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USD Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast

Talking Points: Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast Euro Finds Too Little Traction, Too Late Yen Crosses Advance after BoJ Downgrades Growth Assessment Dollar Crawls to Fresh Five-Year High as Markets Focus on Rate Contrast A drain in liquidity often translates into a moderation in heavy exposure or one-sided […]

West TX Oil Settles Below $55

Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. In early trade, oil extended gains from the previous session, when short-covering lifted prices more than $3 a barrel. But in late morning […]

West TX Oil Rallies to $56 on Falling Crude Inventories

Oil prices jumped on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. WTI crude closed 54 cents higher at $56.47 per barrel after surging to a session high of $58.98. It touched its […]

West TX Oil Remains Below $56

U.S. oil prices rallied abruptly at midday on Tuesday, reversing earlier losses on what traders said was a mix of profit-taking on crack spreads and positioning ahead of WTI options expiry later in the day. WTI crude settled 2 cents higher at $55.93 per barrel, after peaking at $57.15 earlier. The Brent crude contract for […]

Pound May Weaken on UK CPI, Euro to Look Past PMI Data

Talking Points: US Dollar Corrected Lower in Overnight Trade, Loonie in the Lead Ruble Bounce on Surprise Russia Interest Rate Hike Unlikely to Last UK CPI May Weigh on British Pound, Euro to Look Past PMI Data The US Dollar corrected lower in overnight trade having edged higher in the preceding 24 hours. The Canadian […]

West TX Oil Drops Below $56 as OPEC Rules Out Emergency Meeting

Crude prices came under renewed selling pressure Monday after OPEC said it would not cut oil output despite fears of a glut, and a UAE official opposed holding an emergency meeting of the producer group to fix prices. U.S. crude settled down $1.90 at $55.91 per barrel, the lowest settlement since May 2009. The contract […]

West TX Oil Below $59.50 as Producers Tussle for Market Share

Oil extended losses below $60 a barrel amid speculation that OPEC’s biggest members will defend market share against U.S. shale producers. Brent also slid after closing at the lowest price since July 2009. West Texas Intermediate futures fell as much as 1.9 percent in New York and are down 10 percent this week. Iraq, the […]

Euro Traders Prepare for Direct Stimulus Update

Talking Points: Dollar and S&P 500 Suffer Worst Declines Since October Panic Euro Traders Prepare for Direct Stimulus Update Swiss Franc Potential Lopsided in SNB Rate Decision Dollar and S&P 500 Suffer Worst Declines Since October Panic ‘The Dollar’s safe haven status is broken’? That seems to be a claim be made more often these […]

West TX Oil Settles Above $63 on Weaker U.S. Dollar

The January contract for U.S. crude oil settled higher on Tuesday after touching a more than five-year low earlier in the session as players sought a sustainable price for oil in a market haunted by oversupply concerns. WTI futures settled up 77 cents at $63.82 on the Chicago Mercantile Exchange, after swinging between a high […]

West TX Oil Drops Below $63 as Selling Continues

World oil prices slid another 4 percent to new five-year lows on Monday, as expectations of a deeper slump next year and a prediction by a core OPEC member that crude will remain at $65 for several months triggered another round of selling. U.S. crude oil settled 4.2 percent lower at $63.05 per barrel, at […]

West TX Oil Sits Above $67 with Jobs Data in Focus

U.S. crude futures extended gains towards $68 a barrel on Thursday, buoyed by positive inventory data.  Investors are turning their focus to U.S. jobs data due on Thursday and Friday for clues on the strength of demand in the world’s largest economy and oil consumer. U.S. crude futures had risen 31 cents to $67.69 a […]

West TX Oil Steadies Around $68 as Crude Inventories Drop

U.S. crude futures gained more than one percent on Wednesday, rising close to $68 a barrel, after industry data showed a larger than expected drop in crude oil inventories in the United States. U.S. crude for January was at $67.76 a barrel by 2353 GMT, up 88 cents, after dropping more than $2 in the […]

Australian Dollar Hit 4 Year Low on High Volume Before RBA

Talking Points: Dollar Drops as Commodities Rebound and Equities Slide Australian Dollar Hits 4 Year Low on High Volume Before RBA Swiss Franc: EURCHF Doesn’t Rally Far After ‘No’ Vote on Gold Dollar Drops as Commodities Rebound and Equities Slide In a day scarred by volatility, the Dollar notably ended the day in the red. […]

Oil Continues Decline after OPEC Decision Last Week

US crude prices plunged on OPEC’s decision to not cut output, but light trading on Friday after the U.S. Thanksgiving Day holiday meant there could be more losses when markets return to full strength next week, traders said. U.S. crude’s front-month contract closed $7.54, or 10.2 percent, lower at $66.15 per barrel—its lowest settlement since […]

Japan Imported US Oil First Time in 4 Years

Japan imported U.S. oil for the first time in four years as companies find ways around a four-decade ban on American exports and the Asian nation seeks to cut its dependence on Middle East suppliers. Japan, which relies on Saudi Arabia for 33 percent of its supply, imported about 300,000 barrels of oil from the […]

Euro Heading Into Turbulent Fundamental Seas

Talking Points: Dollar: US Capital Markets are Closed, But Not the Currency Euro Heading Into Turbulent Fundamental Seas Yen Crosses Far More Sensitive to Policy Comments with Risk Sidelined Dollar: US Capital Markets are Closed, But Not the Currency With the US heading into its Thanksgiving holiday, liquidity was seen draining from the system. Given […]

OPEC Mixed on Oil Production Cuts as Shale Threat Rises

The two main drivers of the price of oil have been an increase of production in the U.S. with the use of shale oil technology, and a lower demand for energy as global growth slows. Geopolitical turmoil has taken a backseat to those two factors. Even rising violence in oil producing states has not deeply […]

Oil Continues to Slide Before OPEC

Crude oil dropped, extending declines after closing at the lowest level since 2010, on concern OPEC members may fail to agree on cuts to output when they meet this week. The yen headed for its first back-to-back gain this month and Australian stocks climbed. West Texas Intermediate crude slipped 0.4 percent to $73.77 a barrel […]

Dollar Reaches Fresh Five-Year High with Little Enthusiasm

Talking Points: Dollar Reaches Fresh Five-Year High with Little Enthusiasm Euro Rebounds as ECB Ranks Break on Push Towards Open Stimulus Yen Crosses Heading for Breakout as Currency Warning Weighs Dollar Reaches Fresh Five-Year High with Little Enthusiasm Another day and another five-and-a-half year high for the Dow Jones FXCM Dollar Index (ticker = USDollar). […]

OPEC May Spare Three Nations From Oil Cuts

OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude. Iraq, Iran and Libya wouldn’t have to reduce supplies should […]

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