Stocks Retreat as Quick Peace Deal Hopes Fade
A day after hopes for peace talks in the Iran War sparked a global market rally, indications that Iran has reviewed the US 15-point proposal but has no plans to enter formal talks and is instead looking to solidify a program to charge tolls to ships sailing through the Gulf of Hormuz have thrown a […]
Stocks Surge as US Peace Plan Reported
We have had a significant reversal of sentiment underway overnight and into this morning with hopes of a ceasefire or peace deal in the air. Reports of a 15-point peace proposal from the US have been circulating and President Trump has suggested that Iran has been “talking sense” in negotiations. To date, Iran has denied […]
Market Rebound Pauses as Investors Digest New Survey Data
Flash PMI survey reports, the first look at global economic conditions since the start of the Iran War, have been rolling out overnight and into this morning. The overall theme across Australia, Japan, the UK, Germany, and France points to a notable slowdown in the services economy alongside steadier manufacturing activity. US Flash Manufacturing PMI […]
Trump Tweet Sends Stock Soaring
There has been a swift and radical shift in sentiment this morning. Early on, equities and precious metals were extending Friday’s losses amid threats of imminent attacks on Iranian energy production facilities that could further escalate the war. Just after 7:00 am EDT this morning, President Trump tweeted that based on progress in talks with […]
Energy Supply, Inflation and Interest Rate Concerns Impact Markets
For the first time since the 2011 Arab Spring, a meaningful gap has opened up between Brent Crude and US Crude. Once again, this appears to be driven by concerns about Middle East supply as attacks against energy facilities on both sides of the Persian Gulf increases. Overnight, Brent Crude took another run at $120.00/bbl […]
Steady Markets Await BOC and FOMC Decisions
North American central bank day finds US equity futures and the FTSE all quiet, and the DAX up 0.3%. Overnight, the Nikkei soared 2.9% and the Hang Seng climbed 0.6% boosted by stronger than expected trade data out of Japan. Investor focus has turned from the war to central bank news. The Bank of Canada […]
Central Banks and Airlines In Focus
Overnight, the Reserve Bank of Australia raised its Overnight Cash Rate by 0.25% to 4.10%. Tomorrow the Bank of Canada and the Federal Reserve Board are releasing interest rate decisions and for the Fed, member forecasts on the economy and interest rates. Investors appear to be waiting for commentary on inflation and monetary policy to […]
US Dollar Retreats Ahead of Central Bank Meetings
While the Iran War continues, investors’ focus may shift away from its impact on oil supply to its impact on inflation and interest rates. With the Strait of Hormuz still being contested, and President Trump threatening more attacks on Iran oil distribution sites, US Crude Oil is down 1.5% this morning trading near $97.00/bbl, while […]
Canada Employment Drop Weighs on the Loonie
For the most part, recent economic news has been discounted as the Iran War has changed so much for the world economy over the last two weeks. Some pre-war economic trends have been getting attention, one of which is a decline in employment over the winter even before the war started. For the second month […]
Oil Climbs as Iran War Continues
Iran war developments continue to influence trading across world markets. Yesterday’s news that the 32 member countries of the IEA would release 400 mmbbls from strategic reserves was not enough to keep prices down for very long as Iran continued attacks against commercial shipping in the Persian Gulf. This morning finds Crude Oil contracts on […]