oil

Asian Session – Oil rebounds ahead of OPEC talks; dollar subdued as focus shifts to US Presidential debate

Posted on September 26, 2016 at 5:45 am GMT

It was a relatively subdued trading session on Monday as investors were cautious ahead of a debate between US presidential candidates Hillary Clinton and Donald Trump. The first of three televised debates will take place at 9pm Eastern Time later today in the US. The slight risk aversion in the currency markets resulted in the yen being the best performer among major currencies. The dollar traded a range of 100.70 – 101.06 yen in Asia. Meanwhile there was cautious trading [..]

Asian Session – Dollar weakens, gold rallies as Fed sees no rush to hike rates

Posted on September 22, 2016 at 5:27 am GMT

There was broad dollar weakness during Asian trading on Thursday which followed through from the late US session when the greenback softened after the Federal Reserve’s decision to delay a rate hike. The FOMC concluded a two-day meeting on Wednesday with a decision to hold the federal funds rate unchanged between 0.25%-0.50%. While the Fed was in no rush to hike rates in September it did however suggest that further rate hikes were to come soon and gave strong hints [..]

FX Daily Outlook| 19-09-16

Posted on September 19, 2016 at 8:44 am GMT

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Asian Session – Oil rises on output freeze hopes; aussie outperforms after China data

Posted on September 19, 2016 at 5:27 am GMT

It was a fairly quiet Asian session as Tokyo was on holiday today and the economic calendar was light. The yen saw some strength as it was supported by the demand for safe haven assets. Investors are being cautious ahead of key risk events this week, with the Federal Reserve and Bank of Japan holding policy meetings. The dollar/yen pair edged lower to 101.98 yen, trimming its gains made on Friday after US inflation data. CPI beat expectations to rise 0.2% [..]

Asian Session – Dollar broadly weaker as markets digest soft US data

Posted on September 16, 2016 at 5:20 am GMT

US data out on Thursday changed expectations for a Fed rate hike and dampened sentiment for the dollar. A batch of disappointing economic data out of the world’s largest economy would likely lower the odds of a rate hike by the US central bank at its policy meeting next week. Risk aversion in Asian markets today helped the yen firm up although volumes were low as many markets in Asia (such as China, Hong Kong and Malaysia) were shut for [..]

European Session – Yen bounces back while pound falls despite decent UK employment numbers

Posted on September 14, 2016 at 2:39 pm GMT

The yen bounced back, while the pound resumed its fall despite a positive employment report during Wednesday’s European session. Euro / dollar continued to be flat due to an absence of major data or risk events for the world’s two largest economies; the Eurozone and the United States. Dollar / yen dropped back below 103 to 102.70 as doubts emerged concerning the validity of a report published in Japan’s major business newspaper about the Bank of Japan pursuing negative rates [..]

European Session – Euro fluctuates due to ECB; oil surges as inventories fall

Posted on September 8, 2016 at 3:22 pm GMT

In the absence of any major economic data releases during the European session, the highlight of the day was the ECB meeting and press conference by ECB Chief Mario Draghi. The euro was trading firm ahead of the decision but when the ECB announced that it was maintaining its current monetary policy, the single currency jumped higher. The euro rose above the key 1.1300 level as Draghi spoke and reached a fresh September high. As the dust settled after the [..]

European Session – Dollar boosted by strong ADP jobs data; loonie falls after Canada GDP and oil inventories

Posted on August 31, 2016 at 3:03 pm GMT

The euro slipped to a new 3-week low of $1.1122 against the dollar after being weighed down by disappointing Eurozone inflation data. The August flash estimate remained stable at 0.2% year-on-year, which was below estimates for an increase to 0.3%. Unemployment for the region was also somewhat disappointing at 10.1% versus 10.0% expected but remained unchanged. These numbers will likely be taken into consideration by the ECB at their monetary policy meeting next week. The Canadian dollar was a notable [..]

European Session – Dollar extends gains on firmer rate hike expectations following Fed’s Stanley comments

Posted on August 30, 2016 at 2:48 pm GMT

The US dollar continued its post – Jackson Hole rally after receiving another boost from comments by Fed Vice Chair Stanley Fischer today who firmed rate hike expectations. Speaking on Bloomberg TV today, the US central bank official mostly reiterated his views from Friday when both he and Fed Chair Janet Yellen suggested that the case for a rate increase was strengthening. Markets are now waiting for the next big event on Friday, which is nonfarm payrolls data. The data [..]

European Session – Dollar makes limited gains as Yellen fails to give clear signals on rate hikes

Posted on August 26, 2016 at 3:30 pm GMT

The major currencies were without direction during most of the European session as investors took on a cautious tone ahead of Fed Chair Janet Yellen’s keynote speech at the Jackson Hole Symposium today in Wyoming, USA. The US dollar was consolidating with limited movement against major counterparts before Yellen’s speech and saw limited reaction to US data. A second estimate of US GDP released today showed US economic growth was a bit more sluggish than initially thought in the second [..]

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