crude oil

European Session – Major currencies seek direction from FOMC, BoJ; Oil retreats from 2016 highs

Posted on April 27, 2016 at 2:42 pm GMT

Trading was cautious in Wednesday’s European session as investors await the outcome of three central bank meetings due in the next 12 hours. The US Federal Reserve will be the first to announce its decision at 18:00 GMT and the dollar was struggling to find direction ahead of this key event. The greenback firmed against the yen during the course of the day but lost ground against the euro. Expectations that the Bank of Japan will announce some new measures [..]

Antipodean currencies soar to 10-month highs as risk appetite returns

Posted on April 19, 2016 at 11:53 am GMT

The Australian and New Zealand dollars soared to 10-month highs on Tuesday as risk appetite made a strong return on steady oil prices. Crude oil prices rebounded sharply on Monday after starting the day 6-7% lower following the failure of major oil producers on Sunday to agree to a freeze in output. Commodity prices have been recovering from their January/February lows, led by a rally in oil prices that was mainly driven by expectations that major oil producers such as [..]

Oil prices stabilize but outlook bleak after producers fail to agree output freeze

Posted on April 18, 2016 at 10:19 am GMT

Crude oil prices were stable on Monday after opening sharply lower following unsuccessful talks in Doha on Sunday to cap output. Eighteen OPEC and non-OPEC nations met in the capital of Qatar yesterday to try to reach an agreement on a possible production freeze that would have lent support to oil prices, which have tumbled around 75% since mid-2014. Oil prices rallied 60% from their 2016 lows after major producers consisting of Saudi Arabia, Russia, Venezuela and Qatar announced a [..]

Asian Session – Strong yen continues to raise eyebrows in Japan as dollar still in retreat

Posted on April 11, 2016 at 8:00 am GMT

It was a mixed start to the week in Monday’s Asian trading as the strong yen continued to weigh on Tokyo stocks but higher oil prices boosted equities elsewhere. Shares in China’s main indices were up over 1.5%, buoyed by weaker-than-expected inflation figures, which raised expectations of looser monetary policy. Annual CPI in China rose by 2.3% in March, less than the expected rate of 2.5% and the first time in five months that inflation has not accelerated. Producer prices [..]

Asian Session –Dollar/yen under pressure after Japan PM comments

Posted on April 6, 2016 at 8:04 am GMT

The yen rose sharply on Tuesday as risk aversion set in and comments from the Japanese prime minister added further support to the currency. Speaking to the Wall Street Journal, Prime Minister Shinzo Abe said he was against “arbitrary intervention” of devaluing currencies “whatever the circumstances”. The dollar touched a near 18-month low of 109.94 yen after the comments yesterday but had recovered slightly to 110.35 yen in Wednesday’s Asian session. The euro and the pound were also under pressure [..]

Quarterly Market Review – Q1 2016

Posted on April 5, 2016 at 2:33 pm GMT

The first three months of 2016 saw the unwelcome return of the turbulence that had marred financial markets in the summer of 2015. Equity indices across the globe saw sharp losses accompanied by high volatility. Major currencies were also exposed to unusual fluctuations as safe-haven currencies were back in demand. It was also a busy quarter for central bank activity, particularly from the European Central Bank and the Bank of Japan. But it was the changing tone of the Fed [..]

Asian Session – Aussie jumps after RBA keeps rates steady; Dollar/yen at fresh 17-month low

Posted on April 5, 2016 at 8:09 am GMT

The Reserve Bank of Australia kept its cash rate unchanged at 2.0% for the 10th straight policy meeting today as was widely expected. However, the Australian dollar jumped immediately after the announcement as the accompanying statement did not signal another cut anytime soon despite keeping the door open for such a move. RBA Governor Glenn Stevens said in his statement that “there were reasonable prospects for continued growth in the economy” but “an appreciating exchange rate could complicate the adjustment [..]

FX Daily Outlook| 01-04-16

Posted on April 1, 2016 at 9:30 am GMT

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Asian Session – Dollar flat ahead of NFP; China PMI turns positive

Posted on April 1, 2016 at 7:28 am GMT

Business sentiment surveys dominated Asian trading on the first day of April as key manufacturing indicators out of Japan and China were released. In China, the official manufacturing PMI turned positive for the first time in nine months as the index rose from 49.0 in February to 50.2 in March, beating forecasts of 49.3. The surprise reading, which indicates that manufacturing activity expanded slightly last month, may be a sign that the sector is turning the corner. However, analysts cautioned [..]

European Session – Dollar stabilizes near 2-week lows; European stocks up sharply on Yellen

Posted on March 30, 2016 at 2:42 pm GMT

European equities rose sharply on Wednesday with the major indices up over 1.5% as risk appetite made a strong comeback after Fed Chair Janet Yellen signalled again yesterday that the Fed was in no rush to raise rates. Yellen’s cautious stance contrasted with those of other Fed officials who last week had increased the possibility of a rate rise as early as April. Another Fed official speaking today tried to strike a more balanced tone. Chicago Fed President Charles Evans said [..]

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