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Gold - Running out of steam?
Rally continues after US inflation data Gold is continuing to rally on Thursday and is on course to register an eighth day of gains in the last nine. That's not bad considering markets are continuing to price in more and more rate hikes from central banks around the world this year. But perhaps that's also the problem. This isn't a gradual tightening process.
10-02-2022 11:11 GMT by Craig Erlam
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Crude steady, gold pauses ahead of CPI
Crude prices remain elevated despite progress on nuclear talks Oil prices are marginally lower this morning but Brent crude remains above USD 90 and WTI is only a little shy of it. Prices rose a little on Wednesday after a couple of days of losses following the EIA inventory report, which showed a surprising 4.8 million barrel drawdown. This came as talks appear to be moving in the right direction between the US and Iran, which could see more than a million barrels re-enter the market.
10-02-2022 05:38 GMT by Craig Erlam
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Canadian dollar edges higher
The Canadian dollar has posted slight gains on Wednesday. There are no Canadian tier-1 events on the calendar this week, so we can expect US releases will have a magnified impact on the movement of the Canadian dollar this week. With the Fed poised to launch a series of rate hikes starting in March and inflation surging in Canada, it's unlikely that the Bank of Canada will simply fold its hands.
09-02-2022 13:01 GMT by Kenneth Fisher
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Oil pops on surprise draw, gold firm ahead of CPI
Oil rallies on tight supplies Oil rallied after a surprise crude draw reinforced how tight the oil market remains.  Crude prices have too many catalysts that support a move to USD 100 oil in the near future: Geopolitical tensions across Europe and the Middle East should remain wildcards for oil, crude demand continues to improve as large parts of the world return to normal travel behavior, and as OPEC and non-OPEC output gradually increases. The weekly EIA crude oil inventory report showed sto
09-02-2022 12:19 GMT by Edward Moya
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Bond market selloff can’t continue until CPI data, stocks rebound on Bostic and as yields drop, bitcoin eases
US stocks are rising after both Fed’s Bostic assuaged investor fears of an overly aggressive Fed tightening cycle and as the global bond market selloff takes a break in anticipation of tomorrow’s inflation report. Fixed-income traders made it clear early that the 10-year Treasury yield would not break above the 2.00% level before Thursday’s inflation data.
09-02-2022 12:13 GMT by Edward Moya
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Oil dips as Iran talks continue, gold flat
Oil eases as talks continue Oil prices are continuing to soften on Wednesday, as traders continue to weigh up the prospect of a nuclear deal between the US and Iran that could see more than a million barrels of oil flood the market at a time when it's very much needed. One eye will also be on the EIA inventory data after API reported a more than two million barrel drawdown on Tuesday. WTI has slipped back below USD 90 but Brent is continuing to hold around there, after finding strong support o
09-02-2022 08:39 GMT by Craig Erlam
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Confidence building
Stock markets are making decent gains in Europe on Wednesday and US futures are also being led higher as confidence continues to build following a torrid start to the year. Investors' mood brightens It's hard to pinpoint exactly what has changed; whether it's earnings that are lifting the mood or the soothing tones of central bankers desperately trying to manage expectations. Perhaps it's simply a case of investors coming to terms with the tightening environment and feeling more comfortable wi
09-02-2022 08:34 GMT by Craig Erlam
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Oil eases, gold extends rally
Oil pares gains as nuclear talks continue The oil price rally is cooling on Tuesday as the US and Iran indirectly continue talks over the nuclear deal that could see more than a million barrels quickly come back online. It couldn't come at a better time given how tight the market is, not to mention politically for President Biden ahead of the midterms.
08-02-2022 13:53 GMT by Craig Erlam
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Optimism ahead of Fed and inflation data
We're seeing further signs of stabilization in the markets on Tuesday, as the relatively peaceful start to the week continues. It's been a wild start to the year and it seems investors are embracing the less intense start to the week, probably with an eye on what's to come over the next couple of days. Recent weeks have brought so much anxiety to financial markets as yields have accelerated higher in anticipation of a series of rate hikes from central banks. The inflation data has continued to
08-02-2022 13:46 GMT by Craig Erlam
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Crude drops while gold shines
Oil extends losses Crude prices extended declines on a possible de-escalation with the Ukraine situation and possible progress with Iran nuclear talks. This was an easy trade for energy traders as the bullish run higher has clearly hit some exhaustion.  Oil’s weakness was primarily from incremental progress over geopolitical tensions and a stronger dollar that emerged from rising Treasury yields. The focus will shift to US stockpiles and expectations are for inventories to post a modest build.
08-02-2022 12:22 GMT by Edward Moya
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Australian dollar pauses after strong gains
The Australian dollar is showing limited movement on Tuesday, after posting sharp gains at the start of the week. In the North American session, AUD/USD is trading at 0.7133, up 0.10% on the day. There are no tier-1 events out of Australia this week, but the data released this week is pointing upwards.
08-02-2022 11:34 GMT by Kenneth Fisher
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US Close: Slow Start for Stocks, Lagarde pushes back, Oil rally pauses, Gold rallies, Bitcoin momo is back
US stocks will struggle for direction until the latest inflation tilts market’s expectations as to how aggressive the Fed will tighten into what is still deemed as an overvalued stock market.  Wall Street saw early selling pressure for tech stocks as investors still digest a wrath of disappointing outlooks and surging borrowing costs. Technology stocks are no longer a one-way trade as investors cut losses and now focus on valuations, competition, and long-term outlooks. FX Financial markets are
07-02-2022 16:29 GMT by Edward Moya
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Cdn. dollar rebounds after soft job data
The Canadian dollar has started the week with strong gains, recovering after sharp losses at the end of the week. There are no Canadian tier-1 events on the calendar, so US numbers will have a magnified impact on the movement of the Canadian dollar. The US nonfarm payrolls outperformed in spectacular style, posting a gain of 467 thousand jobs in January.
07-02-2022 11:48 GMT by Kenneth Fisher
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A calm start to the week
It's been a relatively timid start to the week which is perhaps not overly surprising given the rather eventful period we've just experienced. Going into a new week, the dominant theme in the market is the same and will be for some time. The last couple of weeks has only elevated that as central banks have shifted into a higher gear and markets have continued to price in ever more tightening. In the case of the ECB, a handbrake turn on interest rates has certainly not gone unnoticed and everyo
07-02-2022 10:55 GMT by Craig Erlam
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