Crude Oil Price Forecast: Bullishness Aligns with Shrinking Supply Glut
Crude Oil Bulls can put another feather in their cap as the weekly EIA report showed the glut is shrinking and a breakout could be developing.
CAD: Cycle Has Turned But There Are N-Term Risks; Where To Target? – Credit Agricole
Credit Agricole CIB FX Strategy Research notes that at present, the CAD appears to be starting with a ‘clean slate’ with USD/CAD in line with its fair value based on oil, 2Y interest rate differentials and global risk and position…
Forex technical analysis: USDJPY moves higher as London traders exit
Making a bullish play before the FOMC
The flows into the 4 PM London fixing were buys and we are seeing follow through buying as the clock ticks toward the end of the day for European and London traders.
Forex technical analysis: USDJPY moves higher as London traders exit
Making a bullish play before the FOMC
The flows into the 4 PM London fixing were buys and we are seeing follow through buying as the clock ticks toward the end of the day for European and London traders.
European stocks ending the session with gains
Yields are a bit lower at the stock close
The European major stock indices are ending the day with gains
In the 10 year debt sector:
Global Equity Markets Higher Ahead of FOMC Meeting
European markets are moving steadily higher ahead of the Federal Reserve interest rate decision. No changes in U.S. monetary policy are expected.
EUR/USD Risks Near-Term Pullback on Hawkish FOMC Statement
The FOMC policy statement may boost the appeal of the U.S. dollar should the central bank show a greater willingness to wind down the balance sheet in 2017.
Forex technical analysis: USDCHF rebounds back above swing low levels. Low in place for the pair.
It is looking better off the rebound
that the CHF remained significantly overvalued.
SNBs Jordan did comment on Monday
Typically, the SNB focuses on the EURCHF, which happens to be well off the lows on the back of the stronger EURUSD.
Brexit Briefing: Sterling Holds Its Ground as Soft Brexit Hopes Rise
Traders in the British Pound are holding their nerve as fears of a hard Brexit recede.
USD/CAD: Where To Consider A Fresh Short On A Bounce? – TD
TD FX Strategy Research thinks that the 1.2450/60 area in USD/CAD will act as formidable support but the risk of another significant move lower is still intact.
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North Korea could test ICBM later today
US officials cited by Fox News
North Korea is expected to test an ICBM as soon as tonight, according to US officials cited by Fox News.
The best column I’ve read about North Korea was written earlier this month by Eli Lake. He convincingly argued that …
DOE weekly US oil inventories -7208K vs -3000K expected
Weekly energy inventory and production data
– Prior was -4727
– Gasoline -1015K vs -1800K exp
– Distillates -1852K vs -500K exp
– Cushing -1699K vs -23K prior
API yesterday:
Forex technical analysis: USDCAD moving sideways into DOE inventory data
Trend line and 100 hour MA catching up.
The USDCAD is mired in 28 pip trading range as the DOE inventory data is awaited (the 22 day average is 86 pips).
Trump says decision on steel imports coming “very soon” err, “fairly soon”
Decision was promised by the end of June
In his interview with the WSJ yesterday Trump backed off promising action on steel imports imminently but said action is coming.
US stocks continue the run higher in early trading. DOE inventory data ahead
Earnings are good. DOE data expected to show a draw in inventories
It is hard to deny, that the earnings have been good. Today Boeing beat and the stock is up over 8%. After the close, another FANG stock – Facebook – will announce.
AUD/USD: S/T Regression Model Points To A Further 2% Correction Lower – BTMU
BTMU FX Strategy Research notes that the key data from Australia this week – the Q2 CPI report – was released today and confirmed that the RBA continues to miss to the downside its inflation target.
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June US new home sales 610K vs 615K expected
US new home sales for June 2017
– Prior was 610K (revised to 605K)
– Sales up 0.8% m/m vs +0.8% m/m expected
– May sales revised to +4.9% from +2.9%