Category: Macro
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Global Oil Markets Fluctuate Amid Middle East Tensions and Prospects of Monetary Easing
Oil futures prices fell about 1% on Thursday, as tensions disrupting maritime transport in the Red Sea eased. However, the conflict in the Middle East is worsening. The Danish shipping company Maersk reported that it has scheduled several dozen container ships to travel through the Suez Canal and the Red Sea in the coming weeks…
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Oil Exhibits a Downward Trend As the Crisis in the Red Sea is Closely Monitored
Oil is showing a downward bias after the strong gains of the previous day, as investors monitor developments in the Red Sea and some major carriers resume passage through the area, despite ongoing attacks and broader tensions in the Middle East. Benchmark indices rose more than 2% in the previous session due to fears of…
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Iron Ore Rises On Upbeat Chinese Industrial Data, Demand Hopes
Iron ore futures on the Dalian Commodity Exchange in China saw a rise for the second consecutive session on Wednesday, December 27. This increase is attributed to strong industrial data and expectations of economic stimulus, coupled with robust demand from China. The most-traded iron ore contract for May on the Dalian Exchange rose by 0.5%…
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Oil Futures Surge Over 2% Following Announcement of Resumption of Maritime Traffic in the Middle East Region
The lack of disruptions in oil supply is offsetting the support for current prices due to geopolitical tensions in the Middle East, said UBS analyst Giovanni Staunovo, adding that trading was weak and within a narrow range, typical of holiday periods. Danish shipping company Maersk is preparing to resume maritime operations in the Red Sea…
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Chicago Fed: Economy Picked Up Pace in November
U.S. economic growth picked up pace in November as production improved, data from the Federal Reserve Bank of Chicago showed Tuesday. The Chicago Fed National Activity Index rose to 0.03 in November, improving from a revised minus 0.66 in October, with the majority of indicators marking improvement. The reading below zero suggests economic activity is…
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Unemployment, PMI and Other Can’t Miss Items This Week
Last week the market finished green again with the S&P 500 finishing up almost 1%. This makes it the 8th consecutive week with the SPY finishing higher than it opened. Two of the big events last week were the Fedex (FDX) earnings and the PCE release Friday morning. Fedex missed earnings and revised down the future forecasts which…
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Iron Ore Skyrockets Amid Stimulus Expectations and Robust Demand Forecast
Iron ore futures experienced an uptick on Tuesday, fueled by optimism over potential economic stimulus actions aimed at revitalizing the Chinese economy and the expectation of sustained demand. Closing at 980.5 yuan ($137.22) per metric ton, the most actively traded May iron ore contract on the Dalian Commodity Exchange (DCIOcv1) saw a 1.3% increase, recovering…
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Fed Kept Interest Rates Unchanged And Hinted At a Possible End to its Monetary Tightening
The Federal Open Market Committee (FOMC) kept interest rates unchanged in the range between 5.25% and 5.50% this Wednesday, in line with investor consensus, signaling a slowdown in inflationary pressures – a message that was well received by financial markets. In the statement released alongside the decision, the FOMC pointed out that inflation had slowed…
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NY Fed President John Williams Stresses Tight Monetary Policy to Tackle Persistent Inflation
New York Fed President John Williams reiterated that the Fed’s benchmark lending rate is at or near its highest level and stated that monetary policy is ‘quite restrictive’ (‘the most restrictive in 25 years’). Speaking at the Bretton Woods Committee conference at the New York Fed, he said he expects it to be appropriate to…
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Federal Reserve’s Preferred Inflation Measure Indicates Cooling Trend Amidst High Interest Rates
The Federal Reserve’s preferred inflation measure showed signs of cooling last month, indicating a decrease in price pressures amidst elevated interest rates and a slowing economic growth trajectory. According to a report released by the Commerce Department on Thursday, prices remained unchanged from September to October, a notable shift from the 0.4% increase observed in…