Market Update

WTI continues to trade choppy and within recent ranges above $100 as traders weigh geopolitics and oil reserve releases. At current levels in the $103.00 area, WTI is higher by just under $2.0 on the day. Technicals are playing an important role at present, with the 50-Day Moving Average just …

US stock index futures continued to decline for the second day in a row, as US stock indices declined significantly ahead of Wednesday’s trading session, affected by the latest negative escalations in the ongoing conflict between Russia and Ukraine. Where the futures contracts for the Dow Jones decreased to 34,411.00 …

The Russian Kremlin said that its country could default on its debt performance in theory, but this would be an artificial situation after the Ministry of Finance decided to make payments on sovereign Eurobonds in Russian rubles. The Kremlin spokesman said there are no real reasons for default, adding that …

US mortgage applications fell more than 6% last week compared to the previous week, according to the seasonally adjusted Mortgage Bankers Association index, with interest rates hiked by the US Federal Reserve. The trading volume is down about 40% compared to the same week a year ago. Higher interest rates …

Credit rating agency Standard & Poor’s Global said in a report that global sovereign borrowing will reach $10.4 trillion in 2022, about a third more than the average before the coronavirus pandemic.

Oil futures rose on Wednesday to recoup losses early in the session as supply concerns increased after new sanctions against Russia were threatened, outweighing concerns of weak demand after an increase in US crude stocks and the extension of the general closure in China’s Shanghai. Brent crude futures rose 49 …

European shares retreated from more than six-week highs on Wednesday as the United States and its allies are likely to further isolate Russia’s economy with more sanctions, boosting global inflation. The pan-European STOXX 600 index fell 0.3 percent, joining Wall Street and Asia markets, as concerns about a tightening from …

The German Factory Orders declined more than expected in February, suggesting that the recovery in the manufacturing sector of Europe’s economic powerhouse is in the doldrums. Contracts for goods ‘Made in Germany’ dropped by 2.2% on the month vs. -0.2% expected and 1.8% last, the latest data published by the …

Japan’s Nikkei index posted its biggest decline in nearly four weeks on Wednesday, tracking Wall Street as hawkish comments from US Federal Reserve officials raised the prospect of a further interest rate hike and fueled fears of slowing economic growth. The Nikkei lost 1.58 percent to close at 27,350.30 points, …

The US dollar is the most prominent winner on Tuesday, firmly up against all of major rival currencies. Diminishing chances of a diplomatic solution to the Russia-Ukraine conflict and central banks’ aggressiveness were behind the market’s movements during the US trading session.Economic DataUS Institute for Supply Management (ISM) has unfolded …