Energy Prices Remain Very Volatile, Activities In The Markets

Stocks to keep an eye on in the second half of 2023

US equities eked out small gains yesterday as dip buyers timidly came in, but risks remain tilted to the downside with the disappointing inflation figures, and the risk of the largest rail strike in the US since 1992.

Crude Oil Prices

Released yesterday, the US producer price data didn’t enchant investors. The headline figure fell for the second consecutive month but the core PPI strengthened, hinting that most of the easing in producer inflation was due to cheaper energy prices – which however remain very volatile, and which, more importantly carries a decent upside risk.

The barrel of American crude flirted with the $90 mark yesterday, without however being able to clear resistance at this level. Energy companies gained despite news that Europeans are looking to raise $140 billion euros from energy companies to help households and businesses survive through winter.

The situation on the stock market

The S&P500 recover a part of losses yesterday, as Nasdaq gained 0.84%. But the risks remain clearly tilted to the downside. The US dollar remains relatively strong near the 20-year highs, the EURUSD consolidates below parity as gold slipped back below $1700 per ounce. The USDJPY retreated on expectation that the Bank of Japan (BoJ) could intervene to stop the yen’s depreciation.

Ethereum trades around $1600 as Merger Upgrade is now imminent!

Watch the full episode to find out more!

0:00 Intro
0:24 Dip buyers return to a risky market
2:31 US crude flirts with $90pb
3:41 US rail strike risk weighs on sentiment
4:55 Energy stocks rally despite EU measures to cope with crisis
7:07 Gold under pressure
7:50 BoJ could intervene to strengthen the yen
8:52 Ethereum Merges today!

Ipek Ozkardeskaya

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.

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Stocks to keep an eye on in the second half of 2023

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