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Markets Weekly Outlook - Jobs Report May Lead to Cautious Fed, US CPI Next

Strong US jobs report shifts Fed rate cut expectations from 50 bps to 25 bps. Geopolitical tensions in the Middle East drive up oil prices and safe-haven assets. Upcoming US inflation data and RBNZ rate decision in focus for the week ahead. Oil prices surge on Middle East tensions, with key support and resistance levels identified.

04-10-2024 16:26 GMT by Zain Vawda

WTI Oil: Rising geopolitical risk premiums and China stimulus may have created a medium-term floor at US$67.55-65.70/barrel

The recent sell-off of 18% in WTI crude oil since August has stalled. An increase in hostilities in the Middle East and impending fiscal stimulus measures from China are likely to trigger a medium-term trend change in oil prices. Technical factors suggest a further potential rebound in WTI crude oil towards the next medium-term resistance zone at US$78.30/80.30. This is a follow-up analysis of our prior report “WTI Oil: At the risk of a further drop to retest major range support of US$73.15-71.

03-10-2024 07:54 GMT by Kelvin Wong