Market Update

The WTI crude oil has advanced into the $78.00s, up $4.0 from earlier weekly lows and back to pre-Omicron levels. Oil prices have shrugged off a bearish weekly US oil inventory report as post-OPEC+ meeting optimism continues on the immediate next trading session.Oil markets have shrugged off bearish weekly US …

US crude oil inventories fell by 2.144 million barrels in the week ending December 31st, a sixth consecutive period of declines and compared with market forecasts of a 3.283 million drop, data from the EIA Petroleum Status Report showed on Wednesday. Meanwhile, gasoline inventories surged by 10.128 million barrels, the …

The S&P 500 is a little lower but trading within recent ranges under 4800 ahead of the Fed minutes release. Growth continues to underperform value, meaning the Nasdaq 100 is performing poorly while the Dow is holding up better.US shares are mixed in the run-up to the release of the …

The USD/CAD pair has traded indecisively on Wednesday and is one of the worst G10 performers despite higher oil prices.A hot US ADP report and mixed Canadian housing data was ignored, with markets focused on the Fed’s December meeting minutes.USD/CAD has traded hesitantly within a relatively thin 1.2700-1.2750 range, roughly …

The total sales of Evergrande, the Chinese real estate developer, declined in 2021 by 39% to 443 billion yuan, or 69 billion dollars, from 723 billion yuan in 2020. It is reported that the company’s shares were suspended from trading on the Hong Kong Stock Exchange on January 3, as …

China cut the quota of its fuel exports by more than half, in the first announcement of quotas in 2022, as part of the Asian country’s strategy to reduce its foreign sales. China has allocated 13 million tons of the fuel for export, according to a source familiar with the …

European shares lost steam on Wednesday after kicking off the new year with record highs as rising US bond yields and regulatory concerns in China worried investors. The pan-European STOXX 600 index rose 0.03 percent by 0816 GMT, with shares in the auto, chemical, and oil and gas sectors gaining …

Oil prices stabilized on Wednesday as investors weighed the impact of a massive spike in omicron cases from the coronavirus, but the upside remained limited after rising US fuel stocks. Brent crude, the global benchmark, was down four cents at $80.04 a barrel. US West Texas Intermediate crude futures rose …

Japan’s Nikkei index closed slightly higher on Wednesday, as gains in blue-chip stocks such as Sony Group and Toyota Motor outweighed declines in technology heavyweights on fears of a faster-than-expected US interest rate hike. On Wednesday, the Nikkei index closed up 0.1 percent to 2,9332.16 points after falling more than …

Major currencies and other assets are still maneuvering to find their way amidst uncertainties imposed by the worldwide pandemic. The US dollar kept advancing on Tuesday, posting the most advance against the Japanese yen. USD/JPY pair jumped to 116.34, its highest since January 2017, as the dollar surged alongside US …