crude oil

What’s next for oil prices? – Commodity News

Posted on May 11, 2018 at 1:28 pm GMT

Following the US decision to unilaterally withdraw from the Iran nuclear deal, a cloud of uncertainty is hanging over oil markets, with traders scrambling to figure out to what extent this will impact oil prices. In this respect, price action in oil may depend mainly on whether Iran and the US begin new negotiations, whether other major producers raise their own supply to “fill the gap” left by Iran, and on how the geopolitical situation plays out in the Middle [..]

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 [..]

Oil markets brace for Trump’s decision on Iran – Commodity News

Posted on May 8, 2018 at 10:11 am GMT

US President Trump will announce today at 1800 GMT whether the US will withdraw from the Iran nuclear deal. Oil prices have been surging in recent weeks, on speculation that Iran may soon be faced with fresh sanctions on its exports, which would likely lead to lower oil supply. While an official withdrawal by the US today could push prices even higher, its crucial to note that most of this story may be priced in already, which also leaves prices [..]

US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

European Open Preview – Dollar eases off highs ahead of nonfarm payrolls

Posted on May 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Friday, but by less than 0.1%, recouping some of the losses it posted yesterday. Today, all eyes will be on the US employment data for April, and particularly on the wages component of that report. Sterling/dollar is down by 0.1%, with the British pound remaining under pressure as markets continue to price out expectations for a BoE rate hike next week. STOCKS: Wall Street closed [..]

European Open Preview – Sterling rallies ahead of crucial economic data

Posted on April 17, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was 0.1% lower on Tuesday, extending the losses it posted yesterday amid renewed speculation that the US administration is seeking a weaker currency. Sterling/dollar traded 0.15% higher today after surging yesterday as well, reaching a fresh high last seen in June 2016, amid speculation that upcoming UK economic data will “green light” a rate hike by the Bank of England in May. STOCKS: US markets closed higher yesterday, buoyed [..]

Oil edged higher despite trade risks, but is a correction in the works? – Commodity News

Posted on April 4, 2018 at 1:55 pm GMT

Oil prices rose in the latter half of March, aided by speculation the US is set to impose fresh sanctions on Iran, and expectations that OPEC could extend its production cuts into 2019. Strikingly, prices managed to climb even despite a deterioration in risk sentiment, which typically weighs on the precious liquid. However, with most of the “good news” priced in already, oil seems vulnerable to a near-term correction, amid an escalation in trade concerns and stretched-long speculative positioning. A [..]

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 [..]

European Open Preview – Equities soften as China retaliates; US ISM manufacturing PMI pending

Posted on April 2, 2018 at 8:01 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% lower on Monday to start the new quarter, amid continued concerns over a US-China trade dispute escalating following the latest tariffs by China, due to take effect today. The British pound was on the front foot, gaining against both the dollar and the euro, extending the significant gains it posted in the first quarter amid a reduction in Brexit uncertainties. STOCK: US markets remained closed on Friday, [..]

US Open Preview – European stocks join the rout; RBA policy decision next

Posted on February 5, 2018 at 12:33 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index was little changed on Monday, last trading near the 89.10 level. Sterling/dollar was down more than 0.2%, pressured by the softer-than-anticipated UK services PMI for January. Dollar/yen fell nearly 0.3%, as the broader risk-off sentiment in equity markets strengthened the yen, which is typically regarded as a safe haven. Elsewhere, the aussie was 0.2% higher against the greenback ahead of the RBA’s policy decision, due at 0330 GMT on [..]

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