Friday witnessed losses of both ProShares Ultra Bloomberg Natural Gas and the US Natural Gas Fund by almost 13% and 6.6%, respectively, during midday trading. Two of the largest energy-focused ETFs, the Energy Select Sector SPDR Fund and the iShares U.S. Oil & Gas Exploration & Production ETF , both …
Read More »BoE sells GBP 1.4 bln of long-dated and index-linked bonds
The Bank of England sold GBP 1.412 billion of long-dated and index-linked gilts on Friday, taking to 3.65 billion pounds the total volume of gilts it has sold since starting to unwind earlier emergency purchases on Tuesday.Friday’s sale was the third this week, as the BoE looks forward to unwinding …
Read More »Oil price steadies ahead of Russian oil cap enactment, OPEC+ meeting
Oil future contracts changed a little bit during the choppy trading session on Friday ahead of the meeting of OPEC+ scheduled for Sunday and an EU ban on Russian crude which will come in force as of Monday, December 5.WTI crude futures rose 11 cents, or 0.1%, to $81.35 per …
Read More »Fed’s Evans expects higher peak rate despite slower hiking
Chicago Fed President Charles Evans said on Friday “We are probably going to have a slightly higher peak to Fed policy rate even as we slow pace of rate hikes,”, as reported by Reuters.Evans noted that policymakers are “on a path to getting financial conditions appropriately restrictive to bring inflation …
Read More »Wall Street Edges Lower On NFP Data
Wall Street’s main indexes opened lower on Friday as better-than-expected job additions in November poured cold water on investor expectations of the Fed its aggressive monetary policy tightening.The Dow Jones Industrial Average fell 129.6 points, or 0.38%, at the open to 34265.45. The S&P 500 fell 36.4 points, or 0.89%, …
Read More »GBP/USD poised for additional weakness on positive NFP data
The GBP/USD pair retreated from around 1.2290s close to 100 pips after the release of better-than-expected labour market report in the United States, suggesting that further central bank tightening will be required.However, after the US employment report, the GBP/USD is trading around 1.2210s, after traveling towards its daily low of …
Read More »Market Drovers -US Session 1/12/2022
The US Dollar kept extending its decline to multi-month lows against most of its major rivals amid persistent optimism and weak US data, in addition to the general mood triggered by Fed’s signls concerning tightening the US monetary policy at a slower pace.On Friday, the US will publish the Nonfarm …
Read More »Dollar Falls, Wall Street Mixed Ahead of NFP data
The performance of US shares is mixed on Thursday as a selloff in Salesforce impacted the Dow Jones, while traders are busy; digesting a fresh batch of US economic data which generally indicate that the Fed’s interest rate hikes are working towards their aspired target.On Wednesday, US manufacturing activity shrank …
Read More »NFP Preview: Jobs could surge by 208,000
On Friday, all eyes will be on the US non-farm payrolls reading during the first week of a new month. The all-important data will be attentively watched by all market players to see whether the aggressive rate-rising policy of the US central bank is knocking the labour market which has …
Read More »USD/CAD fluctuates following US manufacturing data
The USD/CAD pair stopped its slump following US data that signaled further retreating economic activity in United States.The weaker-than-expected US ISM Manufacturing PMI triggered a fresh wave of Risk aversion in addition to comments by Fed’s Bowman who said there’s work to do by the US central bank.The USD/CAD pair …
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