WTI oil price falls sharply, on track for the biggest daily loss since mid-November
WTI oil price fell nearly 5% on Monday, deflated by decision of top oil exporter, Saudi Arabia, to cut February selling price to Asia to the lowest in over two years and rise in OPEC output.
The measures partially counter persisting…
Read More...
Read More...
AUDUSD – bears are regaining traction after Friday’s pause
AUDUSD returned to red and fell below 0.6700 mark (reinforced by daily Kijun-sen), signaling that bears are regaining control after Friday’s long-legged Doji pointed to strong indecision.
Risk sensitive Australian dollar came under…
Read More...
Read More...
EURUSD – near-term action remains in sideways mode and looks for direction signals
Near-term action remains directionless and holding within the range which extends into fourth consecutive day.
Friday’s long-legged Doji, left after turbulent post-NFP action, contributes to sideways mode, along with mixed daily…
Read More...
Read More...
US employers hired more than expected in December, wage growth remains solid
US Nonfarm payrolls increased by 216,000 jobs in December, surpassing expectations, while November figure was revised lower to show payrolls rising 173,000 instead of the initially reported 199,000. Economists had expected an increase of…
Read More...
Read More...
Euro zone inflation rises in December and partially cools expectations for rate cuts
Eurozone inflation increased to 2.9% in December from 2.4% in November, just below the expectation of a 3.0% reading. This supports the European Central Bank's (ECB) decision to keep interest rates at record highs for some time.
The rise…
Read More...
Read More...
USDJPY – completion of reversal pattern adds to upside potential
Strong three-day recovery completed the three white soldiers reversal pattern on daily chart, adding to upside potential, as 14-d momentum in steep ascend broke into positive territory and RSI is heading north.
Bulls broke and extended…
Read More...
Read More...
US private payrolls rise above expectations in December – ADP
The ADP National Employment Report, released on Thursday, showed that US private employers added 164,000 jobs in December.
This figure exceeded expectations and marked the largest monthly increase since August.
The data for November was…
Read More...
Read More...
Eurozone business activity remained subdued in December, raising fears of recession
Persistent downturn in the dominant services industry signals that contraction in euro zone business activity continued and indicates the bloc's economy was in recession.
Eurozone Composite Purchasing Managers' Index (PMI) was revised…
Read More...
Read More...
Gold regains traction but more evidence needed to signal reversal
Gold price edged higher on Thursday morning, after a four-day pullback from $2088 (Dec 28 high) found a footstep at $2030 (50% retracement of $1973/$2088 upleg).
This points to initial signal of a healthy correction of larger uptrend, as…
Read More...
Read More...
Crude oil price rises further on growing supply concerns
WTI oil price rose further in early Thursday’s trading, in extension of 3.5% rally on Wednesday, the biggest daily gain since Nov 17.
Worsening fundamentals on closure of one of the largest oil fields in Libya and increased tensions…
Read More...
Read More...