{"id":544,"date":"2023-02-08T18:02:33","date_gmt":"2023-02-08T23:02:33","guid":{"rendered":"https:\/\/embarrdowns.com\/technology-energy-and-commodities-markets-see-flurry-of-activity-as-us-yields-rise-and-fed-hawks-drive-further-rate-hikes\/"},"modified":"2023-02-08T18:02:33","modified_gmt":"2023-02-08T23:02:33","slug":"technology-energy-and-commodities-markets-see-flurry-of-activity-as-us-yields-rise-and-fed-hawks-drive-further-rate-hikes","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/technology-energy-and-commodities-markets-see-flurry-of-activity-as-us-yields-rise-and-fed-hawks-drive-further-rate-hikes\/","title":{"rendered":"Technology, Energy, and Commodities Markets See Flurry of Activity as US Yields Rise and Fed Hawks Drive Further Rate Hikes"},"content":{"rendered":"

This week has seen a flurry of activity in the technology, energy, and commodities markets. In response to Microsoft’s ChatGPT, Google has unveiled their own conversational Artificial Intelligence, dubbed Bard AI.[0]<\/a><\/sup> Microsoft scheduled a mystery event for today and Baidu announced that it will roll out its own AI in March, which saw its shares jump 15% in Hong Kong.[1]<\/a><\/sup> The US 2-year yield is above the levels it kicked off the year, the US 10-year yield is following suit, and the dollar is sharply bid this week.[2]<\/a><\/sup><\/p>\n

Rising geopolitical tensions, and the Fed hawks feed into higher US yields, with the S&P500 retreating by 0.60% yesterday and Nasdaq 100 losing 0.87%.[3]<\/a><\/sup> Losses could extend toward 4030 for the S&P500 this week, the minor 23.6% retracement on October to last week rally, and toward 12040 for Nasdaq.[3]<\/a><\/sup> In energy and commodities, Indian Tata steel announced an unexpected loss last quarter and the shares slipped more than 4%, while BP is to announce its earnings shortly.[3]<\/a><\/sup> Crude oil rebounded past the $75pb but solid offers are yet to be cleared into the 50-DMA, which stands a touch above the $77pb level.[1]<\/a><\/sup><\/p>\n

It is predicted that the Reserve Bank of Australia will increase interest by 25 basis points, setting the official cash rate at 3.35%, due to persistent inflation.[0]<\/a><\/sup> The Atlanta Fed President Raphael Bostic even said that the strong jobs report may encourage the Fed to raise the interest rates further above the 5% mark, which would require one more 25bp rate hike, on top of two more already expected.[3]<\/a><\/sup> He suggested that the pipeline could even be increased by 50bp.[3]<\/a><\/sup> Yesterday, the US declared their intent to impose a 200% tariff on Russian aluminum by the end of this week on the Russian front.[3]<\/a><\/sup><\/p>\n

In currencies markets, the EURUSD tanked to 1.0710 yesterday, and rebounded from the lower band of the latest bullish trend, while the USDJPY jumped to 132, and challenged its own 50-DMA resistance.[3]<\/a><\/sup> Cable consolidates a touch above the 1.20 mark and the Aussie-dollar is better bid today as the Reserve Bank of Australia (RBA) hiked the rates by 25bp points as expected.[2]<\/a><\/sup><\/p>\n

0. <\/span>“US stocks extend losses, RBA set to decide rates” CMC Markets, 6 Feb. 2023, https:\/\/www.cmcmarkets.com\/en\/news-and-analysis\/morning-wrap-us-stocks-extend-losses-rba-set-to-decide-rates<\/a><\/a><\/p>\n

1. <\/span>“Geopolitical tensions, Fed hawks weigh on sentiment [Video]” FXStreet, 7 Feb. 2023, https:\/\/www.fxstreet.com\/analysis\/geopolitical-tensions-fed-hawks-weigh-on-sentiment-202302070912<\/a><\/a><\/p>\n

2. <\/span>“Rising geopolitical tensions, Fed hawks take a toll on sentiment” FXStreet, 7 Feb. 2023, https:\/\/www.fxstreet.com\/analysis\/rising-geopolitical-tensions-fed-hawks-take-a-toll-on-sentiment-202302070647<\/a><\/a><\/p>\n

3. <\/span>“Rising Geopolitical Tensions, Fed Hawks Take a Toll on Sentiment” Action Forex, 7 Feb. 2023, https:\/\/www.actionforex.com\/contributors\/fundamental-analysis\/485101-rising-geopolitical-tensions-fed-hawks-take-a-toll-on-sentiment\/<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This week has seen a flurry of activity in the technology, energy, and commodities markets. In response to Microsoft’s ChatGPT, Google has unveiled their own conversational Artificial Intelligence, dubbed Bard AI.[0]<\/a><\/sup> Microsoft scheduled a mystery event for today and Baidu announced that it will roll out its own AI in March, which saw its shares jump 15% in Hong Kong.[1]<\/a><\/sup> The US 2-year yield is above the levels it kicked off the year, the US 10-year yield is following suit, and the dollar is sharply bid this week.[2]<\/a><\/sup><\/p>\n

Rising geopolitical tensions, and the Fed hawks feed into higher US yields, with the S&P500 retreating by 0.60% yesterday and Nasdaq 100 losing 0.87%.[3]<\/a><\/sup> Losses could extend toward 4030 for the S&P500 this week, the minor 23.6% retracement on October to last week rally, and toward 12040 for Nasdaq.[3]<\/a><\/sup> In energy and commodities, Indian Tata steel announced an unexpected loss last quarter and the shares slipped more than 4%, while BP is to announce its earnings shortly.[3]<\/a><\/sup> Crude oil rebounded past the $75pb but solid offers are yet to be cleared into the 50-DMA, which stands a touch above the $77pb level.[1]<\/a><\/sup><\/p>\n

It is predicted that the Reserve Bank of Australia will increase interest by 25 basis points, setting the official cash rate at 3.35%, due to persistent inflation.[0]<\/a><\/sup> The Atlanta Fed President Raphael Bostic even said that the strong jobs report may encourage the Fed to raise the interest rates further above the 5% mark, which would require one more 25bp rate hike, on top of two more already expected.[3]<\/a><\/sup> He suggested that the pipeline could even be increased by 50bp.[3]<\/a><\/sup> Yesterday, the US declared their intent to impose a 200% tariff on Russian aluminum by the end of this week on the Russian front.[3]<\/a><\/sup><\/p>\n

In currencies markets, the EURUSD tanked to 1.0710 yesterday, and rebounded from the lower band of the latest bullish trend, while the USDJPY jumped to 132, and challenged its own 50-DMA resistance.[3]<\/a><\/sup> Cable consolidates a touch above the 1.20 mark and the Aussie-dollar is better bid today as the Reserve Bank of Australia (RBA) hiked the rates by 25bp points as expected.[2]<\/a><\/sup><\/p>\n

0. <\/span>“US stocks extend losses, RBA set to decide rates” CMC Markets, 6 Feb. 2023, https:\/\/www.cmcmarkets.com\/en\/news-and-analysis\/morning-wrap-us-stocks-extend-losses-rba-set-to-decide-rates<\/a><\/a><\/p>\n

1. <\/span>“Geopolitical tensions, Fed hawks weigh on sentiment [Video]” FXStreet, 7 Feb. 2023, https:\/\/www.fxstreet.com\/analysis\/geopolitical-tensions-fed-hawks-weigh-on-sentiment-202302070912<\/a><\/a><\/p>\n

2. <\/span>“Rising geopolitical tensions, Fed hawks take a toll on sentiment” FXStreet, 7 Feb. 2023, https:\/\/www.fxstreet.com\/analysis\/rising-geopolitical-tensions-fed-hawks-take-a-toll-on-sentiment-202302070647<\/a><\/a><\/p>\n

3. <\/span>“Rising Geopolitical Tensions, Fed Hawks Take a Toll on Sentiment” Action Forex, 7 Feb. 2023, https:\/\/www.actionforex.com\/contributors\/fundamental-analysis\/485101-rising-geopolitical-tensions-fed-hawks-take-a-toll-on-sentiment\/<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":543,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/544"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/543"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}