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Oil Futures Jump After OPEC Cooperation Comment

Oil futures rebounded Thursday afternoon after The Wall Street Journal reported OPEC members might be ready to cooperate on a cut, citing UAE Energy Minister Suhail bin Mohammed al-Mazrouei. U.S. West Texas Intermediate (WTI) last traded down 2.26 percent, or 61 cents, at $26.84. It settled down $1.24, or 4.5 percent, at $26.21 a barrel, […]

    Top Trade Ideas

    Top trade idea for February 12th, 2016 – NZD/USD

    Kiwi Confluence Trade The confluence of fundamental and technical influences makes a trade more compelling for some traders. Those in this category may be following NZD/USD carefully at the moment. As the Fed embarks on its tightening cycle the RBNZ appears to be heading  towards easing. Further, the lower level of key NZ commodities, and […]

    MT4 Trading & Education

    How To Trade The Parabolic SAR in MT4

    Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 3 minute video, I’m going to introduce you to the Parabolic SAR indicator for MetaTrader 4. If you don’t already have a demo account, you can follow along for free with an OANDA account by clicking the link below this video.  Register For A […]

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    USD/CAD below 1.36 as Oil Price Stabilizes

    marketpulse

    The USD/CAD lost 0.17 percent as the USD retreated across the board ahead of the Federal Reserve’s rate decision announcement on December 16. There was no data to guide investors as the agenda was empty for both U.S. and Canadian releases with left the pair trading at 1.3565. West Texas crude recovered 0.36 percent in the past 24 hours in a volatile trading session that printed highs of $38.58 and lows of $36.49 but the WTI priced settled at $37.02101215cThe stockpile of U.S. crude fell by 3.6 million barrels according to the Energy Information Administration EIA when the forecast called for a gain of about half a million barrels. The price of oil could not capitalize on the drop in crude supply given that refined oil also surprised with a larger than expected increase. The larger stockpile of distillates offset the earlier gains on lower crude inventories. Warmer than usual weather is blamed for distillate demand being lower. The worldwide supply glut of crude and refined oil means that U.S. producers have nowhere to send the excess inventory, putting further downward pressure on the price of oil.101215dThe Canadian dollar will get little guidance from economic releases as the current week looks very thin on the economic calendar. The New Housing Price Index (NHPI) will be published on Thursday, December 10 at 8:30 am. U.S. economic indicators to note are the U.S. unemployment claims published on Thursday and the retail sales figures on Friday, December 11.

    CAD events to watch this week:
    Thursday, December 10
    8:30 am USD Unemployment Claims
    Friday, December 11
    8:30 am USD Core Retail Sales m/m
    8:30 am USD PPI m/m
    8:30 am USD Retail Sales m/m
    10:00 am USD Prelim UoM Consumer Sentiment

    *All times EST
    For a complete list of scheduled events in the forex market visit the MarketPulse Economic Calendar

    About Alfonso Esparza

    Alfonso EsparzaSenior Currency Strategist, OANDA, Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto. Follow on Twitterand on his Google+ profile.

    bitcoin brokers

    Bitcoin Rally Over After Weekend Sell-off

    The bitcoin rally technically ended with the decisive break of the $422 swing low on Saturday. First we saw prices crash through this level on OKCoin and other Chinese exchanges. The U.S. dollar exchanges like Bitfinex and BTC-E took a bit longer to break the level but soon enough they joined in the selling as […]

    Global Market Commentary

    Top trade idea for February 12th, 2016 – NZD/USD

    Kiwi Confluence Trade The confluence of fundamental and technical influences makes a trade more compelling for some traders. Those in this category may be following NZD/USD carefully at the moment. As the Fed embarks on its tightening cycle the RBNZ appears to be heading  towards easing. Further, the lower level of key NZ commodities, and […]

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