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. See our updated Privacy Policy here.

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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
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
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
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
  • it's a big week for $TSLA stock last week it gave up the trendline that's been in-play since last August This week, opening at the 38.2% retracement of the 2020/21 rally https://t.co/cUThTeLFN8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.11%, while traders in Germany 30 are at opposite extremes with 74.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lyppug4pkN
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the weekly open! https://t.co/chKtG7ezG9
  • What are some trading takeaways from 2020, as we jump into 2021? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/aRwDcR3vTc
  • Weekly Strategy Webinar starting in 15mins on DailyFX! https://t.co/lxd5fZnn4H
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.14% 🇪🇺EUR: -0.02% 🇨🇭CHF: -0.05% 🇨🇦CAD: -0.17% 🇦🇺AUD: -0.52% 🇳🇿NZD: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/PBWIlTgB2d
  • $Gold another fresh 3 month high getting closer and closer to the big test. Bull flag resistance confluent with fibo zone, just ahead https://t.co/N1tUmUKBIa
  • Please join @MBForex at 8:30 EST/12:30 GMT for your weekly scalping webinar. Register here: https://t.co/fnmiAygMWK https://t.co/HNKulK5xoL
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-17
  • $USDCAD at a massive level as it challenges the neckline of a Double Top formation carved out over the past 4 years A weekly close below the psychologically pivotal 1.2000 handle could pave the way for prices to tumble towards parity in the coming months $CAD https://t.co/hcqat64uhY
Asian Stocks Mixed, Investors Digest Oil Output-Cut Extension

Asian Stocks Mixed, Investors Digest Oil Output-Cut Extension

David Cottle, Analyst

Talking Points:

  • Disappointment at oil market developments market the session
  • The Organization of Petroleum Exporting Countries, and others agreed to extend output cuts
  • But the market had been hoping for more

Get live coverage of major Asia/Pacific market movers at the DailyFX webinars page

Stocks in Asia were mostly lower Friday after major oil-producing nations agreed to extend their ouput cuts for nine further months at an OPEC meeting in Vienna on Thursday.

The 1.8 million barrel-per-day cut first inked in November 2016 will now last until November 2018. Crude oil prices fell quite sharply in the aftermath of this announcement however, with many investors clearly having hoped for more aggressive cuts. US crude oil prices relinquished the $50 handle which it had held for much of the week. International benchmark Brent shed about 0.5%.

The Nikkei 225 ended down 0.6%, with Australia’s ASX down by a similar amount. However Chinese stocks managed gains and South Korea’s Kospi remains near all time highs on hopes for the local economy and domestic export demand.

Disappointment at the oil deal weighed on commodity currencies, while the UK pound took a knock from polls suggesting that the ruling Conservative party’s poll lead is narrowing as the early June election day approaches. These factors gave the US Dollar some modest respite.

Gold prices held up after an initial dip. Weakness in local stocks lent them some support.

There’s a distinctly Stateside slant to the rest of the economic day. Another look at US first quarter Gross Domestic Product growth is coming, with the initial 0.7% annualized gain expected to be revised up to a still-not-thrilling 0.9%. Investors will also get a look at durable goods order data for April, the University of Michigan’s consumer confidence snapshot and the Baker Hughes oil rig count.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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

DISCLOSURES