Oil finds support, Gold crushed on global central bank tightening, Cryptos waver

China’s oil demand stood at 14.6 million bpd, +17% y/y, but down from a month ago Strong dollar killing gold as more rate hikes penciled in by Fed Global crypto market barely holds onto the $1 trillion level, down 3.5% to $1.02T Oil Crude prices are trying to find support as the global growth outlook […]

Risk aversion weigh on oil and gold, Bitcoin rises on BlackRock planned ETF and EDX launch

Oil Crude prices are lower on disappointment with the size of cuts with China’s key lending rates. ​ Oil seems locked in on anything and everything that has to do with China. ​ Last week, oil was supported by improving Chinese refiner quotas. ​ This week, energy traders are seeing oil weakness emerge on disappointing stimulus efforts. ​ WTI […]

Stocks lower as Hawkish Powell doubles down on tightening threat

Dollar drops after 3-day rally Powell remains hawkish; bringing down inflation has a long way to go Fed swaps price in a 69.2% chance of a hike at the July 26th FOMC meeting US stocks declined as Fed Chair Powell’s testimony to the House affirmed the Fed’s threat of higher rates to combat inflation.  Wall […]

Podcast – BoE, SNB and CBRT raise rates, bitcoin hits $30,000

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest interest rate decisions from the BoE, SNB, and CBRT, Wednesday’s testimony from Fed Chair Jerome Powell and bitcoin hitting $30,000. Content is for general information purposes only. It is not investment advice or a solution to buy or sell […]

Economic jitters hurt oil and boost gold, Crypto unfazed

Recession risks drive safe-haven flows gold’s way Oil has worst weekly decline since May Bitcoin tests highest level in a year Oil Oil prices are declining on fears that a European recession and delayed stimulus from China will spell trouble for the global growth outlook.  Next week, the heads of the major central banks will […]

Podcast – Tightening to a recession

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the flash global PMIs, the UK’s mortgage crisis, Elon Musk Vs Mark Zuckerberg, and the return of the crypto bulls. Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions […]

Oil is ready to rally, Gold stabilizes, SEC sends Bitcoin towards $30K

Oil Oil’s fourth straight quarterly decline should be its last one. WTI crude is trying to stabilize above the $70 level as the oil market is destined for a deficit in the second half of the year.  The crude demand outlook has too much doom and gloom priced in as the US and China outlooks […]

Oil weakens on weaker global growth outlook, Gold and Bitcoin unfazed

Commodities get little support from a weaker dollar Demand destruction likely to force Saudis to extend cuts Bitcoin holds onto the $30,000 level Oil Crude prices are weakening as concerns mount that the global growth outlook is getting uglier by the day.  China is rushing to deliver more support to their real estate crisis, while […]

Stocks gain ahead of June CPI report

US June CPI M/M: 0.3%e v 0.1% prior; Y/Y: 3.1%e v 4.0% prior; Core CPI (ex food and energy)M/M: 0.3%e v 0.4% prior; Y/Y: 5.0%e v 5.3% prior Microsoft gets go-ahead to buy Activision; prompts excitement for further deal making. Impressive demand for 3-year note auction US stocks rose as bond yields remained capped as […]

Oil tentatively lower on disappointing Chinese data

Goldman Sachs eyes a significant crude deficit in the second half of the year Markets price in 25% chance Fed cuts at December 13th FOMC meeting Bitcoin supporter Novogratz expects Bitcoin ETF gets done by end of year Oil Crude prices are lower as China’s economic recovery stalled and as Libya resumed production at key […]

Gold rises post ECB’s Klot comment and Canadian CPI report

ECB’s Knot (hawk) noted that for July I think it is a necessity, for anything beyond July it would at most be a possibility but by no means a certainty Canadian headline CPI was 2.8%, versus 3% expected, which should allow the BOC to keep rates on hold Global crypto market cap hovers around $1.2 trillion […]

Oil rally capped, Gold finds its pre-FOMC decision range, RFK Jr talks Bitcoin

EIA Report showed Cushing stockpiles declined most since October 2021 Fed rate cut bets for December 13th FOMC meeting rise to 24.0% Bitcoin bulls nervous a US ETF launch could trigger a similar Bitcoin futures collapse Oil Crude prices tentatively rose but gains were capped as Russian exports are expected to rise and as the […]

Oil reaches 3-month high, Gold and Bitcoin edge lower

Oil Crude prices are tentatively breaking out as expectations remain for the oil market to remain tight despite all global weakness that is emerging.  The rally in crude oil is impressive as it occurs as Europe is looking very weak right now, the US is slowing down, and China’s Politburo isn’t expected to unveil major […]

Oil rally stalls as demand softens, Gold rises post Fed

EIA Report: stockpiles  dropped 600K vs -2.12M eyed Crude production falls to 12.2 million bpd (lower boundaries of this year’s range) Gold struggles as Fed leaves door open for more hikes Oil Crude prices softened after the EIA crude oil inventory report stockpiles fell less-than-expected as surging gasoline prices weighed on demand.  Gas is almost […]

Oil and loonie flying high together again

Oil poised for best monthly performance since early 2022 Net-long positions in WTI  rise to highest levels in 3 months Goldman says global oil demand has surpassed peak set just before COVID-19 USD/CAD Canadian dollar Oil and the loonie are flying high again as global growth prospects improve and on optimism the Fed is done […]

Strong USD sends gold to a 3-week low

Crude prices rally after Saudis signal output cuts can be extended or deepened Gold struggles as bond market selloff extends; 10-year Treasury rises 11.4bps to 4.191% Bitcoin’s tight range narrows to $28,900 to $30,100 Oil Crude prices rallied after the Saudis did what everyone expected them to do, they extended output cuts.  The Saudis are […]

Week Ahead – Will US core CPI stay at the lowest levels since 2021?

US Everyone will be watching the US inflation report as a cool report could help support soft landing hopes and seal the deal for some that the Fed is done raising rates. Expectations for the July inflation report is for headline inflation to rise towards the mid-3% range, while core inflation remains steady and holding […]

EUR/USD finds support after Fed’s Harker suggests rate hikes might be over

Fed rate hike odds stumble (Sept at 13.0% of a hike, November at 20.2%) Fed’s Harker will may be at a point where it can hold rates steady Fed’s Barkin notes inflation remains too high Risk aversion was providing the dollar with some momentum but that move might have been exhausted after Fed’s Harker signaled […]

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