WTI/USD
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Crude oil analysis: WTI heading to sub-$70?
Hopes that the US driving season would propel prices to new 2024 highs this summer failed to materialise as demand remained weak in key economic regions like China. At the same time, the OPEC+ appeared content with plans to increase output from the fourth quarter.
A surprise OPEC+ output cut is a thorn in the side for disinflation
I imagine quite a few central bankers and politicians will be rolling their eyes or shaking their fists OPEC's way, as the surprise oil production cut adds inflationary pressures back into the mix.
European Open: WTI back above $70, yen remains firm
Competing themes has seen oil prices rally thanks to risk-on sentiment, yet the yen is the strongest major likely due to the repatriation trade
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European Open: UK inflation up next, then focus shifts to the FOMC meeting
Today’s UK inflation print could be the difference between a final 25bp hike from the BOE tomorrow, or a pause. Then our attention turns to the FOMC meeting.
Crude plummets - will OPEC come to rescue?
We might see an oversold bounce in prices soon but until something changes fundamentally, the path of least resistance would remain to the downside
European Open: GBP/USD implied volatility spikes ahead of UK wages and US CPI
Whilst US CPI is likely the main event of the week, UK wages data could also turn the dial for the BOE, which is why GBP/USD implied volatility has spiked.
European Open: $82 continues to defy WTI crude bulls
Despite hopes of a rebound in demand due to China’s reopening, oil bulls have repeatedly failed to help WTI crude oil close above $82 – and momentum now points lower.
Recession concerns and a stronger US dollar send WTI back below $80
WTI suffered its worst day in 30 yesterday, with a combination of a stronger US dollar, recession concerns and weaker natural gas prices all playing their part for a bearish session.
European Open: EUR/GBP rally stalls at key highs, German data in focus
We see a technical case for EUR/GBP to top out over the near-term, which could be helped if Germany deliver a soft inflation report today.
OK Fed followers: When is a pivot, not a pivot?
Jerome Powell hit the wires and effectively confirmed that the Fed will slow their pace of tightening, reigniting the argument over what a ‘pivot’ is.
Crude oil takes another plunge
This time on report that the OPEC+ to discuss production hike by 500K bpd
Commodities slump as dollar rebounds
Chinese demand concerns on the rise amid Covid outbreak
WTI falls as demand concerns intensify
Oil investors' focus is turning back to the demand side of things and in particular China...
WTI’s trend break more good news re inflation
...after CPI came in much weaker
European Open: DAX futures point to a weaker open, retail sales on tap
The weak lead on Wall Street led to declines across Asia, and now back over to European and US futures which suggest a weak open for cash markets such as the DAX.
European Open: DAX futures point to a weaker open, retail sales on tap
The weak lead on Wall Street led to declines across Asia, and now back over to European and US futures which suggest a weak open for cash markets such as the DAX.
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New Zealand’s inflation came in much hotter than expected [hoped]
Talk of peak inflation was short-lived following release of Q3 inflation for New Zealand, with the annual rate sticking near its highs and the quarterly rate accelerating.
New Zealand’s inflation came in much hotter than expected [hoped]
Talk of peak inflation was short-lived following release of Q3 inflation for New Zealand, with the annual rate sticking near its highs and the quarterly rate accelerating.
European Open: DAX rallies from 12k, WTI prints a potential swing low
The big question today is whether we’ll see the risk-on bounce seen yesterday flow over to today. Two potential traders we’re watching include the DAX and WTI futures.
European Open: DAX rallies from 12k, WTI prints a potential swing low
The big question today is whether we’ll see the risk-on bounce seen yesterday flow over to today. Two potential traders we’re watching include the DAX and WTI futures.
European Open: WTI finds demand around $117, futures mixed
The yen continued to weaken overnight and WTI is back at around $120 after a solid rebound from $117 yesterday.
WTI crude shows the potential to extend its recent rally
Whilst WTI crude has pulled back following Monday’s gap higher, the potential for a bullish continuation pattern following a bullish breakout has been noted.