Technical Analysis – WTI oil futures unable to conquer previous swing low

Posted on August 6, 2019 at 8:35 am GMT

WTI oil futures fell from the 58.79 peak from the beginning of the month to a spike low of 53.58. Presently standing at 55.25, the price is trading between the 56.00 resistance and 53.45 support. Although the Tenkan-sen is showing a downwards direction in the short-term, the Kinjun-sen has flattened over the recent period, with the sideways move suggesting some indecision present. The MACD has crossed above its red trigger line while in the negative region, whilst the RSI points [..]

Daily Market Comment – Dollar see-saws on data; euro edges up despite ECB stimulus hint

Posted on July 12, 2019 at 8:11 am GMT

US dollar firms again on stronger-than-expected data, which tempers bets of 50-bps rate cut Euro edges higher even though ECB minutes signal more stimulus Oil climbs to 1½-month highs on rising Middle East tensions and Gulf of Mexico shutdown Dollar fluctuates as markets undecided on 50-bps cut Just as markets were reconsidering the likelihood of a large 50 basis points cut by the Federal Reserve this month, stronger-than-anticipated data out of the United States dampened those expectations. Core inflation, according [..]

Daily Market Comment – Risk appetite creeps higher ahead of G20 talks; dollar advances

Posted on June 27, 2019 at 8:33 am GMT

Markets in cautiously optimistic mood ahead of crucial Trump-Xi meeting Reports that US and China have agreed to tentative truce over trade lift sentiment Dollar edges up but most pairs stuck in narrow ranges as G20 outcome awaited Modest hopes of positive talks buoy risk appetite    Signs that the US and China were moving close to reaching some sort of a truce over their trade dispute lifted market sentiment on Thursday. According to a Chinese newspaper report, the US [..]

Daily Market Comment – Cautious optimism ahead of G20 summit; dollar slips to 3-month lows

Posted on June 24, 2019 at 8:06 am GMT

All eyes this week are on planned meeting between Presidents Trump and Xi at the G20 summit Cautious optimism that progress can be made in stalled trade talks lifts equities on Monday But growing tensions between the US and Iran weigh on sentiment Dollar remains under pressure as markets expect a near-term rate cut by the Fed Hopes rise of positive talks at G20 summit Markets started the week on a positive note on Monday on hopes that the talks [..]

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Technical Analysis – WTI oil futures rally to 3-week high after breaking 50% Fibo

Posted on June 20, 2019 at 1:48 pm GMT

WTI oil futures for August delivery managed to break resistance around the 50% Fibonacci of the 42.53-66.57 upleg and pick up steam towards a new three-week high of 56.33 on Thursday. However, buyers would like to see prices running above the 38.2% Fibo of 57.37 and the 200-period simple moving average (SMA) in the four-hour chart to put faith in the recent rally.  Should the MACD and the red Tenkan-sen continue sloping upwards such a case may occur in the near-term. Slightly up, [..]

Daily Market Comment – Oil, gold up on Middle East tensions; dollar steady ahead of US retail sales

Posted on June 14, 2019 at 8:03 am GMT

Brent crude extends gains following tanker attack in Gulf of Oman; gold lifted too Dollar heads for weekly gains as US retails sales and Fed meeting eyed Aussie and kiwi sag on growing rate cut bets Oil jumps on renewed tensions in Middle East Market sentiment was mixed on Friday as ongoing trade uncertainty and a flare up in Middle East tensions were partly offset by growing expectations that the Fed will come to the rescue of a weakening economic [..]

Daily Market Comment – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

Daily Market Comment – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:17 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

Daily Market Comment – Dollar bounces back from soft jobs report on Mexico-US migrant deal

Posted on June 10, 2019 at 8:22 am GMT

Risk appetite recovers after the US unexpectedly suspends planned tariffs on Mexico indefinitely US dollar and global stocks boosted but Fed rate cut bets remain high following weak NFP report Disappointing Chinese data also limits risk-on as yuan hits fresh 2019 lows Markets lifted by surprise US-Mexico deal It was a positive start to trading on Monday as markets were greeted by some rare good news. President Trump unexpectedly suspended tariffs on all Mexican imports indefinitely late on Friday as [..]

Daily Market Comment – Dollar see-saws on mixed data, trade risks; euro steady ahead of ECB

Posted on June 6, 2019 at 8:24 am GMT

US dollar stabilizes after roller-coaster session amid mixed data and little progress in US-Mexico talks Euro eases from 7-week highs as ECB meeting eyed for direction Oil plunges on rising stocks, global growth jitters but gold soars Fragile risk sentiment as hopes of Mexico deal fade Markets were mostly in a risk-averse mood on Thursday as hopes of a quick deal between the United States and Mexico over illegal migration were dashed after President Trump tweeted yesterday that “not nearly [..]

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