crude oil

European session – Pound hits 1-month low and dollar also falls back, but equities shine

Posted on August 9, 2016 at 3:14 pm GMT

Global equities were the main winners today from the risk-on mood that has prevailed since Friday’s solid US jobs report as currency markets suffered in lacklustre trading. The dollar fell back in today’s European session and the pound also came under pressure, while the yen firmed. European equities were heading for a fourth day of gains and US shares also opened in positive territory on Tuesday. The S&P 500 was once again flirting with record highs at 2185.6 in late [..]

Asian Session – Dollar flat in thin summer trade; Pound slips on BoE comments

Posted on August 9, 2016 at 8:14 am GMT

The dollar was flat in Asian trading on Tuesday as major currencies were struggling for direction in thin summer trade. The greenback was unable to advance beyond 102.65 against the yen yesterday and was stuck around 102.35 yen for much of today’s Asian session. The euro was also steady and hovered around 1.1080 dollars for a second day. There was little reaction to mixed German trade data out earlier. German exports rose by a less-than-expected 0.3% in June, but imports [..]

European Session – Risk rally drives up dollar and equities; Oil up on renewed production freeze calls

Posted on August 8, 2016 at 2:13 pm GMT

The dollar remained buoyant in European trading to steadily climb higher against the yen. It touched a session high of 102.65 yen as most traders upped their expectations that the Fed could raise rates by the year end if the US labor market continues to improve at the current pace. Dovish remarks by Fed Governor Jerome Powell failed to dampen the positive expectations. Speaking to the Financial Times today, Powell reiterated the need to be “patient” as he warned of [..]

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 [..]

European Session – Pound tumbles after PMI points to contraction in economic activity

Posted on July 22, 2016 at 2:44 pm GMT

The main news item in today’s European session was the release of the Markit PMI business surveys for a number of developed countries. The Eurozone PMI beat expectations on the composite level, as it fell to only 52.9 compared to 52.5 expected by economists. The previous month’s figure was 53.1. Therefore it appeared that Brexit had only a modest negative effect on Eurozone businesses. In Germany, services’ PMI was much stronger-than-expected, which showed solid domestic demand. Manufacturing did less well [..]

FX Daily Outlook| 21-07-16

Posted on July 21, 2016 at 10:10 am GMT

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Asian Session – Dollar breaks above 107 yen; Kiwi pressured by RBNZ outlook

Posted on July 21, 2016 at 8:18 am GMT

Improved risk sentiment helped the dollar higher against the yen, while stimulus talk continued to pressure the Japanese currency on Thursday. The dollar broke above 107 yen for the first time in six weeks as Japan’s government said today it is planning a fiscal stimulus package worth 20 trillion yen. The figure is double the initial sum of 10 trillion yen that was previously mentioned. Most analysts are now with the view that the Bank of Japan will accompany the [..]

European Session – Commodities sag as dollar extends gains; pound boosted by BoE survey

Posted on July 20, 2016 at 2:51 pm GMT

Commodity prices fell sharply in today’s European session as the US dollar continued its advance against most major currencies. Sentiment for the US currency appears to have turned bullish in recent days after a run of solid US data put the prospect of a Fed rate hike at some point in 2016 back on the table. The dollar rose to its highest since June 24 against the yen, reaching an intra-day high of 106.71 yen in late European session. This [..]

FX Daily Outlook| 20-07-16

Posted on July 20, 2016 at 10:06 am GMT

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Asian Session – Dollar rises to 4-month high on strong US data

Posted on July 20, 2016 at 8:23 am GMT

The US dollar climbed to a 4-month high against a basket of currencies in Asian trading on Wednesday, extending yesterday’s gains. The greenback has been bolstered in recent days by a series of solid US economic data, including stronger-than-expected housing figures yesterday. The dollar index rose above 97.0 for the first time since March yesterday and hit a high of 97.29 earlier in Asian trading today. The run of healthy indicators for the US economy has renewed expectations that the [..]

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