Oil gained over 2% on Wednesday and extended the gains into Thursday as data revealed a massive drop in US crude inventories. At the same time, supply concerns amid Libya’s lower oil production boosted prices. WTI (Source: Nymex) Data on Wednesday showed that US crude inventories fell for the sixth week in a row. Stocks Read More…
Gold prices extended declines on Tuesday, with the dollar and US Treasury yields recovering as recession fears eased. However, the yellow metal recovered by Wednesday as Fed rate-cut optimism overshadowed recent recession worries. Gold (Source: Bloomberg) On Monday, gold lost nearly 3% of its value as global markets sold off. The turmoil came from fears Read More…
Equities fell sharply on Monday as fears of a recession in the US continued to unsettle investors. At the same time, Apple’s stock significantly dropped after a prominent investor sold its shares. Since last week, investors have been dumping risky assets and buying safer ones due to fears that the US economy is slowing down Read More…
Currency futures gained on Friday as the dollar fell after a downbeat jobs report raised the likelihood of a 50-bps Fed rate cut in September. However, the tides had shifted by Monday morning, and the dollar was on the front foot. Investors bought safe-haven assets, including the dollar and the yen, amid economic and geopolitical Read More…
Interest futures soared on Thursday and Friday as Treasury yields fell after poor US economic data. At the same time, geopolitical tensions led to a scramble for safe assets and boosted prices. The US ISM manufacturing PMI fell from 48.5 in June to an 8-month low of 46.8 in July. The sharp decline in business Read More…
Oil prices rose by 3% on Wednesday and continued higher on Thursday as investors worried about a possible escalation in the Gaza war. At the same time, the Fed opened the door to a September rate cut, improving the outlook for oil demand. Nevertheless, this sudden oil rally was insufficient to offset oil’s monthly losses. Read More…
