Last week saw a sharp decline of 22.23% in Natural Gas futures (NGAS), with prices falling to $4.113 per MMBtu (million British thermal units). What drove such a pronounced move? First, a preliminary clarification is warranted. Commodities exhibit materially higher volatility than equities or FX. This is readily observable in instruments such as crude oil […]
Canada is the United States’ second-largest trading partner after Mexico, with total bilateral trade reaching $770 billion in 2024. Of this, $422 billion consisted of U.S. exports and $349 billion of imports, resulting in a U.S. trade surplus of USD 73 billion. Canada, the U.S., and Mexico operate under the USMCA framework, which came into […]
While mega-cap tech companies continue to deploy extraordinary levels of capital into data-center infrastructure—this morning’s headlines note that both Amazon and Microsoft will invest billions in India, USD 35bn and 17.5bn respectively—the standout in yesterday’s U.S. session was the Russell 2000. It was the only among the most-traded U.S. equity indices to register new all-time […]
This morning, the Reserve Bank of Australia left its policy rate unchanged at 3.6% for the fourth consecutive meeting, with AUD/USD emerging as the best performer among major currency pairs. The RBA is the first of the four major central banks meeting this week, all of which face the same challenge: balancing inflation that remains […]
In a week packed with macroeconomic releases—one that will see four major central banks, including the Federal Reserve, announce potential changes to their monetary policy—the USD Index (USDX) begins trading at 98.63. This places the index closer to its H2 2025 highs (100.35 recorded on 20 November) than to its semiannual lows (95.85 reached on […]
Over the past weekend, OPEC+—the world’s leading oil-producing coalition comprising eight countries including Saudi Arabia and Russia and accounting for roughly one-third of global crude output—announced a voluntary pause to the production increases originally planned for the next three months. The initial proposal envisaged adding 1.65 million barrels per day to its current output of […]
At 08:00 GMT this morning, the minutes of the latest meeting of the Financial Policy Committee (FPC) will be released. The FPC is the Bank of England’s body responsible for safeguarding the stability of the UK financial system. Its assessment will be particularly interesting given that the country’s macroeconomic backdrop is far from vibrant—although, to […]
Peripheral markets have performed well so far in 2025—speaking about Europe: the Spanish IBEX 35 ( you will find it as ESP35Cash) is leading the gains with +40.92%, followed at a distance by the Italian FTSE MIB (+26.02%). Further behind are the core markets and Europe’s main laggard, France (CAC +9.99%). Spain’s economy has been […]
Silver’s dual nature—as both an investment asset and a critical industrial input—continues to shape its market dynamics. It is primarily the industrial side that has driven demand in 2025, which is expected to remain stable at around 1.20 billion ounces. The automotive sector has been a key contributor, as increasingly sophisticated and environmentally focused vehicles […]
It is generally undesirable for markets to approach a holiday period with unresolved concerns. While the “Santa Claus rally” is well known, markets also tend to perform strongly ahead of other holidays, including this week’s Thanksgiving break. This is a shortened trading week in the United States, with equity markets closed today and reduced hours […]
