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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 […]

XAU/USD – Gold Slips to 10-month Lows, Nonfarm Payrolls Ahead

Gold has lost ground in the Thursday session, continuing the downward trend we’ve seen for most of the week. In North American trade, the spot price for one ounce of gold is $1165.75. On the release front, unemployment claims disappointed. The indicator climbed to 268 thousand, its highest level since July. The markets had expected a […]

USD/JPY floats in the Ichimoko Cloud

After a breathtaking rally over the last three and a half weeks, USD/JPY could finally pause for a well-earned rest. Donald Trump’s victory already seems like a long time ago. The most notable beneficiary in the G10 space has off course been USD/JPY. With the reflation trade yield jump in bonds pushing out the USD […]

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 […]

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 […]

XAU/USD – Gold Dips as GDP, Consumer Confidence Climb

Gold has reversed directions on Tuesday and lost ground, erasing the gains from the Monday session. In North American trade, the spot price for one ounce of gold is $1187.75. On the release front, US data was impressive. Preliminary GDP sparkled in the third quarter, as the economy expanded 3.2%, above the forecast of 3.0%. The 3.2% […]

OPEC Cacophony

Overnight saw another high volume, volatile session for forex, driven on the back of strong US economic data. However, it was impossible for currency traders to sidestep OPEC musings given a 4% drop in WTI, after the cacophony from headlines all pointing to the division between the Saudi agenda and the reality of Iran and […]

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 […]

XAU/USD – Gold Edges Higher, Markets Eye US GDP Report

Gold prices have edged upwards to start off the week. In Monday’s North American session, the spot price for one ounce of gold is $1191.09. There are no US releases on Monday. On Tuesday, the US will release Preliminary GDP for the third quarter, with the markets expecting a sharp gain of 3.0%. The other key indicator […]

South African Rand Event Risk Today!

A shock no-confidence motion asking President Jacob to step down has been posted this weekend at the ruling ANC’s National Executive Committee meeting. The motion was tabled by the 3 Senior Ministers (a shock in itself) including the Chief Whip. Voting has been postponed until today and should happen sometime in the next few hours. […]

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 […]

Talks on Final Brexit Deal Will Have to Wait

Prime Minister Theresa May will not be able to begin talks on a final Brexit deal until the U.K. has agreed how much money it will pay to leave the European Union and resolved border issues, Maltese Premier Joseph Muscat said. The 27 remaining members of the EU are taking a three-tier approach to exit […]

Dollar Pares Gains to Offer Relief to Commodities

It’s been a slow start to trading on Friday, with yesterday’s bank holiday in the US weighing heavily on volumes and a severe lack of news flow leaving markets void of any significant catalysts. While today is not a bank holiday, trade is likely to remain very thin with many in the US opting to […]

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, […]