FX Daily Outlook| 18-01-16
Posted on January 18, 2016 at 9:18 am GMT[..]
XM does not provide services to residents of the United States of America.
Asian Session – Oil plunges to 2003 levels as Iran sanctions lifted
Posted on January 18, 2016 at 8:27 am GMTOil prices came under fresh pressure today as international sanctions on Iran were lifted, paving the way for Iranian oil exports. WTI and Brent crude futures slumped below $29 a barrel for the first time since 2003. US crude contracts were last trading at $28.80 a barrel, having earlier touched a low of $28.35. Stock markets in the Middle East and in Asia fell sharply in response to the latest plunge in oil prices. Safe haven currencies such as the [..]
Technical Analysis – Oil falls into $28 handle, bearish bias strong
Posted on January 18, 2016 at 8:02 am GMTThe breakdown below the key $30 level last week has triggered a new downleg for oil prices. After closing at $29.61 on Friday, US oil opened with a gap lower to spike down to $28.35 early on Monday. There is scope for a further decline as the technical are bearish. On the hourly chart, the tenkan-sen and kijun-sen lines are negatively aligned and RSI is falling in bearish territory. Looking at the bigger picture, on the weekly chart, prices have [..]
European Session – Canadian dollar hammered to fresh 12-year lows as oil falls below $30
Posted on January 15, 2016 at 3:43 pm GMTCurrency markets were unsettled today as negative sentiment resumed and investors were reluctant to take on risk. As a result, safe havens were supported while the commodity currencies came under pressure. The euro rallied versus the dollar to above $1.0900, supported by the risk off environment and was up 0.8% on the day so far. Sterling retained a weak bias and cable dropped to fresh 5-year lows below $1.4330. The commodity currencies under-performed and oil has fallen back below $30 [..]
FX Daily Outlook| 15-01-16
Posted on January 15, 2016 at 10:14 am GMT[..]
Asian Session – Oil prices reverse back down again but dollar steady
Posted on January 15, 2016 at 8:42 am GMTUS shares rebounded strongly on Thursday as crude oil prices closed over 2% higher. But Asian equities were mostly in negative territory on Friday as oil was sharply back down on looming supply from Iran. WTI crude futures gained 2.4% yesterday on reports that Russia was considering cutting oil production in 2016 but prices had fallen to $30.37 a barrel in late Asian session today. Data showing that bank lending in China rose less than expected in December also weighed [..]
FX Daily Outlook| 14-01-16
Posted on January 14, 2016 at 9:55 am GMT[..]
Asian Session – Oil stabilizes from 12-year lows; dollar recovers from overnight lows
Posted on January 14, 2016 at 8:26 am GMTMarket sentiment turned negative again in US trading on Wednesday after oil reversed its daily gains to head back towards 12-year lows. WTI crude futures hit $30.10, having earlier traded above $31, after US gasoline inventories came in above estimates. Prices had stabilized around $30.94 a barrel today. Brent crude was hit harder though as sanctions on Iran could be lifted as early as Friday. Brent futures hit a 2004-low of $29.73 earlier today but were up at $30.48 in [..]
FX Daily Outlook| 13-01-16
Posted on January 13, 2016 at 10:12 am GMT[..]
Asian Session – China trade falls less than expected; Dollar back above 118 yen
Posted on January 13, 2016 at 8:56 am GMTTrade data out of China today surprised on the upside as both exports and imports fell less than expected in December. Exports declined by 1.4% year-on-year in December, far above expectations of an 8% drop. Imports also fared better than expected, falling by 7.6% year-on-year versus estimates of an 11.5% drop. For the year as a whole, exports declined for the first time since 2009 but December’s figures may be a sign that the economy is stabilizing. Markets cheered the [..]
