Oil declines as Asian stocks fall and bond yields also fall as the dollar stabilizes

The dollar index measuring the safe-haven currency against six major peers was little changed during Monday’s trade
and Brent fell to $102.39 per barrel, while Asian stocks were losing steam as a result of recession concern.

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Oil prices fall on Monday due to traders’ concern

Asian stocks decline amid bond yields concern over Fed recession

Dollar rises slightly as Fed meeting swings and growth risks

Oil prices fall on Monday due to traders’ concern

about prospects for economic growth and energy demand globally

This week’s market focus is on the US Fed meeting,
and as a result the Fed may again increase the prime interest rate significantly.

In the experts’ view,
the Fed’s serious tightening of monetary policy could lead to a recession in the US economy.

The oil market remains highly volatile,
but downward pressure is expected to continue,
and the Fed’s meeting is likely to serve as another reminder of economic complexities.

Brent crude futures for September fell by $0.81 by 0.78 percent on the London Futures Exchange,
to $102.39 per barrel, and Brent crude fell on Friday by $0.66 or 0.6 percent to $103.2 per barrel.

The September futures price for West Texas Intermediate crude
at the time was lower in electronic trading on the New York Mercantile Exchange
(NYMEX) by $0.93 (0.98%), to $93.77 per barrel.

During the previous session,
the futures contract fell by $1.65, down 1.7 percent to $94.7 per barrel.

An expert wrote on social media that consumption growth in recent years has lagged behind the 40-year
average due to coronavirus restrictions and should return to normal levels.

artıcal name Oil declines as Asian stocks fall

Asian stocks decline amid bond yields concern over Fed recession

Asian stocks lost steam on Monday morning,
falling from three-week highs as concern over the global economic slowdown dampened investor appetite for risk.

Bond yields declined on bets that an expected recession in the United States would slow the Fed’s aggressive clampdown,
as markets look for political evidence from a two-day Federal Open Market Committee meeting beginning on Tuesday.

In the meantime, the dollar rebounded from a two-and-a-half week low against major currencies,
boosted by demand for the US currency as a safe haven.

Japan’s Nikkei index fell by 0.75 percent,
while China’s blue-chip index fell by 0.82 percent.

Hong Kong’s Hang Singh index fell by 0.75 percent,
with the technology index falling by 1.96 percent.

MSCI’s broadest index of Asia-Pacific stocks fell by 0.54 percent to 158.80,
after approaching its highest level since June 29 at 160.03 on Friday.

S&P 500 futures fell by 0.08 percent in the United States,
indicating an extension of the benchmark index’s 0.93 percent decline on Friday,
when the business survey showed a contraction for the first time in nearly two years
amid severe inflation and rapidly rising interest rates.

Earlier that day,

data also showed business activity in the eurozone shrank unexpectedly.

Nasdaq futures were almost flat, after a 1.77 percent fall for the heavy stock index,
with the bottom falling after Snapchat’s owner posted the weakest sales growth on record.

In Europe, EURO STOXX 50 futures fell by 0.61 percent, and FTSE futures declined by 0.52 percent.

The 10-year US Treasury yield was slightly unchanged at 2.785 percent
after falling from 3.083 percent during the previous two sessions.

Japanese equivalent government bond yields fell to their lowest level since March 10 at 0.18 percent,
and Australian yields fell to their lowest level since May 31 at 3.285 percent.

The Federal Reserve concludes its two-day meeting on Wednesday
and markets are priced in for a 75-point rate hike,
with about 9 percent likely to increase one full percentage point.

artıcal name Oil declines as Asian stocks fall

Dollar rises slightly as Fed meeting swings and growth risks

The dollar was in full swing on Monday, as traders prepared to raise US interest rates sharply this week
and looked for safety as data suggested a weakening global economy.

The dollar rose slightly against most major currencies in the Asia session,
trading at $1.0208 against the euro and settling losses on Friday to buy 136.26 Japanese yen.

The slowdown prompted traders to fall back on tough expectations,
as they worried that a wobbly economy could only withstand higher interest rates,
but investors did not cut the dollar away from higher levels since the global outlook is too confusing.

The US dollar index settled at 106.650 on Monday morning,
slightly below the two-decade high in mid-July of 109.290 and analysts do not see the dollar facing much in the future.

Sterling fell on Monday, even as markets estimated a 60 percent
chance of the Bank of England raising interest rates by 50 basis points next week.

Australian and New Zealand dollars also fell from their one-month highs,
each down about 0.3 percent in the Asian trading session.

The Australian dollar was last down at $0.6907 and the New Zealand dollar was down at $0.6235.

Australian consumer price data is due on Wednesday and is expected to reach a three-decade high.

The gloomy forecast is that th Australian dollar has more downside than upside risk and can test $0.6800 this week.

artıcal name Oil declines as Asian stocks fall

Oil declines as Asian stocks fall

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