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Summary Dip in China consumer inflation points to weak demandU.S. inflation report due on WednesdayComing up: API data on US crude stocks at 4:30 p.m. Brent crude futures settled up $1.43, or 1.7%, to $85.61 a barrel. U.S. West Texas Intermediate futures rose $1.79, or 2.2%, to $81.53 a barrel. read moreA U.S. inflation report to be released on Wednesday is expected to help investors gauge the near-term trajectory for interest rates. OPEC output will fall by 500,000 bpd in 2023, then rise by 1 million bpd in 2024, after the group's output agreement expires, the Energy Information Administration forecast on Tuesday.

☆ Dollar dips ahead of inflation data due Wednesday
▼ + stars: | 2023-04-11 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

NEW YORK, April 11 (Reuters) - The dollar fell on Tuesday as investors waited on inflation data for further signs of whether price pressures are ebbing and what it means for further Federal Reserve interest rate hikes. Consumer price data on Wednesday is expected to show headline inflation rose by 0.2% in March, while core inflation rose 0.4%. (USCPI=ECI), (USCPF=ECI)"A lot of traders are focused on this inflation data," said Edward Moya, senior market analyst at OANDA in New York. Strong jobs data for March have added to expectations that the U.S. central bank will complete one more rate hike. European bond yields rose sharply on Tuesday, catching up after the break.

☆ Oil steady on China demand concerns with US inflation in focus
▼ + stars: | 2023-04-11 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

Summary China consumer inflation drop points to weak demandU.S. inflation report due WednesdayComing up: API data on US crude stocks at 4:30 p.m. Brent crude futures slipped 18 cents, or 0.2%, to $84 a barrel by 1102 GMT, while U.S. West Texas Intermediate futures eased 12 cents, or 0.1%, to $79.62 a barrel. A U.S. inflation report to be released on Wednesday could help investors gauge the near-term trajectory for interest rates. "The short-term crude demand outlook will soon be clearer. "Wall Street should have a strong handle on the trajectory of the economy after it gets a pivotal inflation report."

☆ Dollar pauses after strong gains on hawkish Fed bets; bitcoin hits $30,000
▼ + stars: | 2023-04-11 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Leading cryptocurrency bitcoin briefly touched $30,000 for the first time since June. The U.S. dollar index - which measures the greenback against six major counterparts, including the yen - slipped 0.06% in early Asian trading, following a 0.39% advance at the start of the week. The consumer price index (CPI), due on Wednesday, will be the next major clue for Fed policy direction. The dollar index dropped to a two-month low of 101.40 on Wednesday. Bitcoin touched a fresh 10-month high at $30,000 in early Tuesday trade before last fetching $29,787, after breaking free of recent ranges on Monday.

☆ Gold off one-year highs as dollar firms ahead of U.S. payrolls data
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from one-year highs on Thursday as the dollar regained some ground, while investors awaited the U.S. non-farm payrolls report to gage the Federal Reserve's monetary policy strategy. The economic data points this week were major components supporting gold prices, he added, while also noting some profit-booking ahead of the Good Friday holiday. Wednesday's data showed the U.S. services sector slowed more than expected in March. While gold is traditionally considered a hedge against inflation and economic uncertainties, higher interest rates dim non-yielding bullion's appeal. Markets see a 53.8% chance of the Fed standing pat on interest rates in May, according to CME's FedWatch tool.

☆ Oil prices stable as economic fears balance OPEC+ cuts, U.S. stock draw
▼ + stars: | 2023-04-05 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

[1/2] Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq March 9, 2020. REUTERS/Essam Al-Sudani/File PhotoLONDON, April 5 (Reuters) - Oil prices were stable on Wednesday, as the market weighed gloomy economic prospects against expectations of U.S. crude inventory declines and OPEC's voluntary output cuts announcement. Bullish sentiment continued after voluntary cuts pledged by the Organization of Petroleum Exporting Countries and allies including Russia, a group known as OPEC+. However, weak manufacturing activity in the U.S. and China - the two biggest oil consumers - have capped oil oil price gains. Record Russian diesel flows to the Middle East in March, and the sluggish performance of middle distillates contracts have "acted acted as a brake on any attempt to push crude oil prices meaningfully higher," Varga said.

Companies United States of America FollowApril 5 (Reuters) - Oil prices rose on Wednesday, boosted by expectations of U.S. crude inventory declines as well as the latest output cut targets set by the OPEC+ producer alliance. The rises came as an industry report showed U.S. crude stocks fell by about 4.3 million barrels in the week ended March 31. However, weak manufacturing activity in the U.S. and China - the two biggest oil consumers - have kept oil prices from moving up further, despite the prospect of tighter supply following the OPEC+ cuts. Traders will be looking for cues on broader economic trends from the U.S. non-farm payrolls data due later this week, analysts say. Reporting by Laila Kearney in New York; Editing by Gerry Doyle and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Binance 'could be in big trouble' as the CFTC lawsuit alleges the crypto behemoth dodged regulators and breached laws
▼ + stars: | 2023-03-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +10 min

Binance is being blow-torched from all angles as US regulators close in on the world's largest crypto exchange. The CFTC sued the exchange this week for violating US financial laws, whilst some reports suggest Binance has engaged in secret fund transfers. On Monday, the Commodities Futures and Trading Commission (CFTC) sued Binance and Zhao himself, for allegedly breaching US financial laws. Following the shocking implosion of Sam-Bankman Fried's FTX exchange late last year, concerns have risen whether Binance faces similar risks. If US authorities decide the links meant the crypto exchange had control over the US platform, it could expose the company to enforcement action.

☆ Bitcoin falls after CFTC sues crypto exchange Binance for allegedly breaking trading rules
▼ + stars: | 2023-03-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Cryptocurrencies dropped on Monday morning after the CFTC sued Binance, the biggest crypto exchange in the world, for allegedly violating trading rules. The price of bitcoin slid 2.5% to $27,142.29, according to Coin Metrics. In a court filing, the CFTC, or the Commodity Futures and Trading Commission, said Binance violated eight provisions of a commodities trading law "designed to prevent and detect money laundering and terrorism financing." It's the largest crypto exchange and any U.S. regulatory action against it will have huge implications for the industry," she said. "Many knew Binance had a bullseye on its back, but this is still unnerving some crypto traders," said Ed Moya, an analyst at Oanda.

[1/2] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 19, 2023. UBS will buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and agreed to assume up to $5.4 billion in losses as it winds down the smaller peer's investment bank after a shotgun merger engineered by Swiss authorities. The U.S., UK and Swiss central banks are all scheduled to meet in the week ahead. Even after Sunday's news on Credit Suisse, optimism from analysts was laced with caution and some scepticism. Others drew attention to the losses likely to be suffered by Credit Suisse junior bondholders.

☆ UBS to take over Credit Suisse, central banks act on liquidity
▼ + stars: | 2023-03-19 | by ( Reuters Staff | ) www.reuters.com time to read: +13 min

LONDON/NEW YORK (Reuters) -UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. FILE PHOTO: The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. The reports that UBS is acquiring Credit Suisse will likely magnify Credit Suisse’s problems by moving them to UBS... The Credit Suisse issues are not new and needed to be resolved years ago. A legal challenge by Credit Suisse shareholders, who will claim that their property has been illegally confiscated, is guaranteed.

☆ Bitcoin is up 60% so far this year as investors rediscover appeal as alternative banking system
▼ + stars: | 2023-03-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Cryptocurrencies stood out this week as bank shares tumbled and the global liquidity crisis rocked the stock market. Bitcoin versus the banks The price of bitcoin twice rose above the key $25,200 level to more than $26,000, according to Coin Metrics. BTC.CM= 1Y mountain Bitcoin, 1-year Bitcoin's outperformance amid a crisis in the traditional banking system had some wondering if the price rallied on a potential narrative shift. Though bitcoin was initially designed to be digital cash and an alternative financial system, it spent much of last year trading like a speculative asset. "In practice, bitcoin isn't isolated from the traditional banking system.

Credit Suisse fell 8% in Europe and First Republic tumbled 30%. Banking troubles revived memories of the 2008 financial crisis, when dozens of institutions failed or were bailed out with billions of dollars of government and central bank money. Earlier this week, the franc plunged the most against the dollar in one day since 2015, when the Swiss central bank loosened its currency peg. Japan's Ministry of Finance, Financial Services Agency and Bank of Japan officials met on Friday evening to discuss financial markets. Masato Kanda, vice finance minister for international affairs, told reporters after the trilateral meeting that the government, the central bank and the banking watchdog would coordinate to ensure the stability of the financial system.

☆ Oil tumbles 6%, heads for worst day since July as banking crisis routs markets
▼ + stars: | 2023-03-15 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Oil prices fell Wednesday, as traders feared a brewing banking crisis could dent global economic growth. "Now near the mid-$60s, WTI crude's plunge is at the mercy of how much worse the macro picture gets." It also raised concern over the state of the global banking system less than a week after two U.S. regional banks failed. Entering this week, traders had priced in at least a 25 basis-point rate hike. Correction: Oil was headed for its worst day since July.

New York CNN —This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo. Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators. Founded in 1983, SVB specialized in banking for tech startups. At the same time, venture capital began drying up, forcing startups to draw down funds held by SVB. By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer.

☆ Oil flat as China hopes, US stock draw contend with economic concerns
▼ + stars: | 2023-03-09 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

Brent crude futures had edged up by 2 cents to $82.68 per barrel by 0400 GMT, while U.S. West Texas Intermediate (WTI) crude futures eased by 1 cent to $76.65 a barrel. "Oil prices are still under the influence of Powell's hawkish tone recently, and the increasing possibility of another 50 basis points hike rather than a 25 basis points one," said Suvro Sarkar, lead energy analyst at DBS Bank. "Oil prices will be caught in the tug of war between sentiment surrounding rate hikes and inflation targeting on the one hand, and China reopening on the other for much of the year, at least the first half." Despite the EIA inventory report posting the first crude draw of the year, crude demand uncertainty over the short term is "keeping oil prices heavy," said OANDA senior analyst Edward Moya in a note. "Until we see clear signs of China's recovery gaining steam, oil prices look like they want to stay heavy."

☆ FIFA appointment of supermodel Lima 'baffling' - ex-Council member Dodd
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

March 2 (Reuters) - FIFA's appointment of supermodel Adriana Lima as its global fan ambassador in a Women's World Cup year is "baffling" and sends the wrong message to players and fans, former FIFA Council member Moya Dodd said. "I asked whether the FIFA ambassador will be delivering messages on body image, wellbeing and healthy eating. A prominent women's soccer advocate, Dodd represented Australia 24 times from 1986-95 and played in FIFA's women's invitational tournament in 1988, three years before the inaugural Women's World Cup. "In a FIFA World Cup year, that's the message that should be ringing loud and true around the world. This month, Dodd criticised FIFA for a lack of understanding of the women's game amid reports that Saudi Arabia's tourism authority would sponsor the July 20-Aug. 20 World Cup.

Brent crude futures for April , due to expire on Tuesday, were up by 39 cents to $82.84 per barrel by 0718 GMT. Likewise, U.S. West Texas Intermediate (WTI) crude futures gained 61 cents to $76.29 a barrel. Brent and WTI futures were both on track, however, for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. Seven analysts polled also estimated that gasoline stocks rose by about 700,000 barrels.

Brent crude futures for April , due to expire on Tuesday, gained 14 cents to $82.59 per barrel by 0443 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 21 cents to $75.89 a barrel. Brent and WTI futures were both on track for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds.

☆ Oil little changed as Russian supply cuts support prices
▼ + stars: | 2023-02-27 | by ( Sudarshan Varadhan | ) www.reuters.com time to read: +2 min

Companies Polski Koncern Naftowy Orlen SA FollowSINGAPORE, Feb 27 (Reuters) - Oil was little changed in early trade on Monday, as Russia's plans to deepen oil supply cuts continued to support prices, while increasing global inflation risks and rising crude inventories in the United States weighed. Oil prices have fallen by about a sixth in the year since Feb. 24, 2022, when Russian troops first marched into Ukraine. Two weeks after the invasion, prices surged to a record high of nearly $128 a barrel over supply concerns, but have since cooled over fears of a global economic slowdown. "China's manufacturing PMI data for February will be key to steering the oil prices for this week. A rebound in Chinese economic data will boost sentiment and improve the demand outlook," said Tina Teng, an analyst at CMC Markets.

☆ Why the resilient US economy is making it difficult for stock investors to thrive
▼ + stars: | 2023-02-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The recent stock rally is crumbling as inflation data shows the Fed still has more work to do. But data also shows the economy is strong, and that could help the US avoid a recession. But investors aren't cheering for a strong economy. This follows data earlier in the month that showed the US economy has been resilient in the face of higher interest rates. And, ultimately, the Fed will have the last word for stocks, even if the economy holds up to its aggressive policy.

☆ Oil gains on Russian supply cut worries, but higher U.S. inventories weigh
▼ + stars: | 2023-02-24 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

BEIJING, Feb 24 (Reuters) - Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.7%, to $82.82 per barrel by 0215 GMT. The prospect of further rate hikes supported the dollar index , which was set for a fourth straight week of gains. Oil has also been pressured by a surge in U.S. crude inventories to the highest since May 2021, as refiners ran less oil during a strong maintenance season. Crude inventories rose by 7.6 million barrels to a about 479 million barrels, data from the U.S. Energy Information Administration said.

☆ S&P ends down as Fed minutes fail to halt losing run
▼ + stars: | 2023-02-22 | by ( David French | ) www.reuters.com time to read: +4 min

However, a general weakening in the final hour of trading pushed both the S&P 500 (.SPX) and the Dow Jones Industrial (.DJI) back into the red. The Dow fell 84.5 points, or 0.26%, to 33,045.09, the S&P lost 6.29 points, or 0.16%, to 3,991.05 and the Nasdaq added 14.77 points, or 0.13%, to 11,507.07. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., February 17, 2023. Most of the 11 major S&P 500 sectors fell, with energy (.SPNY) and real estate (.SPLRCR) the poorest performers. The S&P 500 posted four new 52-week highs and one new low; the Nasdaq Composite recorded 36 new highs and 110 new lows.

☆ Brent oil lower amid stronger dollar, caution ahead of Fed minutes
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: +2 min

The Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday. Brent crude was down 59 cents, or 0.5%, at $83.57 a barrel on Tuesday. U.S. West Texas Intermediate crude (WTI) for March, which expires on Tuesday, was up 78 cents, or 1.02%, at $77.12 at 0146 GMT. "The U.S. dollar strengthened and pressed on the oil price in the Asian session today, causing a pullback in the oil markets from yesterday's rebound," said Tina Teng, an analyst at CMC Markets. Russia plans to cut oil production by 500,000 barrels per day, equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products.

☆ Oil prices slide as the US says it will sell millions more barrels of oil from its strategic reserve into the global market
▼ + stars: | 2023-02-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Oil prices fall Tuesday after the US said it plans to sell more oil from the Strategic Petroleum Reserve. The Energy Department will start the sale of 26 million barrels of sweet crude in April. Brent crude oil, the global benchmark, fell 1.5% to $85.40 a barrel but was off lows of the session. The drop in oil prices Tuesday was also taking place as US consumer price inflation data showed prices eased in January, but it was by less than anticipated. OPEC, meanwhile, on Tuesday, raised its 2023 oil demand forecast by 100,000 barrels per day, to 2.3 million barrels, as China reopens its economy after strict COVID-related restrictions.

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