brent crude

European Open Preview – Dollar takes a hit on speculation for dovish Fed

Posted on January 28, 2019 at 9:04 am GMT

Reports the Fed may halt its balance sheet unwind hurt dollar, boost stocks Sterling marches higher ahead of decisive week for Brexit ECB President Draghi & BoE Governor Carney speak today Dollar slumps, equities advance on Fed reports & trade optimism It was a lively session for both currency and equity markets on Friday. The dollar slumped while stock indices climbed, amid renewed speculation that the Fed may turn even more dovish and the US-China talks could bear fruit soon. [..]

Technical Analysis – Brent crude oil futures advance, posting bullish correction in short term

Posted on January 4, 2019 at 11:46 am GMT

Brent crude oil futures with delivery in March 2019 have rebounded after falling to a fresh 16-month low of 50.00 on December 26. The momentum indicators are suggesting that the market sentiment might get even better as the MACD is strengthening its movement above the trigger and zero lines, while the RSI indicator is flattening near the 70 level. Should the price move higher, it would increase the chances for an extension of the bullish correction but would first face immediate resistance at [..]

Technical Analysis – Brent futures finds support at 1-year low; strongly bearish in near term

Posted on November 21, 2018 at 3:13 pm GMT

Brent crude oil futures with delivery in January 2019 plummeted to an almost one-year low around 61.70 on Tuesday. The price is set to complete the seventh straight negative week, however, looking at the very-short term timeframe, it has jumped above the multi-month low today. The MACD oscillator is flattening below its trigger line, while the RSI is moving sideways in the bearish zone. If the price continues the weak upside movement, it would challenge again the 64.60 resistance, before being able to re-touch the 20- and [..]

Crude oil under renewed downside pressure as oversupply worries resurface

Posted on July 26, 2016 at 2:25 pm GMT

Crude oil prices have come under increased selling pressure in recent days as worries about the oversupply in the market have resurfaced. Despite a series of disruptions to supply in recent months which pushed prices to fresh yearly highs in June, concerns that demand has not picked up as fast as had been expected have led analysts to re-assess their outlook. US crude fell to its lowest since 2003 back in February this year, touching a low of $26.05 a [..]

Asian Session – Brent crude tops $50 for first time in 7 months; dollar slips below 110 yen

Posted on May 26, 2016 at 8:20 am GMT

Crude oil prices extended their rally into a third day on Thursday as Brent crude broke above $50 a barrel for the first time in nearly 7 months. US oil futures also rose to fresh 7-month highs, stopping just shy of $50. Oil prices were boosted yesterday after data from the US Energy Information Administration showed a bigger-than-expected drop in crude stocks for the week ending May 20. Other commodities also moved higher, helping energy and commodity stocks to make [..]

European Session – Dollar unmoved by weak GDP; Oil hits fresh 2016 high

Posted on April 28, 2016 at 2:13 pm GMT

The yen extended its gains at the start of European trading and was able to hold on to its gains in late session as traders digested the Bank of Japan’s surprise decision not to expand monetary stimulus contrary to market expectations. The dollar meanwhile was stuck near the day’s lows as weak GDP numbers confirmed that the US economy went through a soft patch in the first quarter. The greenback hit a low of 107.91 yen earlier in the European [..]

Oil in retreat after Saudi Arabia rules out cut; doubts remain over freeze

Posted on February 24, 2016 at 2:07 pm GMT

Crude oil prices erased their gains made after the deal to freeze output was struck as Saudi Arabia’s oil minister yesterday ruled out cutting production anytime soon. Saudi Oil Minister Ali Al-Naimi, who was speaking at a conference in Houston, Texas, said on Tuesday that a production cut is “not going to happen” because he was sceptical about other countries enforcing it even if such a decision was taken. On February 16, OPEC members Saudi Arabia, Venezuela and Qatar reached [..]

FX Daily Outlook| 21-12-15

Posted on December 21, 2015 at 10:50 am GMT

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Asian Session – Oil rout continues as Brent Crude falls to 11-year low

Posted on December 21, 2015 at 8:21 am GMT

Oil prices continued their descent on Monday as production remains near record levels and signs that US shale producers are withstanding the current slump in prices. The number of active oil rigs in the US rose last week adding to the supply glut that has been made worse by expectations that Iran will return to the market next year. Brent crude futures hit an 11-year low today of $36.17 per barrel, while WTI oil futures were trading near 6-year lows [..]

European Session – Fed’s Fischer comments sends dollar lower; Brent crude bounces back above $49

Posted on August 10, 2015 at 2:34 pm GMT

With very little to detract investors on the data front, comments from Fed officials Stanley Fischer and Dennis Lockhart were the main currency movers on Monday. The dollar has been fluctuating since mid-European session as it rose ahead of Fischer’s interview but fell on remarks that inflation should move closer to normal levels before interest rates start to rise. It later headed higher and dropped back again as Atlanta Fed President Dennis Lockhart started his speech. Fed governor Stanley Fischer, [..]

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