OPEC+ stayed put, maintaining the output cut agreed in December last year while pledging to monitor market developments with an option to raise production later. In our opinion, there is no practical need for OPEC+ to officially raise output....
As suggested in the CFTC Commitments of Traders report in the week ended May 14, traders trimmed their bets, on both long and short sides, on futures of US dollar index, euro, Swiss franc, and Canadian dollar. On the...
According to the CFTC Commitments of Traders report for the week ended May 14, NET LENGTH for crude oil futures fell -6 528 contracts to 487 808 for the week. Speculative long positions declined -8 810 contracts while shorts...
Deal, deal, deals. They're the main themes in the markets last week. The cross-party Brexit talks in UK collapsed and a high profile Brexiteer is tipped to lead the Brexit process after current Prime Minister steps down. Tensions between...
In a joint announcement, US, Canada and Mexico said a deal was reached to remove Section 232 steel and aluminum tariffs, and related retaliatory tariffs.
Under the agreement, aggressive monitoring and a mechanism will be set up to "prevent surges...
U.S. Review
Two Steps Back and One Step Forward
Retail sales stumbled again in April, falling 0.2%. Core retail sales were flat and suggest the Q2's bounceback in consumer spending may not be as strong as previously thought.
Output in...
U.S. Highlights
Equity markets rebounded this week as the U.S. administration delayed its decision on auto tariffs for six months.
Housing starts and retail sales data for April support the narrative of healthy domestic spending this quarter.
That said,...
This week, we have seen big moves in the stock markets, pound and emerging market currencies, with China’s yuan bearing the brunt of the sell-off amid growing concerns over trade wars. Next week, volatility should remain elevated, providing plenty...
While lacking in central bank meetings, the coming week is still a busy one. A poor showing by the UK Conservatives in the European Parliament elections could make it even more likely that Theresa May is replaced with someone...
In a White House Proclamation published today, Trump declared automobile imports and certain parts "threaten to impair the national security of the United States". And, the countries' defense and military superiority "depend on the competitiveness of our automobile industry...
European and Chinese stocks markets are selling off from critical comments from Beijing that put a dent in trade talk optimism. Flight to safety is the early morning theme and we may see that continue if we see softer Michigan...
Sterling suffers heavy selling today as after Brexit negotiations between the UK government and opposition Labour formally collapsed. More uncertainties lie ahead as Prime Minister Theresa May will lay our the time line for stepping down, whether her Brexit...
Entering into US session, Sterling is clearly the weakest for today. Selloff in the Pound accelerates after Labour party formally declared collapse of Brexit talks with the government. No one knows what's next for Brexit, and not even who'll...
It has been a rather good week for the US dollar, supported mainly by outflows in foreign currencies. In Europe, for example, raised Brexit uncertainty has undermined the pound and the latest news here is that cross-party talks have...
Sterling extends recent decline after UK opposition leader Jeremy Corbyn formally announced collapse of Brexit negotiation with the government. In a letter to Prime Minister Theresa May, Corbyn said the talks had "gone as far as they can".
And, "it...
Eurozone CPI was finalized at 1.7% yoy in April, up from 1.4% in March. Core CPI was finalized at 1.3% yoy. The highest contribution to the annual Eurozone inflation rate came from services (0.86%), followed by energy (0.51%), food,...
Markets in the red as trade concerns remain
It's been a bizarre week in the markets, one that looks set to end on a negative note in a potential sign that investors are not particularly comfortable despite a three day...
WTI crude oil futures found strong support at the 23.6% Fibonacci retracement level from the one-and-a-half-year low of 42.50 to the recent peak of 66.60 over the last two weeks, remaining also above of the 'golden cross' within the...
Just as markets thought there was a lull in news related to US-China trade tensions, reportscirculating around China's lack of interest to resume trade discussions with the United States has alarmed investors once again. The Japanese Yen initially took...
Pound continues to slide as cross-party Brexit talks set to end and countdown begins to PM May's exit
Euro also on the backfoot as Italian political worries re-emerge
US dollar climbs to 2-week high following strong corporate earnings...