Week Ahead: Bank of Canada to Reduce Purchases; Global Economic Recovery to Pickup
The global economic recovery is gaining momentum as the world’s two largest economies continue to deliver robust economic readings. China’s economy grew 18.3% in the first quarter, a record rate that sets the example of what we can expect as the rest of the world recovers from COVID-19. The...
US Open: Futures Point to Gains as Stocks Trade at Record Levels
US stocks look to fresh all time highs amid growing optimism surrounding the economic recovery.
US futures
Dow futures +0.2% at 34100
S&P futures +0.5% at 4177
Nasdaq futures +0.85% at 14053
In Europe
FTSE +0.4% at 7023
Dax +0.18% at 15422
Euro Stoxx +0.3% at 4021
US stocks charge higher
After the...
Gold and Oil Return To Strong Gains
Since the beginning of April, the dollar's continued weakening seems to be moving beyond monthly or quarterly rebalancing. US equity indices are rewriting all-time highs, and emerging market currencies are rising at an accelerated pace. These are all clear demonstrations of the recovery in demand for risky assets.
Markets are...
Two Trades To Watch: FTSE, WTI Crude Oil
FTSE hits 7000 after upbeat Chines GDP data
The FTSE has been pushing higher in recent weeks boosted by reopening optimism and the weaker Pound.
A softer pound has boosted the multinationals which make up the lion’s share of the index
The UK continues to see covid cases fall and ease lockdown...
Market Morning Briefing: Dollar-Yen Has Just Started To Bounce From 108.61
STOCKS
Dow has risen past 34000 and while this break sustains our view of seeing a corrective fall will get negated and a further rise to 35000 is possible. DAX is stuck in the narrow 15100-15300 range and looks mixed in the near-term. Nikkei and Shanghai can oscillate in the...
Oil Prices Hit One-Month High on Improved Demand Outlook, Further Fall in Crude Stocks
WTI oil is consolidating just under new one-month high ($63.44) on Thursday, following 3.8% advance on Wednesday, the biggest one-day rally since Mar 24.
Improved forecasts for global oil demand by the International Energy Agency and OPEC, on signs that major economies recover from the pandemic, lifted the oil prices,...
US Open: Wall Street Heads Higher on Strong Earnings, Blowout Data
After a strong start to earnings season yesterday, earnings continue to impress. US retail sales & jobless claims smash forecasts lifting stocks higher.
US futures
Dow futures +0.4% at 33900
S&P futures +0.5% at 4150
Nasdaq futures +0.85% at 13934
In Europe
FTSE +0.6% at 6976
Dax +0.18% at 15241
Euro...
Most Asian Indices Are Falling Following US Stocks After Hitting Record Highs
Hong Kong and Chinese stocks fell as the liquidity operations of the Chinese central bank signaled that it is trying to constrain credit growth. US stock futures fell following the Nasdaq index. The S&P 500 lost just over 20 pips, which is a marginal decline and is showing an...
WTI’s Price Rally’s To Monthly High
WTI's price saw a significant move higher during Wednesday's US session, possibly performing its strongest daily upward movement in April so far. At some point WTI's price reached $63.50 per barrel, the highest price reached in the current month. WTI's price jumped reacting to the release of the weekly...
WTI Futures Surpass Ichimoku Cloud And 62.60 Level
WTI crude oil futures are increasing their positive bias after several days of flat periods, remaining above the long-term ascending trend line. The price is trying to exit from the Ichimoku cloud moving towards the next resistance of the two-and-a-half-year high of 67.96. If traders continue to buy the...
European Open: AU Jobs ‘Hire’, Ominous Day On The Nasdaq
Yet more positive data from Australia saw the ASX 200 hit fresh highs, yet AUD traders look elsewhere. And yesterday’s key reversal on the Nasdaq warrants a look.
Asian Indices:
Australia's ASX 200 index rose by 44 points (0.63%) and currently trades at 7,067.10
Japan's Nikkei 225 index has risen...
Mixed Vaccine News
Market movers today
In the US we get March Retail sales, which likely rose significantly boosted by the third stimulus check.
In Norway, the government has announced a press conference at 16.00 to present the decision on Astra Zeneca (AZ). Initially, we had expected Norway to restart the vaccination...
Market Morning Briefing: Aussie Has Bounced Well As 0.7580 Holds Good
STOCKS
Equities remain mixed. Dow is stuck in between 33500 and 34000 while DAX between 15100 and 15300. They will have to break above 34000 (Dow) and 15300 (DAX) to move up further. Else a fall can be seen from here itself. Nikkei can fall within its 28000-31000 range. Shanghai...
Crude Oil Price Breaks Key Resistance, Dollar Under Pressure
Key Highlights
Crude oil price formed a base above $57.00 and started a fresh increase.
It broke a major contracting triangle with resistance near $59.70 on the 4-hours chart of XTI/USD.
Gold price is still trading below the key $1,760 resistance zone.
EUR/USD gained pace above 1.1920, GBP/USD is...
US oil inventories dropped -5.9m barrels, WTI upside breakout
US commercial crude oil inventories dropped -5.9m barrels in the week ending April 9, versus expectation of -2.4m barrels. At 492.4m barrels, crude oil inventories are about 1% above the five year average for this time of year. Gasoline inventories rose 0.3m barrels. Distillate dropped -2.1m barrels. Propane/propylene rose...
WTI Oil Outlook: Oil Price Remains Elevated on Improved Global Demand Outlook and Weaker Dollar
WTI oil price continue to climb for the third consecutive session and hit one-week high on Wednesday.
The monthly report from the International Energy Agency showed improved outlook for a significant rise in global oil demand in the second half of the year that boosted the sentiment, along with weaker...
Oil Rises On Stockpiles, Gold Vulnerable
Oil rises as crude stockpiles decline
Oil prices are on the rise, breaking out of a tight trading range that has limited directional movement over the past week.
Upbeat industry stockpile data, an upwardly-revised OPEC demand forecast, a weaker US dollar, and geopolitical concerns over Iran favour oil buyers. The growing...
Oil Rises On OPEC, Gold Surges
Oil lifted on OPEC projections
Oil markets rose overnight and this morning after the US dollar weakened and OPEC lifted its consumption projections higher for the rest of 2021. Brent crude rallied 1.30% to USD63.90 a barrel overnight, rising to USD64.10 this morning. WTI jumped by 1.40% to USD60.45 a...
Oil Range Expansion Is A Possibility
Oil has been consolidating in a rectangle and we could see a move up before the price drops.
Since March 17 we have seen a consolidation in the oil price. We don’t know if the market is going to continue with any trend until the range is broken. At this...
European Open: RBNZ Hold Rates, Australian Consumers Are Buzzing
There were no major surprises from RBNZ today, but consumers in Australia are their most confident on the economy in 11 years.
Indices mostly higher in Asia (barring Japan)
It was a strong close for the Australian share market with consumer sentiment jumping to an 11-year high. Looking past a slow...
UKOIL Trades In Narrowing Range
Brent crude ticked up after data showed oil imports into China surged 21% in March. The price action remains range-bound however for lack of a major catalyst.
The narrowing consolidation is a sign of the market’s indecision and a breakout is bound to happen soon.
A bearish MA cross on the...
WTI Futures Push Higher Within a Ranging Market
WTI oil futures have nudged back above the 60.00 mark, overstepping the Ichimoku cloud and the 100-period simple moving average (SMA) on the four-hour chart at 60.03. The commodity’s price action remains confined between the limits of 57.25 and 62.24. The bearish demeanour within the 100- and 50-period SMAs...
US Open: Futures Point Lower on J&J Shock, CPI In Focus
The mood in the market has turned sour after J&J single shot covid vaccine is paused. CPI data up next.
US futures
Dow futures -0.35% at 33630
S&P futures -0.27% at 4117
Nasdaq futures -0.05% at 13814
In Europe
FTSE -0.2% at 6876
Dax +0.03% at 15231
Euro Stoxx -0.03% at...
Oil Ticks Upwards, Gold Edges Lower
Oil treads water
Oil prices rose slightly overnight as Middle East concerns underpinned prices. Brent crude finished just 0.20% higher at USD63.10 a barrel, while WTI crept 0.45% higher to USD59.65 a barrel. Although the closes were neutral, both contracts traded in busy two-dollar ranges, hinting that interest remains high,...
European Open: China’s Imports Rise, CPI Up Next
Whilst China's exports missed expectations, imports rose an impressive 38.1% YoY to show demand from the world's second largest economy is also on the rise.
Asian Indices:
Australia's ASX 200 index fell by -6 points (-0.09%) to close at 6,968.00
Japan's Nikkei 225 index has risen by 248.91 points (0.48%)...
Crude Oil Prices to Hover around Current Levels as Supply Increases amidst Better Demand Outlook
Both crude oil benchmarks have been range-bounded after pulling back from the peaks in early March. Although global economic recovery is still underway and the pandemic situation has largely stabilized, the ramp-up of output by OPEC members and non-OPEC producers have raised concerns over whether the growth in world...
Market Morning Briefing: EURJPY Continues To Trades Sideways Below 131
STOCKS
Dow and DAX hover at their highs and may have room to move up further from here before seeing a reversal. Dow will have to fall below 33000 and DAX below 15000 to come under pressures for a fresh fall. Nikkei can fall towards the lower end of its...
Oil Steady, Gold Dips On Higher US Yields
Oil markets unchanged in Asia
Oil markets edged lower in New York on Friday, as the US dollar strengthened modestly. Overall, the trading was directionless as both Brent crude and WTI continue consolidating in the middle of their one-month ranges, awaiting new directional inputs. It is a similar story in...
Market Morning Briefing: Pound Has Fallen Below 1.37
STOCKS
Asians are trading weak failing to take cues from the rise in the Dow on Friday. Dow has risen past 33550 contrary to our expectation and can test 34000 while this break sustains. The expected corrective fall is getting delayed further. DAX keeps alive the chances of seeing 15500-15700...
Week Ahead: Fed’s Inflation Calm About to Get Tested
The Fed has clearly signaled they are not worried about inflation and that should worry financial markets. The Fed has repeated that inflation will be transitory, but financial markets have never seen this record amount of stimulus get pumped into the economy. The US economy is about to run...