brent

European Open Preview – Dollar index stalls after touching new 2018 highs; BoE testimonies in focus

Posted on May 22, 2018 at 8:08 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which measures the greenback’s performance against a basket of six major currencies, is trading practically unchanged on Tuesday. It briefly touched its highest levels for 2018 on Monday as trade frictions between the US and China were perceived to be diminishing, though it later gave back all its gains to end the day nearly flat. The euro remains on the back foot overall, as the political situation [..]

European Open Preview – Risk appetite boosted as US and China call ceasefire in trade war

Posted on May 21, 2018 at 8:17 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 0.3% higher on Monday, touching a fresh high for 2018. Meanwhile, the safe-haven Japanese yen continued to lose ground, weighed on by signs that trade tensions between the US and China are easing. STOCKS: Wall Street closed lower on Friday, for the most part. While the S&P 500 and the Nasdaq Composite [..]

European Open Preview – Trade talks back in the limelight; Canadian inflation data ahead

Posted on May 18, 2018 at 8:04 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower today, but by less than 0.1%, giving back some of the gains it posted yesterday. The yen is on the back foot too, declining more than 0.2% against the euro and 0.05% versus the dollar, following disappointing inflation data out of Japan overnight. STOCKS: US markets closed in the red on Thursday, weighed on by some remarks from US President Trump that he doubts the [..]

US Open Preview – Dollar ticks lower; Canadian jobs data in sight

Posted on May 11, 2018 at 11:02 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index edged lower on Friday (-0.17%), extending losses from Thursday on the back of disappointing US inflation data. Dollar/yen was down 0.09%, with little in the way of news or developments to guide price action. Euro/dollar inched up to 1.1943 (+0.24%), while pound/dollar touched 1.3570 (+0.39%), with the latter licking its wounds following a sharp decline on Thursday, after the Bank of England appeared cautious about near-term rate [..]

Technical Analysis – Brent crude oil futures erase some gains in the near-term after they touch 3-year high of 77.94

Posted on May 10, 2018 at 12:24 pm GMT

Brent crude oil has retreated over the last few hours after a sharp bullish rally in the past five days. On Thursday, the price posted a fresh more than three-year high of 77.94 and currently is paring some of its gains. However, the short-term technical indicators are bearish and point to more weakness in the market. Looking at the 4-hour chart, oil prices are still developing above the 20- and 40-simple moving averages (SMAs) and are still pointing up. Meanwhile, the RSI indicator bounced off the overbought level and [..]

Technical Analysis – Brent crude oil futures retreat after it hits 3-year high of 73.07

Posted on April 12, 2018 at 1:13 pm GMT

Brent crude oil futures surged on Wednesday, hitting a fresh more three-year high of 73.07. The oil completed the third green day in a row yesterday, however, it ended the day well below its peak. Today, the price is heading lower, suggesting a potential bearish correction of the sharp buying interest. In the 4-hour chart, the technical indicators are endorsing the downside retracement as both are moving lower. The RSI has dipped slightly lower and is developing near the overbought territory. The [..]

US Open Preview – European stocks tumble, dollar stalls as trade worries persist

Posted on April 3, 2018 at 11:17 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher against the Japanese yen by 0.24% after three days of declines. However, the dollar index – which measures the greenback’s performance against six major currencies – fell by 0.10% on Tuesday, and is currently hovering just below the 90.00 handle. Euro/dollar was trading higher by 0.11% during today’s European session, standing marginally above the 1.2300 psychological level. Sterling advanced by 0.17% versus the greenback, hovering around its [..]

Technical Analysis – Brent crude oil futures post 6-week high; bullish bias in short term

Posted on March 21, 2018 at 1:59 pm GMT

Brent crude oil futures reached a fresh six-week high of 68.28 during today’s European session and extended oil’s bullish run, which started from the 64.00 handle. Prices broke above the 67.90 key level and are trading well above their moving averages. The bullish picture in the short-term is further supported by the technical indicators. In the 4-hour chart, the indicators are pointing to a continuation of the bullish bias. The MACD oscillator is moving sharply higher above its trigger and zero lines, [..]

Technical Analysis – Brent crude oil futures post 3-year high; hold above short-term uptrend line

Posted on January 15, 2018 at 12:37 pm GMT

Brent crude oil futures rose to a new more than 3-year high on Thursday slightly above the strong psychological level of 70.00. During today’s European session, the price headed for a test of the aforementioned level and retreated over the next hours. The price continues to print higher peaks and higher troughs above the uptrend line taken from the low of December 14 and as such the short-term outlook remains positive. In the 4-hour chart, momentum indicators are also pointing to a continuation of [..]

Special Report – Commodities end 2017 on strong note; set for a comeback in 2018

Posted on January 4, 2018 at 10:38 am GMT

Commodity prices had a mixed start to 2017, with the S&P Goldman Sachs Commodity Index (S&P GSCI) falling by 15% at its low point in June, driven down mainly by the decline in oil prices. However, as the OPEC-led output restrictions started to bite, crude oil prices turned higher, with a strong performance in the fourth quarter. Industrial metals also had an impressive run in 2017, particularly copper and aluminium. Going into 2018, most investors are bullish about commodities, especially [..]

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