oil

European Open Preview – Dollar steadies after slump, yen holds firm as recession fears mount

Posted on June 3, 2019 at 8:19 am GMT

US dollar manages to stabilize after Friday’s slump but Treasury yields tumble to fresh lows US-China ties continue to deteriorate but some hope for deal with Mexico Aussie defies gravity, climbs to 3-week highs on upbeat data Dollar off lows but remains weighed by recession risks Markets were mired in a risk-averse theme on Monday as there was little prospect of the United States and China ending their worsening trade row. In fact, relations between the two global powers hit [..]

European Open Preview – Yen and franc firm again as Trump bans Huawei, fuelling tensions with China

Posted on May 16, 2019 at 8:29 am GMT

Trump continues to up the pressure on China; imposes ban on telecom giant Huawei But some relief as US delays auto tariffs decision for now Dollar softer after unexpectedly weak data out of the United States Aussie worst performer as rise in Australian unemployment raises rate cut bets Fragile market mood as trade tensions remain elevated Markets were mostly in risk-off mood on Thursday as a combination of on-going trade frictions and disappointing economic data out of the world’s two [..]

Technical Analysis – WTI oil futures form a golden cross pattern

Posted on May 7, 2019 at 8:20 am GMT

WTI oil futures managed to close with marginal gains on Monday after falling below the longer-term 50 and 200-day simple moving averages (SMA) to touch a one-month low of 60.02. The short-term bias, though, remains neutral-to-negative as the MACD is losing steam below its red signal line and moving towards zero, while the RSI seems to be unable to return above its 50 neutral mark. In the medium-term picture, the news is more positive thanks to the golden cross formation by the 50- and the 200-day SMAs which indicates that a [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

Technical Analysis – WTI oil futures unlock fresh tops in overbought area

Posted on April 23, 2019 at 8:08 am GMT

WTI oil futures extended their bullish momentum above the 66 level and towards fresh six-month highs on Tuesday. While the RSI has re-entered the overbought territory, the Stochastics have yet to post a bearish cross above 80, indicating that there is still some room for improvement in the short term. Trend signals are also positive as the market action is currently taking place above moving averages and the Ichimoku cloud. The bulls are expected to find immediate resistance near 66.63, identified by the peak on January 2017. To take [..]

European Open Preview – Major pairs steady as China GDP awaited; aussie slips on rate cut bets

Posted on April 16, 2019 at 8:15 am GMT

Dollar steady as markets await economic releases for more clues on outlook amid signs of green shoots China GDP will be the week’s highlight and key in building on the current risk-on tone Market mood to also be determined by US earnings season as banks’ results underwhelm Aussie worst performing currency after RBA sets condition for rate cut Dollar off lows ahead of important data The positive risk sentiment from Friday continued to ease slightly on Tuesday as investors preferred [..]

European Open Preview – Dollar and yen pressured as China optimism lifts markets

Posted on April 15, 2019 at 8:22 am GMT

Safe-haven favourites, the dollar and the yen, trade near Friday’s lows as positive data out of China triggers a risk rally Encouraging comments from Mnuchin on US-China trade talks also helps risk sentiment Focus this week to centre on US earnings and China GDP ahead of long Easter weekend Jump in Chinese lending eases growth jitters Fears of a global slowdown, which were amplified early last week after the IMF lowered its global growth forecasts, subsided substantially on better-than-expected economic [..]

European Open Preview – Pound plunges as May makes final push for her deal; dollar holds firm as trade talks eyed

Posted on March 29, 2019 at 9:25 am GMT

Sterling is in freefall again after Prime Minister May decides to put her deal to a third vote, but without the political deceleration on a future relationship Dollar holds near highs despite lower GDP revision as Treasury yields recover Stocks bounce back as bond rally eases and on optimism of US-China trade deal MPs to vote again on Withdrawal Agreement minus the political declaration British prime minister, Theresa May, made a last-ditch attempt to get her Brexit deal through Parliament. [..]

European Open Preview – Dollar edges up as Treasury yields stabilize; Kiwi slumps as RBNZ hints at rate cut

Posted on March 27, 2019 at 9:17 am GMT

Dollar firmer despite weak US data as Treasury rally eases New Zealand dollar nosedives after RBNZ says rate cut more likely than a hike Pound choppy ahead of crucial indicative votes on Brexit in Parliament Steadier Treasury yields help dollar regain some footing The US dollar edged higher against a basket of currencies on Wednesday, extending Tuesday’s gains, as steadier Treasury yields alleviated the recent selling pressure, especially against the yen. The dollar index rose to a 2-week high of [..]

European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]

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