US oil exports last week averaged 11.4 million barrels per day. The weaker dollar supports oil prices by making it cheaper for overseas buyers. US officials were forced to scale back the Russian price-cap plan. Following a session-high increase of more than 3%, crude oil (CL) futures prices continued to surge in early Asian trade Read More…
Alphabet and Microsoft reported weaker-than-expected quarterly earnings. Data released Tuesday indicated a decline in consumer confidence amid rising inflation. Markets are betting on a lower 50bps hike from the Fed in December. Most U.S. Equity Futures index prices, including the E-mini Nasdaq-100 (NQ) futures, closed substantially higher on Tuesday, boosted by dropping benchmark Treasury yields. Read More…
Investors are optimistic the Fed will pause rate hikes as the US economy cools. Business activity in the US fell further below 50 in October. 74.7% of the S&P 500 businesses have reported higher-than-expected earnings. E-mini S&P 500 (ES) futures prices rose on Tuesday, building on gains from the previous week. Indications of economic slowdown Read More…
Japan intervened for the second time last week to support the falling Yen. Speculators are betting on more yen weakness despite recent interventions. Japan faces a huge challenge as speculative short Yen positions continue increasing. Japanese yen (6J) futures prices have fallen as the flood of speculative bets against the Yen continued despite Japan’s historic Read More…
Gold prices are struggling as US Treasury yields make new highs. Markets expect the Fed to maintain its aggressive stance, which might hurt gold prices. The US labor market continues to show resilience amid rising interest rates. The yield on 10-year US Treasury notes has increased to levels last seen in June 2008, and persistently Read More…
US president Joe Biden announces another Strategic Petroleum Reserve release. There are demand concerns as China’s economy deteriorates. Us crude oil inventories fell more than expected last week, showing improved demand. Crude oil (CL) futures prices started October and 4Q’22 strong; however, the subsequent price movement has been affected by concerns about the resumption of Read More…
