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WTI/USD – US Crude Continues Rally on OPEC Agreement

Oil prices have climbed sharply on Thursday, continuing the strong gains which marked the Wednesday session. In North American trade, WTI/USD futures are trading at $51.48. Brent crude futures punched past the $50 level on Wednesday and have climbed to $54.15, its highest level since August 2105. The Brent premium stands at $2.67. On the release […]

Trumps Dollar Surge to Die in December?

Five things the markets are talking about In November, Trump’s surprise U.S presidential win was a boon for the mighty dollar via the markets “reflation” trade hopes. Can the ‘big’ dollar gains be added to this month or has the market overshot the mark in their enthusiasm? The death of a deal is always in […]

Top trade idea for December 1st, 2016 – USDCAD

We’re still looking at the USDCAD pair as the latest OPEC saga didn’t bring anything new to the pair in the sense that price is not going anywhere. That being said, back on the daily chart above, the pattern seems to be virtually unchanged. OPEC agreed to cut oil production starting with next January and, […]

OPEC Agrees to Cut Production

OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut — and prove the group’s credibility — brought about its first cuts in eight years, Bloomberg News reports. OPEC will reduce production by 1.2 million barrels a day to 32.5 million a day, a delegate […]

Oil: Black Gold or Fools Gold?

The eyes of the world are on Vienna today as OPEC formally meets and announces whether it has made a production cut agreement or not. The direction of world crude prices will be dictated by its results. It has seemed like a  very long time since OPEC surprised us with a preliminary deal on cutting […]

OPEC Deal Uncertain as Ministers Meet in Vienna

European equity markets are expected to open a little mixed, while oil is seeing some profit taking following yesterday’s sharp losses as OPEC ministers prepare to meet in Vienna. Moves in oil have been a little wild again recently, with the build up to the OPEC meeting offering the usual mix of rhetoric that leaves […]

OPEC to Save Face with a Disappointing Deal

Five things the markets are talking about No more jawboning – is there a deal? Will they or won’t they announce a production cut? It’s all that dealers and investors want to hear from OPEC in Vienna this morning. Should a barrel of crude be trading above +$50 or below +$40? Whatever the outcome, the […]

Iran Says It Won’t Cut Oil Production

Iran, OPEC’s third-largest oil producer, said it won’t cut output as members of the exporter group met in Vienna before a crucial summit on Wednesday. The country isn’t prepared to reduce supply, Oil Minister Bijan Namdar Zanganeh said in the Austrian capital. Saudi Arabia is insisting that Iran and its neighbor Iraq participate in a […]

OPEC’s Poker Game Trump Dollar Moves

Five things the markets are talking about Has the impact of President-elect Trump’s surprise victory on the dollar and commodities peaked or do investors just want to get this event risk week out of the way before again imposing the “reflation” trade again? Capital Markets appear to be in the holding pattern going into the […]

WTI/USD – US Crude Sharply Higher Ahead of Key OPEC Meeting

US crude has started the week with strong gains. In Monday’s North American session, WTI/USD futures are trading at $46.83. Brent crude futures are trading at $48.12, as the Brent premium stands at $1.29. On the release front, there are no US events on the schedule. On Tuesday, the US will release Preliminary GDP for the […]

Dollar Succumbs to Profit Taking Ahead of Event Risks

Five things the markets are talking about Expectations that a OPEC production deal would unravel, a possible defeat in Sunday’s referendum in Italy and elections in Austria, coupled with the U.S presidential transition challenge of polls in battleground states by Clinton is dominating early trading. Consolidation in bonds and equities has been relatively muted compared […]

Week Ahead OPEC and US Jobs to Influence Markets

December rate hike boosted by encouraging Fed minutes Market action was interrupted by various holidays around the world but overall the U.S. dollar continued to rebuild the momentum it had after the elections. The minutes from the U.S. Federal Reserve meeting in November sent a strong signal about a December rate hike. The CME’s FedWatch […]

U.S Dollar Stumbles, But Does Not Fall

Five things the markets are talking about It seems that investors are happy to take a breather in this holiday-shortened week as the dollar pares this week’s surge supported by U.S rate differentials. The “reflationary trade” continues to suck money back in to U.S equity markets, while putting further pressure on emerging market FX rates, […]

Azerbaijan signals OPEC wants big cuts from non-OPEC producers

OPEC may ask oil producers outside the cartel to make big cuts in output, Azerbaijan said on Thursday, highlighting the challenges in striking a deal as the two sides enter the final stages of talks aimed at cutting production to stabilize prices. The oil minister of Azerbaijan, which is not a member of OPEC, was […]

U.S Dollar Hits Fresh Highs on Thanksgiving Holiday

Five things the markets are talking about The dollar is extending its gains following yesterday’s strong U.S durable goods and consumer confidence data, along with Fed minutes that all but cemented a Fed rate hike next month. Europe’s single unit has fallen to its lowest level since March 2015 (€1.0518) on fears ahead of the […]

Top trade idea for November 24th, 2016 – USDCAD

Back to the USDCAD pair today as the pattern that the market forms here is quite a complicated one. In the end, it turns out that this is a triangle that has for the e-wave a triangle of a lower degree. The whole structure is a very complex one and results in more than thirteen […]

North Sea Oil Glut to Get Short-Term Relief

A glut of North Sea oil that’s helped depress global prices and heap pressure on OPEC is poised for short-term relief after traders booked tankers to take as much as half of the region’s key oil flow to Asia. Mercuria Energy Group Ltd. and Royal Dutch Shell Plc booked Forties crude onto tankers that typically […]

Bond Rout Takes a Breather, FOMC Minutes Next

Five things the markets are talking about Death, taxes, and a Fed rate hike in December are life’s only certainties according to the bond market which now has the odds of an increase on Dec 14 at +100%. Markets will be watching todays FOMC minutes at (2:00pm EST) for that vindication, while seeking out the […]

WTI/USD – US Crude Dips, Markets Await OPEC Meeting

US crude has reversed directions and moved lower on Tuesday. In North American trade, WTI/USD futures are trading at $48.12. Brent crude futures are trading at $48.70, as the Brent premium stands at $0.58. On the release front, Existing Home Sales jumped to 5.60 million, well above the forecast of 5.47 million. As well, the Richmond […]

Crude Bulls Looking For $55 A Barrel

Five things the markets are talking about Hopes that the Trump administration would usher in a pro-business, pro-growth environment continue to drive stocks and yield higher and favour the dollar on rate differentials. Yesterday, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite closed out to complete a trifecta of records as equities continued […]

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