Crude Oil Prices Continue to Fall
After extremely bullish session last week, the Yen was little changed against other major currencies today, with traders looking to moves in risk assets like equities and oil to set the market's direction. The USD/JPY is currently traded around 92.40.
Crude Oil prices experienced another day of depreciation as the oft-traded commodity dropped below $60 a barrel during today's trading session. Much of this bearish movement in Crude Oil can be attributed to fears of a drop in fuel consumption due to poor ec... ( read more )
Crude Oil
Strong Data from the US Pushes Up Dollar and Oil
The U.S. Dollar and Crude Oil experienced much bullishness in yesterday's trading. The Dollar reacted positively to decent existing Home Sales data and Timothy Geithner's optimistic speech regarding the U.S. economy. This helped the Dollar record a correction against most of its major currency pairs. Crude Oil also reacted positively to the news, helping the "black gold" extend its bullish run.
The Dollar rallied yesterday against most of its major counterparts after data suggesting the slowdown in the U.S. housing market has bottomed out g... ( read more )
Crude Oil Prices Goes Up on Weak Dollar
Oil prices reached over $49.50 a barrel yesterday, an increase of a whopping 4%. It seems that the OPEC production cuts have worked. Traders should also take into account that the Crude prices were also fueled yesterday by bullish stock markets and a weak Dollar. The price of Crude Oil is only likely to increase further today if the U.S. and Euro-Zone continue to show optimism, and the Dollar continues its bearish run.
The U.S. Dollar plummeted considerably versus its major rivals on Thursday. This was amid uncertainty about the economic ou... ( read more )
Crude Oil Continues to Drop
When glancing back at a weekly chart several months from now, one will look at the change in the market last week and consider it a normal one. The greenback ended the trading week last week virtually unchanged against its major rivals from the levels it began the week with. A closer look into last week's trading however will show a much different picture. The greenback saw record lows against the EUR crossing 1.6035 before regaining nearly 200 pips to close the week. The same was the case for the USD/JPY shooting back up to over 106 after f... ( read more )
Crude Oil Continues To Fall
The USD had a strong trading day against its currency crosses yesterday. The USD's rally was supported by a batch of better than forecasted economic releases and a hawkish speech by Fed Chairman, Bernake. The USD also took advantage of the falling Crude Oil prices which traded at around $134 a barrel yesterday. After trading at around 1.60 on Tuesday, the EUR/USD fell to the low of 1.58 as the USD gained momentum. The USD/JPY rose from around 104.00 to trade above 105.00 in yesterday's market following the releases from the U.S.
The USD took... ( read more )