IN THE OVERNIGHT 14 MARCH
CPI 8:30 AM ET! Asian Markets RED – Europe Mixed Overnight Data/News US DATA TODAY OVERNIGHT COMMODITIY HEADLINES Metals Gold holds above $1,900 as SVB collapse fuels hopes of Fed pause Copper falls on firmer dollar, risk-off sentiment amid U.S. banking rout Gold bulls hope short-term bank contagion sparks longer-term rally: Russell Energy India Oil […]
WEEKEND PREP 12 MARCH
Big event last week was Jerome Powell’s Testimony in the Senate and House From Edward Jones: Two key takeaways: Then came NFP employment data on Friday The headline number came in HOT but the unemployment rate ticked up! February added 311K jobs (255K Bloomberg consensus) But unemployment ticked up from 3.4% to 3.6% Also Job […]
IN THE OVERNIGHT 10 MARCH
Pretty ugly out there..US Jobs Day!! Overnight News/Data US DATA TODAY OVERNIGHT COMMODITY HEADLINES Metals METALS-Copper falls, set for weekly decline amid Fed rate-hike fears, rising supplies Gold Rises Amid SVB Nervousness and NFP Data Energy Russia exporting diesel to Saudi via ship-to-ship loadings-traders, Refinitiv data Sudden spurt of Russian crude flows to India calls for […]
IN THE OVERNIGHT 9 MARCH
SEA OF RED Overnight Data/News US DATA TODAY COMMODITY HEADLINES OVERNIGHT Metals Gold prices move in narrow range as investors await US jobs data London copper eases as dollar clings to 3-month high CERAWEEK-Copper miners scramble for workers to supply green energy transition BHP eyes copper, nickel projects as it bypasses lithium Energy Speculators raise […]
IN THE OVERNIGHT 8 MARCH
Mixed Markets Asia-Europe Rather Red Overnight Data/News US DATA TODAY COMMODITIES HEADLINES OVERNIGHT Metals CERAWEEK-Rio Tinto keeps working to build Indigenous support for Resolution mine Energy Oil extends declines on rate hike concerns French strikes disrupt fuel deliveries, train and air traffic Kazakhstan Wants Its Oil to Circumvent Russia CERAWEEK-Russia wild card to keep oil […]
IN THE OVERNIGHT 7 MARCH
**Powell testifies at 10:00 AM ET before the Senate Banking, Housing, and Urban Affairs Committee in Congress** (this links to the live stream) Mixed Markets Overnight Data/News US DATA TODAY OVERNIGHT COMMODITIES HEADLINES Metals The PBoC added another ~25 metric tons of gold to its reserves in February, bringing the gold holdings to ~2,050 metric […]
SUNDAY MUSINGS: WEEKEND PREP 5 MARCH
BROADER MARKETS Markets continue to move sideways When Fed pivot? Edward Jones view: “Given ongoing inflationary pressures, market expectations for Fed rate hikes have notably increased since the start of the year. Market forecasts now call for three additional rate hikes in 2023 (in March, May and June FOMC meetings), which would bring the fed […]
IN THE OVERNIGHT 3 MARCH
Green Friday Overnight Data/News–Ton of data US DATA TODAY OVERNIGHT COMMODITIES HEADLINES Metals India: Gold jumps Rs 160; silver climbs Rs 220 Gold Stronger as Treasury Yield Dip Weighs on Dollar Gold could be getting support from the notion that the Fed will end its interest rate hikes before the ECB does METALS-Copper set for […]
IN THE OVERNIGHT 2 MARCH
Mostly Negative-Pretty Quiet Overnight Overnight News/Data US DATA TODAY COMMODITIES HEADLINES OVERNIGHT Metals Gold Price Rally Might be Short-Lived With the 2-Year Treasury Yield Nearing 5% Copper slips on firm dollar ahead of key China meeting Energy Amid a wave of gas-to-coal switching during the global energy crisis, CO2 emissions from coal grew by 1.6% […]
IN THE OVERNIGHT 1 MARCH
Sea of GREEN Overnight Data/News US DATA TODAY OVERNIGHT COMMODITY HEADLINES Metals Gold regains shine, price rises over 1% in Pakistan India: Gold jumps Rs 475; silver plummets Rs 1,225 METALS-Copper rises as China manufacturing data lifts demand hope Energy ESPO crude differentials soar on fresh buying from India, China (ESPO is Russian crude) India […]