Crude prices stuck at 4 year low ahead of OPEC
The euro’s bounce against the dollar continued yesterday as stronger GDP data from the US wasn’t enough to compete against a poor consumer confidence reading. If shorts continue to be squeezed and...
View ArticleOPEC fails to stop crude price decline
The squeeze continues for the shorts in EURUSD as it recaptured the 1.2500 level on the back of yet further weaker than expected US data. It was as if buyers of the dollar had packed up early for...
View ArticleOPEC to score own goal at next week’s meeting?
Oil prices have had a roller coaster ride since tumbling from over $100 a barrel almost exactly a year ago. Within six months of commencing their downward spiral crude prices were sub $50 in what was...
View ArticleCommodity slump spoils Christmas rally
Further weakness in commodity prices is unsettling investors during this historically very bullish month for equity markets. December usually sees indices rally as Christmas cheer engulfs investors and...
View ArticleBooming oil
Markets never have great expectations going into OPEC meetings, but yesterday’s agreement to cut production starting January of next year came as a surprise. Of course, we knew that was the way that...
View ArticleRisk-Off Sentiment?
The markets on Tuesday erred towards a risk-off sentiment, with the typical “safe haven” instruments such as gold and JPY in demand whilst equities dipped following an apparent milestone in North...
View ArticleShort USD Covering
According to the minutes release on Wednesday evening, from the last Fed policy meeting on June 13-14, it appears that Federal Reserve policymakers are increasingly split on the outlook for inflation...
View ArticleYellen’s Dovish Tone
US equities continued upward on Wednesday, with the DJ30 improving 0.5% on the day and trading to an all-time high of 21,576.90. The impetus behind this was Fed Chair Yellen’s testimony to Congress...
View ArticleUS Administration Agenda Falters
Fading support for President Trump is weighing on USD, as the US administration is finding it difficult to get enough backers in the Senate to pass the healthcare reform bill, raising questions about...
View ArticleFurther USD Weakening
On Friday, US equities were sold off, along with USD, with EURUSD reaching its highest level since January 2015. The markets were concerned to learn that there will be a further investigation into...
View ArticleGlobal Manufacturing Grows
Recent data releases have shown that global manufacturing saw an increase in July, further confirming global economic momentum has carried into H2, as many central banks are preparing to start scaling...
View ArticleUS Data Surprises the Markets
On Friday, the US Department of Labour released Nonfarm Payrolls for July of 209K that beat the markets’ expectation of 183K. Additionally, US Unemployment improved from 4.4% to 4.3% and average hourly...
View ArticleMarkets Look to OPEC
As OPEC began its 2-day meeting in Abu Dhabi on Monday, to align its members to adherence to output reductions, data from S & P Platts revealed that Libya and Nigeria pushed OPEC’s crude oil output...
View ArticleUS-Korean Tensions Rattle Markets
Markets were cautious on Wednesday, as safe-haven assets pushed higher after tensions grew between the US and North Korea. Markets are concerned, as President Trump said, in response to a Washington...
View ArticleGeopolitical Tensions = Risk Aversion
On Thursday, US Producer Prices unexpectedly fell to 1.9% in July (forecast was 2.2%), recording its biggest drop in nearly a year and suggesting further constraints in inflation that will likely delay...
View ArticleKiwi Gets a Boost
Earlier today the Reserve Bank of New Zealand (RBNZ) left their Official Cash Rate (OCR) unchanged at a record low of 1.75% – as the markets had forecast. More importantly was the RBNZ revising...
View ArticleEUR Gains on Hopes of German Coalition
The political instability in Germany improved over the weekend, as the leader of Bavaria’s conservative party endorsed an alliance with Germany’s Social Democratic Party (SPD). With voter pressure and...
View ArticleNorth Korea Missile Test Fails to Rattle Markets
Earlier today, North Korea launched an ICBM that flew higher and further than any previous test firing. The missile was launched from just north of Pyongyang, reaching a height of nearly 3 kilometers...
View ArticleUS Economy Expanding Faster Than Predicted
Data released on Wednesday showed that the US economy expanded at its quickest pace since 2014 in Q3. The US Commerce Department said that GDP grew at an annualized rate of 3.3% in the July to...
View ArticleOPEC Extends Output Cuts
On Thursday, OPEC (Organization of Petroleum Exporters) and non-OPEC producers led by Russia agreed to keep output cuts until the end of 2018. However, they also agreed to a possible early end of the...
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