OIL PRICE FORECAST: Oil Continues to Advance as Supply Concerns and a Potential Rebound in Demand Keep Prices Elevated. Saudi Energy Minister to Provide a Further Update this Week on the Potential for Further Cuts or an Extension into 2024. IG Client Sentiment Shows Traders are 64% Net-Short on WTI at Present, Down from 79%
OIL PRICE FORECAST: Most Read: What is OPEC and What is Their Role in Global Markets? Oil prices continued their advance this morning helped by a weaker USD. The surge in US inventories seems to be overshadowed by growing concerns around tighter supply for the remainder of 2023. Tips and Tricks to Trading Oil Prices
US 10y yields The bond market is the tail that’s wagging the FX dog at the moment. The latest leg higher in the US dollar comes after a rebound in yields after an earlier dip. US 10s are now fractionally higher on the day at 4.26% from a low of 4.21% and it’s similar across
Share: The Euro gathers further steam vs. the US Dollar. Stocks in Europe now trade in a mixed fashion. EUR/USD advances to daily peaks near 1.0730. The USD Index (DXY) breaks below the 105.00 yardstick. Final August CPI in Germany matched the preliminary readings. Wholesale Inventories, Consumer Credit Change come next in the US docket. On
© Reuters. Investing.com – The U.S. dollar steadied near a six-month peak in early European trade Thursday, boosted by signs of a resilient U.S. economy even as the global outlook weakened. At 03:00 ET (07:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 104.897,
© Reuters. Investing.com – The U.S. dollar gained in early European trade Tuesday, as traders turned to this safe haven after disappointing Chinese services activity hit risk-taking sentiment. At 03:00 ET (07:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 104.382, close to three-month
S&P 500 Analysis US Equities Recover Lost Ground as Data Sends Real Yields Lower The top 500 US stocks ranked by market capitalization have partially recovered one of the deepest pullback seen during the current bull market. Rising risk-free rates (US treasuries) at a time when inflation has declined, has resulted in higher US real
Crude Oil, WTI, Brent, Russia, OPEC+, China, India, EIA, API, OVX, NFP – Talking Points Crude oil jumped over hurdles overnight on possible Russian output cuts Stockpiles in the US continue to paint a picture of solid demand there The oil market structure might be supportive of it. Will WTI make a new high? Recommended
Share: Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613. Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls. Lackluster Canadian retail sales data at
Share: Economists at Société Générale make an upward revision to USD/CNY. An arduous march to 7.60 by the end of 2023 We revise up our year-end USD/CNY forecast by 0.20 to 7.60. The policy response, seemingly less organised than in the past, should pave the way for the USD/CNY pair to overshoot rather
