NAGA says oil rises to USD 88.12 as geopolitical risk premium returns
SPY•Oil, metals and inflation outlook
- US crude rose to USD 88.12 on renewed supply-risk pricing; gold and silver stalled at technical resistance despite a softer dollar.
- Higher oil prices were seen as a potential obstacle to disinflation, complicating the policy outlook.
Markets struggle for direction amid geopolitics and central bank messaging
- The NAGA Group flagged geopolitics and central bank messaging as key drivers as markets struggle for direction.
- EUR/USD held near 1.14 ahead of the ECB decision, with Christine Lagarde’s press conference seen as the main catalyst.
- S&P 500 traded near 7,460, supported around 7,435; Nasdaq near 28,900, below its 50-day average amid rotation from AI leaders.
