All Articles Tagged - crude oil

Crude oil under renewed downside pressure as oversupply worries resurface

Posted on July 26, 2016 at 2:25 pm GMT

Crude oil prices have come under increased selling pressure in recent days as worries about the oversupply in the market have resurfaced. Despite a series of disruptions to supply in recent months which pushed prices to fresh yearly highs in June, concerns that demand has not picked up as fast as had been expected have led analysts to re-assess their outlook. US crude fell to its lowest since 2003 back in February this year, touching a low of $26.05 a [..]

European Session – Pound tumbles after PMI points to contraction in economic activity

Posted on July 22, 2016 at 2:44 pm GMT

The main news item in today’s European session was the release of the Markit PMI business surveys for a number of developed countries. The Eurozone PMI beat expectations on the composite level, as it fell to only 52.9 compared to 52.5 expected by economists. The previous month’s figure was 53.1. Therefore it appeared that Brexit had only a modest negative effect on Eurozone businesses. In Germany, services’ PMI was much stronger-than-expected, which showed solid domestic demand. Manufacturing did less well [..]

FX Daily Outlook| 21-07-16

Posted on July 21, 2016 at 10:10 am GMT

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Asian Session – Dollar breaks above 107 yen; Kiwi pressured by RBNZ outlook

Posted on July 21, 2016 at 8:18 am GMT

Improved risk sentiment helped the dollar higher against the yen, while stimulus talk continued to pressure the Japanese currency on Thursday. The dollar broke above 107 yen for the first time in six weeks as Japan’s government said today it is planning a fiscal stimulus package worth 20 trillion yen. The figure is double the initial sum of 10 trillion yen that was previously mentioned. Most analysts are now with the view that the Bank of Japan will accompany the [..]

European Session – Commodities sag as dollar extends gains; pound boosted by BoE survey

Posted on July 20, 2016 at 2:49 pm GMT

Commodity prices fell sharply in today’s European session as the US dollar continued its advance against most major currencies. Sentiment for the US currency appears to have turned bullish in recent days after a run of solid US data put the prospect of a Fed rate hike at some point in 2016 back on the table. The dollar rose to its highest since June 24 against the yen, reaching an intra-day high of 106.71 yen in late European session. This [..]

FX Daily Outlook| 20-07-16

Posted on July 20, 2016 at 10:05 am GMT

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Asian Session – Dollar rises to 4-month high on strong US data

Posted on July 20, 2016 at 7:49 am GMT

The US dollar climbed to a 4-month high against a basket of currencies in Asian trading on Wednesday, extending yesterday’s gains. The greenback has been bolstered in recent days by a series of solid US economic data, including stronger-than-expected housing figures yesterday. The dollar index rose above 97.0 for the first time since March yesterday and hit a high of 97.29 earlier in Asian trading today. The run of healthy indicators for the US economy has renewed expectations that the [..]

European Session – Euro and pound tumble after ZEW survey and IMF growth downgrades

Posted on July 19, 2016 at 2:44 pm GMT

The week-long risk rally lost momentum today as a downbeat business sentiment survey out of Germany and downgrades by the IMF to its growth forecasts weighed on sentiment. The euro slipped to a 1½-week low against the dollar, slumping to 1.1011 in late European session, having started the day above 1.1070 dollars. The single currency was hurt by much weaker-than-expected German business survey data, which showed German investors were worried about the impact on the economy from Brexit. The German [..]

FX Daily Outlook| 19-07-16

Posted on July 19, 2016 at 9:54 am GMT

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Asian Session – Aussie and Kiwi slide on risk-off and rate cut expectations

Posted on July 19, 2016 at 8:18 am GMT

The Australian and New Zealand dollars fell by over 1% in Asian trading on Tuesday as a combination of risk-off sentiment and expectations of further rate cuts drove the Antipodean currencies lower. The minutes of the Reserve Bank of Australia’s latest meeting kept open the possibility of additional easing as the central bank said inflation is expected to remain quite low and growth will likely moderate in the second quarter. It repeated its warning that an appreciating exchange rate could [..]

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