Interest futures were heading for a very bearish close to the week on Friday amid geopolitical tensions that sent oil prices soaring. Expensive fuel will most likely drive inflation higher, boosting bets on Fed rate hikes. As these go up, Treasury yields climb while the bond market suffers. Bond futures have collapsed since Monday as Read More…
Introduction Silver is trading at $59 today, close to retesting a support zone that’s now been tested four separate times since last October — twice on the way up in November and December, and twice again this year after the sharp correction from January’s spike high near 122. It could be an excellent entry for Read More…
Oil prices rallied to new highs on Wednesday after the US started its eleventh consecutive day of strikes on Iran. Meanwhile, Iran has been busy attacking US facilities in Gulf countries like Kuwait. The escalating tensions have intensiied supply disruptions, tightening a market that had started loosening. Tensions between the US and Iran have escalated Read More…
Gold prices rose by over 1% on Tuesday amid hopes for a ceasefire in the Middle East. The yellow metal has also remained strong as the dollar faced downward pressure after last week’s downbeat inflation report. Market participants are now looking forward to next week’s FOMC policy meeting. Spot gold (Source: Bloomberg) Gold has held Read More…
Introduction WTI crude closed up 15.6% last week, which is the highest weekly close since April. There is resistance now at the 50-day MA, so the question is whether the selling power will be strong enough to push prices back down toward $70 or if the bulls will be strong enough to continue with this Read More…
Currency futures were down on Monday as risk appetite remained low amid the escalating tensions in the Middle East. Meanwhile, the dollar regained its shine as safe-haven demand increased. However, most major currencies were up against the greenback last week as a downbeat US inflation report eased Fed rate hike expectations. “FX markets were relatively Read More…
