BP PLC (BP)

The US dollar enjoys a firmer bias against the major currencies ahead of the July employment data. Emerging market currencies are mixed. Asian currencies are generally firm while central Europe is a...

Strong gains in US equities yesterday and easing fears following Pelosi’s visit to Taiwan helped lift most Asia Pacific equities, with Hong Kong leading the way with a 2% rally. Taiwan, Australia, and...

The physics-based approach I am using indicates that the world’s economy is likely to change dramatically for the worse in the months and years ahead.

Despite the ongoing impact the pandemic has had on U.S. oil production, the U.S. remained the world’s top oil producer in 2021 at 11.2 million BPD.

Better US news from the likes of Google, Microsoft, and Texas Instruments has helped lift sentiment today and is encouraging a more risk-on mood ahead of the FOMC meeting.

As risk appetites wane, the US dollar is bouncing higher against the Canadian dollar. It set a new low for the month today in late Asia/early European activity near CAD1.2815.

The euro is over a cent lower from yesterday’s peak, pressured by the drop in the flash PMI composite below 50 for the first time since early last year.

There is still strong pressure to avoid an early election in Italy until three objectives are accomplished: electoral reform, next year's budget, and the reform needed to secure EU funds. 

The biggest rally in the S&P 500 in three weeks helped lift global equities today, though the rally in equities has not spurred a rise in rates, and gold remains pinned near its trough.

The dollar’s downside correction continues today, helped by hawkish signals from the Reserve Bank of Australia and unnamed sources who have played up the chances of a 50 bp hike by the European...