crude oil

Loonie in focus after Liberals election win and upcoming Bank of Canada meeting

Posted on October 20, 2015 at 10:23 am GMT

The centre-left Liberal party, led by Justin Trudeau, won the general election in Canada on Monday, ending the Conservative’s nine-year run in power. Although the Liberals had been leading in the polls, they were not expected to win a majority. With the counting now over, the Liberals have won 184 seats, compared to the Conservative’s 99 seats. The New Democratic party has shrunk to just 44 seats, dropping to third place. The size of the win means the Liberals have [..]

Asian Session – Aussie and yen shrug off weak data to gain against dollar

Posted on October 15, 2015 at 7:20 am GMT

Weak retail sales data continued to weigh on the dollar on Thursday as investors remain doubtful whether the Fed would raise interest rates by the end of the year. However, Richmond Fed President Jeffrey Lacker appeared unconvinced by the recent disappointing data. Lacker said on Wednesday that the weak data does little to change his outlook for the US economy. The dollar fell to 118.71 yen in late Asian trading, having risen to 119.16 yen earlier in the session. The [..]

Asian Session – Yen eases on equities rebound and weak data; Markets eye Yellen speech

Posted on September 30, 2015 at 1:51 pm GMT

Asian equities bounced back on Wednesday after a positive close on Wall Street on Tuesday. Positive consumer confidence figures from the US and the Eurozone eased fears of a global slowdown. The rebound in equity prices helped the dollar firm in today’s Asian trading, while the yen eased on improved risk sentiment. Weaker-than-expected industrial production figures also weighed on the yen. Preliminary figures for August industrial production in Japan showed output dropping by 0.5% month-on-month against estimates of a 1% [..]

Asian Session – Dollar down as global equities fall sharply on growth fears

Posted on September 30, 2015 at 1:49 pm GMT

Global equities extended their rout on Monday with major European indices falling by over 2%, while the S&P500 in the US closed down by 2.6%. Asian stocks fell sharply today in response with Tokyo’s Nikkei 225 index closing 4% lower and China’s Shanghai SE Composite index down 2.5% in late Asian trading. The latest selloff was triggered by data from China showing the biggest fall in industrial companies’ profits in four year, heightening fears of a deep slowdown. Meanwhile, the [..]

Asian Session – Fed says conditions for rate hike ‘approaching’ but worried about low inflation, dollar falls

Posted on August 20, 2015 at 7:45 am GMT

The dollar fell against major currencies on Wednesday after the Fed published the minutes of the FOMC meeting in July. The Fed sounded concerned on the persistently low inflation levels and was only ‘reasonably confident’ that inflation would return to the 2% target in the medium term. Some within the FOMC were more doubtful though on the inflation outlook, citing downside risks such as further falls in oil and commodity prices, further appreciation of the dollar and the lack of [..]

European Session – Euro falls close to SNB exchange rate floor versus Swiss Franc

Posted on December 12, 2014 at 11:07 am GMT

The euro came dangerously close to the Swiss National Bank’s exchange rate floor of 1.2000 Francs today, touching as low as 1.2007 in early European session trading. This was the lowest level in 27-months. Safe haven flows are helping buoy the swissie while the SNB’s avoidance of moving to negative interest rates after a policy meeting on Thursday also helped support the Swiss currency. The central bank kept rates at 0.00–0.25%. The euro however bounced against the US dollar in [..]

Technical Analysis – Crude Oil bullish momentum

Posted on February 21, 2014 at 10:04 am GMT

Crude oil is hovering at a 4-month high around the 103 level. Prices rallied from a January 9 low of 91.23 to a high of 103.27 on Thursday. Prices are now consolidating near this high. The market is being capped by the 61.8% Fibonacci retracement of the down- leg from the September high (110.68) to the January low (91.23). Daily momentum looks strong, as indicated by the bullish RSI which has now crossed above the 70 level. CCI is also [..]

US Session – Oil hits 5-week high after strong US data

Posted on March 26, 2013 at 8:32 pm GMT

Crude oil was the best performer during the US session on Tuesday, rising to above $96 a barrel, the highest in five weeks, boosted by optimism over energy demand fed by a jump in US durable goods orders. May crude is up over $1.60 on the day, and peaked at $96.43, the highest since February 20. US stock rallied to push the Dow to a record close. Data showed demand for long-lasting manufactured goods surged in February, while another report [..]

Commodities News – Oil declines from 4-mth high on falling demand

Posted on January 21, 2013 at 12:46 pm GMT

Oil prices are trading lower in Monday, down from a four-month high last Thursday. The CFD for crude is down to $95.50 in the Europe session today, trading sideways since its decline from Thursday’s high of $96.48. Meanwhile the crude oil contract for February delivery, which expires tomorrow, fell as much as 51 cents to $95.05 a barrel in electronic trading on the NYMEX and was at $95.07 at 9 a.m. London time. The March contract was down 46 cents [..]

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