On Wednesday, oil prices declined by 2%, despite a significant drop in US crude stocks. US crude oil inventories (Source: DOE) The Energy Information Administration reported a record decrease of 17 million barrels in US crude inventories. This resulted from increased refinery operations and robust crude exports. However, a major ratings agency’s downgrading of the Read More…
On Tuesday, US equities closed weaker, marking the start of the seasonally slow August. Investors were cautious ahead of US employment data and major companies’ earnings reports later this week. Shares of mega-cap growth companies like Tesla and Amazon.com, whose valuations suffer when borrowing costs rise, declined as the benchmark 10-year US Treasury note yield Read More…
Equities rose slightly on Monday as traders focused on upcoming corporate earnings and a crucial employment report this week. Notably, Apple Inc and Amazon.com will report on Thursday, along with other well-known companies like Caterpillar Inc, Starbucks Corp, and Advanced Micro Devices. Florian Ielpo from Lombard Odier Investment Managers remarked, “Markets are becoming more sensitive Read More…
Currency futures rose on Friday as the dollar declined against major currencies after new data showed a slowdown in inflation. Investors were also closely monitoring multiple central bank decisions last week to gain insights into the future of monetary policy. US inflation (Source: Bureau of Economic Analysis) In June, US annual inflation rose at its Read More…
A stronger dollar and rising bond yields caused gold prices to drop over 1% to a two-week low. Spot gold declined by 1.4% to $1,943.89 per ounce, while US gold futures fell 1.36% to $1,943.40 per ounce. The US dollar gained ground on Thursday, driven by news of stronger-than-expected economic growth in the country, despite Read More…
On Wednesday, oil prices dropped by approximately 1% due to two factors. Firstly, data revealed that US crude inventories fell less than anticipated. Secondly, the Federal Reserve raised interest rates by 0.25 percentage points. Earlier in the session, oil experienced a decrease of more than $1, despite reaching three-month highs on Tuesday. WTI futures (Source: Read More…
