Lack of direction looks likely near term

Open interest in natural gas futures markets extended the downtrend for yet another session on Wednesday, now by around 9.3K contracts. In the same direction, volume remained choppy and dropped markedly by nearly 134K contracts. Natural Gas looks supported around $6.50 Prices of natural gas charted another inconclusive session on Wednesday against the backdrop of … Read more

S&P 500 Futures stay pressured amid recession, Fed concerns on Juneteenth holiday

Market sentiment remains pessimistic as growth fears join hawkish Fed bets. S&P 500 Futures remain depressed around yearly low, yields stay unchanged on Juneteenth holiday. Fed’s Powell in focus, updates over China’s covid, Sino-America ties are also important for fresh impulse. Risk appetite remains sour as fears of economic slowdown join hopes of higher Fed … Read more

Yields poke weekly low, stock futures print mild gains as traders await Fed’s Powell

Market sentiment remains divided amid central banks’ moves, growth fears. US Treasury yields remain pressured for the third consecutive day. S&P 500 Futures, Euro Stoxx 50 Futures consolidated recent losses. Fed’s bi-annual monetary policy report, Powell’s speech will be crucial for fresh directions. Global markets remain dicey as central banks flex muscles to battle inflation. … Read more

Crude Oil Futures: Extra gains looks likely

CME Group’s flash data for crude oil futures markets saw traders add nearly 11K contracts to their open interest positions on Friday, extending the uptrend in place since May 23. Volume, instead, shrank by more than 282K contracts, leaving behind the previous daily build. WTI: Next target emerges at the 2022 high Crude oil prices … Read more

Further upside on the table near term

Considering advanced prints from CME Group for crude oil futures markets, traders added around 15.3K contracts to the current uptrend on Thursday. In the same line, volume remained choppy and went up by around 128.4K contracts, partially reversing the previous pullback. WTI: Next on the upside now appears $120.00 Prices of the WTI advanced markedly … Read more

S&P 500 Futures stays defensive around 4,100, US Treasury yields retreat amid sluggish markets

Market sentiment remains downbeat amid fears of growth, inflation joining hawkish Fedspeak. Headlines concerning China, Russia also weigh on the risk appetite ahead of US ADP Employment data. S&P 500 Futures struggles to pause two-day downtrend, US 10-year Treasury yields ease from two-week top. Global markets remain pressured as chatters surrounding recession join the hawkish … Read more