US Dollar Weakness Boosts US Crude Oil Up Nearly 3%, Market Eyes Eurozone CPI YoY
Market Themes Yesterday up until the US market close, dollar weakness emerged as a common driver across the board: the US Dollar Index fell 0.28%, the Euro rose 0.30%, and USD/JPY fell 0.23%. Intraday German Consumer Price Index (CPI) MoM came in at 0.2%, higher than ex…
Gold Edges Lower in Asian Session, Market Eyes Upcoming Macro Data
Market Themes On Monday (August 31), during the Asian session, overall market trading sentiment was cautious: Gold, the Hang Seng Index, and USD/JPY weakened in tandem, with only the Nikkei 225 rising against the trend. On the news front, US inflation data provided supp…
Dollar Strengthening Suppresses Markets, Gold Plunges Nearly 3%
Market Themes On August 28, up until the US market close, the market narrative was completely opposite to the previous trading day—August 27 saw commodities bulls exerting force, whereas overnight switched to dollar strengthening suppressing the entire field: the US Dol…
Dollar Strengthening Suppresses Markets, US Crude Oil Rises, Market Eyes US Initial Jobless Claims
Market Themes Yesterday, up until the US market close, the strong performance of the US Dollar Index constituted a common suppressing factor across the market. Specifically, the US Dollar Index recorded a gain of 0.25%, and this momentum transmitted directly to safe-hav…
Bulls and Bears Tug-of-War, US Crude Oil Plunges Nearly 5%, Market Eyes US Core PCE Price Index MoM
Market Themes The US CB Consumer Confidence Index recorded 89.4, significantly pulling back from the revised previous value of 90.2% and far weaker than market expectations. We believe that weak consumer sentiment provided a soft macroeconomic backdrop for commodities, …