简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Fed-led fears propel US Treasury yields and US dollar but Russia-linked geopolitical tensions keep oil buyers hopeful.
WTI crude oil prices step back from multi-day high, stays pressured around intraday low of late.
EIA inventories contrasted API stockpiles, Chinas Evergrande, virus woes add to the risk-off mood.
US Q4 Advance GDP, Durable Goods Orders eyed for fresh impulse.
WTI crude oil prices consolidate gains near eight-year high, easing to $86.00 amid early Thursday morning in Europe.
In doing so, the black gold respects the broad risk-off mood, as well as downbeat official weekly inventory data from the US Energy Information Administration (EIA). However, the bulls remain hopeful as geopolitical tussles between Russia and Ukraine stay on the table.
Market sentiment sours after the Fed matched the broad consensus of offering a hawkish halt. the US Federal Reserve (Fed) matched wide market expectations to keep benchmark interest rates and tapering targets intact during Wednesdays Federal Open Market Committee (FOMC) meeting. However, the interesting part from the Monetary Policy Statement was, “The Committee expects it will soon be appropriate to raise the target range for the federal funds rate.”
On a different page, US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi discussed how they could advance forward together regarding the Russia-Ukraine conflict, per the US state department spokesperson. Its worth noting that the US State Department earlier warned Russia over Nordstorm 2 oil pipeline if it invades Ukraine.
Elsewhere, Evergrande said it is targeting a restructuring proposal within six months whereas the virus woes escalate in Japan.
Amid these plays, S&P 500 Futures drop 1.5% while the US 10-year Treasury yields remain firmer around 1.85%, after rising the most in three weeks the previous day.
Its worth noting that the weekly EIA stockpiles rose past the -0.728M forecast and 0.515M markets expectations to 2.377M at the latest. Earlier in the week, the private industry report, from the American Petroleum Institute (API), showed that the oil inventories shrank 0.872M versus the previous addition of 1.404M.
Looking forward, WTI crude oil traders will pay attention to the aforementioned risk catalysts for fresh impulse, mostly to confirm further bearish bias. However, the first readings of the US Q4 GDP and Durable Goods Orders for December will be important to watch afterward.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
This article outlines the history of Ponzi schemes, highlighting the infamous Charles Ponzi, Bernie Madoff, and beyond.
The forex market presents both opportunities and challenges, with technical analysis being crucial for successful trading. This article outlines the five essential steps for mastering Forex MT4 technical analysis: identifying trends, utilizing technical indicators, determining entry and stop-loss points, analyzing price charts, and performing real-time monitoring and adjustments. By following these steps, traders can enhance their understanding and application of technical analysis, ultimately improving their trading accuracy and success rate.
Wednesday's major data releases and macroeconomic events are expected to cause volatility to increase after another day of erratic trading in the financial markets. The Spring Budget for the UK will be released, and January Retail Sales figures for January will be made available by Eurostat. ADP Employment Change for February and January JOLTS Job Openings will be discussed later in the session on the US economic docket.
Major currency pairings are still trading in familiar ranges early on Tuesday after the erratic trading on Monday. The US economic docket for the American session will include the factory orders data for January and the ISM Services PMI survey for February. Final updates to the February PMI for the US, Germany, the UK, and the EU will also be released by S&P.