Shift in narrative Just a few days ago, the market was heavily fearing a return of crude oil prices to new all-time records during the ongoing war. However, now investors are starting to play out a completely different scenario: the collapse of the Iran blockade. Although oil prices are rebounding significantly during the last Monday […]
The offshore yuan is trading around 6.71 per US dollar, recovering recent ground as markets assess the latest developments in US-China trade relations and the implications of the recently concluded Trump-Xi summit. The United States and China have agreed to reduce tariffs on roughly $30 billion of imports from each country and extend their trade […]
The South Korean won is holding around 1,358 per US dollar, maintaining recent gains as strong earnings expectations for Korean semiconductor companies continue to support the currency. Robust global demand for chips is keeping expectations for stronger export revenues and foreign-currency inflows elevated, providing an important fundamental support for the won. At the same time, […]
US natural gas prices are trading around $3.11/MMBtu, extending their decline for a second session as the market waits for further clarity on the Mountaineer XPress pipeline disruption in West Virginia. The outage has removed an estimated 1.4–1.8 bcfd of gas flows, creating a near-term supply concern. However, the pressure from the pipeline disruption is […]
The Indian rupee has weakened toward 95.9 per dollar, extending recent losses as higher crude oil prices, rising US Treasury yields and a firmer US dollar increase pressure on the currency. The combination is particularly important for the rupee because higher energy prices can increase India’s import costs while stronger US yields can improve the […]
Malaysian palm oil futures remain below MYR 4,700 per tonne, hovering near a six-week low as weakness across competing edible oils and softer export demand weigh on the market. The near-term balance remains pressured by sluggish shipments, expectations for higher Malaysian inventories and subdued Indian buying. At the same time, the downside is being partly […]
Copper futures are trading around $6.60 per pound, extending their retreat from recent record highs as softer economic data from China raises fresh questions about industrial demand. China remains the world’s largest copper consumer, making changes in domestic industrial activity an important signal for the direction of the market. Industrial profits in China increased 15.7% […]
USD/CAD is extending its advance for a sixth consecutive session, trading around 1.4150, as the Canadian Dollar remains under pressure from expectations that the interest-rate gap between the United States and Canada will widen further. The Bank of Canada kept its policy rate unchanged at 2.25% at its September meeting, while expectations for another Federal […]
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on a modest gap-up open on Monday as traders opt to wait for further developments surrounding the Middle East crisis before placing fresh bets. Nevertheless, the commodity retains its positive bias through the Asian session and currently trades just above […]
The New Zealand Dollar is trading around $0.566, close to its lowest level since late June, as a firm US Dollar continues to outweigh growing expectations for further Reserve Bank of New Zealand tightening. The immediate pressure on NZD/USD is coming from the US side of the interest-rate equation. Robust US economic data and increasingly […]