United States Baker Hughes US Oil Rig Count remains unchanged at 483
United States Baker Hughes US Oil Rig Count remains unchanged at 483
Fri, 06 Sep 2024 13:02:12 -0400
US Dollar Technical Forecast: USD Slows at December Lows
The US Dollar is off 0.46% this week with DXY poised to close just below the objective 2024 yearly open. The index looks to have carved the September opening-range lows just above support at the December / August swing lows and the battle lines are drawn heading into key inflation data next week.
Fri, 06 Sep 2024 13:00:00 -0400
US Dollar holds steady after mixed NFPs
The US Dollar Index (DXY), a measure of the US Dollar against a basket of six currencies, recovered its footing on Friday after the release of August Nonfarm Payrolls (NFP) data came in mixed. Following the data, the probabilities of the Federal Reserve (Fed) implementing a 50 bps rate cut in September remains high, but Fed officials might not embrace it yet.
Fri, 06 Sep 2024 12:43:10 -0400
U.S. August Jobs Report: Mixed Signals Keep Fed on Track for Measured Rate Cut
August U.S. jobs data showed signs of cooling but remained net positive, potentially paving the way for a measured Fed rate cut in September.
Fri, 06 Sep 2024 12:29:00 -0400
Fed's Goolsbee: There is an overwhelming Fed consensus for multiple rate cuts
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market's view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September.
Fri, 06 Sep 2024 12:20:31 -0400
Crude Weekly Price Forecast – Crude Continues to Look Weak
The oil markets continue to look weak at the moment, as this past week has been dreadful. The market will continue to see a lot of volatility, but it is worth noting that the market is a leading economic indicator.
Fri, 06 Sep 2024 11:58:23 -0400
Natural Weekly Price Forecast – Natural Gas Continues to Rise
The natural gas market has risen again during the week, as we are looking at this possibility of cooler temperatures that will drive up demand.
Fri, 06 Sep 2024 11:48:14 -0400
US labor market barely recovers in August – Commerzbank
In August, job growth in the US amounted to 142 thousand, which was slightly less than expected (consensus 165 thousand, Commerzbank forecast 150 thousand), Commerzbank's Senior Economist Dr. Christoph Balz notes.
Fri, 06 Sep 2024 11:30:00 -0400
Fed's Waller: Will be an advocate for front-loading rate cuts if that is appropriate
Federal Reserve (Fed) Governor Christopher Waller said on Friday that he is open-minded on the size and the pace of interest rate cuts, adding that they will depend on data, per Reuters.
Fri, 06 Sep 2024 11:06:16 -0400
Brent oil falls by more than 10% last week – Commerzbank
The price of Brent oil has fallen by more than 10% in the last week and a half and is now trading at around $73 per barrel, close to its 9-month low. Although the headlines in recent days have been dominated by developments on the supply side, it is the fundamental demand concerns that have created a kind of ‘imbalance': Reports of production outages barely caused the oil price to rise, while the prospect of possible higher supply put prices under heavy pressure, Commerzbank commodity strategist Barbara Lambrecht notes.
Fri, 06 Sep 2024 10:48:00 -0400
Natural Gas Price Forecast – Natural Gas Continues to See Strength
Natural gas continues to see a lot of noisy behavior, as we are seeing a lot of strength overall. Perhaps the gas markets are starting to look towards the colder months?
Fri, 06 Sep 2024 10:45:29 -0400
US Dollar Index (DXY) News: Dollar Finds Support Despite Weak Jobs Data and Flat Treasury Yields
U.S. dollar rebounds after mixed jobs data, but concerns over a slowing economy and potential Fed rate cuts keep traders cautious. Can the dollar hold steady?
Fri, 06 Sep 2024 10:36:31 -0400
Crude Oil Price Forecast – Crude is Trying to Fight Back
In the early hours of Friday, we saw crude oil try to recover from the relentless selling pressure. At this point in time, we could be looking at a signal that things are about to get worse from an economic standpoint.
Fri, 06 Sep 2024 10:36:30 -0400
Turkey Treasury Cash Balance dipped from previous -136.515B to -194.618B in August
Turkey Treasury Cash Balance dipped from previous -136.515B to -194.618B in August
Fri, 06 Sep 2024 10:30:45 -0400
Canada Ivey Purchasing Managers Index s.a registered at 48.2, below expectations (55.5) in August
Canada Ivey Purchasing Managers Index s.a registered at 48.2, below expectations (55.5) in August
Fri, 06 Sep 2024 10:00:33 -0400
Dollar forecast dims further amid weak NFP data: Forex Friday
Despite the uptick in wages, this was a rather weak jobs report. Not only did the headline data show only a modest +142K rise in nonfarm jobs in August (vs.
Fri, 06 Sep 2024 10:00:00 -0400
OPEC+ decides to defer their planned increases in supply – TDS
The OPEC+ group's decision to defer their planned increases in supply has not been sufficient to halt the bleed in supply risk premia, TDS Senior Commodity Strategist Daniel Ghali notes.
Fri, 06 Sep 2024 09:43:39 -0400
US: Hiring Rebounded in August, While the Unemployment Rate Ticked Down to 4.2%
Non-farm employment rose by 142k in August, slightly below the consensus forecast calling for a gain of 165k. Job gains in the two prior months were revised lower by 86k.
Fri, 06 Sep 2024 09:34:35 -0400
Base Metals: All eyes on China, rather than the US – Commerzbank
The Chinese data to be released over the next two weeks is likely to be decisive for base metals, Commerzbank commodity strategist Barbara Lambrecht notes.
Fri, 06 Sep 2024 09:32:59 -0400
Canada's Labour Market Continued to Cool in August
Canada's labour market added a modest net 22k new positions, roughly on expectations. However, all the gains were in part-time job positions, which rebounded 66k after losses in July.
Fri, 06 Sep 2024 09:13:10 -0400