All Articles Tagged - crude oil

Asian Session – Dollar down as global equities fall sharply on growth fears

Posted on September 30, 2015 at 12:05 pm GMT

Global equities extended their rout on Monday with major European indices falling by over 2%, while the S&P500 in the US closed down by 2.6%. Asian stocks fell sharply today in response with Tokyo’s Nikkei 225 index closing 4% lower and China’s Shanghai SE Composite index down 2.5% in late Asian trading. The latest selloff was triggered by data from China showing the biggest fall in industrial companies’ profits in four year, heightening fears of a deep slowdown. Meanwhile, the [..]

Asian Session – Fed says conditions for rate hike ‘approaching’ but worried about low inflation, dollar falls

Posted on August 20, 2015 at 7:45 am GMT

The dollar fell against major currencies on Wednesday after the Fed published the minutes of the FOMC meeting in July. The Fed sounded concerned on the persistently low inflation levels and was only ‘reasonably confident’ that inflation would return to the 2% target in the medium term. Some within the FOMC were more doubtful though on the inflation outlook, citing downside risks such as further falls in oil and commodity prices, further appreciation of the dollar and the lack of [..]

European Session – Euro falls close to SNB exchange rate floor versus Swiss Franc

Posted on December 12, 2014 at 11:07 am GMT

The euro came dangerously close to the Swiss National Bank’s exchange rate floor of 1.2000 Francs today, touching as low as 1.2007 in early European session trading. This was the lowest level in 27-months. Safe haven flows are helping buoy the swissie while the SNB’s avoidance of moving to negative interest rates after a policy meeting on Thursday also helped support the Swiss currency. The central bank kept rates at 0.00–0.25%. The euro however bounced against the US dollar in [..]

Technical Analysis – Crude Oil bullish momentum

Posted on February 21, 2014 at 10:04 am GMT

Crude oil is hovering at a 4-month high around the 103 level. Prices rallied from a January 9 low of 91.23 to a high of 103.27 on Thursday. Prices are now consolidating near this high. The market is being capped by the 61.8% Fibonacci retracement of the down- leg from the September high (110.68) to the January low (91.23). Daily momentum looks strong, as indicated by the bullish RSI which has now crossed above the 70 level. CCI is also [..]

US Session – Oil hits 5-week high after strong US data

Posted on March 26, 2013 at 8:32 pm GMT

Crude oil was the best performer during the US session on Tuesday, rising to above $96 a barrel, the highest in five weeks, boosted by optimism over energy demand fed by a jump in US durable goods orders. May crude is up over $1.60 on the day, and peaked at $96.43, the highest since February 20. US stock rallied to push the Dow to a record close. Data showed demand for long-lasting manufactured goods surged in February, while another report [..]

Commodities News – Oil declines from 4-mth high on falling demand

Posted on January 21, 2013 at 12:46 pm GMT

Oil prices are trading lower in Monday, down from a four-month high last Thursday. The CFD for crude is down to $95.50 in the Europe session today, trading sideways since its decline from Thursday’s high of $96.48. Meanwhile the crude oil contract for February delivery, which expires tomorrow, fell as much as 51 cents to $95.05 a barrel in electronic trading on the NYMEX and was at $95.07 at 9 a.m. London time. The March contract was down 46 cents [..]

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