Posted by support on October 13, 2016

(Reuters) - Energy hedge fund manager Pierre Andurand said crude oil could hit $60 a barrel by the end of the year and $70 by summer 2017 as Saudi Arabia wants higher oil prices and will make it happen.
"Market participants are getting lost in monitoring how much each individual country is going to cut," Andurand wrote in the latest letter of his eponymous hedge fund that manages $1.4 billion (1.14 billion pounds), referring to Saudi plans to get OPEC and other oil producers to reduce output to boost prices.

Posted by support on October 10, 2016

Oil futures fell for the first time in three sessions on Friday, but still scored their third weekly gain in a row as market players awaited details of a planned output cut by the Organization of the Petroleum Exporting Countries.

Posted by support on October 10, 2016

The U.S. dollar declined against a basket of major currencies on Friday, retreating from a more than two-month peak after U.S. employment data for September disappointed analysts’ expectations, while the British pound plunged after what traders called a "flash crash" knocked the currency to a 31-year low.
The U.S. economy added 156,000 jobs last month, down from a gain of 167,000 in August, while the unemployment rate ticked up to 5.0%, the Labor Department said Friday. Market analysts had expected 176,000 new jobs and the jobless rate to hold at 4.9%.

Posted by support on September 29, 2016

ST. LOUIS (Reuters) - Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between.
Speaking in the wake of the U.S. central bank's decision last week to hold rates steady, 10 Fed officials fanned out for appearances this week in a profusion of "Fedspeak" that markets and the public are trying to digest.

Posted by support on September 29, 2016

Oil prices extended gains in North American hours on Wednesday, rising to the strongest levels of the session after data showed that crude supplies in the U.S. fell for the fourth week in a row.
Crude oil for November delivery on the New York Mercantile Exchange rose 64 cents, or 1.43%, to $45.31 a barrel by 10:35AM ET (14:35GMT). Prices, which were at around $45.40 prior to the release of the inventory data, spiked to $45.77 immediately after the report.

Posted by support on September 29, 2016

ALGIERS (Reuters) - OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
"OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," said Iranian Oil Minister Bijan Zanganeh, who had repeatedly clashed with Saudi Arabia during previous meetings.

Posted by support on September 22, 2016

TOKYO (Reuters) - The dollar gained in Asian trading on Friday but was on track to end a tumultuous week with losses after the Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework.
The U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it could still tighten monetary policy by the end of this year. The central bank projected a less aggressive rise in interest rates next year and in 2018, and it cut its longer-run interest rate forecast to 2.9 percent from 3.0 percent.

Posted by Tom on July 22, 2016


GBP/USD has stabilized around the 1.32 mark over the last hours after pulling back from daily highs, weighed by disappointing UK retail sales data.
GBP/USD retreated from the 1.3270 zone to a low of 1.3154 before meeting support, although it lacked momentum to stage a decent bounce and has spent the last hours in a slim range. At time of writing, the pair is trading at 1.3195, virtually unchanged since opening.
GBP/USD levels to watch

Posted by Tom on July 22, 2016


The AUD/USD pair pared some of its tepid recovery gains above 0.7500 handle and has now dropped back below 100-day SMA to currently trade around 0.748-90 band.
The pair seems to lose traction after risk-off seems to have gripped the market after ECB decided to leave its monetary policy unchanged. Moreover, prospects of further monetary easing by RBA continue to weigh on the Aussie and thus, restricting any swift recovery.

Posted by Tom on July 22, 2016


EUR/CHF edged a tad higher but overall remained little changed following European Central Bank decision to leave rates and QE unchanged at today’s meeting.
EUR/CHF had pulled back from a weekly high of 1.0903 back below the 1.0900 level before the ECB statement, and continued to trade around 1.0870/80 afterwards, where it is flat on the day.
ECB decided to leave the main rate unchanged at 0.00%  and confirmed that the monthly asset purchases of €80 billion are intended to run until the end of March 2017.
EUR/CHF levels to consider

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