All Articles Tagged - crude oil

Asian Session – Dollar pulls back from highs as yen firms; kiwi jumps on RBNZ house price concerns

Posted on May 11, 2016 at 8:11 am GMT

The US dollar eased from its highs following a two-day rally as profit taking dragged the currency lower in Wednesday’s Asian session. The greenback came off from its peak against the yen at the start of Asian trading as it retreated from 109.36 yen to around 108.67 yen in late session. The yen found some support on Wednesday as the threat of immediate intervention receded. Many investors doubt whether the Japanese government would risk intervening in the currency markets before [..]

European Session – Dollar boosted by strong US data but euro and pound sag

Posted on May 4, 2016 at 3:07 pm GMT

Markets continued to be short on risk appetite on Wednesday as commodity currencies remained under pressure even as the dollar retreated from earlier gains. Major European indices were in the red again as traders turned gloomy on the outlook for global growth. The negative sentiment was heightened further by disappointing European PMI numbers out earlier today. The final reading of the Eurozone services PMI was revised lower from 53.2 to 53.1 in April, while the composite PMI was left unchanged [..]

European Session – Sterling falls after poor PMI; dollars firms on Lockhart comments

Posted on May 3, 2016 at 2:41 pm GMT

The US dollar pared back its losses in Tuesday’s European trading after the Fed’s Lockhart reignited expectations that the Fed could still be on course for two rate hikes this year. The greenback rebounded from fresh 18-month lows of 105.54 against the Japanese yen earlier today to test the 106 level in the European session. Speaking in Florida, Atlanta Fed President Dennis Lockhart told reporters that two rate hikes are “certainly possible” in 2016 and that the FOMC kept the [..]

European Session – Gold, oil hit fresh 2016 highs as dollar continues to slide

Posted on April 29, 2016 at 3:20 pm GMT

Commodities were bolstered on Friday from the weakening US dollar as soft consumer spending and inflation data reinforced expectations that the Federal Reserve will not be required to raise interest rates anytime soon. The dollar index, which measures the value of the US currency against a basket of currencies, hit an 8-month low and was down 0.7% at 93.09 in late European session. This helped crude oil to climb to fresh yearly highs, with US crude hitting $46.78 a barrel [..]

FX Daily Outlook|29-04-16

Posted on April 29, 2016 at 9:57 am GMT

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Asian Session – Yen extends post-BoJ gains; Dollar slides to 8-month low

Posted on April 29, 2016 at 7:47 am GMT

The US dollar fell to an 8-month low on Friday as measured against a basket of currencies as a dovish Fed and Bank of Japan inaction weighed on the greenback. The yen meanwhile extended yesterday’s impressive rally when it achieved its largest daily gain against the dollar in seven years. The US currency slumped to a fresh 18-month low of 106.89 yen against the yen in today’s Asian session and the dollar index hit its lowest since August 2015. With [..]

European Session – Dollar unmoved by weak GDP; Oil hits fresh 2016 high

Posted on April 28, 2016 at 2:11 pm GMT

The yen extended its gains at the start of European trading and was able to hold on to its gains in late session as traders digested the Bank of Japan’s surprise decision not to expand monetary stimulus contrary to market expectations. The dollar meanwhile was stuck near the day’s lows as weak GDP numbers confirmed that the US economy went through a soft patch in the first quarter. The greenback hit a low of 107.91 yen earlier in the European [..]

European Session – Major currencies seek direction from FOMC, BoJ; Oil retreats from 2016 highs

Posted on April 27, 2016 at 2:42 pm GMT

Trading was cautious in Wednesday’s European session as investors await the outcome of three central bank meetings due in the next 12 hours. The US Federal Reserve will be the first to announce its decision at 18:00 GMT and the dollar was struggling to find direction ahead of this key event. The greenback firmed against the yen during the course of the day but lost ground against the euro. Expectations that the Bank of Japan will announce some new measures [..]

Antipodean currencies soar to 10-month highs as risk appetite returns

Posted on April 19, 2016 at 11:53 am GMT

The Australian and New Zealand dollars soared to 10-month highs on Tuesday as risk appetite made a strong return on steady oil prices. Crude oil prices rebounded sharply on Monday after starting the day 6-7% lower following the failure of major oil producers on Sunday to agree to a freeze in output. Commodity prices have been recovering from their January/February lows, led by a rally in oil prices that was mainly driven by expectations that major oil producers such as [..]

Oil prices stabilize but outlook bleak after producers fail to agree output freeze

Posted on April 18, 2016 at 10:12 am GMT

Crude oil prices were stable on Monday after opening sharply lower following unsuccessful talks in Doha on Sunday to cap output. Eighteen OPEC and non-OPEC nations met in the capital of Qatar yesterday to try to reach an agreement on a possible production freeze that would have lent support to oil prices, which have tumbled around 75% since mid-2014. Oil prices rallied 60% from their 2016 lows after major producers consisting of Saudi Arabia, Russia, Venezuela and Qatar announced a [..]

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