greenback was weak as market participants geared up for key US economic reports. The dollar had a bearish week as market focus shifted from Trump’s win to the looming Fed policy meeting. However, Read More…
Interest futures had a strong rally this week as the Trump trade faded and data solidified bets for a December Fed rate cut. Meanwhile, Treasury yields and the US dollar eased from their peaks amid thin holiday trading on Thursday and Friday. The dollar and Treasury yields have rallied in November after Trump won the Read More…
Oil prices held flat on Thursday as the US observed the Thanksgiving holiday. Moreover, US crude and gasoline inventories data in the previous session revealed a mixed picture of demand. Data on Wednesday revealed that US gasoline inventories increased by 3.3 million barrels. Meanwhile, economists had expected a 46,000 barrel draw. At the same time, Read More…
