Category Archives: Weekly Outlook
Rate Hike Overshadows US ADP Nonfarm Employment Figures
Written on May 5, 2022 at 7:02 am, by jonywang
On Wednesday afternoon (GMT+3), the US ADP Nonfarm Employment Change figures were announced, revealing that employment in the US rose by 247,000, lower than the forecasted increase of 395,000 and the previous month’s increase of 479,000. Markets were largely unmoved by the ADP Employment figures as participants awaited the Fed’s interest rate decision. For theContinue Reading
Russia Cuts Gas to Poland and Bulgaria
Written on May 2, 2022 at 1:22 am, by jonywang
Gazprom, the Russian state-controlled energy giant, has announced that it has cut off supplies of natural gas to Poland and Bulgaria. The move is the first of its kind to result from the Kremlin’s insistence that “unfriendly countries” pay for Russian energy in rubles. Russia’s currency plunged into freefall at the onset of the Russia-UkraineContinue Reading
US Shares Rout on Inflation Fears
Written on April 27, 2022 at 8:56 am, by jonywang
US shares plunged on Tuesday night (GMT+3) as investor fears about spiking interest rates, slowing economic growth, and rampaging inflation culminated in a rout. The S&P 500 closed the day by 2.8% lower to 4,175.20, Dow Jones slid around 800 points to 33,240.18, while the tech-heavy Nasdaq Composite plunged nearly 4% to 12,490.74, hitting itsContinue Reading
An Imminent Global Food Crisis?
Written on April 25, 2022 at 1:51 am, by jonywang
Russia’s war in Ukraine has had a profound effect on global food distribution, and world leaders are anxious to address any coming issues. US Treasury Secretary Janet Yellen will be meeting ministers from industrial nations – including IMF leaders and G7 members – around the world to address the growing food supply crisis caused byContinue Reading
8 Million EIA Inventory Drop Sends Crude Prices Up
Written on April 21, 2022 at 3:52 am, by jonywang
On Wednesday (GMT+3), the US Energy Information Administration reported a large decrease of 8.02 million barrels in its crude oil inventories, bringing its current inventory to 413.7 million barrels. The numbers are far from the forecasted increase of 2.471 million barrels, and last week’s increase of 9.382 million. Meanwhile, gasoline inventories see a decrease ofContinue Reading
OPEC: Russian Crude “Nearly Impossible” to Replace
Written on April 18, 2022 at 1:39 am, by jonywang
The Organisation of Petroleum Exporting Countries (OPEC) has warned that it would not be possible to replace the 7 million barrels of Russian oil and other liquid exports that will potentially be lost each day due to current and future sanctions. While the EU has not yet banned imports of Russian energy, the option hasContinue Reading
Huge EIA Inventory Increase Fails to Soothe Oil Prices
Written on April 14, 2022 at 3:15 am, by jonywang
On Wednesday (GMT+3), the US Energy Information Administration reported an increase in 9.382 million barrels in its crude oil inventories. This is significantly higher than both the estimated increase of 863,000 barrels, and the previous number of 2.421 million barrels. An increase in inventories usually implies weaker demand and would be bearish for crude prices.Continue Reading
FOMC Minutes Point To $95b Balance Sheet Cuts
Written on April 7, 2022 at 6:42 am, by jonywang
On Wednesday, 6 April (GMT+3), the Federal Open Market Committee (FOMC) released the minutes for its 15-16 March meeting. As expected, the meeting was focused on discussing the tightening measures that the Fed would take to rein in galloping inflation. Chiefly, the central bank has plans to shrink its almost-US$9 trillion balance sheet at aContinue Reading
Singapore Increasingly Seen as Safe Haven For Chinese Wealth
Written on April 4, 2022 at 6:37 am, by jonywang
As Beijing’s crackdown on the country’s wealthy continues under president Xi Jinping’s “common prosperity” policy, an increasing number of China’s affluent are moving their money to Singapore and setting up family offices. Singapore’s attractiveness stems from its large Chinese-speaking population, lack of wealth tax, and relative proximity. The trend started in 2019 following the economicContinue Reading
US ADP Nonfarm Data Points To Half-Point Rate Hike
Written on March 31, 2022 at 6:50 am, by jonywang
On Wednesday afternoon March 30 (GMT+3), the US ADP Nonfarm Employment Change data reported an increase in 455,000 jobs. This figure is slightyly more than the expected increase of 450,000, and down from the previous month’s value of 486,000. While higher than expected, March’s ADP Employment numbers are still the lowest seen since August 2021.Continue Reading
