All Articles Tagged - crude oil

Asian Session – Dollar edges higher on strong housing data but trading cautious ahead of Yellen

Posted on August 24, 2016 at 8:20 am GMT

Currency markets were stuck in a summer lull as the absence of any major data and cautiousness ahead of Yellen’s speech later this week kept trading subdued in Wednesday’s Asian session. The dollar was lifted from stronger-than-expected new home sales figures out of the US yesterday with investors shrugging off a slightly weaker-than-expected flash manufacturing PMI reading. The greenback spiked below 100 yen several times before edging higher after the housing data. It was last trading around 100.30 yen in [..]

Oil back in bull market but rally could already be fizzling out

Posted on August 22, 2016 at 1:16 pm GMT

Oil prices have seen an impressive rally of over 20% ever since reports of fresh efforts to revive talks for a production freeze started emerging in early August. The latest rally reversed most of the declines since June when prices briefly broke above $50 a barrel. The six-month long uptrend from January to June that took prices to near one-year highs was partly driven by supply disruptions and declining US output, and partly by the failed negotiations in April to [..]

Asian Session – Dollar extends gains as Fed’s Fischer adds to hawkish voices

Posted on August 22, 2016 at 8:30 am GMT

Markets were quiet on the first trading day of the week as the summer holiday and a very light calendar kept traders away. The main driver of currency markets on Monday were comments from Fed Vice Chairman Stanley Fischer, which triggered a fresh rally in the dollar. Speaking at a conference in Colorado on Sunday, Fischer said the Fed is getting close to hitting its targets for full employment and 2% inflation. He added that although jobs growth has slowed [..]

Asian Session – Dollar supported by hawkish Fed comments; Aussie dips on banks rating warning

Posted on August 19, 2016 at 8:28 am GMT

Currency markets were subdued on the last trading day of the week as volumes were thin due to the summer holiday and in the absence of any major data releases. The main market mover was more hawkish comments from Regional Fed presidents William Dudley and John Williams, which provided some support to the dollar. Dudley reiterated on Thursday that the US is getting closer to full employment and that economic growth should strengthen in the second half of 2016. Meanwhile, [..]

European Session – Aussie and kiwi surge as dollar slumps to one-week low

Posted on August 10, 2016 at 2:59 pm GMT

Risk sentiment remained subdued in European trading on Wednesday as the dollar continued to face downward pressure on renewed doubts about the likelihood of a Fed rate hike this year. The dollar index, which measures the greenback against a basket of currencies, fell to a one-week low of 95.44 in late European session as traders bet that the Fed will likely wait for stronger evidence of rising inflationary pressures before raising rates given the muted pace of economic growth. The [..]

Daily FX Outlook| 10-08-16

Posted on August 10, 2016 at 10:27 am GMT

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Asian Session – Yen rises on weaker dollar and strong Japanese data

Posted on August 10, 2016 at 8:12 am GMT

The yen firmed against major currencies on Wednesday as fading risk appetite and weak US data weighed on the dollar. Hourly output per worker in the US fell for the third straight quarter, raising concerns about the prospect of future GDP growth in the US. The dollar slipped below the 102 level against the yen after the data and drifted further lower in Asian trading today to stand at 101.40 yen in late session. Further aiding the yen today were [..]

European session – Pound hits 1-month low and dollar also falls back, but equities shine

Posted on August 9, 2016 at 3:14 pm GMT

Global equities were the main winners today from the risk-on mood that has prevailed since Friday’s solid US jobs report as currency markets suffered in lacklustre trading. The dollar fell back in today’s European session and the pound also came under pressure, while the yen firmed. European equities were heading for a fourth day of gains and US shares also opened in positive territory on Tuesday. The S&P 500 was once again flirting with record highs at 2185.6 in late [..]

Asian Session – Dollar flat in thin summer trade; Pound slips on BoE comments

Posted on August 9, 2016 at 8:14 am GMT

The dollar was flat in Asian trading on Tuesday as major currencies were struggling for direction in thin summer trade. The greenback was unable to advance beyond 102.65 against the yen yesterday and was stuck around 102.35 yen for much of today’s Asian session. The euro was also steady and hovered around 1.1080 dollars for a second day. There was little reaction to mixed German trade data out earlier. German exports rose by a less-than-expected 0.3% in June, but imports [..]

European Session – Risk rally drives up dollar and equities; Oil up on renewed production freeze calls

Posted on August 8, 2016 at 2:13 pm GMT

The dollar remained buoyant in European trading to steadily climb higher against the yen. It touched a session high of 102.65 yen as most traders upped their expectations that the Fed could raise rates by the year end if the US labor market continues to improve at the current pace. Dovish remarks by Fed Governor Jerome Powell failed to dampen the positive expectations. Speaking to the Financial Times today, Powell reiterated the need to be “patient” as he warned of [..]

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