Volatility and inflation have been among the most significant key drivers throughout the trading week amid trepulent geopolitical developments with undeniable economic impact across financial market.Inflation Still Biggest RiskData released on Thursday showed that the US consumer price index (CPI) grew 7.9% year-on-year and 0.8% month-on-month in February. The core …
Read More »Market Drivers – US Session – 11 March
Friday’s trading day fluctuated between risk-on/off, on reports from Russia saying that its President Putin seen certain positive shifts in talks with Ukraine, while Ukraine Foreign Minister, saying the opposite. That said, the GBP/USD is trading at 1.3035, down 0.39%.Economic DataUS energy firms this week added oil and natural gas …
Read More »US Drillers Add Oil, Gas Rigs For Ninth Time In Ten Weeks
US energy firms this week added oil and natural gas rigs for the ninth time in 10 weeks after Russia’s invasion of Ukraine drove crude prices to their highest since 2008.The oil and gas rig count, an early indicator of future output, rose 13 to 663 in the week to …
Read More »Can Global Economy Go Ahead Without Russian Commodities?
Russia ranks number one, two and three, among the world’s exporters of natural gas, oil and coal, respectively. Europe gets most of its energy needs from Russia. Russia also accounts for half of US uranium imports. It supplies a tenth of the world’s aluminium and copper, and a fifth of …
Read More »Gold To Fall Toward $1,950, $1,940 On Hawkish Fed
Gold has reversed its direction after rallying toward new all-time highs. The precious metal is set to extend its downward correction on a hawkish US Federal Reserve.The Fed is widely expected to kick off its tightening cycle with a 25 basis points rate hike when the two-day FOMC policy meeting …
Read More »WTI set to end historically volatile week under $110
After a historically volatile week, WTI is more subdued on Friday, remaining capped under $110 but supported above $104. WTI is on course for a weekly drop of over $7.0, which would be its worst one-week performance since November.Global oil markets look set to end a historic week of energy-related …
Read More »Gold is Falling, But is Heading For The Second Weekly Gain in a Row
Gold fell on Friday, as US Treasury yields rose overnight on data pointing to a sharp rise in inflation, but prices are heading for their second consecutive weekly gain after no progress in talks between Russia and Ukraine. Gold fell in spot transactions 0.6 percent to $ 1984.91 an ounce. …
Read More »Top energy companies prepare to launch new $1 bln clean tech fund -sources
A group of the world’s largest oil and gas companies is preparing to launch a new fund worth more than $1 billion to invest in new technology-focused on reducing greenhouse gas emissions from energy use, sources said on Thursday. The Oil and Gas Climate Initiative, which brings together 12 of …
Read More »Market Drivers – US Session – 10 March
The US dollar index has rebounded sharply from 97.72 on Thursday and is settling above 98.50 as inflation levels in the US hit skyscrapers.The USD managed to post gains vs its European rivals and the JPY but lower against commodity-linked currencies.Economic Data:The US Bureau of Labor Statistics reported the US …
Read More »Natural Gas Trade Sideways Ahead Of Weather-Based Demand
Natural gas prices held in a narrow range Wednesday, flipping between modest gains and losses as traders balanced global supply worries amid the war in Ukraine against the prospect of fading domestic demand.The April Nymex gas futures contract ultimately shed a tenth of a cent day/day and closed at $4.526/MMBtu. …
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