News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (-0.029%) S&P 500 (-0.042%) Nasdaq 100 (-0.071%) [delayed] -BBG
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzNxLW https://t.co/6jxS8XjdOV
  • Chinese Q1 GDP, retail sales and industrial production figures will set the tone for APAC trading on Friday. The world's second-largest economy is expected to register a 19% YoY growth rate in Q1, marking the highest reading in three decades. https://www.dailyfx.com/economic-calendar#today https://t.co/KtN0dzp53O
  • After another 48% rally this past session, Dogecoin ($DOGEUSD) is now up approximately 3,000% on the year. Makes Bitcoin's 118% climb in 2021 look like a pittance... https://t.co/jiczkmt6WT
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zHY7m https://t.co/63fFMZgCQA
  • 6 out of 9 Dow Jones sectors ended higher, with 73.3% of the index’s constituents closing in the green. healthcare (+2.39%), information technology (+1.54%) and consumer discretionary (+0.75%) were among the best performers, while energy (-0.82%) lagged behind.
  • 🇳🇿 Business NZ PMI (MAR) Actual: 63.6 Previous: 53.4 https://www.dailyfx.com/economic-calendar#2021-04-15
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/ObnecL3R6u
  • Heads Up:🇳🇿 Business NZ PMI (MAR) due at 22:30 GMT (15min) Previous: 53.4 https://www.dailyfx.com/economic-calendar#2021-04-15
  • For markets, data really only matters to the extent it drives monetary policy bets Did US retail sales absolutely crush estimates? YES Guess what? Odds of a #Fed rate hike by end of 2022 worsened, now about 54% chance vs 90% early April Dovish #Fed comments doing the real work https://t.co/8phPSG9DMe
Supply Outlook Ends USOil's Rally Before It Hits Strongest Run in 16-Months

Supply Outlook Ends USOil's Rally Before It Hits Strongest Run in 16-Months

Christian Lewis,

Talking Points

  • US Oil prices fell after four consecutive daily gaining sessions
  • There have only been three other 4-day rallies going back to April 2015
  • Government raises production forecast to average 8.73mb/d from 8.61mb/d

US Oil prices fell for the first time in five trading days after government forecasters raised their outlook for domestic production. That ended its climb before it could tally its first five day advance since April 2015. US-based output is now expected to average 8.73 million barrels per day this year instead of the 8.61 million barrels per day that was previously forecast. A nice oil rally in the spring, after a difficult start to the year, encouraged US oil producers to reactivate their idle rigs. This could potentially have added to the United States raising their domestic production outlook.

Supply Outlook Ends USOil's Rally Before It Hits Strongest Run in 16-Months

With this increase and the oil market remaining oversupplied, traders may be skeptical that the Organization of the Petroleum Exporting Countries (OPEC) would consider capping their production for the upcoming month. While the U.S. has shown a moderately healthy demand for oil, paired with a slowdown in global growth forecasts from the likes of the IMF, it may be difficult to soak up any additional output causing oil prices to extend losses.

With the supply-demand speculation still weighing in, a five-day climb for USOil would prove unobtainable. The last five-day rally was tallied back in April of 2015. There have been three other instances of four-day advances in that time frame with the most recent back on April 29, 2016.

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

DISCLOSURES