oil

Technical Analysis – WTI oil futures in bullish near-term bias; neutral in medium term

Posted on December 19, 2017 at 1:33 pm GMT

WTI oil futures entered a neutral phase since late November following a rise from the 54 handle to 59. In the near term, prices gained upside momentum after testing and moving off the 57 level yesterday. The market remains well bid in the short-term as can been seen on the 4- hour chart. After yesterday’s sharp drop, prices found some traction to head higher to try and target the 58 level. RSI is rising slightly but not with enough strength [..]

US Open Preview– US tax bill on final stage; European stocks hold strong

Posted on December 19, 2017 at 11:28 am GMT

Here are the latest developments in global markets: FOREX: The dollar was steady versus the yen at 112.62 as investors were waiting for the final tax vote to begin today, while trading was in general thin ahead of the holiday season. The euro, on the other hand, posted moderate gains versus the greenback, edging up to an intra-day high of 1.1817(+0.23%) and remained flat against the pound at 0.8832 as the German Ifo business climate index inched below expectations but remained at [..]

European Open Preview – US tax bill heads for vote; aussie up on mostly upbeat RBA minutes

Posted on December 19, 2017 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly lower versus a basket of currencies as trading conditions were getting thinner ahead of the holiday period and attention remained on the tax story in the US. The antipodeans kept edging higher versus the greenback though their gains were subdued on a day with no sharp movements among major pairs. STOCKS: The Nikkei 225 finished 0.15% lower on the day, while the Hang Seng traded higher by [..]

US Open Preview– Dollar falls on tax doubts as stocks climb; May plans on transition period

Posted on December 18, 2017 at 12:48 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was weaker versus a basket of major currencies during early European trading hours as investors played down the post-growth effects of the proposed tax cuts. The dollar index touched intra-day lows at 93.68 (-0.26%). Euro/dollar was on track to break above 1.1800, reversing most of its Friday’s losses (+0.31%), as sentiment on the Eurozone’s economy remained positive. Dollar/yen was flat at 112.56 and pound/dollar was trading higher at 1.3360 (+0.32%). STOCKS: [..]

European Open Preview – US tax reform dominates attention; appetite for risk pushes equities higher

Posted on December 18, 2017 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly down against a basket of currencies after posting gains on Friday following the announcement that House and Senate Republicans have found common ground on the front of tax legislation. The antipodeans were again gaining ground versus the greenback. STOCKS: The Nikkei 225 added 1.55% and the Hang Seng was higher by 1.0% on a day when Asian equities were mostly on the rise on the back of [..]

US Open Preview– Brexit clock ticks down but pound steady; H&M drags stocks

Posted on December 15, 2017 at 11:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar continued to trade near yesterday’s lows versus its major peers as tax risks kept weighing on the currency after another US Senate Republican warned to give a “no-vote” on the promised tax cuts. Dollar/yen was weaker at 112.18 (-0.18%). Euro/dollar posted moderate gains, rising marginally above the 1.1800 key-level (+0.20%) as yesterday’s dovish ECB signals on eurozone’s inflation restricted larger gains. The pound was steady at $1.3418, while the kiwi remained the best performer, [..]

European Open Preview – Dollar close to week’s lows; EU leaders decide on Brexit

Posted on December 15, 2017 at 8:39 am GMT

Here are the latest developments in global markets: FOREX: The dollar was not much changed after hitting an eight-day low against a basket of currencies yesterday on uncertainty over the passage of tax reforms. Kiwi/dollar advanced after New Zealand’s finance minister expressed no concerns about a rising currency. STOCKS: The Nikkei 225 lost 0.6% and the Hang Seng was down by 1.1%, with Asian markets mostly on the decline . Euro Stoxx 50 futures were 0.25% lower at 0723 GMT, [..]

US Open Preview– Pound slips after BOE meeting; stocks weaker; ECB rate decision ahead

Posted on December 14, 2017 at 12:48 pm GMT

Here are the latest developments in global markets: FOREX: The pound hit a one-month high at $1.3463 in the wake of better than expected retail sales in November. However, it soon slipped back to 1.3420 after the BOE held rates steady but signaled that GDP growth in Q4 “might be slightly softer than in Q3”. The euro rebounded to $1.1830 finding support from upbeat preliminary manufacturing PMI readings for the month of December, while versus the pound it inched up to [..]

European Open Preview – Jobs report lifts aussie; ECB and BoE eyed

Posted on December 14, 2017 at 8:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was little changed after recording sharp losses the previous day as investors expected a more hawkish rate outlook by the Federal Reserve. The aussie was on a positive footing versus the greenback after better-than-anticipated employment figures. STOCKS: The Nikkei 225 finished lower by 0.3% and the Hang Seng was last down by 0.3%; most major Asian benchmarks headed lower though losses were limited. Euro Stoxx 50 futures traded [..]

US Open Preview– Dollar steadies ahead of Fed rate decision; European stocks mostly down

Posted on December 13, 2017 at 1:07 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained flat near intraday lows, last trading around 113.30 versus the yen (-0.21%), as the Democrats Senate win in Alabama weakened Republicans’ majority, threatening the Trump administration’s future economic agenda. The pound climbed higher towards 1.3350 (+0.23%) after the UK employment data showed that in the three months to October, earnings excluding bonuses surprisingly inched up on a yearly basis, while the unemployment rate stood flat at a four-decade low. [..]

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