crude oil

European Session – Pound struggles to hold at $1.29; Gold scales new yearly highs

Posted on July 6, 2016 at 3:10 pm GMT

Risk sentiment made only a modest recovery in European trading on Wednesday as markets remain spooked by the Brexit aftershocks. The pound managed to rebound strongly against the dollar to reclaim the 1.30 level but was struggling to hold above 1.29 dollars by late European session. Earlier today, the pound fell to a fresh 21-year low as concerns over the impact of Brexit on the UK economy were heightened. The euro also came under pressure but its decline was more [..]

European Session – Pound slides to fresh 31-year lows after Carney says fall is “beneficial”

Posted on July 5, 2016 at 3:17 pm GMT

After stabilizing over the past week, the pound saw renewed volatility today as it tumbled to fresh 31-year lows against the US dollar. Sterling had come under pressure earlier in the day when British bank, Standard Chartered, triggered fears of investors fleeing UK assets after it said that it had suspended trading in its UK real estate fund due to large withdrawals. Fresh measures by the Bank of England to ease liquidity concerns in the British economy failed to support [..]

FX Daily Outlook| 04-07-16

Posted on July 4, 2016 at 10:12 am GMT

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Asian Session – Australian dollar rebounds from post-election jitters; Gold extends gains

Posted on July 4, 2016 at 8:24 am GMT

The Australian dollar opened sharply lower on Monday after the results so far from Saturday’s federal election in Australia have pointed to no clear winner. With more than two-thirds of the votes counted, the prospect of a hung parliament has raised concern among investors that Australia might lose its triple A credit rating. Prolonged political uncertainty could make it less likely for Australia’s government to better manage its budget deficit. The aussie fell as a result, dropping to 0.7444 against [..]

European Session – Pound holds above $1.34 as Johnson quits Tory race but euro comes under pressure

Posted on June 30, 2016 at 2:27 pm GMT

The euro and the pound fluctuated against the dollar in European trading on Thursday, though they remained within their recent trading range. End-of-quarter positioning by traders contributed to the volatility. The pound had a weak start to the day, dropping to a low of 1.3362 dollars towards the end of Asian trading, but recovered to 1.3495 dollars by mid-European session. Improving risk sentiment helped sterling but a surprise announcement from former London Mayor Boris Johnson that he will not run [..]

Asian Session – Pound steady but dollar drifts lower on fading rate hike expectations

Posted on June 30, 2016 at 8:28 am GMT

Currency markets maintained their calm on Thursday as investors turned increasingly hopeful that central banks would maintain or expand accommodative monetary policy following the Brexit vote. The dollar drifted lower against a basket of currencies for a third day as expectations of a Fed rate hike this year declined dramatically in the wake of the surprise UK vote to leave the EU. The greenback was slightly down against the yen at 102.54 in late Asian trading today, while the euro [..]

FX Daily Outlook| 29-06-16

Posted on June 29, 2016 at 10:53 am GMT

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Asian Session – Global stocks recover but yen on the rise again as markets still nervous

Posted on June 29, 2016 at 8:37 am GMT

Global stocks attempted a strong rebound yesterday as the immediate shock of the UK vote to leave the EU appeared to dissipate. However, risk sentiment was still very weak as the pound made only a modest recovery and the yen was back on the rise again today. The S&P 500 in the US closed 1.8% higher on Tuesday, while in Europe, London’s FTSE 100 closed up 2.6%. Asian stocks on Wednesday were mostly positive too but currency markets remained uneasy. [..]

European Session – Sterling hits fresh 31-year low vs dollar as Brexit uncertainty rattles financial markets

Posted on June 27, 2016 at 3:09 pm GMT

Sterling hit the lowest since September 1985 against the dollar on Monday as investor fears over the impact of the Brexit vote on the UK and global economy dominated the market theme. The pound had stabilized around 1.34 dollars after opening almost 2% lower, but it slid further in European trading to touch a new 31-year low of 1.3119 dollars. The euro rose to fresh 3-year highs to climb to 0.8364 pounds but it remained subdued against the dollar. The [..]

Asian Session – Dollar muted after cautious Yellen; Sterling holds onto gains ahead of polling day

Posted on June 22, 2016 at 8:01 am GMT

Sterling was steady on the final day of the referendum campaign on what is expected to be a tight vote tomorrow when Britons go to the polls to decide whether the UK should stay in or leave the European Union. The pound edged up to 1.4673 dollars in late Asian trading today but was slightly weaker against the euro as the single currency firmed to 0.7674 pounds. The dollar was muted on Wednesday following another cautious outlook on the US [..]

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