Risk aversion has been the one big title for financial markets during the North American trading session. The US dollar slid against major rivals in the last trading session of the day. Lower Treasury yields hindered demand for the dollar because the 10-y note yields 2.97%, after peaking earlier in …
Read More »Europe may ban Russian oil ‘within days’
Germany announced that the European Union is likely to agree to a ban on Russian oil imports “within days”. At the same time, Moscow said it would work to strengthen its economic ties with China after it fell under the guillotine of Western isolation over its invasion of Ukraine. Ukrainian …
Read More »Market Drivers – US Session – Friday 20 May
The negative market mood increased appetite for safe-haven peers in the forex space, particularly the USD, while the JPY is the weakest on the week’s last trading day. US equities plunged between 1.51% and 2.49%, reaching fresh 52-week lows. That despite investors’ cheered rate cut of 0.15% by the Bank …
Read More »Agency: Russian oil production rises 1.7% month-on-month in May so far
Russia’s average production of oil and gas condensate increased by about 1.7 percent on a monthly basis to 1.4 million tons per day (10.25 million barrels per day) in the first half of May, Interfax news agency reported, citing a source. It also said that Russian oil exports – excluding …
Read More »Russian Ruble Best Gainer In 2022
The Russian currency has reportedly made large gains in spite of the sanctions imposed on Moscow by the United States and Washington’s allies.The US and EU attempted to cripple the Russian economy, but the value of the ruble is heading up. After two months of imposing state-crushing sanctions, the ruble …
Read More »US Dollar Benefits From Hawkish Fed Language, Euro In Demand
Risk-off trading conditions, triggered in part by a rise in US yields amid hawkish Fed rhetoric, saw US equities dip on Thursday and the safe-haven US dollar outperform, especially against its more risk-sensitive G10 peers like the Australian, New Zealand and Canadian dollars. The US Dollar Index (DXY) reversed an …
Read More »Fed’s Beige Book: Hot inflation, supply difficulties weigh on US firms
Supply chain bottlenecks, the highest inflation in decades and a persisting labour shortage are weighing on businesses across the country, according to a new Federal Reserve report. In its region-by-region roundup of anecdotal information known as the Beige Book, the Fed reported that while economic activity increased at a “moderate …
Read More »EUR/JPY Sharply Reverses As European Stocks, Yields Drop
Risk-off flows in European equities coupled with downside in Eurozone yields weighed heavily on EUR/JPY on Thursday. The pair was last trading down 1.0% in the 154.50 area, a sharp reversal from intra-day highs closer to 157.00.A sharp drop in Eurozone yields coupled with downside in major European equity bourses …
Read More »Discussions On Interest Rate Hikes Continue In Washington
Is US Economy Entering A New Normal? Policymakers are wrestling with the reality that the pandemic may mark a turning point in the nation’s economic plot. The pandemic, and now the war in Ukraine, have altered how America’s economy functions. While economists have spent months waiting for conditions to return …
Read More »Weekly Recap 14-18 March 2022
There have been a lot of moving events during the past week, most notably the monetary policy decisions of the Fed and the Bank of England. Those decisions, which reflected a clear shift in the direction of monetary policy, led to a change in the price movement. The US Federal …
Read More »