WTI crude oil weeklyThe oil market finished last week on an optimistic note, closing just below the $80 level and threatening to break to the highs since November.Alas, the dam didn't break and oil has slumped back to $76.62, finishing at the lows of the week. For...
What’s the market saying about forward inflation?
What's the market saying about forward inflation?Here's a picture of 1-year forward 1-year inflation.It's risen but it's not arguing for problematic inflation.The two-year forward picture has been turning lower, presumably as the market prices in fewer rate cuts.2...
Baker Hughes US weekly oil rig count +6
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Fed’s Williams: My view of economy hasn’t changed after January data
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A bid for safety emerges: Gold and bonds higher
Someone is looking for a safe haven.A strong bid has emerged in gold and bonds in the last hour and it's not clear why. Gold has jumped $13 to $2037, which is the highest since February 7. It's a sharp turnaround as just a few hours ago, gold was testing the lows of...
European equity close: Some late-day selling but still a great week
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ECB’s Muller: I would like to see Q1 wage data before moving on rates
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Nasdaq gives up gains, US dollar fights back
Shares of Nvidia opened more than 4% higher but have pared that to just +0.4%, falling back through $800.At the same time, the Nasdaq has shed an opening gain and is down 0.2% with selling led by a 9% drop in shares of Booking.Profit taking is the order of the day and...
The immigration wars are just getting started
The least-talked-about secular trend right now is diminishing enthusiasm for immigration in the west.It's real and it will have profound implications for economic growth, demographics and inflation. I've seen it first-hand in Canada, which is typically the most-open...
Let’s say the market is right about Nvidia
Shares of Nvidia are up 4% today and set for a seventh consecutive week of gains. The rally in shares of the chipmaker since the start of November has been one of the most-impressive market moves ever. It's now the third-largest company in the world, behind only...
US equities slated to open higher, Nvidia leading the charge again
S&P 500 futures have turned higher in the past hour, climbing from flat levels to +0.35%. The index closed at a record high of 5087 yesterday, fuelled by a 16% gain in Nvidia. Shares of the chipmaker are once again driving gains today, with shares up $20, or 2.5%,...
US dollar sags after Harker and Waller highlight Fed still on track to cut
USDJPY 10 minsThe US dollar is moderately lower today as the market sorts through another week of data and Fedspeak.We heard from Fed Governor Waller in Asia-Pacific trading and he was candid as usual. He said the recent CPI report was a reminder that progress on...
Oil falls with Gaza talks set to begin in Paris
WTI crude oil is down $1.40 to $77.21 today in large part due to the possibility of a ceasefire in Gaza over the weekend.Israeli officials have arrived in Paris for talks that also include Egypt, Qatar and the United States.In late January there was a proposed a...
ECB’s Nagel: We should act on data, not steps by other central banks
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Weekly Market Recap (19-23 February)
Over the weekend the PBoC left the MLF rate unchanged at 2.50% as expected.PBoCThe New Zealand Services PMI jumped back into expansion in January:Services PMI 52.1 vs. 48.8 prior.New Zealand Services PMIThe Canadian January PPI came in line with expectations with a...
The economic calendar is barren today
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ForexLive European FX news wrap: Dollar set for first weekly drop for the year
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ECB’s Lagarde says Q4 2023 wage numbers are encouraging
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Gold Weakened after Fed Officials Signalled a Preference to Delay Rate Cuts
Gold (XAU/USD) AnalysisFed officials communicated that they are in no rush to start the cutting cycle amid a strong US economy, emboldened consumer and potential Red Sea escalationGold prices have edged lower towards the end of the week as Fed officials spur on USDThe...
Title: The DAX Rises to New Highs, But Will Inflation Allow Further Gains?
The German DAX again renews its all-time highs after rising a further 1.58% on Thursday. In the month of February, the GER40 has risen 3.33% so far. The German DAX is being supported by the rise in the global market’s risk appetite as well as the expectations of a...