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The oil market is in focus due to OPEC+ at the moment but it could be on storms later this week.The NHC forecasts a near 100% chance of one system forming into a tropical cyclone in the next 48 hours with the second showing a 70% chance over the coming seven days.The...

Prior was 115.45 (revised to 114.71)“The ETI ticked down in August and has been on an overall declining trend since March 2022," said Selcuk Eren, Senior Economist at The Conference Board. “The index is still elevated, so job gains may continue over the coming months,...

Prior was +2.3% (unrevised)First decline after four consecutive increasesFactory order ex transport +0.8% vs +0.3% priorRevisions to durable goods - a component of factory orders showed:Durable goods orders -5.2% vs -5.2% preliminary. Durable goods ex defense -5.5%...

The oil market is going to be in a significant deficit through year end, pulling and global inventories and pushing up prices.Saudi Arabia announced today that it would extend a voluntary 1 million barrels per day output cut through December and Russia quickly...

Russia joins Saudi Arabia in cutting through year end, though the 'reviewed monthly' is a big caveat.Still, Russia and Saudi Arabia are united in cutting production even with oil prices in the $85-$90 range. I imagine they won't be 'reviewing' the decision at anything...

Oil production cuts to be kept in place through year endDecision will be reviewed monthlyAdditional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of suporting the stability and balance of oil marketsExpect Russia to...

The US dollar is sizzling to start the US trading week as bonds slump. USD/JPY is through last week's high of 147.39, which is the best level since last November. There isn't much standing in the way of 150.00 and beyond.USDJPY weekly chartYou would like to see new...

The US dollar is strong to start the shortened North American trading week. Economic data will be a focus later in the week but it won't be today with a light slate that features factory orders and employment trends, both at 10 am ET (1400 GMT). Factory orders are...

Headlines:Markets:USD leads, AUD lags on the dayEuropean equities lower; S&P 500 futures down 0.2%US 10-year yields up 5.5 bps to 4.228%Gold down 0.4% to $1,930.52WTI crude down 0.3% to $85.26Bitcoin down 0.4% to $25,738The return of the bond market, or more...

The good news for stocks is that the rough start to the session has abated somewhat. Here's the snapshot of the equities space currently:Eurostoxx -0.1%Germany DAX -0.1%France CAC 40 -0.3%UK FTSE +0.1%S&P 500 futures -0.1%Nasdaq futures -0.2%Dow futures flatThe...

After the US jobs report on Friday, it looked like USD/JPY was set for a break lower in a drop below the 145.00 mark. However, a major turnaround in the bond market helped to drive yields higher and was a saviour for USD/JPY buyers. The pair closed higher at the end...