May 8 2023 🕓 3 min
Was there a speculative short selling on crude oil?
Crude oil keeps very volatile, from -17% to +15%. Was it a speculative short selling, or data-based price move?
Market Movers
May 12 2023
NZD weakens on all fronts
The New Zealand dollar (NZD) fell on all fronts on Friday. NZD/USD is down 1.4% and NZD/JPY dropped 1.2%, while GBP/NZD is up 1.3%.
May 12 2023
Inflation levels update
The annual inflation rate in India dropped from 5.6% in March to 4.7% in April. Brazil’s inflation fell from 4.6% to 4.1%. However, inflation in Spain accelerated from 3.3% to 4.1%, and France’s inflation jumped from 5.7% to 5.9%.
May 12 2023
Mark Cuban praises AI
The potential of AI, according to Mark Cuban, is “beyond anything I’ve ever seen,” and he compared ChatGPT to the early days of the internet. Cuban has a straightforward piece of advice for businesses: join the AI race or perish. Cuban stated, “There are two types of companies in the world: those who are great at AI and everyone else.”
July 18 2022 🕓 2 min
A 100 bps rate hike speculation knuckles gold down to 1 700$
Gold operates under strong support at 1740$. A massive inflation data from the US pushed the metal to test the 1700$ level.
July 16 2022 🕓 2 min
Indonesia supports the global palm oil market
Indonesia has lifted the export tax on all palm oil products until 31 August. This is to reduce stocks and boost exports.
July 15 2022 🕓 2 min
European Commission approves large hydrogen project
The European Commission has approved a €5.4 billion project. It will deal with hydrogen and will be jointly financed by 15 EU countries.
July 15 2022 🕓 3 min
Economic data against Crude Oil
Commodities are hurt by the situation in the global economy. The economic slowdown has had a negative impact on commodities such as crude oil.
July 14 2022 🕓 2 min
UAE to invest $2 billion in India to develop food parks
The United Arab Emirates hopes this investment will help improve the food shortage situation in South Asia and the Middle East.
July 13 2022 🕓 2 min
Spain plans extra taxes for energy firms and banks
The country wants to help its population with inflation and expensive energy. The government expects to adopt new taxes in 2023 and 2024.
July 12 2022 🕓 2 min
India’s coal imports continue to grow despite high prices
With thermal coal prices in Asia at record highs, it would be logical to expect a drop in demand, but this has not yet happened.
July 11 2022 🕓 2 min
Gold accumulates volume at 11 months support
After a significant decline to 11 months old support, gold is flat and accumulates volume before important US inflation data.
July 11 2022 🕓 2 min
France expects to be without Russian gas
The French finance minister considers a complete interruption of Russian gas supplies to be the most likely scenario.
July 9 2022 🕓 2 min
Russia discovers 82 million tonnes of oil in the Arctic
Russia's state-owned Rosneft has confirmed the discovery of 82 million tonnes of oil in the Pechora Sea in the Arctic.
July 8 2022 🕓 3 min
Why is the price of Crude Oil so volatile?
High volatility in oil markets continues. The backwardation and dislocation between the financial and physical oil market bring mixed signals.
July 8 2022 🕓 3 min
India has extended its sugar export deadline by two weeks
India has had to extend the deadline for exporting 800 000 tonnes of its sugar due to the annual heavy monsoon rains.