US stocks are playing a game of dizzy bat as traders remain divided with recession calls and when the Fed could be in a position to pause their interest rate hikes. Earlier in Europe, stocks were supported as oil prices softened on expectations OPEC+ would ramp up production in July. Bitcoin will get its groove […]
Despite all the hawkish spin from last week, the Fed will still likely move in 2023 and that means the US economy could still see another 18 months of support. Bullard is one of the most hawkish Fed speakers and Kaplan was one of the handful of members that was willing to kick start the […]
Today, OPEC+ preliminary estimate for May compliance remains high at 115%, three Norwegian labour unions could strike on June 17th over wages, and as IEA expects global oil demand to reach pre-virus levels next year. WTI crude is back above the $70 level, and they may stay there if Iran nuclear talks continue to drag […]
The fifth round of negotiations will heat up next week and that should keep oil prices supported as Tehran will stick to their red lines for restoring the nuclear deal. Energy traders will remain very bullish for crude prices in the short-term. It has been all downhill for Bitcoin since Musk’s SNL appearance and while […]
Oil is trading higher, extending gains from the previous week amid continued efforts to restore production following a cyber attack on a top US pipeline. However, with no solid timeline in place as to how long it will take to normalise operations, the price of oil is likely to remain well supported. Elsewhere, Indian Prime […]
One notable laggard in the commodity rally was oil overnight, with both Brent crude and WTI testing range highs again before retreating. The first signs that India’s Covid-19 tragedy is easing is likely to see bullish fast money pile back into long positioning in force. Brent crude fell 0.40% to USD68.25 overnight, reversing those losses […]
Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. …Read the full story
The FDA reported that as of April 12th, over 6.8 million J&J vaccines were administered in the US and that they are reviewing 6 cases of a rare and severe type of blood clot in individuals after getting the vaccine. The CDC/FDA news conference on the J&J vaccine signaled that the pause could be only […]
Gold prices are little changed ahead of the release of the FOMC minutes that could provide further reiterations that policy is on hold for the foreseeable future and that they are not ready to discuss reducing asset purchases. The headline crude inventory draw of 3.5 million bpd was larger than the 1.6 million forecasted drop, […]
