brent

Daily Market Comment – US protests rage on, start to weigh on dollar

Posted on June 2, 2020 at 8:28 am GMT

Trump inflames protests, threatens martial law as US stocks begin to take notice Dollar extends slide as recovery hopes keep positive sentiment intact Aussie flirts with $0.68 after RBA, pound shoots above $1.25 despite Brexit risks Oil steady ahead of OPEC+ meeting Market unease as protests ravage US cities Mass protests continue for a seventh day across major cities in the United States, causing widespread damage and looting in what is another blow for businesses already crippled by the shutdowns [..]

Daily Market Comment – Dollar edges down ahead of Fed; aussie’s bull run continues

Posted on April 29, 2020 at 8:35 am GMT

Dollar drifts lower in mostly risk-on mood ahead of Fed statement Virus success powers aussie to 7-week high, euro perks up too Oil steadies, stocks move higher in lacklustre trading Dollar pressured amid lockdown easing, eyes Fed meeting The mood of cautious optimism continues to prevail in the markets on Wednesday as several countries have begun or are preparing to ease their lockdown measures. Hopes that shuttered businesses will soon be able to reopen their doors has sparked a relief [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

Daily Market Comment – Oil carnage spreads to stocks

Posted on April 22, 2020 at 9:22 am GMT

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets can’t catch a break, with Brent following WTI lower this time to touch a low last seen during the Gulf war, as the devastation in [..]

Technical Analysis – Brent futures complete double bottom at 24.55; surpass SMAs

Posted on April 7, 2020 at 12:09 pm GMT

Brent has gained some of its positive momentum after the creation of a double bottom pattern at 24.55 on March 18 and on April 1. In the short-term the market could retain range-bound trading as the RSI is moving sideways above the 50 level and the MACD remains near the trigger line and above its zero line. Should the pair stretch north, the 35.38 level could provide immediate resistance before the price touches the area within the gap that posted [..]

Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]

Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 10:01 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

Oil wars during a pandemic: It could get messy – Special Report

Posted on March 13, 2020 at 1:34 pm GMT

After the production alliance between Saudi Arabia and Russia fell apart, pushing oil prices dramatically lower on concerns of a supply war at a time when the virus outbreak depresses demand, everyone is wondering what’s the floor for crude. We seem to be headed for a period where markets are flooded with supply as the major players compete for market share, which could keep prices at very low levels. Ultimately, the dust will settle and prices could recover, but that [..]

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