Wheat with incredible performance

Wheat is one of the most important commodities connected to the conflict between Russia and Ukraine. The fears of supply shortage can be seen with the price of wheat, which has seen as much as 40 % increase (Chicago futures of grain). The commodity has created ATH in several different aspects, all of which are definitely affected by the conflict.

More market movers from category

WTI Crude oil recovers losses

Worries about limited global supply helped WTI crude futures rise 2% to $80, pulling away from 9-month lows at $76 earlier this week. Hurricane Ian caused a reduction in US crude output of around 190,000 barrels per day, or 11% of the Gulf’s total.

Nord Stream damaged & gas rises

Leaders in Europe thought the two explosions that destroyed the pipelines used to transport Russian natural gas to Europe were intentional. However, some officials accused the Kremlin of being behind the explosions, saying they were meant to be a warning to Europe. Meanwhile, EU gas is up 13% on Wednesday.

EU gas surges by 10%

After four straight days of losses due to concerns about future Russian supply, EU gas futures spiked 8% near €190. This may be due to the Nord Stream report of a pressure reduction at the two lines of Nord Stream and one line of Nord Stream 2.

Lumber is down 70% in 6 months

The housing sector is witnessing a dramatic slowdown and rising rates. As a result, lumber futures fell by 7% to $450, a level last seen in September 2021 and down nearly 70% from their March peak. In addition, August saw the seventh straight month of existing house sales declines, reaching their lowest level since May 2020.

EU natural gas rises repeatedly

On Wednesday, EU natural gas increased to over €200/MWh after falling by 50% in the last month to 170€/MWh. This might be because traders try to evaluate the forecast for gas supplies in winter. At the same time, President Putin signaled an expansion of the war in Ukraine by announcing a partial military mobilization in Russia.

EU natural gas continues to fall

Following a 9% fall last week—the third straight week of declines—EU natural gas prices dropped to €170 per megawatt hour, down 50% from its peak. Due to increased gas inventories and a high supply, natural gas prices have been on a downward trend since reaching record high levels in August.

More market movers

WTI Crude oil recovers losses

Worries about limited global supply helped WTI crude futures rise 2% to $80, pulling away from 9-month lows at $76 earlier this week. Hurricane Ian caused a reduction in US crude output of around 190,000 barrels per day, or 11% of the Gulf’s total.

GBP remains volatile

The Bank of England announced that it would start making temporary purchases of long-term UK government bonds on September 28 in order to restore orderly market conditions. The British pound remained volatile, first rising to above $1.08 before dropping to $1.05.

Nord Stream damaged & gas rises

Leaders in Europe thought the two explosions that destroyed the pipelines used to transport Russian natural gas to Europe were intentional. However, some officials accused the Kremlin of being behind the explosions, saying they were meant to be a warning to Europe. Meanwhile, EU gas is up 13% on Wednesday.

DAX hit 12,000 mark

European equities markets declined sharply, with the German stock index DAX hitting a two-year low of 12,000. The stock index is pressured by the hawkish monetary policy of central banks, which could draw DAX even lower.

Indian Rupee suffers losses

The Indian rupee hit a record low of 81.7 and is on track with the retreat of riskier currencies. This is due to recession fears and expectations of a hawkish Federal Reserve policy. Pressure on the rupee is also contributed to an increase in capital outflows from the country.

EU gas surges by 10%

After four straight days of losses due to concerns about future Russian supply, EU gas futures spiked 8% near €190. This may be due to the Nord Stream report of a pressure reduction at the two lines of Nord Stream and one line of Nord Stream 2.

News

EUR/USD remains offered, targets 0.95
-0.83%

EUR/USD remains offered, targets 0.95

It looks like another bearish day for the single currency as the USD remains unstoppable.
Do Kwon allegedly tried to run with 3,313 bitcoins
BTC
2.52%

Do Kwon allegedly tried to run with 3,313 bitcoins

While Do Kwon claims he is not on the run, he keeps hiding while being chased by Interpol. Allegedly, he tried to withdraw 3,313 BTC.
USD/JPY tests previous highs despite negative sentiment
1.01%

USD/JPY tests previous highs despite negative sentiment

The US Dollar traded higher on Tuesday, boosted by the risk-averse sentiment in the markets.

Severe explosions damage Nord Stream pipelines

Swedish and Danish gauging stations massive underwater explosions where the Nord Stream pipeline subsequently started leaking gas.