Market Update

The KSA boosted prices just after refusing to bend to U.S. pressure to pump more crude oil. With OPEC unanimously agreeing to stick to its plans, attention now turns to whether U.S. President Joe Biden will respond.The total active U.S. rig count, which includes those drilling for natural gas, climbed …

The U. S. dollar jumped on Friday to hit highest level in a year, after official data revealed more solid U.S. job growth in October, but the American currency retreated in late trading as risk appetite improved and stocks surged.NFP increased by 531,000 jobs last month, above expected 450,000, as …

The S&P 500 Index as well as other major U. S. equity indices witnessed a strong end to a strong week. The S&P 500 clinched a seventh successive record session close at 4697 after briefly surpassing the 4700 level intraday.The index ended the week up over 2.0% on the week, …

The surge in the prices of commodities has been unprecedented since mid-2020, predictably resulting in calls that a new supercycle is proceeding. Supply-demand imbalances are plaguing the globe and boosting prices further. But one topic that is gaining more and more significance in 2021 is that a number of commodities …

The Canadian dollar failed to benefit from the strong Canadian labour market released Friday, much like the U. S. dollar and the USD/CAD pair is settling in neutral territory on the day around the 1.2450 mark. The pair has been subject to significant retreat in recent days, together with the …

Oil trimmed its weekly loss as Saudi Arabia increased prices for its global crude exports and the U.S. is still considering a potential release of oil from the strategic reserve.Crude oil in New York session smoothed its weekly loss to 2.8%, rising sharply late in the session Friday after Saudi …

The Reserve Bank of Australia has used Friday’s quarterly assessment of the economy to announce that lockdown has delayed but not derailed the nation’s economic recovery.It says economic activity probably contracted by 2.5% in the three months to last September, but the Q4 could regain most of the previous losses, …

U. S. logistics still need time to catch up with manufacturing pace. Improving conditions for supply chain labour is an efficient solution. Some call for changing the U. S. transportation age and drug testing rules by the Transportation Department for truck drivers to make taking these jobs easier.Others urge the …

The total active U.S. rig count, which includes those drilling for natural gas, climbed by six to stand at 550, according to Baker Hughes. December West Texas Intermediate crude continued to trade sharply higher, up $2.40, or 3.1%, at $81.21 a barrel on the New York Mercantile Exchange.U.S. energy firms …

Treasury yield on 10-year bonds slides below 1.5%, extending a remarkably volatile week. U.S. government bonds rallied after a better-than-expected jobs report Friday, sending the yield on the benchmark 10-year Treasury note below 1.5% for the first time in about a month.The yield on the 10-year note recently traded at …