OIL Yesterday’s OPEC meeting did nothing to dent the good mood of investors for oil. On the contrary, the decision to maintain current production restrictions (including cuts in Saudi Arabia) has given further buying impetus to the current bullish rally. WTI has jumped to a new Covid-era record at $65 a barrel, as investors are…
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Trading technology provider Aquarius Financial Technologies Ltd has announced a strategic partnership with CQG, a provider of technology solutions for traders, brokers, commercial hedgers, and exchanges. The collaboration between the two companies will support Aquarius’ plans to launch an institutional-grade global cryptocurrency exchange using CQG’s technology. The exchange is planned to launch in the third quarter…
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GOLD Gold is still suffering against the strength of the greenback with the price unable to rebound. Bullion has lost more than $350 from the record reached last summer as investors are betting on a quick economic recovery. Negative sentiment is still dominating in the short-term, while the medium-term trend has also been compromised by the…
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OIL Oil is showing limited volatility with investors are in wait and see mode ahead of the OPEC meeting, which is likely to be a significant market mover for the sector. A reduction of the curbs in production imposed in the last few months could slow down the recent price rally but would probably not…
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GOLD Gold remains in the danger zone with a long row of decreasing lows certifying the temporary low investor interest in bullion. The strength of the greenback is increasing the bearish pressure on gold, an asset traditionally negatively correlated with the Dollar Index. Moreover, the rebound of yields seen last week has been detrimental for…
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OIL Oil is back in the green. As stocks recover from the selloff of the final part of last week, oil benchmarks are also trading positively. Friday’s decline seemed a psychological correction resulting in a temporary “risk off” scenario, as investors became nervous about an unstable bond market. Therefore, the main trend for the barrel…
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GOLD The commodity sector started the final trading session of the week in dark red with surging US yields worrying investors. Commodities, initially seen as a hedge to the potential return of inflation, are now being sold with copper slowing down and silver losing more than 2%. Gold hasn’t been able to benefit from this…
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The European Securities and Markets Authority (ESMA) announced that its Board has appointed Annemie Rombouts as Chair of the Corporate Reporting Standing Committee (CRSC). According to the official press release, Rombouts was previously Deputy Chair of the Belgian Financial Services and Markets Authority. Her new appointment as chair of the CRSC is effective immediately. Moscow Exchange…
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OIL Oil remains in a positive vein with the “long only” mood of the last few weeks continuing to dominate. WTI is now trading above $63, exactly $100 more than the historical low reached 10 months ago, when the price collapsed to -$37. The rally is linked to the risk on scenario and positive sentiment…
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EUROPEAN SHARES Most European equities continued their consolidation on Wednesday in contrast to extended losses in the Asian session overnight. Fed Chairman Jerome Powell tried to “reassure” investors yesterday saying the economic recovery still has a long way to go with dovish policies remaining in place as long as necessary. Investors don’t seem to be…
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