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Oil makes lots of intraday noise Oil markets had another very choppy day overnight but finished only slightly lower than the day before. Despite a strong intraday rally after Ukraine-Russia talks finished without any progress, the 7.90% US inflation print raised the spectre of more and faster tightening by the Fed, lifting recession fears and sending oil lower.

11-03-2022 04:13 GMT by Jeffrey Halley

US dollar bounces back

US dollar climbs on CPI, risk aversion The US dollar rebounded sharply after 40-year highs in inflation data and as risk sentiment soured once again over Easter Europe and the news tickers remained quiet on OPEC+ increases. US long-dated yields resumed their climb, despite a well-bid 30-year auction overnight, providing more support to the greenback.

11-03-2022 04:07 GMT by Jeffrey Halley

Asian markets seeing red before weekend

Asian equities sold heavily ahead of the weekend Although Asia has been quiet on the headline front today, the region clearly doesn’t want to carry heavy long exposures into the weekend, leading to Asian markets being sold heavily today as investors trim risk exposure. Overnight, US markets edged lower after 40-year highs in inflation raised the prospect of more Fed hikes than expected.

11-03-2022 03:46 GMT by Jeffrey Halley

Weekend risk? No thanks…

Market volatility continues Volatility continued unabated overnight, with oil trading in a USD 9.0 a barrel range, almost pedestrian by recent standards. Equities and currencies were also buffeted.

11-03-2022 03:36 GMT by Jeffrey Halley

Oil declines, gold rebounds

Oil goes for a wild ride Oil edged lower after a wild session as energy traders became worried that inflationary pressures will only get worse as this war continues and that will lead to crude demand destruction. After another hot inflation report, many investors on Wall Street are growing concerned that stagflation risks could derail the economy later this year. Adding to the pressure on crude prices is the distant possibility that OPEC+ could be serious in their contemplation of boosting oi

10-03-2022 16:19 GMT by Edward Moya

Stocks sink as high-level talks disappoint, inflation at highest in 40 years, ECB to end QE sooner, bitcoin falls

US stocks declined after both high-level talks did not produce a stop in fighting and as investors worry that war in Ukraine could lead to higher inflation for much longer. Today’s inflation report showed widespread pricing pressures before the full impact of the global shock from the Russian invasion of Ukraine. Energy costs, soft commodities, and metals will continue to see upward pressure and that will start to be sticky as wages soften.

10-03-2022 16:16 GMT by Edward Moya

Oil gains ground, gold hovers at 2K

Oil cautiously higher after mixed messages from UAE Oil prices are rising again, up around 4% on the day at one point, as talks between Ukraine and Russia give little cause for optimism. The risk of further disruption remains high, especially with more sanctions to come that will make life harder for Russia and companies less keen to do business with them. The one ray of hope comes from the UAE, following comments yesterday that suggested they favour higher output.

10-03-2022 13:23 GMT by Craig Erlam

Swift risk-reversal

European markets have made significant losses again on Thursday, as risk appetite reversed following unsuccessful talks between Ukraine and Russia. There can't have been much expectation for anything more given the wide-ranging demands and ridiculous justifications we've seen from Russia for the invasion, or "special military operation". But I guess high-level talks are a small step in the right direction which has provided some hope. With the lack of progress and the continued assault on Ukra

10-03-2022 13:18 GMT by Craig Erlam

Pound falls, US inflation jumps

GBP/USD has reversed directions on Thursday, giving up most of the gains from a day earlier. In the North American, session, GBP/USD is trading at 1.3132, down 0.41% on the day. US inflation accelerates to 7.9% In the US, headline CPI continued to accelerate, with a gain of 7.9% for February YoY.

10-03-2022 11:03 GMT by Kenneth Fisher

Dollar pushes wobbly yen above 116

The Japanese yen continues to lose ground to the US dollar. USD/JPY has climbed above the 116 line for the first time since early February.

10-03-2022 09:54 GMT by Kenneth Fisher

Euro rally pauses as ECB stays pat

ECB maintains interest rates, reduces APP The ECB held its key interest rate at 0.00% at today's meeting, as was expected. The central bank reduced purchases under the Asset Purchase Program (APP), which had been set in February at EUR 40 billion throughout the second quarter.

10-03-2022 07:53 GMT by Kenneth Fisher

Oil and gold head south

Oil prices collapse on UAE/OPEC comments Oil’s volatility reached new levels of insanity overnight, with Brent crude trading in a USD 25 intra-day range. Oil prices were moving lower on Ukraine compromise hopes already from earlier in the day, when the UAE comments about asking OPEC+ to raise production to send oil prices into a tailspin.

10-03-2022 05:56 GMT by Jeffrey Halley

US dollar retreats on Ukraine hopes

US dollar eases In keeping with the price action in other asset classes, the US dollar staged a sharp retreat overnight on Ukrainian and energy hopes. The dollar index tumbled by 1.10% to 98.00, before creeping up with oil prices this morning to 98.13.

10-03-2022 05:42 GMT by Jeffrey Halley

Asian equities are flying

Asian equities jump on oil slide, Ukraine hopes With oil prices crashing overnight, and tenuous hopes that a Ukraine resolution was on the table, equity markets saw a biblical stampede of bottom-fishers pouring into equity markets, sending them soaring. The S&P 500 leapt 2.57% higher, while the Nasdaq rocketed 3.59% higher, helped by an Amazon stock-split announcement.

10-03-2022 05:00 GMT by Jeffrey Halley

The Texas whipsaw massacre

Markets remain turbulent Volatility continues to be the winner overnight, particularly in the commodity space as the street engaged in its latest grasping at straws attempt to price in “peak-Ukraine.” European equity markets got the ball rolling, hoovering up equities on Ukraine-Russia reproachment hopes ahead of a meeting between the two sides in Turkey today. Ukraine’s President also said yesterday morning that he was open to neutrality and not joining NATO.

10-03-2022 04:31 GMT by Jeffrey Halley

Oil down 10% from Sunday's high, gold pivots at USD 2000

Oil Crude prices are declining after Ukraine President Zelensky signaled he has 'cooled down' regarding the question of Ukraine joining NATO and as optimism grows that the economic impact of sanctions is weighing on the Russian economy and that President Putin might try to avoid a long war. Adding to the earlier selling pressure was the IEA breakdown of 62.7 million barrels emergency oil stocks. The world is working together to tackle surging oil prices and that has put a short-term top for c

09-03-2022 12:33 GMT by Edward Moya

Risk appetite is back in town, commodity rally hits a peak, bitcoin embraces risk-on mood

US stocks are rebounding as Wall Street embraces the exhaustion with the pricing surge across the commodity complex. It has been almost two weeks since Russia invaded Ukraine and it appears that traders are becoming a little optimistic a compromise could happen after Ukrainian President Zelensky’s comment that he had “cooled down” about Ukraine’s bid to join NATO, which was one of the driving factors behind Russian's invasion. He also noted that he is open to compromise with the status of the

09-03-2022 12:27 GMT by Edward Moya

Oil volatile, gold drops below USD 2000

Another volatile session for oil It's been another incredibly volatile day in the oil market, with Brent crude at one point rising a few percent before reversing course to trade down more than 5% on the day. This comes as it continued to see resistance around USD 130 following the US and UK decisions to ban and phase out Russian oil imports. With the EU not joining them, due to their far heavier reliance on Russian oil, and instead looking to do so over a much longer period, the price never ra

09-03-2022 11:57 GMT by Craig Erlam

A premature rebound?

Equity markets bounce back Stock markets are rebounding strongly on Wednesday, with Europe posting gains of up to 5% as investors question whether the worst is already priced in. I'm certainly not convinced that this is the case but stocks have fallen a lot in recent weeks and comments from President Zelensky around NATO membership could be viewed as a first and important step towards a compromise between Ukraine and Russia. Perhaps what we're therefore seeing is a hopeful rally rather than o

09-03-2022 11:49 GMT by Craig Erlam

Sterling moves higher as dollar dips

The British pound is in positive territory, as the US dollar has retreated against the major currencies for the first time in five days. GBP/USD is trading at 1.3169 in the North American session, up 0.52% on the day. The US dollar has had its way with the pound in recent sessions, but GBP/USD has reversed directions today.

09-03-2022 11:36 GMT by Kenneth Fisher

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