It was another messy session overnight with energy, equities, precious metals and currencies trading in wide choppy ranges, diverging in price direction, with no unifying sense of theme emerging. Markets are trying to make sense of a hawkish FOMC that announced a dovish rate hike and believes it can tighten aggressively while maintaining growth. Not […]
Oil prices edge higher Crude prices have come down enough and seem poised to stabilize above the USD 100 a barrel level until energy traders have clarity over geopolitical developments in Ukraine and with Iran nuclear deal talks. Not enough crude demand destruction has happened to warrant prices falling below the USD 90 level and […]
Oil retreat continues Oil prices continued falling overnight, powering the equity relief rally on Wall Street which has extended into Asia this morning. New York Empire State Manufacturing Index fell into negative territory overnight, and US PPI came in ever so slightly under expectations. In a market hungry for reasons to buy the dip, that […]
Covid, Ukraine weigh on oil The unwind of the oil trade is an easy one as a few reasons sent prices lower: China’s Covid surge has worsened as more lockdowns occur, expectations of a long Russia-Ukraine war has decreased as Eastern European leaders show unequivocal support for Ukraine’s independence, countries like India have bought Russian […]
GBP/USD has rebounded on Tuesday after sharp employment numbers. The pound came within a whisker of the symbolic 1.30 line on Monday, dropping to a low of 1.3001. UK employment data outperforms The markets were forecasting good news from the UK employment report, and the data exceeded markets expectations. The number of unemployed persons fell […]
The US dollar is running roughshod over the Swiss franc this week. USD/CHF has shot up 2.16% this week, rising to its highest level since November. In the European session, the Swiss franc is trading slightly above the 0.93 level. Swiss economic outlook remains favourable The KoF Economic Barometer, a key indicator, rose to 107.8 […]
