All Articles Tagged - crude oil

European Session – Dollar holds near day’s highs as equities rally, yen retreats

Posted on November 7, 2016 at 3:34 pm GMT

The risk-on sentiment brought on by the FBI’s decision not to bring criminal charges against Hillary Clinton continued to prevail financial markets in Monday’s European session. Yesterday’s announcement by the FBI that they are closing their investigation into Clinton’s use of a private email server has given a last-minute boost to the Democrats’ campaign. This in turn has led to a relief rally ahead of Tuesday’s presidential election in the US. The dollar hit a one-week high of 104.62 yen [..]

European Session – Payrolls report fails to move dollar; Loonie hits 8-month low on oil, mixed data

Posted on November 4, 2016 at 4:04 pm GMT

A solid gain in US jobs in October was unable to lift the US dollar in today’s European session as markets remain gripped by the American presidential race as polling day draws nearer. Uncertainty over the outcome of the US election next Tuesday kept most major currencies within their recent trading range despite a relatively a busy day for economic data, the highlight of which was the non-farm payrolls report. US non-farm payrolls rose by 161k in October, slightly below [..]

European Session – Dollar reclaims 105 yen level but euro unfazed by Eurozone CPI and GDP data

Posted on October 31, 2016 at 3:12 pm GMT

Trading remained cautious in today’s European session as investors assessed the potential damage to Hillary Clinton’s chances of winning the US elections following the fallout from the FBI’s decision to reopen the investigation into Clinton’s emails. The US dollar extended its rebound from the Asian session to reclaim the 105 level against the yen. Adding support to the greenback today were solid consumer spending data which come on top of Friday’s better-than-expected GDP data. The recovering dollar pulled other majors [..]

European Session – UK GDP defies Brexit gloom but unable to lift pound; Dollar breaks above 105 yen

Posted on October 27, 2016 at 3:09 pm GMT

The US dollar remained underpinned by Fed rate hike expectations as it hit a fresh 3-month high against the yen in today’s European session, while the pound was unable to break above its recent range after UK growth beat expectations. The British economy defied fears of a Brexit-induced slowdown to grow by 0.5% q/q in the third quarter, only moderately weaker than the 0.7% rate of the second quarter. Expectations were for UK growth to more than halve to 0.3%. [..]

European Session – Dollar and oil firmer after data; Sterling awaits Q3 GDP above $1.22

Posted on October 26, 2016 at 2:53 pm GMT

Weaker crude oil prices weighed on market sentiment in Wednesday’s European session as energy stocks were dragged lower even as the dollar eased from yesterday’s near 9-month highs. Crude oil extended yesterday’s losses as investors grew sceptical whether major oil producers would be able to agree to significant measures next month that would help reduce the supply glut. Oil also came under pressure yesterday from Tuesday’s API inventory data that showed US crude stocks rose by more than expected last [..]

European Session – US dollar mixed as euro braces for ECB; Loonie firms on BoC

Posted on October 19, 2016 at 2:54 pm GMT

The US dollar was mixed – stronger versus the euro but down against the yen during today’s European trading. The weakness in the euro was pronounced versus other majors, as investors and traders perhaps expected some promises of stimulus extension by the European Central Bank when the bank’s Governing Council meets next tomorrow in Frankfurt. Euro / yen was near a 3-week low as it traded down to 113.10. The yen was strong while European stocks drifted amid weak earnings [..]

European Session – Dollar remains subdued while Brexit legal challenge caps sterling

Posted on October 13, 2016 at 1:06 pm GMT

The market mood remained risk-off in European trading on Thursday as disappointing trade numbers out of China earlier in the day dampened the outlook for the world’s second largest economy. Meanwhile, expectations that the Fed is on course to raise rates in December weighed on global equities. The September FOMC minutes published yesterday indicated that the decision not to raise rates in September was a close call, and given the recent strong set of data for the US, the Fed [..]

European Session – Dollar extends gains but sterling retreats from highs

Posted on October 12, 2016 at 3:14 pm GMT

The US dollar resumed its uptrend in European trading on Wednesday as traders made a bullish bet ahead of the release of the FOMC minutes of the Fed’s September meeting later in the day. The odds of a Fed rate hike have been strengthening over the past week following some solid US data. The dollar index, which measures the US currency against those of its major trading partners, hit a fresh 7-month high of 97.97, sending gold to a three-day [..]

FX Daily Outlook | 06-10-16

Posted on October 6, 2016 at 9:36 am GMT

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European Session – Yen slides 1% as oil deal boosts risk-on mood; dollar up on solid US data

Posted on September 29, 2016 at 2:40 pm GMT

The oil deal-driven risk-on sentiment ebbed slightly in late European trading on Thursday but the safe-haven yen continued to fall out of favour as it slid by around 1% against most major currencies. Yesterday’s surprise announcement by OPEC that a deal had been struck to limit output appears to have had more of an effect in boosting dollar/yen than statements from either the Fed or the Bank of Japan have in recent weeks. The dollar has risen sharply today to [..]

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