All Articles Tagged - crude oil

Oil rally fizzles out as doubts remain on OPEC commitment to deal

Posted on September 29, 2016 at 12:45 pm GMT

OPEC countries announced a surprise agreement on Wednesday to cut oil output for the first time since 2008, sending oil prices sharply higher. The deal calls for OPEC members to limit output to a range of 32.5-33.0 million barrels a day from the current 33.24 million bpd. The unexpected announcement comes after much speculation about whether any agreement was possible at the three-day meeting in the Algerian capital, Algiers. The bloc’s largest member, Saudi Arabia, has been at loggerheads with [..]

FX Daily Outlook | 29-09-16

Posted on September 29, 2016 at 9:38 am GMT

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Asian Session – OPEC deal to cut output boosts commodity currencies, risk appetite

Posted on September 29, 2016 at 6:47 am GMT

During today’s Asian session the market was still dealing with the aftermath of yesterday’s surprise decision by OPEC to limit its oil production. The market was at best expecting a deal to freeze output and there were serious reservations that OPEC would achieve even that as many meetings in the past ended in disarray and without any agreement. Therefore the fact there was an agreement and the additional aspect that it involved a production cut (even if it was a [..]

European Session – Euro see-saws on Deutsche Bank rumours; Dollar unfazed by Fed, data

Posted on September 28, 2016 at 3:05 pm GMT

The euro was under focus for much of today’s European session as uncertainty over the fate of Germany’s largest lender caused the currency to fluctuate. Meanwhile, the dollar held steady against the yen as traders awaited Fed Chair Janet Yellen’s semi-annual testimony in Congress. The future of Deutsche Bank was the main theme in European markets on Wednesday amid rumours that the German government is preparing a rescue plan for the troubled bank, which has been hit by a mega-large [..]

Asian Session – US dollar steady against yen and euro after Fed speakers, data

Posted on September 28, 2016 at 6:53 am GMT

The US dollar held on to the gains of the previous day against the euro and was off its lows versus the Japanese yen, as incoming data was positive for the greenback despite some relatively dovish Fed speakers. The euro was pinned near the 1.12 mark versus the dollar, due to re-emerging worries about the health of Europe’s banks and political uncertainty in Italy ahead of a key referendum in December. Deutsche Bank’s shares fell to a new record low Tuesday on [..]

European Session – Dollar erases gains versus yen; Oil slumps as hopes of deal fade

Posted on September 27, 2016 at 2:57 pm GMT

The positive risk sentiment brought on by last night’s Presidential debate in the US eroded during today’s European session. The US dollar reversed its post-debate gains when it rose against the yen after polls showed Hillary Clinton was seen as the stronger candidate. The greenback hit a high of 100.98 yen just before the European open but touched a low of 100.08 yen in late session. European stock markets also failed to benefit from the risk-on mood prevailing in today’s [..]

FX Daily Outlook | 27-09-16

Posted on September 27, 2016 at 8:57 am GMT

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European Session – Euro extends gains on strong Ifo; Dollar eyes Fed speakers and Clinton-Trump debate

Posted on September 26, 2016 at 2:22 pm GMT

Risk sentiment deteriorated during the course of the day with the US dollar coming under renewed pressure in Monday’s European session. Key risk events such as a series of speeches by Fed policymakers today and in the rest of the week, as well as the US presidential election debate later in the day, kept the dollar under pressure against most major currencies. Global equities also took a tumble as investors around the world await the first of three televised debates [..]

FX Daily Outlook | 26-09-16

Posted on September 26, 2016 at 9:04 am GMT

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European Session – Dollar rebounds modestly against yen but sags against euro, pound

Posted on September 22, 2016 at 3:00 pm GMT

The US dollar steadied in European trading on Thursday having earlier slid to a 4-week low against the yen following yesterday’s FOMC meeting. The euro and the pound continued to advance higher against the dollar however, adding to yesterday’s gains when the dollar fell after the Fed lowered its longer-run rate outlook even as it signalled one rate hike before the year-end. The euro hit a one-week high of 1.1257 dollars as there was little else apart from the FOMC [..]

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