Energy news

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USD/JPY higher on strong demand for 10-year notes; Commodities diverge

Thursday's inflation report to seal the deal for a Fed hold in September Treasury sells 10-year notes with strong demand as yields drop China deflation raises prospects of more stimulus USD/JPY rose after a strong auction signaled that Wall Street is very confident that inflation will continue to fall. It looks like investors will gladly be eating all the extra issuance that comes from the Treasury.

09-08-2023 15:44 GMT by Edward Moya

Brent Crude - Another recovery but it's far from convincing

Chinese trade data only a temporary distraction Recovery not as bullish as it first appears Divergence a red flag Oil prices are advancing again today after briefly dipping on Tuesday following some weaker Chinese trade figures. While that data did appear to trigger some profit-taking in crude, it was never going to be a game-changer as oil market dynamics have turned much more bullish recently. Furthermore, weak global trade and an uninspiring Chinese rebound this year are not new stories.

09-08-2023 10:37 GMT by Craig Erlam