oil

Forex Market Review (European Session) – Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:46 pm GMT

As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. The dollar index managed to pick up by 0.34% on the day, reaching a two-day high of 93.54 during the session as the Senate’s approval of the 2018 budget [..]

Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:39 pm GMT

Forex Market Review (Asian Session) – Dollar faces tailwinds on 2018 fiscal budget approval; kiwi plummets as economic risks grow

Posted on October 20, 2017 at 7:56 am GMT

The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House of Representatives after the Republican-controlled Senate voted in favor of the 2018 fiscal budget yesterday which would add $1.5 trillion to the federal deficit over the next [..]

Forex Market Review (European Session) – Kiwi bears take charge on new government announcement; pound slips after retail sales slump

Posted on October 19, 2017 at 2:52 pm GMT

The kiwi posted additional long red candles during the European session after the kingmaker New Zealand First party backed the opposition party early today, forming a new coalition government. The pound fully reversed yesterday’s gains in the wake of worse-than-expected retail sales. September’s British retail sales tumbled by 0.8% from August, surprising analysts who had projected a smaller contraction of 0.1% as the pound’s weakness raised import costs and hence hit consumers’ wallets. The previous reading was also revised downwards [..]

Forex Market Review (Asian Session) – Kiwi sinks as Peters supports Labour Party; aussie slips as China’s growth softens

Posted on October 19, 2017 at 8:07 am GMT

A day after China’s twice-in-a-decade Communist Party Congress commenced, statistics out of China showed that the economy continued to grow above the government’s annual target, giving more confidence on President XiJinping’s leadership. However, the expansion was slightly softer relative to the previous quarter, with the Australian dollar falling slightly in the wake of the data. In New Zealand, the Labour Party looks set to govern the country pushed the kiwi to a near five-month low. According to the National Bureau of Statistics [..]

Forex Market Review (European Session) – Dollar pulls back as Trump opposes Senate healthcare deal; pound down as real wages disappoint

Posted on October 18, 2017 at 3:34 pm GMT

While China was in the spotlight during the day, with the Chinese President Xi Jinping opening the country’s biggest political event, the Communist Party Congress, in the US, President Trump showed opposition to the bipartisan healthcare deal, driving the dollar lower. The pound also weakened after employment data showed that UK real wages remain negative. The dollar index stalled its uptick driven mainly by speculations that Trump will replace the Fed chair with a hawkish candidate in February, retreating to [..]

Forex Market Review (Asian Session) – Eyes on Chinese communist party conference; loonie, Mexican peso jump as NAFTA talks extend

Posted on October 18, 2017 at 7:54 am GMT

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the Canadian dollar and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy [..]

Forex Market Review (European Session) – Pound tumbles on dovish BoE comments; Fed chair talk drives dollar higher

Posted on October 17, 2017 at 2:37 pm GMT

Sterling took a tumble on Tuesday after Bank of England officials appeared more cautious than anticipated in supporting policy tightening even as UK inflation rose to a 5½-year high in September. The US dollar enjoyed a second day of solid gains as investors speculated that President Trump was considering appointing an inflation hawk as the next head of the US Federal Reserve. The euro meanwhile remained subdued as renewed political risks continued to weigh on the currency. It was a [..]

Technical Analysis – WTI oil futures maintain bullish view in short-term; momentum remains positive

Posted on October 17, 2017 at 11:17 am GMT

WTI oil futures have shifted to a bullish phase and are making a steady recovery after breaking above the key 50.00 level. On the 4-hour chart, the crossover of the 20-period moving average above the 50-period MA highlights the bullish bias. Momentum indicators are positive. The rise from the October 6 low of 49.07 is still in progress but the market will likely remain in a range between 51.60 and 52.33 in the near-term. Immediate support is at 51.60. This [..]

Forex Market Review (European Session) – Pound steady ahead of May’s Brussels meeting; euro posts moderate losses after Puigdemont misses deadline

Posted on October 16, 2017 at 3:22 pm GMT

With Fed chair Janet Yellen being confident that inflation measures will move towards the Fed’s 2% target in the upcoming months and business conditions improving the most in three years in October according to a survey conducted by the New York Fed, the dollar index managed to gain 0.12% on the day, climbing to a 5-day high of 93.36. Dollar/yen stood flat around 111.81. Meanwhile, in the fiscal policy front, a tax analysis released by the Trump administration on Monday [..]

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