Forex and the Economy

Oil Unchanged With OPEC Deal Anxiety and Rising US Production Cancelling Each Other

Oil prices were little changed on Thursday as a drop in crude exports from OPEC’s defacto leader Saudi Arabia and a draw in U.S. oil inventories supported prices, while the strengthening dollar and weak equities kept futures in check. Brent crude futures were at $71.70 a barrel by 11:24 a.m. EDT ...

OANDA Market Insights podcast (episode 61)

OANDA Senior Market Analyst Craig Erlam previews the week’s business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week they discuss the markets heading into the long bank holiday weekend, earnings season and the upcoming BoC and BoJ meetings. USD/CAD Canadian D ...

WTI crude – Is stalling a bearish signal?

Oil finding resistance after inventory data Oil is trading marginally lower so far today, with a stronger dollar potentially being a drag on WTI crude. Yesterday’s inventory report from EIA may also have taken some of edge off the rally, with the drawdown having been lower than that reported by A ...

Gold slips to 2019 low as global economic outlook improves

April 18 (Reuters) – Gold traded near its lowest level since end-December on Thursday as indications that the global economy might not be as pain-stricken as previously feared prompted investors to take risks ahead of a slew of economic data. Spot gold eased 0.1 percent to $1,273 per ounce by 072 ...

Gold – How bearish was the breakout?

Can gold break $1,280 again? Earlier this week, gold broke below long-term support around $1,280 and, importantly, held below in what was viewed as a very bearish development in the yellow metal. Since then though, it hasn’t exactly triggered a wave of selling that may be expected when such a sig ...

Third and Final Leg of Stock Market Crash in October or Sooner – Part 1

April 18, 2019 In this article, I explain why I expect the third and final leg of the crash that began in October 2018 to occur in October 2019, or sooner, and see the S&P 500 fall ~30% to lower lows ~2100-2200. Until then, I expect the S&P to slowly grind higher towards 3000-3150, short-term pu ...

European update – Stocks bounce after PMI setback

Markets recover from initial post-PMI weakness European equity markets have recovered from earlier weakness, following another disappointing batch of PMIs from the euro area, with stocks being supported by a weaker euro. Source – Thomson Reuters Eikon It’s going from bad to worse for the eu ...

Dollar Rallies After US Retail Sales Rebounds Strongly in March

Advance Estimates of U.S. Retail and Food Services Advance estimates of U.S. retail and food services sales for March 2019, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $514.1 billion, an increase of 1.6 percent (±0.5 percent) from the p ...

GBP/USD – British pound edges lower despite strong U.K retail sales

GBP/USD has posted slight losses in the Thursday session. In North American trade, GBP/USD is trading at 1.3015, down 0.20% on the day. On the release front, British retail sales jumped 1.1% in March, crushing the estimate of -0.3%. As well, the Bank of England released its quarterly credit conditi ...

DAX higher as progress reported in U.S-China trade talks

The DAX index continues to point upwards and has posted gains for a seventh straight session. On Thursday, the DAX is at 12,201, up 0.40% on the day. It’s been all ‘April flowers’ for the DAX, which has soared 5.9% this month. In economic news, German manufacturing PMI dropped to 44.5 in Marc ...