Market Update

The supplies of fuel oil in the United States, including diesel and heating oil, have fallen, and refineries are finding it difficult to refill their stocks, which could keep prices high for months. Demand for diesel, heating oil and other petroleum products has been increasing for months, more than pre-pandemic …

Commodity-linked currencies were little changed against the greenback. AUD/USD is unchanged at around 0.7130, while USD/CAD hovers around 1.2670.The USD/JPY nears 115.00 at the end of the American session, as government bond yields edged higher. The yield on the 10-year Treasury note is currently at 1.82%.Gold trimmed intraday losses and …

The largest cryptocurrency by market capitalization retreated before recovering ground later in the day. Bitcoin’s price was roughly flat over the past 24 hours, while its spot volume reduced further.Bitcoin ‘s price late Thursday was roughly flat after dipping in earlier in the day, while spot trading volume remained muted. …

Cabinet Ministers believe there is a 50/50 chance that Boris Johnson will be forced out of office after four of his most senior aides quit 10 Downing Street and his Chancellor publicly rebuked him,” said the Times while conveying political hardships for UK’s Johnson during early Friday morning in Asia.Dan …

Treasury yields rose on Thursday as investors remained focused on the upcoming key NFP data. The yield on the benchmark 10-year Treasury note climbed 6 basis points to 1.831%. The yield on the 30-year Treasury bond added 5 basis points to reach 2.152%.Yields move inversely to prices and 1 basis …

The latest batch of Canadian employment data will hit the markets on Friday. So far, it looks that the Omicron wave hit the labour market in January, with forecasts pointing to a drop of jobs. This is probably a temporary setback. The loonie has been driven mostly by risk sentiment …

Data released on Thursday showed the ISM Service Index dropped to the lowest level in 11 months in January. Analysts at Wells Fargo point out it reflects how a lack of available workers and persistent supply shortages “are weighing on firms’ ability to keep up with activity in the service …

At 0.6661, the bulls are in charge and the bird of 0.5% higher on Thursday’s business in the remaining hour of the US trading session. The price has climbed from a low of 0.6609 to score a high of 0.6681 so far as traders await the outcome of Friday’s US …

Front-month WTI futures surged above the $90.00 level for the first time since 2014 in recent trade on Thursday, taking their on-the-day gains to more than $2.0, which would mark the best one-day performance in three weeks. No specific one fundamental catalyst can be singled out as behind the recent …

The S&P 500 slumped back below the 4500 level on Thursday, dropping over 2.0% on the day. Equity market sentiment took a battering after dour earnings guidance from tech giant Meta Platforms (Facebook). Focus has shifted to Amazon earnings after the closing bell and Friday’s US jobs report. Major US …