AUD/USD is correcting a rally that started at the start of the European session as global commodity prices have steadied after their recent surge while investors sought some sense of how long the Russian-Ukraine conflict might last. The AUD/USD pair is trading at 0.7317, up some 0.70% and has traveled …
Read More »Dollar firms vs yen, slips vs Aussie as markets eye post-shutdown data; sterling softens on UK jobs
The U.S. dollar posted a mixed performance in Asia on Tuesday, rising against the safe-haven yen but…
UK unemployment ticks up as pay growth cools, bolstering case for a December BoE cut
The UK labour market lost further momentum into autumn, with unemployment rising and wage pressures …
Asia stocks mixed as tech rebound lifts Japan and Korea; China lags on growth worries
Asian equities delivered a split performance on Tuesday, with Japan and South Korea extending gains …
Markets Await Key Job Reports as Hopes Rise for End to U.S. Government Shutdown
The U.S. dollar started the week without a clear direction as investors grew more optimistic about a…
U.S. Shutdown Deal Nears Finish Line, But Health Care Fight Still Looms
Congress appears to be nearing the end of the longest government shutdown in American history, as Se…
Dow Jones Eyes Recovery as Government Shutdown Hopes Lift Markets
The Dow Jones Industrial Average started the week holding steady near the 47,000 mark, as investors …
Gold Shines as Market Optimism Rises Amid US Dollar Recovery
Gold surged at the start of the week, climbing above $4,090 per ounce, as investors weighed easing e…
Bitcoin Steadies as Optimism Grows Over U.S. Regulatory Shift
Bitcoin held steady above the $105,800 mark, showing daily surge of 1,09%, after weeks of sharp swin…
Fed’s Miran Says Inflation Is Easing, Backs Continued Rate Cuts
Federal Reserve Governor Stephen Miran expressed optimism about the U.S. inflation outlook, stating …
US Dollar Steadies as Senate Moves to Avert Government Shutdown
The US dollar held firm on Monday after the Senate approved a short-term funding bill to keep the go…
Market Analysis
March, 2022
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9 March 2022 10:07 pm
WTI Drops Over Zelensky’s Compromise Statements
Front-month WTI futures saw a sharp, sudden drop in recent trade, falling from the $116/barrel area to print daily lows in the $104/barrel area in a matter of minutes, before recovering to around $110 once more where it now trades down over $14 on the day. Ukrainian President Volodymyr Zelenskyy …
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9 March 2022 9:50 pm
US Job Openings Flat In January Vs. December’s Record
Data released on Wednesday showed there were 11.263 million job openings in the United States in January, marking a slight decline from the prior month’s upwardly revised, and record high, number, according to the labour Department.Analysts expected the number to hold steady at December’s previously stated 10.925 million.The phrase ‘little …
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9 March 2022 9:12 pm
The UAE To Encourage Fellow OPEC Members To Boost Oil Production
The UAE is set to encourage fellow OPEC nations to increase oil production levels given that the Russian invasion of Ukraine has pushed crude oil prices to their highest level in more than ten years, a senior official said on Wednesday, according to the Financial Times. In a statement to …
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9 March 2022 8:47 pm
Fed Not Expected To Announce Balance Sheet Reductions Next Week
A rate hike by the US Fed next week is broadely expected, even despite the recent turmoil across financial markets. According to analysts at Wells Fargo, the chance of a 50 bps interest rate hike “has fallen tremendously given the souring outlook to growth amid higher commodity prices.”Economists believe it …
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9 March 2022 8:17 pm
US Shares Surge On Risk Appetite Returns
US equities are rebounding this Wednesday, with touted bargain hunting/dip-buying driving the recovery as commodities ease back from Tuesday’s peaks.The S&P 500 rallied 2.4%, the Dow 2.0% and the Nasdaq 100 3.0%, though investors remain cautious amid geopolitical risks. Following four straight sessions of losses, US equities are enjoying a …
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9 March 2022 7:25 pm
Gold Stabilizes Over Positive Geopolitical Developments
Gold Price trades stable just below the $2,000 mark, having found a new temporal balance just ahead of the critical level. Risk appetite returned to trading boards amid hopes the Ukraine-Russia crisis could recede after two weeks. Earlier today, Ukrainian President Zelenskyy’s aide said that the country is ready for …
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9 March 2022 6:26 pm
How Much Oil Does The U.S. Get From Russia
Today, President Biden will sign an Executive Order to ban the import of Russian oil, liquefied natural gas, and coal to the United States – a significant action with widespread bipartisan support that will further deprive President Putin of the economic resources he uses to continue his needless war. The …
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9 March 2022 6:10 pm
Market Drivers – European Session 9-3-2022
The EU announced on Wednesday that it is to restrict the provision of SWIFT services to major Belarussian banks, including Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus, as well as their Belarusian subsidiaries, reported Reuters. The EU will also prohibit transactions with the Central Bank …
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9 March 2022 5:09 pm
Britain to Increase Oil Production After Cutting Russian Imports
Britain will increase its oil and gas production, Transport Secretary Grant Shapps said on Wednesday, after it said it would ban Russian oil supplies at the end of the year. Britain said on Tuesday it would phase out imports of Russian oil and petroleum products by the end of 2022 …
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9 March 2022 4:47 pm
EU announces new sanctions on Belarussian banks
The EU announced on Wednesday that it is to restrict the provision of SWIFT services to major Belarussian banks, including Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus, as well as their Belarusian subsidiaries, reported Reuters. The EU will also prohibit transactions with the Central Bank …
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9 March 2022 3:05 pm
European Shares Rebound After 4 Days of Selling
European shares rebounded on Wednesday as investors picked stocks that were battered in a recent market sell-off on concerns about mounting Western sanctions against Russia after its invasion of Ukraine. The pan-European Stoxx 600 index rose 2.6 percent after a series of four-day losses. The hard-hit banking, travel, and leisure …
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9 March 2022 2:05 pm
Oil Continues to Rise After The US Ban on Russian Imports
Oil prices rose on Wednesday amid fears of a potential supply shock after the United States banned Russian oil imports and amid signs that some buyers are already avoiding them. Brent crude futures rose $2.91, or 2.27 percent, to $130.89 a barrel, after jumping 3.9 percent the previous day. US …
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