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Currencies

Crushed FX volatility as dollar, finally, subsides

LONDON, Nov 22 (Reuters) - If you were looking for a klaxon to mark the end of the interest rate cycle, a crushing of currency market volatility rings loudly.Deutsche Bank's CVIX (.DBCVIX) - the currency market's version of Wall St's "fear index" of stock volatility and a weighted average of implied "vol" in nine major pairings - has basically imploded.Subdued since mid-year, the CVIX took another sharp leg lower this month and hit its lowest since mid-February 2022 - just before Russia's invasion of Ukraine and the first of the...
Funds

US crude oil bears risk reversal from crowded trade

LONDON, Nov 20 (Reuters) - Investors have rarely been more bearish about oil prices as a slowing economy and an increase in non-OPEC output lead them to conclude OPEC⁺ production cuts will not prevent a rise in inventories.Hedge funds and other money managers sold the equivalent of 7 million barrels in the six most important petroleum-related futures and options contracts over the seven days ending on Nov. 14.Fund managers had sold petroleum in seven of the last eight weeks cutting their position by a total of 338 million barrels since...
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