Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
During early Asian session, oil futures prices are trading above $80/bbl with marginal gain of 0.30 in electronic platform. As per National Hurricane Centre, US tropical storm Debby formed on yesterday in Gulf area is slowly dissipating. Currently 50 knots are there, however it’s not expected to strengthen further. Thus, gains in oil prices are […]
The Greek government made its re-negotiation platform (for talks with the Troika) public. They ask to extend the deadline for meeting the fiscal criteria by 2 years. They also want to scrap plans to cut 150K public sector jobs, repeal the 22% cut in the minimum wage and raise the income tax threshold. They apparently
Before the EU Summit Greece Makes its Demands Public Read More »
Overnight, Asian equities are also in the red, but the losses are not really excessive, given the sharp loss in the US yesterday evening. EUR/USD holding near yesterday’s closing levels in the mid 1.25 area. Today, there are no important eco data in the US. So the focus will remain on global economic growth and
Event Risk for the EUR/USD Today Read More »
Disappointment with the Fed decision yesterday weights heavily on Crude Oil. Crude has dropped to 80.39 and looks to break under the 80 price level. Not only did the Fed only do the bear minimum yesterday, by extending Operation Twist, they revised growth forecasts for the US, which has a negative effect on energy. Lower
Crude Oil Tumbles On Fed Statements Read More »
Equities are trading down following the increased risk from Europe to control the rising debt concerns. World leaders pressured Europe at the Group of 20 Nations Summit on Monday to take ambitious new steps to resolve its debt crisis while China has committed itself to boosting the resources of the International Monetary Fund in order
Metals and Energy React to Heightened Market Worries Read More »
Today is a very crucial day forglobal financial market, as the whole globe is waiting for the Greece election result. As of now, with 37.4 percent of the vote counted, official results showed the conservative New Democracy with 30.5 percent of the vote, ahead of the radical anti-bailout Syria party’s 26 percent and the pro-bailout Socialist
Greece – Gas and Oil Survive Read More »
During early Asian session, oil futures prices are trading above $84.50/bbl with gain of almost 0.90 percent from yesterday’s closing. Positive trend in oil prices is seen driven by both fundamental and economic stimulus in the market. That said, the lower USD also supports higher oil prices and the USD has been falling for the
Crude Oil after the OPEC meetings Read More »
Crude oil fell on Wednesday ahead of an OPEC policy meeting expected to leave the group’s production target unchanged, while weak economic data added to the bearish sentiment. Japan’s parliament is set to pass a special bill on Friday to allow it to provide insurance for continuing Iranian crude imports, making it the first country
OPEC Ministers Look at Production and Price of Crude Oil Read More »
During early Asian session, oil prices are seen hovering near $83/bbl with fall of more than 0.40 percent from yesterday’s closing. Ahead of OPEC meeting today oil prices have come under pressure with the question of rising, cutting or keeping the production quota by OPEC members. As per the OPEC monthly report, the world market
Energy in the Morning Read More »
The Spanish bank bail-out agreement reached over the weekend didn’t really ease fears over the ongoing euro crisis less than a week from all-important Greek elections. On the contrary, the relief rally was over when the market started trading in Europe. No more details became available via comments of policymakers. Global core bonds gradually erased
Investors Fears and Worries Remain Read More »
