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Asian Session – Oil prices, dollar remain weak as focus turns to OPEC meeting

Posted on November 28, 2016 at 7:49 am GMT

Oil prices are in the spotlight this week ahead of the Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna which takes place on November 30. Growing concerns that producers will not be able to reach an agreement on production cuts this week has led to some risk aversion in the markets today. Fading hopes of an agreement by OPEC to trim oil output levels has led to flows into safe havens today, helping support the yen which was [..]

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Asian Session – Dollar consolidates around 111 yen; oil lower on fading hopes of OPEC production cut deal

Posted on November 23, 2016 at 7:52 am GMT

The Asian session was relatively quiet due to a public holiday in Japan and due to the US Thanksgiving holiday tomorrow, which resulted in thin liquidity. The US dollar was unable to extend Tuesday’s gains versus the yen. Oil fell on reports that Iran and Iraq have yet to cooperate on output cuts. The dollar index which gauges the US currency against a basket of six major currencies, slid off a 13 1/2-year peak of 101.48 reached last Friday and [..]

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Asian Session – Oil gains on hopes of OPEC agreement to cut output

Posted on November 22, 2016 at 2:34 pm GMT

Oil is increasingly in focus ahead of next week’s OPEC meeting in Vienna. Optimism is growing that a deal will be finalized on November 30 to trim output levels and this is helping lift oil prices. Both international benchmarks, Brent and West Texas Intermediate, gained 1% in the Asian session today. WTI rose to $48.95 a barrel while Brent climbed to $49.61 a barrel. The yen quickly gave back gains made on news of an earthquake in Japan. But there [..]

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Asian Session – Dollar adds to gains versus yen, oil jumps on hopes of OPEC deal

Posted on November 21, 2016 at 7:36 am GMT

The US dollar added to last week’s gains and rose above the 111 yen level in Monday’s Asian session as investors expect the Federal Reserve to hike rates in December. Oil was in focus today as prices jumped on hopes of a production cut deal at an OPEC meeting next week in Vienna. The dollar’s strength continues to dominate the currency markets and the chances of the Fed increasing rates next month have surged since Donald Trump won the US [..]

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Asian Session – US dollar makes up payroll losses; sterling drops once more

Posted on October 11, 2016 at 7:50 am GMT

  The dollar made up all the losses in view of Friday’s softer-than-expected employment report, as optimism returned about the health of the US economy and the increasing probability of a December rate hike.  Sterling on the other hand was losing the ground it regained following the flash crash on concerns about the impact of Brexit. In economic data, Japan’s current account surplus climbed to 2 trillion yen in August, higher than economists’ expectations of a 1.5 trillion figure.  The higher figure [..]

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Technical Analysis – US oil futures drop back from 50; still positive but will they break out?

Posted on October 10, 2016 at 7:53 am GMT

Oil has rallied hard since the end of September, leading price to top 50 for the first time in more than three months.  However, it did not have enough strength to break the 51.65 early June high.  Therefore oil stayed in the 40-51 dollar range that has been in place since around mid-April this year. According to the Ichimoku analysis, oil’s prospects are positive and it should test the 51.65 high soon.  Price is well above the cloud and the [..]

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Asian session – Mexican peso surges on Clinton win after first debate; yen and gold weaken

Posted on September 27, 2016 at 5:30 am GMT

Risk appetite was back in the currency markets on Tuesday after the first US presidential debate suggested that Democratic candidate Hillary Clinton won the debate late on Monday against Republican candidate Donald Trump. A poll by CNN/ORC indicated that 62% of respondents said that Clinton won the debate. There was a relief rally in risk assets and the S&P rose, while safe havens like the yen and gold saw losses. The Mexican peso benefitted the most from the results because [..]

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