Oil futures leapt this morning by over 15% in a knee-jerk reaction to the attack on the Saudi Arabia Abqaiq oil facility over the weekend that notionally, took 5% of the world’s supply offline. Brent futures spiked by 20% and WTI futures by 15% despite U.S. President Trump authorising releases from the Strategic Petroleum Reserve […]
Author: Jeffrey Halley
The US Dollar marches on supreme today again Asia FX and G10 currencies, as both the USD Index (DXY) and US 10 Year yields hit new highs. There seems to be a global competition on as to who can be the ugliest horse in the glue factory against the USD at the moment. The USD […]
The rise in U.S yields continued in Asia Monday seeing the Dollar juggernaut make further gains. I must confess that the price action over the last few days since the unexpected Tr(i)ump(h) of Mr.Trump, has left me confused. As I write, I see LME Zinc Futures up 4.5% on the day. Chugging along nicely with […]
Markets react positively to President-Elect Trump’s victory speech after a tumultuous day in Asia. Well what most thought could never happen, has! The black (orange) swan event that was unthinkable by most 24 hours ago with Donald Trump sweeping to power. The mornings market moves need no explaining with a panic sell-off in equities, the […]
Some thoughts on precious metals as we head into Election Day in the United States. Well, the big day has finally arrived. Some would say not soon enough as the United States heads to the polls today. Markets are unusually quiet today in Asia with very small ranges on most currencies and commodities. Even options […]
In a holiday-thinned market, more political ructions saw “risk-off” trading as Ms. Clintons server saga refuses to go away. What should have been a quiet day in Asia with Japan on holiday, turned out to be anything but. As I said yesterday, “there’s never just one cockroach,” and so it was with Fox News breaking the […]
Asia continued the Mexican Peso sell-off today sending USD/MXN as high at 19.35000 from an open of 19.1800 before profit taking saw it drift back to 19.3200. This follows on from yesterday’s Peso train-wreck where it fell from 18.7700 to 19.2600 against the USD as it caught a severe case of “Trumpitis.” As the highest beta currency […]
Crack continue to appear in OPEC’s attempts to put together a meaningful deal before the November 30th meeting. Now Iraq has joined the OPEC NIMBY’S. First, let us explain what a NIMBY is. It stands for Not In My Back Yard. Airports are a classic example. Residents may get all excited about the prospect of […]
The copper market can be a confusing beast. Along with iron ore, it is that most bellwether of the commodities to the health of the global economy. It is rather surprising then that as oil and natural gas rally, coking coal hits new highs on the Dalian Futures Exchange and drags iron ore with it; Copper has […]
Mexican Peso stages an impressive rally as the Presidential Debates comes to an end. The Mexican Peso is probably the highest beta currency to the US Presidential Elections. Being sold aggressively through the primaries and the start of the campaign as Trump’s anti-NAFTA rhetoric weighed upon it, laterally rallying as The Donald’s ability to shoot himself in the […]