WTI hits $ 32.74, Asian stocks rally on ECB March QE promise

January 26, 2016

Oil futures have rebound from the 12-year low during the Monday session. The cold snap in the U.S. and a substantial cut in bearish positions have both worked as an upward propeller for the prices. Texas benchmark jumped by 1.40% to $32.64, running out of steam at this point and changing direction to downward. Brent futures hiked sharply to $32.67, narrowing the margin with its U.S. peer.

Consumption of fuel in the U.S. may increase significantly this week as low temperatures across the states will force the country to retreat from its price war for some time and focus on heating issues.

Last CFTC report showed that bears camp has shrunk by 8.4% from 200,975 to 184,193 positions. Long positions were reduced by only 4,580 to 266,150. This shift may reflect the apprehensions of non-commercials that dovish rhetorics on stimulus bets will boost the markets. It can mean a U-turn for Oil, as according to analysts the $26.55 level that WTI touched this year can be considered as a fair bottom.

Asian markets were encouraged by stimulus cues from Draghi’s speech and keep up the rally that started last week. Nikkei 225 climbed to 17,110.91 (+0.90%), Topix gained 1.34% to 1,392.63, Hang Seng advanced by 1.40%. Chinese indices CSI300 and ShComp gained 0.5% and 0.75% respectively with QE attempts by Chinese authorities bringing back Yuan’s depreciation against USD.

Publication source
Tickmill information  Tickmill reviews

January 16, 2017
U.S. markets are closed Monday
U.S. markets are closed Monday for Martin Luther King Day. This will be a busy week for traders, with the inauguration of president-elect Trump on Friday headlining...
January 16, 2017
Busy start to the GBP with Carney speech
U.S. markets are closed today on account of Martin Luther King Day. Economic data is quiet ahead of another busy week. The Bank of England Governor, Mark Carney will be speaking later this afternoon and his comments come a day before the British PM Theresa May will be holding her press conference on Brexit...
January 13, 2017
The dollar is trading softer into the London open
Aftershocks from President-elect Trump’s campaign-like press conference, which had weighed on global stock markets and yields started to recede late in the U.S. session and U.S. equities managed to recover part of their losses...

Tickmill Rating
OANDA Rating
Fort Financial Services Rating
FOREX.com Rating
OctaFX Rating
Trade360 Rating

Banc De Binary Rating
OptionRally Rating
Porter Finance Rating
Binary Brokerz Rating
TropicalTrade Rating
EZTrader Rating