Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
With US markets closed today for the Independence Day holiday, trading is expected to be light during the European session and then quiet the rest of the day. There is little in the way of eco data from around the globe. Commodity markets closed higher for the second time in 3-days, with oil prices leading […]
Gold – Silver – Crude Oil and Gas on the Holiday Read More »
Chinese HSBC manufacturing contracted to the lowest level in the last seven months. Base metals surrendering part of its 4-percent gain, after data at the weekend showed a factory slump in Asia’s two biggest exporters, China and Japan, had deepened in June. The decline in purchasing managers index fanned concerns over demand for base metals
Commodities and Currencies Kick Off July Read More »
Gold fell to the lowest level in almost 4-weeks amid signs of slowing US growth while dollar gained on speculation that European Union leaders will struggle to solve the debt crisis. Gold has lost its safe haven title as investors begin to move into the risk markets. Although risk aversion remains the theme with no
Energy and Metals Review Read More »
During early Asian session, oil futures prices are trading above $79.50/bbl with a marginal gain of 0.10 percent in electronic platform. As per American petroleum Institute, ( please note that the API inventory indicators have been wrong more than right in the past months ) crude oil stocks have declined in Cushing Oklahoma delivery centre
Crude Oil tumbles while Natural Gas soars Read More »
During early Asian session, oil futures prices are trading in a lower trend on concern of rising stock piles, where lower demand is expected from major oil consuming nations. Prevailing European debt crisis getting tough day by day as partial solutions are not helping the global market to withstand. The credit rating agency Moody has
US Natural Gas gets a lifeline from Japan Read More »
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 »
