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  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
  • Market uncertainty sees GBP pairs break out of their ranges. Get your weekly GBP forecast from @HathornSabin here: https://t.co/IRO7a6Jv8J https://t.co/4LxWz7sOVF
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.01% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.21% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AXKeEsin95
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -0.27% Silver: -0.91% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PgsZBsHHp8
  • The Canadian Dollar is poised to snap a three week losing streak against the US Dollar after USD/CAD reversed sharply off technical resistance early in the week. Get your $CAD market update from @MBForex here:https://t.co/JhO6n3Di9h https://t.co/17N1aFRUDB
Bank Research Consensus Weekly 09.10.12

Bank Research Consensus Weekly 09.10.12

David Song, Strategist
Bank_Research_Consensus_Weekly_09.10.12_body_BankResearch.png, Bank Research Consensus Weekly 09.10.12

FX: ECB Action Supports the Euro

Arne Lohmann Rasmussen, Chief Analyst, Danske Bank

The ECB managed to fulfil market expectations this week as it scheduled a framework forsovereign bond buying in potentially unlimited amounts, once the country involved is under an EFSF programme. The ECB also removed the senior status on its new purchases. During the press conference, ECB President Draghi said that the new programme will be a “fully effective backstop that removes tail risks from the euro area”.

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Fed Rhetoric Suggests QE3

John E. Silvia, Chief Economist, Wells Fargo

Economic fundamentals suggest continued subpar economic growth, an above 8 percent unemployment rate and a below 2 percent inflation rate for the second half of this year and extending into the first part of 2013. In addition, there is the downside risk of a fiscal cliff hitting the economy early next year. All of this has not changed over recent months.

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U.S. – Weak Payrolls Put Fed One Step Closer To QE

Martin Schwerdtfeger, Senior Economist, TD Bank Financial Group

There couldn’t have been a better way to end the week than with a market rally fueled by the saving grace of the European Central Bank and a strong U.S. payrolls report. Although things didn’t play out exactly that way – the ECB gift came with strings attached and the payroll report was dismal – stock markets remained upbeat. At the time of writing, European stocks were up by more than 4% on the week, and the S&P 500 was trading 2.7% higher than last Friday. It seems that the unlimited size of the ECB’s bond buying plan announced yesterday was enough to eclipse the fact that countries will have to face tough conditions to qualify for it, and that the poor payrolls figure has cemented the expectation of a new round of quantitative easing by the Fed next week.

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Compiled by David Song, Currency Analyst

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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