EIA Crude Oil Inventory Report expected at 11am EST. **Note API reported 4.4million draw last night. Fed’s rate path remains key for gold traders Bitcoin momentum capped on rising expectations BlackRock will get a US Bitcoin ETF approved Oil Crude prices got a boost after the API report showed stockpiles declined by 4.4 million barrels […]
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 […]
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 […]
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 […]
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 […]
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 […]
US The Fed is expected to resume raising rates at the July 26th FOMC meeting. Fed funds futures see a 96% chance that the central bank will deliver a quarter-point rate rise, bringing the target range to between 5.25% and 5.50%, almost a 22-year high. The Fed delivered 10 straight rate increases and then paused […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
US 10-year tips yield rise to the highest levels since 2009 NY Fed near-term inflation falls to lowest levels since 2021 Nasdaq rebounds as AI trade returns Summer trading and some choppiness has helped the US dollar continue to rally as rates remain volatile. It has not been a smooth ride for the dollar as […]
Walmart CEO is more optimistic about spending patterns than he did 3 months ago Dollar’s five-day rally halted as yen and yuan rebound Fed could remain in hiking mode if economic resilience prevents inflation from coming down Now that we heard from Walmart, it is clear that the US consumer is still willing to spend. […]
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss Wall Street’s reaction to a complicated US inflation report. They also outline the state of the oil market and why it will remain tight going into the winter. They also discuss the impact from the US […]
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the US jobs report and what it means ahead of the Federal Reserve meeting next week. Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not […]
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to look ahead to Thursday’s US inflation release and discuss the accidental bitcoin ETF announcement by the SEC on its “compromised” X account which was expected to be followed by an official announcement shortly after. Content is for general information purposes only. It […]
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the recent US data, RBNZ rate decision and the latest rally in bitcoin. Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of […]
