Market Update

Oil prices fell on Friday, heading towards a weekly decline of about four percent, affected by expectations of higher interest rates, weak global growth and restrictions to combat Covid-19 in China, which negatively affected demand, although the European Union is considering banning Russian oil imports. By 0130 GMT, Brent crude …

Risk-off trading conditions, triggered by soaring US yields amid hawkish Fed language, led US equities to retreat on Thursday and the safe-haven US dollar has the chance to outperform, against its more risk-sensitive G10 peers mainly the other non-US dollars. The Dollar Index reversed an earlier dip below the 100.00 …

The odds of a 50 bps interest rate hike have elevated after Fed Powell’s comments at the IMF meeting. Higher inflation pressures in a very tight labor market are compelling for squeezing the liquidity. A double bottom formation has raised expectations of a reversal in the gold prices.Gold price has …

UK prepares law to give ministers power to tear up Northern Ireland post-Brexit trade deal. The UK government is preparing a legislation that will give ministers sweeping powers to tear up the post-Brexit deal governing trade in NI. Meanwhile, David Frost who negotiated the Brexit deal, and other senior Conservatives, …

Risk-off trading conditions, triggered in part by a rise in US yields amid hawkish Fed rhetoric, saw US equities dip on Thursday and the safe-haven US dollar outperform, especially against its more risk-sensitive G10 peers like the Australian, New Zealand and Canadian dollars. The US Dollar Index (DXY) reversed an …

Major US equity indices reversed early gains on Thursday amid hawkish comments from Fed Chair Powell. The S&P 500 dipped back to 4,400, having earlier rallied above 4,500 on initial strength related to strong Tesla earnings.Major US equity indices reversed early gains on Thursday as US yields rallied following hawkish …

Piper Sandler commodity analysts updated the bank’s US natural gas forecast Thursday, flagging increased exports, increased demand and “pervasive capital discipline” all leading to higher medium-term natural gas prices (UNG).Analysts now see Henry Hub (NG1:COM) averaging $6.50 in 2022, $5.50 in 2023 and $4.00 long-term; compared to prior estimates of …

US stocks fell as the selloff in Treasuries resumed, with traders bracing for the possibility of more aggressive policy tightening by the Federal Reserve. Meanwhile, the US dollar is gaining momentum.Treasury yields rose across the curve, with the policy-sensitive two-year rate climbing as much as 15 basis points 2.73% as …

Western countries should not appease Russia following its invasion of Ukraine even if there are difficult economic consequences, Bank of England Governor Andrew Bailey said on Thursday. “What Russia is doing in Ukraine is appalling,” Bailey said at a discussion in Washington hosted by the Peterson Institute for International Economics.“My …

Fed Chairman Jerome Powell on Thursday said the central bank is committed to raising rates “expeditiously” to bring down inflation. When asked about the topic of inflation at an IMF panel, Powell noted that the Fed is no longer counting on inflation coming back down, as these expectations of supply-side …