Commodity concerns

23 November, 2015

This week commences on a soft note for European indices following a good month that saw the best weekly performance from global stocks in just over a month. Increased security tensions across Europe and a continued downward spiral of commodity prices means we’re going to see a softer open for equity markets this morning and sentiment is likely to be tested further with a very quiet week ahead on both the economic and corporate data front, culminating in the two day Thanksgiving celebrations in the US.

Markets are being pulled by big forces in different directions with some investors seeing the expected extension to monetary easing from the ECB next week to provide further impetus for equity markets, meanwhile the prospect of tightening from the Fed next month at a time of slowing global growth, as evidenced by weaker commodities, is a reason to be more bearish. This continues to put downward pressure on EURUSD which is lower this morning at 1.0620 having already tested the 1.0600 level. Eurozone services and manufacturing PMIs this morning will be watched closely and then this afternoon there’s US manufacturing PMI and home sales data which could help the dollar in its next leg higher.


Source link  
Oil hits 3-month lows

On Monday, the dynamics of oil was in the spotlight on a combination of negative factors by both the potential demand and the supply part. Asian markets...

Fed Monetary Policy Report to be released

This report is release twice a year and provides an insight into the conduct of monetary policy and economic developments and prospects for the future for the...

The Pound continues to weaken

Cable (GBPUSD) took a hit yesterday as Boris Johnson resigned from the Cabinet following the earlier decision by David Davis to part ways...


The latest Brexit proposals

The UK's Brexit Secretary David Davis has resigned along with two junior ministers, Steve Baker and Suella Braverman, over PM May's latest softer Brexit proposals...

Some ECB members want earlier rate hike

The markets remain subdued after yesterday's 4th of July celebrations in the US. Despite this Oil headlines are dominating the markets once again. US President Trump...

Gold has played out as a double top

The gold chart has played out as a double top with a break under 1300.00 signalling a move down to 1240.00 from its highs at 1365.00. We have now hit the 1240.00...


Gold chart has played out as a double top

The gold chart has played out as a double top with a break under 1300.00 signalling a move down to 1240.00 from its highs at 1365.00. We have now reached...

President Xi warns of Full Scale Trade War

Risk on sentiment returned briefly yesterday as markets retraced some of Monday’s selloff but sentiment in Asia has declined overnight. The PBOC cut...

USD extend losses in risk adverse markets

Stock markets fell hard yesterday as trade tensions deepened and the consequences of such action has investors worried. US Company Harley Davidson...


In the past 24 hours Bitcoin has lost -1.81% and reached $7310.58. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.3727% and is now at $1.1646. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 4.32% and is now at $453.177. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM86%
4FIBO GroupFIBO Group79%
5FxProFxPro78%
6FXCMFXCM73%
7AvaTradeAvaTrade69%
8HotForexHotForex68%
9XMXM68%
10Alfa-ForexAlfa-Forex66%
  


Share: