Submitted May 17, 2023|From orbex.com

The roller-coaster ride for crude might be coming to an end, after the White House confirmed yesterday it would start replenishing the SPR as soon as June. Rumors of this circulated at the start of the week, helping provide a floor for crude prices ...

Submitted May 15, 2023|From orbex.com

The UK is expected to get another bit of good economic news. But upbeat forecasts make it easier for a disappointment to appear and drag on the market. After a string of positive results that have failed to energize the pound over the last few ...

Submitted Apr 24, 2023|From orbex.com

Australia’s CPI figures for the first quarter will be pivotal for what the RBA does next. Given what happened in New Zealand with their CPI, there is likely renewed interest in the Australian figures this time around. There have been some other ...

Submitted Apr 18, 2023|From orbex.com

At the moment, there is a 65% chance that the BOE will raise rates by another quarter of a point at its next meeting. What could substantially change those expectations, and cable with them, is CPI coming in different from current expectations. And ...

Submitted Mar 29, 2023|From orbex.com

Chinese stocks got a boost overnight on news that could have a broader reach through the tech sector. Alibaba announced its plans to transform into a holding company, splitting its units into six, independently-run entities. Each one of these ...

Submitted Mar 24, 2023|From orbex.com

Gold got a boost following the Fed’s rate decision and managed to poke above $2,000/oz briefly on Thursday. But resistance seems to have been sufficiently strong to keep price action below that level. Given the latest turmoil in the markets and the ...

Submitted Mar 10, 2023|From orbex.com|11 comments

US stock indices dropped substantially yesterday, led by the Nasdaq and prompting a general sell-off across the world. A ~2% drop in the stock market isn’t all that unusual, but this time it was caused by a massive drop in the banking sector. And ...

Submitted Mar 9, 2023|From orbex.com

Following Fed Chair Powell’s comments on Capitol Hill last Tuesday, there is a lot of expectation around the upcoming NFP figures. Powell essentially said that if economic data came in well above expectations, then there would be a 50bps hike at the ...

Submitted Mar 6, 2023|From orbex.com

The RBA is set to meet tonight (or tomorrow, depending on where you’re located in the world), and raise rates by another 25bps to 3.60%. That is according to the latest surveys of economists which show near-universal agreement with the hike. Just ...

Submitted Mar 6, 2023|From orbex.com

In the long term, XAUUSD looks at forming a double zigzag pattern. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ inside the cycle wave z. The first two sub-waves Ⓦ-Ⓧ have already ended, and wave Ⓨ is under development. Perhaps the wave Ⓨ takes the form of an ...

Submitted Mar 3, 2023|From orbex.com

Sunday marks the start of the annual, week-long National People’s Congress (NPC) in China. That’s when all the country’s leaders get together to lay out key national policies for the rest of the year and beyond. This will be the first time since the ...

Submitted Feb 27, 2023|From orbex.com|1 comment

As anticipated, the nominee to succeed Kuroda at the head of the BOJ provided testimony before the parliament. There was a lot of anticipation ahead of the event, so see if and what policies might change. On Friday he spoke before the lower house, ...

Submitted Feb 23, 2023|From orbex.com|2 comments

After taking a break on Wednesday for the Emperor’s birthday, the yen could be in for some substantial volatility for the rest of the week. On Tuesday, the BOJ was forced to step in to defend the bounds of its YCC, buying up ¥400B in bonds. The ...

Submitted Feb 21, 2023|From orbex.com

Following the last meeting of the FOMC, it seemed like the Fed was putting the final touches on its rate hiking cycle. In the post rate decision presser, Chair Powell said that only a couple of rate hikes remained. Although the market still believed ...

Submitted Feb 21, 2023|From orbex.com|1 comment

Recently, natural gas trading in The Netherlands fell to the lowest price in a year. That’s still above the average, since natural gas prices had been rising as tensions between Russia and Ukraine were brewing before the start of the war. But, it’s ...

Submitted Feb 17, 2023|From orbex.com

General risk appetite took a turn for the worse yesterday after a couple of key comments from Fed members. Normally the market wouldn’t hinge on just some comments, but they came at the tail end of some worrying data. That helped give the dollar a ...

Submitted Feb 14, 2023|From orbex.com

There are a lot of reasons for investors to seek safe havens, particularly recently. But gold has struggled to reach the $1,900/oz level. Although it could make it that high eventually, it’s still notable that it’s taking so long. There are some ...

Submitted Feb 13, 2023|From orbex.com

Following the last FOMC meeting, it seemed the Fed was quite happy with how much inflation was coming down. The rhetoric shifted from “keep raising” to “only a couple more hikes left”. That was a dovish shift that was welcomed by the risk-on side, ...

Submitted Feb 10, 2023|From orbex.com|1 comment

Overnight, there was considerable movement in the USDJPY with rampant press speculation over who would be nominated as the next governor of the BOJ. There has been a lot of anticipation about the announcement, since the new governor is expected to ...

Submitted Feb 8, 2023|From orbex.com

Yesterday, markets see-sawed while Powell was speaking at the Economic Club in Washington. Risk appetite fluctuated, and the dollar shifted. Less noticed, but perhaps more indicative of the longer-term trends for the dollar and other currency ...