brent

US Open Preview – Trade tensions in focus as Juncker meets Trump

Posted on July 25, 2018 at 11:11 am GMT

Here are the latest developments in global markets: FOREX: The greenback and the single European currency barely moved on Wednesday before a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker. The talks come after the US imposed tariffs on EU steel and aluminum and Trump’s recent threats to extend those measures to EU-made cars. Dollar/yen continued the bearish movement and slipped by 0.05% near 111.14, while euro/dollar jumped slightly above 1.1700 (+0.08%). The US dollar index dropped by 0.13% [..]

US Open Preview – Dollar eases ahead of US Markit PMIs

Posted on July 24, 2018 at 11:11 am GMT

Here are the latest developments in global markets: FOREX: The US dollar is showing modest losses versus most currencies. The greenback continued to weaken against the Japanese yen on Tuesday, as dollar/yen fell by 0.15%, approaching the 111.00 psychological level. The US dollar index fell marginally by 0.04%, giving back the gains that it had posted earlier in the day. Preliminary PMI survey data indicated that the eurozone economy lost momentum in July. The IHS Markit composite PMI fell to 54.3 from [..]

US Open Preview – Pound finds some buyers amid “smooth Brexit” speculation

Posted on July 9, 2018 at 11:36 am GMT

Here are the latest developments in global markets: FOREX: Sterling opened with a positive gap today, following news that the UK Brexit Secretary, David Davis, has resigned. UK Prime Minister Theresa May appeared to have agreed with her cabinet on the Brexit plan on Friday. On Monday, pound/dollar advanced by 0.42%, rising to a 3-week high of 1.3362, with Dominic Raab being appointed new Brexit Minister. The US dollar underperformed on Friday and Monday against a basket of six major currencies, as the US jobs report was [..]

US Open Preview – Equities retreat amid risk-off tones; aussie softens ahead of RBA decision

Posted on July 2, 2018 at 11:26 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen traded at 110.75 (+0.08%) on Monday, giving back most of the gains it posted earlier in the session when it briefly touched a one-month high of 111.05, with the yen failing to capitalize substantially on the broader risk-off mood seen in other asset classes, like equities. Meanwhile, the dollar index was up by 0.15% at 94.77. Euro/dollar was down by 0.35%, hovering just above 1.1640 as concerns of a political crisis [..]

European Open Preview – Euro pares gains as German political turbulence persists; dollar eyes ISM manufacturing PMI

Posted on July 2, 2018 at 8:21 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was higher by 0.2% on Monday. The euro was a touch softer as German political uncertainties remained a key theme. The loonie was also on the defensive amid a drop in oil prices, giving back some of the gains it posted on Friday following strong data releases. STOCKS: US markets closed higher on [..]

US Open Preview – Stocks post relief rally after EU deal; US inflation data still to come

Posted on June 29, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: The euro surged early on Friday following news that the 28 European Union leaders agreed on a migration deal overnight, driving euro/dollar towards an intraday high of 1.1666 (+0.68%). Also, in terms of economic data, the Eurozone preliminary CPI jumped to 2.0% in yearly terms as expected, from 1.9% previously. Euro/yen climbed by 0.68% to 128.66, posting a two-week high. Dollar/yen jumped to a two-week high as well of 110.78, adding 0.05% to its [..]

European Open Preview – Euro rebounds on EU migration deal; US core PCE price index awaited

Posted on June 29, 2018 at 8:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.5% on Friday, as the currency with the biggest weight in that index – the euro – is advancing after EU leaders reached a deal on immigration overnight, dispelling some political uncertainty. The safe-haven Japanese yen is on the retreat, as the positive tones from the EU summit and the lack of any concerning trade news boosted risk appetite. STOCKS: US markets closed in [..]

European Open Preview – Dollar races higher; EU Summit to prove crucial for Merkel’s government

Posted on June 28, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is roughly 0.1% higher on Thursday, extending its gains from the previous session and trading just below an eleven-month high. Meanwhile, both the euro and sterling are on the defensive. The kiwi came under renewed selling interest after the RBNZ kept the option of a rate cut on the table. STOCKS: US markets closed lower on Wednesday, giving back earlier gains. The drop came after White House [..]

Technical Analysis – Brent crude oil futures turns bullish in short term after aggressive sell-off

Posted on June 7, 2018 at 12:14 pm GMT

Brent futures have advanced considerably over the last couple of hours, surpassing the 50- and 200-simple moving averages (SMAs). The bullish picture in the short term looks to last for a while longer after the moving averages turned to the upside. Support was met at around the 73.80 region after prices hit a one-month low, forcing the commodity to reverse higher. The positive bias in the near term is supported by the improvement in the momentum indicators. The MACD oscillator has risen sharply above [..]

European Open Preview – Euro catches its breath after slide; Bank of Canada decides

Posted on May 30, 2018 at 8:03 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by roughly 0.1% on Wednesday, giving back some of the gains it posted yesterday, when it touched its highest point since early November. Meanwhile, although the euro posted considerable losses yesterday, it has rebounded somewhat today, trading higher by 0.3% versus the yen and 0.25% against the dollar. STOCKS: Wall Street was slammed yesterday, with all major US indices posting hefty declines as Italy’s political [..]

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