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 […]
Crude Oil Climbs Again as Markets Watch Strait of Hormuz
Amid reports that the US is attempting to prevent Iran from laying mines in the Strait of Hormuz to block shipping, a sign that the conflict may not be over yet, the price of Crude Oil has started to rebound from yesterday’s selloff. US Crude and Brent Crude are up 3.9% to 4.1% respectively this […]
Catchups and Pullbacks
Yesterday afternoon, President Trump indicated to a reporter that the Iran War may be close to over and separately threatened to hit Iran if they try to close the Strait of Hormuz. These comments sparked a rebound in stocks and a retreat in Crude Oil prices which had crossed over $100.00/bbl earlier in the day. […]
Oil Surges Above $100.00 Per Barrel
As conflict continues in the Middle East, disruption to energy production and shipping, along with the possibility that the situation could drag on for some time, appears to be increasingly reflected in oil prices. This morning finds both US Crude and Brent Crude up more than 11.1%, with both trading above $100.00/barrel, while the price […]
Nonfarm Payrolls Disappointment Extends Stock Selloff
A surprise contraction in US February nonfarm payrolls (-92K vs Street +59K) has sparked another round of selling in US equities this morning. US index futures are down 0.7% to 1.0% with the NASDAQ leading the way downward. European markets are also retreating this morning, with the DAX down 0.6% and the FTSE falling 0.5%. […]
Stocks and Metals Rebound as War Continues
The fog of war that overhung markets yesterday has lifted somewhat overnight after the US indicated it will provide insurance support to keep oil shipping moving through the Persian Gulf and that it has sunk much of Iran’s navy, reducing uncertainty at the margins for the moment. Asia-Pacific markets had a rough night, with the […]