Press ESC to cancel
New short positions came into the market which has so far barely budged in 2017.
President Trump's speech to the joint houses of Congress provided very little in the way of detail on the administration's economic policy.
President Trump proposes to boost defence spending by 10% (USD 54bn) in his first budget, according to officials.
ECONOMICS, GLOBAL MACRO
Investors keep piling into long positions despite a lack of movement in prices
Trump speech to congress a non-event for markets
Trump aims to increase defence spending 10%
Oil longs take a breather
Market focus shifts to US fiscal policy
WTI longs hit another record level
After heavy focus on the Fed in recent weeks markets are likely to turn their attention to US fiscal policy in the coming one.
The minutes of the last FOMC meeting left the door open for a rate hike in March, but this still seems unlikely given the uncertainty over US fiscal policy.
ECONOMICS, GLOBAL MACRO
Oil markets ended yesterday higher, breaking out of their recent trading range, following comments from OPEC's secretary general that the producers' bloc was seeking full compliance with its productio
OPEC producers managed a high degree of compliance in the first month of their cut but risk setting a rod for the own back to try and keep output under control.
Volatility in oil futures has dwindled in 2017, presenting an unbalanced picture of oil market fundamentals.
Global economic activity gains momentum
GCC Equity Flow Monitor
GCC Credit Weekly
Long-dated Brent futures have moved into backwardation but there are risks that the structure will dissipate
MENA oil producers could see market share battle restart if the US is able to export crude tax free.
Investors are piling into WTI on the expectation that changes to US tax law could see the contract trade at a premium to Brent.
We are revising our copper price forecast but expect some momentum to fade by H2 2107.
After snapping a three year losing streak in 2016 we see some renewal of the downside for gold in 2017.
OPEC's production hit 33.87m bpd in November, setting itself a tall order to hit its production target of 32.5m bpd from January.
By endorsing its target of 32.5m bpd, OPEC has given up on its market share strategy in favour of targeting prices.
The trajectory for oil prices is largely set for next year. But their starting point depends on the outcome of OPEC's upcoming meeting.
Markets appear to be at an inflection point as bond yields soar and the dollar surges in the wake of Donald Trump's surprise election win.
Yesterday saw a continuation of the recent trend of strong data releases out of the U.S.
Debt issuance has been a theme for the region all year and with Saudi Arabia announcing the terms of its new sovereign bond this looks set to remain in focus.
Terms and Conditions
Copyright © 2017 Emirates NBD Bank PJSC. All Rights Reserved