oil

US Open Preview– Euro thrives on political relief; US CPI & retail sales awaited

Posted on January 12, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: Hopes that the ECB will step back from its monetary stimulus and bets that Germany will form a grand coalition government soon added further gains to the euro during early European trading hours. Merkel’s Conservatives and their former coalition partners Social Democrats agreed today on a blueprint to formally start coalition negotiations. Euro/dollar rallied to a three-year high of 1.2136 (+0.76%), euro/yen surged to 134.78 (+0.64%) and euro/pound remained flat at 0.8891. The dollar index [..]

European Open Preview – Euro jumps on ECB minutes; US CPI & retail sales on the horizon

Posted on January 12, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded marginally lower on Friday, extending the notable losses it posted on Thursday on the back of weaker-than-expected US producer price data and a stronger euro. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix indices traded lower by 0.2% and 0.6% respectively, but Hong Kong’s Hang Seng index climbed 0.8%, trading at its highest since late 2007. In Europe, futures tracking the Euro Stoxx 50 were 0.3% up. [..]

US Open Preview – Excluding antipodeans, greenback remains in the green; US jobless claims & producer prices in focus

Posted on January 11, 2018 at 12:19 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained in the green relative to most majors though it – for the most part – gave up on a portion of gains made earlier in the day. The dollar index traded 0.1% higher at 92.45. The antipodean currencies were the ones advancing notably relative to the greenback, tracking fresh multiweek highs versus the US currency. Aussie/dollar was 0.3% up, after previously touching 0.7886, a level last reached [..]

European Open Preview – Dollar trips on China-related reports but recovers; eurozone IP and ECB minutes eyed

Posted on January 11, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher during the Asian trading session Thursday, after experiencing heightened volatility on Wednesday. The index initially took a dive on reports that China is considering to slow or cut its US bond purchases, but managed to recover its losses to trade virtually unchanged in the following hours. STOCKS: Asian markets were mostly in the red today, with Japan’s Nikkei 225 and Topix indices closing 0.3% and [..]

US Open Preview– Dollar dives after China said to hold back on US Treasuries; Oil waits for EIA report

Posted on January 10, 2018 at 12:03 pm GMT

Here are the latest developments in global markets: FOREX: The dollar took a knock after Chinese officials recommended to slow down or cut purchases of US Treasuries according to Bloomberg. The dollar stretched its losses toward a two-week low of 111.29 (-1.08%) versus the yen and sank marginally below the 92-key level regarding its index against six major currencies (-0.46%). The euro advanced on the news, flying from $1.1930 to $1.2000 (+0.60%), while the pound erased earlier losses, rebounding to an intra-day high of [..]

European Open Preview – Yen bulls remain in charge; UK manufacturing output due

Posted on January 10, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Wednesday, after previously trading higher for three days in a row. STOCKS: Asian markets were mixed, with Japan’s Nikkei 225 declining by more than 0.2%, pulling back from the 26-year high it reached earlier in the week, though still remaining close to those multi-decade high levels. Meanwhile, the Topix added 0.15% while in Hong Kong, the Hang Seng was higher by 0.4%. In Europe, [..]

Technical Analysis – WTI oil futures at 2½-year high; rally stalls around 62 level

Posted on January 9, 2018 at 1:55 pm GMT

WTI oil futures extended the rally after a brief pause and hit 62.53 earlier today, its highest level since May 2015. Prices have been rising steadily since late December from the mid-58 handle and successfully breached the key 60 mark for the first time in 2 ½ years. Upside momentum has faded and the market has stabilized around the 62 level. The drop down to the low 61s did not yield significant additional weakness and prices bounced back up. The [..]

US Open Preview– Dollar index crawls up ahead of JOLTs job openings; European stocks drift higher

Posted on January 9, 2018 at 12:27 pm GMT

Here are the latest developments in global markets: FOREX: The dollar pared some losses versus the yen, crawling up to 112.80 (-0.25%) after a trim of bond buying from the BOJ send the currency to a five-day low earlier in the day. Euro/dollar moved further down to 1.1924 (-0.33%) probably due to investors engaging in profit-taking, while pound/dollar corrected lower towards 1.3530 (-0.27%) on the back of a stronger greenback. The dollar index peaked at a 1 ½-week high of 92.30. [..]

European Open Preview – Yen bounces up on BoJ operations; eurozone unemployment expected at lowest since 2009

Posted on January 9, 2018 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – traded slightly lower on Tuesday, after posting some gains on Monday. STOCKS: Asian markets extended their recent winning streak, with Japan’s Nikkei 225 and Topix indices trading higher by 0.6% and 0.5% respectively as the nation returned from a holiday; both indices hovered near multi-decade highs. In Hong Kong, the Hang Seng climbed 0.3%, while [..]

US Open Preview – Euro shrugs off data; European stocks hit fresh highs

Posted on January 8, 2018 at 12:27 pm GMT

Here are the latest developments in global markets: FOREX: Encouraging data out of the Eurozone including on retail sales and economic sentiment did little for the euro which pared a small part of earlier losses in the wake of the figures. Euro/dollar continued to trade weaker, slightly below the 1.20 handle (-0.32%) as traders engaged in profit-taking. This compares to last week’s four-month peak of 1.2089. On the other hand, the UK’s disappointing housing figures kept the pound under pressure, with pound/dollar remaining close to intraday [..]

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