crude oil

European Session – Euro tests 1.14 as dollar stuck at one-month lows; Oil extends gains

Posted on June 8, 2016 at 2:48 pm GMT

The euro climbed to a 4-week high of 1.1410 dollars in European trading on Wednesday as the dollar continued to be weighed by receding expectations of a near-term Fed rate hike. The dollar index, which measures the US dollar against a basket of currencies, fell to a one-month low of 93.43. Apart from dollar weakness, there was little else driving the single currency today with the only major European data coming out of the UK. UK manufacturing and industrial production [..]

European Session – Commodities rally as Fed rate hike hopes fade; Dollar steady ahead of Yellen

Posted on June 6, 2016 at 2:45 pm GMT

Commodities rallied in European trading on Monday as a weaker dollar boosted commodity prices across the board just as market expectations of a Fed rate hike in June fell drastically. The dollar’s slide on Friday following a much weaker-than-expected jobs data has increased sentiment for commodities such as copper, zinc, nickel and iron ore, as well as for oil. The Thomson Reuters/Jefferies CRB commodities index was up 1.5% at 192.25 in afternoon European trading, boosted in part by stronger crude [..]

Asian Session – Dollar surges past 111 yen after Yellen says rate hike coming soon

Posted on May 30, 2016 at 8:13 am GMT

The US dollar surged against the yen in Asian trading on Monday as Fed Chair Janet Yellen reinforced expectations that the Fed could be on track to raise rates by the summer. Speaking at Harvard University on Friday, Yellen said that a rate rise would be appropriate “in the coming months”. Her message was repeated by St. Louis Fed President James Bullard on Monday. Bullard said that markets globally were “well prepared” for a June or July rate hike adding [..]

Asian Session – Dollar pulls back from highs as yen firms; kiwi jumps on RBNZ house price concerns

Posted on May 11, 2016 at 8:11 am GMT

The US dollar eased from its highs following a two-day rally as profit taking dragged the currency lower in Wednesday’s Asian session. The greenback came off from its peak against the yen at the start of Asian trading as it retreated from 109.36 yen to around 108.67 yen in late session. The yen found some support on Wednesday as the threat of immediate intervention receded. Many investors doubt whether the Japanese government would risk intervening in the currency markets before [..]

European Session – Dollar boosted by strong US data but euro and pound sag

Posted on May 4, 2016 at 3:07 pm GMT

Markets continued to be short on risk appetite on Wednesday as commodity currencies remained under pressure even as the dollar retreated from earlier gains. Major European indices were in the red again as traders turned gloomy on the outlook for global growth. The negative sentiment was heightened further by disappointing European PMI numbers out earlier today. The final reading of the Eurozone services PMI was revised lower from 53.2 to 53.1 in April, while the composite PMI was left unchanged [..]

European Session – Sterling falls after poor PMI; dollars firms on Lockhart comments

Posted on May 3, 2016 at 2:41 pm GMT

The US dollar pared back its losses in Tuesday’s European trading after the Fed’s Lockhart reignited expectations that the Fed could still be on course for two rate hikes this year. The greenback rebounded from fresh 18-month lows of 105.54 against the Japanese yen earlier today to test the 106 level in the European session. Speaking in Florida, Atlanta Fed President Dennis Lockhart told reporters that two rate hikes are “certainly possible” in 2016 and that the FOMC kept the [..]

European Session – Gold, oil hit fresh 2016 highs as dollar continues to slide

Posted on April 29, 2016 at 3:20 pm GMT

Commodities were bolstered on Friday from the weakening US dollar as soft consumer spending and inflation data reinforced expectations that the Federal Reserve will not be required to raise interest rates anytime soon. The dollar index, which measures the value of the US currency against a basket of currencies, hit an 8-month low and was down 0.7% at 93.09 in late European session. This helped crude oil to climb to fresh yearly highs, with US crude hitting $46.78 a barrel [..]

FX Daily Outlook|29-04-16

Posted on April 29, 2016 at 9:57 am GMT

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Asian Session – Yen extends post-BoJ gains; Dollar slides to 8-month low

Posted on April 29, 2016 at 7:47 am GMT

The US dollar fell to an 8-month low on Friday as measured against a basket of currencies as a dovish Fed and Bank of Japan inaction weighed on the greenback. The yen meanwhile extended yesterday’s impressive rally when it achieved its largest daily gain against the dollar in seven years. The US currency slumped to a fresh 18-month low of 106.89 yen against the yen in today’s Asian session and the dollar index hit its lowest since August 2015. With [..]

European Session – Dollar unmoved by weak GDP; Oil hits fresh 2016 high

Posted on April 28, 2016 at 2:13 pm GMT

The yen extended its gains at the start of European trading and was able to hold on to its gains in late session as traders digested the Bank of Japan’s surprise decision not to expand monetary stimulus contrary to market expectations. The dollar meanwhile was stuck near the day’s lows as weak GDP numbers confirmed that the US economy went through a soft patch in the first quarter. The greenback hit a low of 107.91 yen earlier in the European [..]

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