oil

Asian Session – Oil pares back losses as dollar retreats

Posted on February 17, 2016 at 8:59 am GMT

Risk appetite waned on Tuesday after top oil producers disappointed markets by agreeing to a freeze in output instead of a cut. Oil prices tumbled after the decision but stabilized on Wednesday as markets became hopeful of further measures later in the year to support prices. WTI crude futures were down 0.7% in late Asian session at $28.83 a barrel. The yen was back in favour on Wednesday as investors turned to safe haven assets. The dollar slipped back below [..]

European Session – Sterling tumbles on Brexit fears, oil below $29 as Doha deal underwhelms

Posted on February 16, 2016 at 3:48 pm GMT

Oil-related news headlines today set the tone in the markets, giving a bit of a risk off mood. Oil prices fell below the key $30 a barrel again on the announcement of a production freeze by Saudi Arabia, Russia, Venezuela and Qatar after reaching a preliminary deal at a meeting in Doha today. The freeze would be applied to January output levels, which are already near record highs. Investors were disappointed with the agreement as they expected more (such as [..]

Mid-European Session – Oil tumbles below $30, pound falls on UK inflation data

Posted on February 16, 2016 at 11:03 am GMT

There were some notable movements in the currency and oil markets this morning as economic data and news releases impacted prices. Oil prices fell back down, dropping below $30 a barrel on news that major oil producing countries reached a deal to freeze output. A meeting of oil ministers from Saudi Arabia, Russia, Venezuela and Qatar early today in Doha concluded with a conditional agreement to freeze production at January levels. Investors were disappointed as they expected more out of [..]

FX Daily Outlook| 16-02-16

Posted on February 16, 2016 at 9:43 am GMT

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Asian Session – Dollar steady as oil and stocks recover

Posted on February 16, 2016 at 8:28 am GMT

The US dollar held on to yesterday’s gains on Tuesday as risk sentiment continued to improve. Asian equities extended their gains following another strong rally in Europe on Monday. China’s main indices were up over 3% on hopes that Chinese authorities will announce fresh stimulus measures. The yen weakened further as the Bank of Japan’s negative interest rates came into effect on Tuesday. The dollar touched a high of 114.86 yen before easing to 114.37 in late Asian session. Market [..]

European Session – Yen surges on risk aversion, gold at one-year high

Posted on February 11, 2016 at 3:24 pm GMT

Risk aversion spiraled again today, pushing investors to seek safe havens such as the yen and gold, while the US dollar and global equities tumbled. Today’s sell off from risky assets extends from Wednesday following Fed Chair Janet Yellen’s testimony to the US Congress and her acknowledgement of intensifying risks in the US and global economy, while also suggesting the Fed was in no rush to hike rates. Gold prices soared to a one-year high above $1240 on safe-haven demand, [..]

Asian Session – Dollar bounces from near 4-month lows but equities still under pressure

Posted on February 10, 2016 at 8:29 am GMT

Asian stock markets were in negative territory again on Wednesday as fears about global growth and the health of banks continue to weigh on equities. Tokyo’s Nikkei 225 index shed another 2.3%, while Sydney closed 1.2% lower. Chinese markets remain closed for the week for the Lunar New Year celebrations. The dollar index, which measures the US dollar against a basket of currencies, hit a near 4-month low of 95.66 on Tuesday but had firmed to 96.09 in late Asian [..]

Asian Session – Yen gains as global stock sell-off continues but oil rebounds

Posted on February 9, 2016 at 10:01 am GMT

Global stock markets saw sharp losses on Monday and Tuesday as fears about global growth hit investor confidence. US equities reversed earlier heavy losses with the S&P 500 closing 1.4% lower yesterday, having been down by almost 3% at one point. Banking stocks were particularly hit as growth concerns and a prolonged period of low interest rates weighed on the sector. Japanese shares were the worst hit with the Nikkei 225 index slumping by 5.4% at the close on a [..]

European Session – Widening yield spreads hits euro; dollar drops to 1-year low below 116 yen

Posted on February 8, 2016 at 3:17 pm GMT

European equities slumped on Monday as market sentiment turned risk-off despite a calm start to the week in Asia. London’s FTSE-100 index was down by around 2%, while the Frankfurt Dax was off by 2.7%. Concerns about the global economy were heightened today after figures out on Sunday showed the People’s Bank of China spent almost $100 billion of reserves to prop-up the yuan against the dollar in January. This indicates that the yuan is facing continued pressure amid a [..]