All Articles Tagged - crude oil

US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

European Open Preview – Dollar eases off highs ahead of nonfarm payrolls

Posted on May 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Friday, but by less than 0.1%, recouping some of the losses it posted yesterday. Today, all eyes will be on the US employment data for April, and particularly on the wages component of that report. Sterling/dollar is down by 0.1%, with the British pound remaining under pressure as markets continue to price out expectations for a BoE rate hike next week. STOCKS: Wall Street closed [..]

European Open Preview – Sterling rallies ahead of crucial economic data

Posted on April 17, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was 0.1% lower on Tuesday, extending the losses it posted yesterday amid renewed speculation that the US administration is seeking a weaker currency. Sterling/dollar traded 0.15% higher today after surging yesterday as well, reaching a fresh high last seen in June 2016, amid speculation that upcoming UK economic data will “green light” a rate hike by the Bank of England in May. STOCKS: US markets closed higher yesterday, buoyed [..]

Oil edged higher despite trade risks, but is a correction in the works? – Commodity News

Posted on April 4, 2018 at 1:55 pm GMT

Oil prices rose in the latter half of March, aided by speculation the US is set to impose fresh sanctions on Iran, and expectations that OPEC could extend its production cuts into 2019. Strikingly, prices managed to climb even despite a deterioration in risk sentiment, which typically weighs on the precious liquid. However, with most of the “good news” priced in already, oil seems vulnerable to a near-term correction, amid an escalation in trade concerns and stretched-long speculative positioning. A [..]

US Open Preview – European stocks tumble, dollar stalls as trade worries persist

Posted on April 3, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher against the Japanese yen by 0.24% after three days of declines. However, the dollar index – which measures the greenback’s performance against six major currencies – fell by 0.10% on Tuesday, and is currently hovering just below the 90.00 handle. Euro/dollar was trading higher by 0.11% during today’s European session, standing marginally above the 1.2300 psychological level. Sterling advanced by 0.17% versus the greenback, hovering around its [..]

European Open Preview – Equities soften as China retaliates; US ISM manufacturing PMI pending

Posted on April 2, 2018 at 8:01 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% lower on Monday to start the new quarter, amid continued concerns over a US-China trade dispute escalating following the latest tariffs by China, due to take effect today. The British pound was on the front foot, gaining against both the dollar and the euro, extending the significant gains it posted in the first quarter amid a reduction in Brexit uncertainties. STOCK: US markets remained closed on Friday, [..]

US Open Preview – European stocks join the rout; RBA policy decision next

Posted on February 5, 2018 at 12:33 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index was little changed on Monday, last trading near the 89.10 level. Sterling/dollar was down more than 0.2%, pressured by the softer-than-anticipated UK services PMI for January. Dollar/yen fell nearly 0.3%, as the broader risk-off sentiment in equity markets strengthened the yen, which is typically regarded as a safe haven. Elsewhere, the aussie was 0.2% higher against the greenback ahead of the RBA’s policy decision, due at 0330 GMT on [..]

Forex News – Oil jumps 5% after first non-OPEC cut since 2001

Posted on December 12, 2016 at 4:42 pm GMT

Crude oil prices surged to 17-month highs on Monday after non-OPEC countries reached an agreement with OPEC members to cut oil output on Saturday. The deal is the first joint coordination between OPEC and non-OPEC states since 2001 and involves cutting output by 1.758 million barrels per day. It becomes effective as of January 1, 2017. OPEC members had already agreed on November 30 to cut the bloc’s output by 1.2 million bpd for the first time since 2008. It followed [..]

European Session – Euro and pound head higher as dollar falls back; Oil holds near highs

Posted on December 12, 2016 at 4:32 pm GMT

The US dollar hit a fresh 10-month high against the yen at the start of European trading on Monday, only to fall back later in the session. The greenback retreated to around 115.40 yen in late European session, having earlier briefly broken above 116 yen for the first time since February. Investor nerves over the Fed’s two-day policy meeting, which starts tomorrow, weighed on the dollar, even as US treasury yields continued to edge higher. Government bonds yields have been [..]

European Session – Pound slips on weak data, Brexit vote but euro firmer ahead of ECB

Posted on December 7, 2016 at 3:44 pm GMT

Major currencies were struggling for direction in Wednesday’s European session as cautiousness set in ahead of tomorrow’s ECB policy decision and next week’s FOMC meeting. The US dollar and the euro were confined to tight ranges but the pound underperformed as a combination of disappointing data and Brexit developments took their toll on the British currency. The euro benefited from positive risk sentiment brought about by reports suggesting Italy’s third biggest lender will likely receive a state bailout. This eased [..]

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